Armada Consulting has released an upgraded version of its Acumen cost analytics software.

Acumen 2.0 includes an updated interface that lets users model costs in less time and includes an improved calculation engine that can process cost data across a company faster than previous versions, Armada said Thursday.

The upgrade provides users with the ability to expand activity-based cost modeling efforts to align expenses with revenue sources across multiple parts of the organization. This can help companies improve profitability through better pricing and efficiency and reduces unnecessary expenses, Armada said.

The software maintains a view of costs that reconciles to financial accounting measures of performance, the company said.

"Rising costs and falling margins are driving the demand for more detailed cost information than traditional financial systems can provide. Acumen 2.0 provides clients with a deeper set of cost analytics to drive improvement, establish cost controls and better understand the economics of their business," Micah Campbell, Armada's director of enterprise solutions, stated in a news release. "This release of Acumen represents a true collaboration with our clients as they provided great feedback and recommended enhancements for improving the product."