Marketo Financial Management Makes Managing Budgets Easier for Marketers New product family extends Marketo platform to address the needs of marketing operations
SAN MATEO, Calif., May 23, 2013 /PRNewswire/ -- Marketo, (MKTO) the provider of a leading cloud-based marketing software platform, today announced Marketo Financial Management (MFM), the first application in its new Marketing Management product family. This fifth new family of applications is aimed squarely at meeting the broad needs of marketing operations.
Marketing teams struggle to track the spending across all the marketing programs they have in flight, making it hard to stay on budget. Marketo Financial Management does away with that by giving marketers an up-to-date view of marketing spend, so they can forecast accurately, find and reallocate program dollars, and spend to plan. Instead of using unreliable spreadsheets, tedious manual processes, or complex legacy software, marketers can now use MFM's web-based, automated approach to easily share and manage budgets from a single source.
"Marketing organizations need a system for budgets and operational data, just like other departments," Kristen Petersen, Director, Marketing Operations at F5 Networks said. "Combining budget management and marketing automation in a single marketing platform is a big win for marketers. We expect Marketo's solution to help marketing improve budget oversight and simplify the relationship between marketing and finance."
Furthermore, without a consolidated view of planned and actual spending across the organization, it's difficult to know what is actually available to spend. Marketo Financial Management gives the entire organization a view into what they plan to spend, what they've committed to spend and what they've already spent. This means marketers can make more intelligent decisions about where to allocate money – and work more effectively with the finance department.
"It's difficult for marketers to answer the finance department's questions about reconciling invoices and forecasting marketing spend, especially in a complex or global organization," said Sanjay Dholakia, chief marketing officer, Marketo. "Now, marketing teams can use Marketo Financial Management to build credibility with the finance department by tying invoices and purchase orders together with marketing programs and providing more accurate forecasts on marketing spend."
As part of the Marketo platform and suite, MFM automatically connects marketing spend data with marketing program and campaign data, giving marketers the ability to spend time marketing instead of chasing spreadsheets. Marketo Financial Management, built in collaboration with Allocadia Software, is the first product in the Marketo Marketing Management product family, which will address the needs of marketing operations. Allocadia's software is trusted by global enterprise customers who need a better way to plan marketing investments, manage budgeted spend and make better decisions based on ROI.
"We are pleased to be working so closely with Marketo to incorporate our best-of-breed marketing budgeting technology into their platform," said Kristine Steuart, CEO and co-founder of Allocadia. "Our joint customers have been telling us that our products are a great combination, and now Marketo Financial Management makes it easier than ever for Marketo's customers to take control of their marketing budgets."
Additional products will support marketing planning and coordination, and the management of marketing assets.
Register for Marketo's June 4th case study webinar "Beating the Marketing Budget Blues: Building a Process that Works" with Kristen Petersen and Alex Richey of F5 Networks.
About Allocadia Software
Allocadia is a cloud software for Marketing Operations that helps marketing teams manage their marketing investment planning, budgeting and marketing ROI. Enterprises see immediate financial benefits by re-allocating marketing budgets to the highest-performing campaigns. Customers include F5 Networks, Juniper Networks, SENSA Products, Stepstone and Trimble. For more information, visit www.allocadia.com or follow @allocadia.
About Marketo: Marketing Software. Easy, Powerful, Complete.
Marketo, (NASDAQ MKTO) uniquely provides an easy-to-use, powerful and complete marketing software platform that propels fast-growing small companies and global enterprises alike. Marketo® marketing automation and sales effectiveness software streamlines marketing processes, delivers more campaigns, generates more win-ready leads, and improves sales performance. With proven technology, comprehensive services and expert guidance, Marketo helps thousands of companies around the world turn marketing from a cost center into a revenue driver.
Known for providing breakthrough innovation and fueling growth, in both 2011 and 2012 Marketo received the CRM Market Leaders Awards Winner for Marketing Solutions by CRM Magazine. Salesforce.com customers also honored the company with the AppExchange Customer Choice Awards for 2012 in the marketing category.
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Kei Hoshino or Sara Schulte
marketo [at] launchsquad [dot] com
phone: 604 639 5736 ext. 111