Marketo announced Marketo Financial Management (MFM), an application to provide marketers with an up-to-date view of marketing spend so that they can forecast accurately, find and reallocate program dollars and spend to plan. MFM's web-based, automated approach is designed to replace spreadsheets and manual processes to easily share and manage budgets from a single source, according to Marketo officials.
"Marketing organizations need a system for budgets and operational data, just like other departments," said Kristen Petersen, Director, Marketing Operations at F5 Networks, a provider of application delivery networking services. "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."