Marketo Collaborates with Allocadia to Launch Financial Management App

Marketo, a cloud-based marketing software platform, has announced Marketo Financial Management, an app developed in collaboration with Vancouver’s Allocadia.

According to Marketo, marketing teams struggle to track the spending across all the marketing programs they have in flight, making it hard to stay on budget. Marketo Financial Management does away with that by giving marketers an up-to-date view of marketing spend, so they can forecast accurately, find and reallocate program dollars, and spend to plan, the company says. Instead of using spreadsheets, manual processes, or legacy software, marketers can use MFM’s approach to share and manage budgets from a single source.

“We are pleased to be working so closely with Marketo to incorporate our best-of-breed marketing budgeting technology into their platform,” says Kristine Steuart, CEO and co-founder of Allocadia. “Our joint customers have been telling us that our products are a great combination, and now Marketo Financial Management makes it easier than ever for Marketo’s customers to take control of their marketing budgets.”

“It’s difficult for marketers to answer the finance department’s questions about reconciling invoices and forecasting marketing spend, especially in a complex or global organization,” saysSanjay Dholakia, chief marketing officer, Marketo. “Now, marketing teams can use Marketo Financial Management to build credibility with the finance department by tying invoices and purchase orders together with marketing programs and providing more accurate forecasts on marketing spend.”

Earlier this year, Allocadia raised a $1 million seed round led by Beehive Holdings and iNovia Capital, Canada’s Venture Capital Firm of the Year for 2012.

Allocadia has grown organically since launching its cloud software service in 2010, landing deals with leading enterprise chief marketing officers across diverse sectors.