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SRC Adds Performance Management To Financial-Planning Products

The additions include software for long-range strategic planning and forecasting for developing budgets.
SRC Software Inc. is expanding its financial-planning product line with new corporate performance-management applications, including software for long-range strategic planning and forecasting software for developing long-term and rolling budgets based on strategic plans.

Other new applications include tools for financial and performance reporting and ad hoc analysis, capital-asset management, sales and demand forecasting, financial consolidation, and labor-productivity analysis. Also new is a scorecard application for collecting business-performance data and developing performance metrics. SRC already markets a payroll-planning application and software for developing budgets for departments, projects, and cost centers.

New Balance Athletic Shoe Inc. uses SRC software to consolidate two-year sales forecasts from its sales representatives by retail account, such as Foot Locker Inc. and L.L. Bean Inc., and by shoe style. That information is used to develop production and marketing plans and for corporate budgeting, says Teresa Holland, New Balance's sales planning manager. She says the new forecasting application will help her give feedback to sales representatives on their forecasts.

The new applications use Microsoft Excel as a front-end application and work with leading business-intelligence tools. They are available now, sold individually and as a suite. Pricing, including user licenses and consulting and training fees, starts around $75,000 and can exceed $500,000.