# Fast growing Accounting Firm Relies on Budget Maestro for Strategic Financial Planning Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2015-11-27 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: Streamline Budgeting and Forecasting with Maestro Suite Meta Description: Discover how MGO improved financial forecasting and budgeting using Centage Corporation's Maestro Suite. Gain essential financial insights today! URL: https://financedigest.com/about-mgo-llphtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/bmshtgrph2-1736844876471-compressed.jpg) Founded in 1987, MGO (Macias Gini & O’Connell LLP) is one of the fastest growing professional services firms in the country.  With 250 employees in 9 offices throughout the Western United States, the firm offers a diverse array of assurance, tax, outsourcing and advisory services to clients that range from aerospace and engineering firms, to hospitals and nonprofit foundations – from the largest government entities in the country, to the biggest celebrities in Hollywood. MGO is ranked as one of the top CPA firms in the nation by Accounting Today and Inside Public Accounting, and the firm was awarded the ‘Best of Accounting’ designation in Client Satisfaction by the independent research firm, Inavero. **Challenge** As Controller of a fast growing accounting firm with thirty years of industry experience, Scott [Elliott had a vision for better managing](https://www.financedigest.com/activist-investor-elliott-management-takes-stake-in-salesforce-sources.html "Activist investor Elliott Management takes stake in Salesforce -sources") the financial health of the organization.   At the same time, MGO was [undergoing a structural reorganization](https://www.financedigest.com/volkswagens-financial-services-undergoing-reorganization.html "Volkswagen’s financial services undergoing reorganization") that would require significant changes to the budgeting and forecasting process.  Scott knew the current [software solution](https://www.financedigest.com/healthcare-software-solutions-to-ride-the-immunohematology-market.html "Healthcare Software Solutions to ride the Immunohematology Market") lacked the functionality and flexibility to support a more strategic approach to financial management.   It was not user friendly, seamless or dynamic and over time, Scott became frustrated by the archaic software.    He began limiting use of the solution and eventually conducted an [industry wide search for a more strategic and comprehensive budgeting and forecasting software](https://www.financedigest.com/rd-tax-important-exemptions-and-upcoming-changes-for-the-it-software-industry.html "R&D Tax: Important Exemptions and Upcoming Changes for the IT & Software Industry") suite to execute on his vision and support the firm’s new organizational structure. **Solution** After reviewing several [software solutions](https://www.financedigest.com/healthcare-software-solutions-to-ride-the-pneumatic-compression-therapy-market.html "Healthcare Software Solutions to ride the Pneumatic Compression Therapy Market"), Scott turned to the Maestro suite from Centage Corporation.  The seamless integration of [Budget Maestro](http://centage.com/Products/Budget-Maestro-Overview.asp), [Analytics Maestro](http://centage.com/Products/Financial-Dashboard-Reporting.asp) and [Link Maestro](http://centage.com/Products/Data-Integration/Accounting-Integration-System.asp) were ideal to support the firm’s strategic approach to managing the financial health of the organization.   By streamlining the process for budgeting, planning, forecasting, reporting and business performance analysis, Scott is now in a powerful position, armed with the essential financial insight needed to [improve](https://www.financedigest.com/italy-slashes-2023-growth-forecast-but-sees-public-finances-improving.html "Italy slashes 2023 growth forecast but sees public finances improving") financial performance.   Working closely with one of Centage’s training consultants, Scott was able to dig deep into the software and develop an [integrated budgeting and forecasting solution](https://www.financedigest.com/5-ways-data-integration-solutions-are-helping-financial-organizations-deliver-improved-outcomes.html "5 Ways Data Integration Solutions Are Helping Financial Organizations Deliver Improved Outcomes") tailored to MGO’s unique financial needs. “We always knew what we wanted from a budgeting software solution and Budget Maestro allowed me to finally execute on that vision. By providing a blank canvas, with deep features and functionality, we were able to [customize the software to meet](https://www.financedigest.com/meeting-customers-where-they-are-through-financial-inclusion-and-hyper-personalization.html "Meeting Customers “Where They Are” Through Financial Inclusion and Hyper-Personalization") the unique requirements of my organization.  