Fifty Shades of Uncertainty: Tracking Global Marketing Budgets


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Mystery and intrigue are great for novels, but not for your marketing budget. What if you could put the days of nail-biting budget processes behind you? Marketo Financial Management is budget tracking software made by marketers for marketers. It ties your marketing budget data together with your invoices and marketing programs in a single system of record. No more suspense over calculations, transferring funds, overspending, or multiple versions of data.

Join the experts at Marketo as they discuss best practices that will help you:

-Introduce budget management standards that balance regional flexibility
-Create more accurate and timely spending forecasts
-Automatically reconcile invoices and purchase orders from any source
-Attribute spend directly to Marketo programs for instant ROI reporting

You'll also hear how Citrix and F5 are now able to improve budget oversight and make decisions based on more accurate data.

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  • Marketers struggle to manage their budgets & spendAnd it’s no wonder why89% of companies are tracking their budgets in massive spreadsheets on a shared networkCustomers frequently tell us:“I can’t track the spend on all of the marketing programs I have in flight”-you might have 100s of programs globally-and spending data changes too fast to keep a handle on it-that makes it a realchallenge to keep the budget balanced“Getting spending updates across teams and regions is unreliable and hard to consolidate”-you have to corral people to get their updates into spreadsheets-you have to deal with version control issues, broken formulas and data entry mistakes-consolidating spreadsheets across regions is a nightmare“Finance is asking me questions I can’t answer about reconciling invoices and forecasting spend”-mapping finance’s view of of the world (invoices and purchase orders) to marketing’s view, which is about programs and campaigns, isn’t easy-and it’s hard to provide accurate forecasts when you don’t fully trust the data-you don’t want to risk your credibility with the finance team-so you spend a lot of time gathering, organizing, checking and double checking the data
  • What if, for every budget period, you could-See where you’re going-Make adjustments with confidence to balance your budget-Land on target
  • Marketo Financial Management is budget management software made for marketers that helps them manage spend better.It gives marketing teams an up-to-date view from a single, web-based source, so you can:-Forecast accurately-Find and reallocate budget (knowing the money is really “there”)-Spend to planMarketo Financial Management saves marketers time, makes it easy to collaborate across teams and regions, and helps marketing and finance work together better.
  • MFM capabilities include:Centralized Budget & Roll Ups-organize your marketing investments by team, brand or location-easily manage access rights-manage multi-currency budgeting environments-roll up plans, forecasts and actual totalsVisual Dashboards & Reports-easily answer key marketing budget questions with out-of-the box dashboards-standard and configurable reports allow you to get value quickly and set up the reports you need for your process or on-the-fly reporting-full library of report visualizations with drill down capabilitiesExcel-like Financial Planning Functionality for Marketers-Familiar spreadsheet like interface for easy adoption-marketing budgeting scenarios – top-down or bottom-up planning-view quarterly or yearly totals-import/export capabilitiesMap investment plans to objectives & Marketo programs-map spend to marketing goals, allocate one spend to multiple goals-capture additional information like target audience or region-track additional information with custom fields by regionFinance ERP System Data Import-intelligence rules-based import process brings actuals from finance systems into MFM-lightweight solution that does not require direct connection to ERP systems-works for all organizations regardless of the ERP system used-low IT involvement-quick time to benefit because you can reduce errors with manual entry and more quickly map your actuals to your planHighly configurable to support YOUR process-custom calculations with formula engine-drag and drop layout editor-set monthly, quarterly or yearly marketing budgeting time frames-edit head names to reflect your own terminology
  • Unlike other budget management solutions, MFM connects your spend and expenses to your financial data, strategic plans and marketing programs,So you can report on where spend is occurring, how it supports your marketing objectives and work together better with finance.
  • You start with a budget assigned to you in Marketo Financial ManagementYou work that budget into a plan for the current periodThen, you create your programs in Marketo Lead ManagementNext, you forecast your spend for each program in MFM. You also associate your expenses to your programs.As the actual costs come into MFM, they populate the period costs of your programs, so you can analyze ROI in our Revenue Cycle Analytics moduleAs you determine which programs are performing and which are not, you can reallocate spend to the higher performing programs.
  • We havean automated import process that uses a secure FTP file transfer to sync actuals from your ERP system to Marketo Financial ManagementNo API integration means less red tape – no need to worry about what system is connecting to your ERP databaseAlso, fasterSecure FTP upload of data (.xls) file (No APIs Required = no custom/heavy technical integration)Simplicity allows for any data sourceMultiple data sources each with their own rule set time to value since there is low IT involvementLight weight solution that does not require technical integrationA solution that works for all organizations regardless of the systems usedLow IT involvementQuick time to benefit (Actuals mapped to Plan)
  • F5 is a billion dollar Kristen Petersen, the director of marketing operations, talked about the challenges they had with marketing spend visibilityThey had a difficult time producing accurate forecasts because they didn't have a way to track their commitsWhat was particularly challenging was they were regularly consolidating spreadsheets across 3 regions to create the forecasts they needed to balance their budgets and update finance on marketing spendNeedless to say, it was very challenging to know where they had dollars they could safely moveAnd this made working with finance more stressful than it needed to beThey our implemented budgeting, planning and forecasting solution in <2 months and began seeing results immediatelyThey were able to start managing their spend more activelyAnd even built a case with finance for increased budget by showing how two of their major corporate events were pulling budget dollars away from the regions.This is an example of a larger organization, but we have customers with teams of 5 to teams of hundreds.
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