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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.