We forecast at a relatively granular level, planning our revenue and employee costs at a per [staff member](https://www.financedigest.com/gumgum-appoints-new-staff-members-across-germany.html "GumGum appoints new staff members across Germany") level.  Now, I am in a strategic position to support [key stakeholders with critical](https://www.financedigest.com/aquaponics-market-critical-insights-key-trends-global-outlook-forecast-till-2031.html "Aquaponics Market Critical Insights, Key Trends, Global Outlook & Forecast Till 2031") financial insight.” **Results** “I’ve been in this profession for more than 30 years and I have found trust to be the single most [important factor when investing](https://www.financedigest.com/4-important-factors-to-consider-when-choosing-an-eb-5-visa-investment-project.html "4 Important Factors to Consider When Choosing an EB-5 Visa Investment Project") in any kind of data management tool. I trust the Maestro suite of products. It’s a powerful, reliable [set of tools and I can’t say that I have gained trust](https://www.financedigest.com/markets-slammed-with-noise-investors-trust-tone-to-set-the-record-straight.html "Markets Slammed With Noise, Investors Trust Tone to Set the Record Straight") in a software as quickly as I did with the Maestro suite.  If you invest the time, Maestro will not disappoint.” After only a few short months, Scott saw measurable results.   In the past, he would produce an annual budget, modify and then start over for the [next year](https://www.financedigest.com/musk-says-tesla-will-launch-prototype-of-humanoid-robot-next-year.html "Musk says Tesla will launch prototype of humanoid robot next year").   This process, which often took more than a week, now happens in merely two days, cutting down time spent by 50%.   Scott notes the perpetual aspect of the software is critical and as a result, the firm is now operating at least a [month ahead](https://www.financedigest.com/dutch-governor-knot-signals-ecb-will-keep-raising-rates-in-months-ahead-ft.html "Dutch governor Knot signals ECB will keep raising rates in months ahead- FT") of schedule in the budgeting process.  In addition, the real time aspect of the data is essential, particularly when applied to managing personnel. With unplanned turnover and leaves of absence, Scott is often [consumed by managing employee records](https://www.financedigest.com/asian-shares-rise-after-consumer-confidence-boosts-nasdaq-to-record-high.html "Asian shares rise after consumer confidence boosts Nasdaq to record high").  Since relying on Budget Maestro, he has found the ability to create a record, and easily modify it incredibly valuable and easy to do, so much so that he has extended the use of the software to the firm’s HR department to spearhead.  Budget Maestro personnel planning [saves Scott and his colleagues at least 40 hours in projecting labor costs](https://www.financedigest.com/untapped-cost-savings-why-smart-building-management-systems-are-a-finance-department-priority.html "Untapped Cost Savings: Why Smart Building Management Systems are a Finance Department Priority") on an annual basis. Budget Maestro now serves as a central data repository, allowing MGO to [create expectations](https://www.financedigest.com/infant-formula-packaging-market-is-expected-to-create-an-incremental-opportunity-of-us-3-bn-by-2027-tmr.html "Infant Formula Packaging Market is expected to create an incremental opportunity of US$ 3 Bn by 2027 | TMR"), targets and goals to effectively track employee productivity.  For example, each employee has associated firm costs, revenue records, etc.   With Budget Maestro, the firm has the ability to drill down and view data at the individual [level as well as cumulatively to generate accurate forecasts](https://www.financedigest.com/electronic-board-level-underfill-and-encapsulation-material-market-to-expand-at-a-cagr-of-5-5-by-during-the-forecast-period-of-2020-2030.html "Electronic Board Level Underfill And Encapsulation Material Market to expand at a CAGR of 5.5% by during the forecast period of 2020-2030") for individuals – something they always wanted to do but lacked the technology to support it.  Now, [key stakeholders have a true understanding of what individuals are capable of from a revenue](https://www.financedigest.com/publishers-and-brands-view-commerce-content-as-a-key-revenue-driver.html "Publishers and Brands View Commerce Content as a Key Revenue Driver") standpoint. “Budget Maestro has empowered us to establish forward thinking processes in the financial management of our people.  