Rochester, NY (PRWEB) September 14, 2010
ClearFinancials® Corporate Finance Edition 2.0 has been released, featuring a new, fully integrated bottoms- up budgeting module designed to automate existing budgeting and forecasting process requirements without the need for costly set-up and system integration.
Today, small to midsized companies typically manage the budgeting and forecasting process with massive spreadsheets containing complex formulas and linkages that are difficult to manage, time consuming to maintain and prone to error. ClearFinancials® provides a user friendly methodology that dramatically improves both the efficiency and insight of the typical budgeting cycle.
Mary Kay Brammer, CFO, TriStar Global Energy Solutions and recipient of the 2008 Houston Business Journal CFO of the Year – Turnaround Specialist award says that “Bottoms up Budgeting with ClearFinancials has transformed our approach to budgeting and forecasting. This financial analysis tool is an awesome addition that has improved our financial management capabilities by leaps and bounds! It’s a “must have” to meet the growing needs and complexities of today’s business and economic climate.”
The new edition embraces the best of Microsoft Excel functionality by enabling the user to immediately integrate legacy, Excel based budgeting models with ClearFinancials® Budgeting. Complete integration is measured in hours as opposed to competitive solutions that may consume weeks or even months to integrate. Once integrated, the software provides a robust platform from which actual historic financial performance is used as a basis for modeling future expectations. The impact of user defined assumptions in future P/L performance is systematically reflected in Balance Sheet accounts based upon past performance. In addition, ClearFinancials® automatically reconciles the changes by producing a Statement of Cash Flow for each month in the forecast period. Along with financial statements, a comprehensive financial assessment is prepared to provide instant visibility into the expected outcomes of Key Performance Indicators, financial ratios and operating metrics such as Free Cash Flow, Loan Covenant Compliance, Synthetic Credit Score and dozens of other measures.
Harden Furniture CFO Richard Shaw who has been using the application for two months now says “ClearMomentum has developed an extraordinary budgeting solution. The functionality delivers considerable power, which was surprising from such a user friendly and intuitive interface, and implementation was simple.” As for ease of integration, Mr. Shaw added “I was able to integrate my entire Excel based budgeting model in hours and now have an automated solution to a process that historically has consumed weeks of my time.”
Bottoms up Budgeting, combined with existing ClearFinancials® analytic and reporting capabilities, make the Corporate Finance Edition 2.0 an ideal solution for the strategic development and deployment needs of any small to midsized enterprise.
About ClearMomentum - ClearMomentum provides Executive Managers and Private Equity Investors with a Corporate Performance Management (CPM) solution that integrates financial strategy with business analytics, modeling, budgeting and is rapidly becoming the industry Gold Standard for transparent financial reporting. The solution provides an unmatched user experience delivered SaaS and can be deployed across the enterprise efficiently and cost effectively.
About TriStar Global Energy Solutions - TriStar is the leading supplier of aboveground storage tank cleaning
and related services. TriStar was founded in 2002 by a group of industry experts with extensive experience in industrial cleaning, waste management, safety and related disciplines. Following a carefully managed business development plan, TriStar has grown from a regional service provider in the U.S. to an industry leader operating worldwide.
About Harden Furniture – A family-owned and operated furniture company started in 1844, Harden Furniture has a legacy of fine furniture making deeply rooted in American craftsmanship, quality and tradition. Building on centuries of artistry and technical expertise has enabled Harden Furniture to not only survive, but thrive in very competitive economic environments. By blending old-world craftsmanship with modern technology, Harden has empowered individuals to increase the capabilities and productivity while streamlining efficiency and minimizing waste.