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Best-in-Class Financial Management for Crisis Mode and Beyond

By now, we’ve all accepted that 2020 will be very different in terms of budget, campaigns, and ROI. Everyone is focused on saving money, improving productivity, and most importantly, mitigating risk.

In these chaotic times marketers should control what they can control, so your first act should be getting your finances and plans in order. Plans change rapidly as we acclimate to the new marketplace. Budgets shift as we reallocate funds from no-go activities like events. Now more than ever, marketers need to hone in on issues that were dragging their organization down before, because you can bet they aren’t about to solve themselves. 

New investments should be focused on improving critical business elements like financial management and strategic planning. It might seem crazy to look at adding in new technology right now, but that’s what is required to get your finances and plans under control. Budgets are core to all marketing organizations – we spend in good times and in bad. And right now, marketers have no time and no resources to gamble. In good times, you want a best-in-class solution; in the midst of a crisis, the situation demands it. 

Allocadia was identified as a Strong Performer, providing “best-in-class money management capabilities” in the Forrester Wave Q1 2020 review of Marketing Resource Management (MRM) providers. 

The MRM category is vast and encompasses tools marketers use to plan, coordinate, and track marketing activities. Forrester describes MRM as the central nervous system for marketing operations: it connects planning to execution. Our mission at Allocadia is to bring confidence to every marketer and help them run marketing like a business. Our “robust marketing performance management” gives marketers the ability to align, measure, and quickly pivot budget and strategic plans. 

But what are the features that differentiate best-in-class from the rest of the pack? 

  • Performance Management – marketing organizations need to be empowered, aligned, and agile to drive impact. It’s what we’re all looking for and Allocadia received a perfect score from Forrester. 
  • Partner Ecosystem – no technology stands alone. As marketers build out their tech stacks it is crucial to consider where integrations can be leveraged. Allocadia is one of two providers listed with a perfect score, the other is our partner Workfront.
  • Performance – arguably the most important criteria – does this solution actually work? With another perfect score, Allocadia clearly has an incredible support structure to ensure our customers succeed. Supporting services is just another area where we received a perfect score.

Beyond best-in-class features, it’s important to note characteristics that are relevant to our current climate. A crucial characteristic is having a user-friendly interface. While this is always important, if you roll out new technology while people are working remotely it better be easy to use. Allocadia has a perfect score in user experience because we know that in order to improve customer experience, we need to consider the marketer’s experience. 

Where else is Allocadia strong? We excel at budget planning, ROI, and spend optimization: critical marketing requirements every day. Marketing is always called upon to be agile and shift plans on a dime. But it’s not business as usual, we’re in the middle of a global pandemic and economic upheaval. Now more than ever, marketers must be able to act swiftly and decisively. We’re something you need all the time, but right now we’re absolutely necessary. 

Quickly knowing where dollars are improves productivity: what can be re-allocated or saved is right at your fingertips. But it’s not just about having visibility into your budget: it’s about the entire marketing team having visibility and collaborating in this remote environment. Instead of everyone using their own spreadsheets at their own homes and trying to send them to the rest of the organization, why don’t you use a best-in-class provider with a user-friendly interface? 

Don’t just take it from us! Download The Forrester Wave review for the full evaluation of why Allocadia is a Strong Performer in Marketing Resource Management. 

You’ll discover:

  • Why Allocadia has the highest score in money management capabilities
  • Why vendors with strong financial planning capabilities best elevate the effectiveness of marketing
  • Why Allocadia is the strongest performer in strategy with a near perfect score