Before we just saw statistics.  Now the numbers mean something and are making an [impact on our business](https://www.financedigest.com/how-technology-consultants-impact-business-growth.html "How Technology Consultants Impact Business Growth"). ” The seamless [integration between Budget Maestro and Analytics Maestro has made a significant impact](https://www.financedigest.com/impact-com-closes-2021-with-new-google-pay-integration-150m-in-funding-and-51-increase-in-clients-yoy.html "impact.com closes 2021 with new Google Pay integration, 0M in funding and 51% increase in clients YoY") on MGO’s reporting capabilities.   The easy to use drag and drop features in Analytics Maestro allow for easy extraction of information, creating instant time savings.    With Analytics Maestro, MGO can easily consolidate or isolate information and with the ability to retrieve original budget [data from Budget Maestro and projected budget information to create a hybrid of budget data, and key stakeholders can easily compare data to fuel](https://www.financedigest.com/wall-st-ends-lower-treasury-yields-slide-as-data-fuels-recession-jitters.html "Wall St ends lower, Treasury yields slide as data fuels recession jitters") strategic decision making, in real time. “I have only [scratched the surface](https://www.financedigest.com/explainer-western-sanctions-on-banks-only-scratch-surface-of-fortress-russia.html "Explainer-Western sanctions on banks only scratch surface of Fortress Russia") of Maestro ‘s capabilities– the breadth of the offering is extensive.  There is so much more I want to accomplish.  With Maestro in place, I am in a better [position to implement the forward thinking](https://www.financedigest.com/go-for-it-think-positive-believe-in-yourself-and-do-what-you-love-says-dawn-elliott-of-sew-confident-chorley.html "“Go for it, think positive, believe in yourself and do what you love” says Dawn Elliott of Sew Confident Chorley") processes I have always wanted to employ but didn’t have the tools to do so. ” Another key benefit is that the organization now has the ability to maintain a [balance sheet](https://www.financedigest.com/ecb-policymakers-back-jumbo-rate-hike-differ-on-balance-sheet-cut.html "ECB policymakers back jumbo rate hike, differ on balance sheet cut") budget from an operating budget.   A difficult task to execute, Scott could not do so with the former budgeting software solution. Now an automated feature, once created, Scott only needs to develop an operating budget and everything else falls into place easily.   Projecting [cash flows](https://www.financedigest.com/should-your-business-reconsider-invoice-financing-top-tips-on-why-reappraising-this-method-liberates-business-cash-flow.html "Should your business reconsider invoice financing? Top tips on why reappraising this method liberates business cash flow") and balance sheet ratios is now an everyday possibility. In the future, the firm plans to [move towards a rolling forecast model](https://www.financedigest.com/the-compression-therapy-devices-market-to-move-towards-healthcare-models-of-convenience.html "The Compression Therapy Devices Market To Move Towards Healthcare Models Of Convenience").   The Maestro suite of solutions makes this easy by streamlining the accessibility of real time information on an ongoing basis.   Previously, MGO had to rely on periodic data, hindering the ability to make real [time decisions and report](https://www.financedigest.com/credit-suisse-executives-reassure-investors-after-cds-spike-financial-times-reports.html "Credit Suisse executives reassure investors after CDS spike, Financial Times reports") financials with true confidence. Now, with the ability to incorporate live data into the forecasting process, Scott can confidently report on [projected revenue](https://www.financedigest.com/digitally-projected-revenue-to-be-the-unique-selling-point-of-surgical-chisels-market.html "Digitally projected revenue to be the unique selling point of Surgical Chisels Market") and arm key stakeholders with valuable, real time data.    Empowered with this information, executives can make strategic decisions about the [future of the organization](https://www.financedigest.com/organic-soy-products-market-outlook-current-and-future-industry-landscape-analysis-2029.html "Organic Soy Products Market Outlook, Current and Future Industry Landscape Analysis 2029") with confidence. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---