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"FinancialForce ERP is the hub for everything we do from accounting to invoicing and everything with regards to our customers."

Mark Stibbe, Managing Partner, Global Operations, GroupBy

GroupBy is a SaaS eCommerce solution provider for a variety of verticals focusing on increasing conversion rates for customers in retail, banking, media and other industries. GroupBy also has a services division that supports the implementation of their software.

Products in Use: FinancialForce Accounting; FinancialForce PSA

Company size: Small

Previous system: QuickBooks

Location: Toronto, Ontario, Canada

Industry: Software/SaaS/Web Development

Business Issues

  • A connected ecosystem of applications to support growth was on order to prevent any complex legacy migrations down the road
  • Strong vision for a single cloud system was in the plans from the get go–no Frankenclouds wanted here
  • One consistent view of the customer was required to drive efficiencies
  • Invoicing through spreadsheets proved to be time consuming and error prone
  • Needed to choose a solution that would work with the company’s long term vision and growth plans

Benefits & Results

  • Current cloud choices integrating CRM with projects, financials and accounting eliminated all competition leaving FinancialForce.com the obvious choice
  • Forward thinking tech company can start small and grow without any headaches and no worries about scalability
  • True ERP in the cloud–FinancialForce.com literally runs the business keeping leadership confident they picked the right horse to ride
  • Quick time to value–implementation completed in three short weeks
  • Software does everything that was promised–out of the box–without bringing in costly consultants for customizations
  • Ability to view all Opportunities, Projects and Invoices in one record creates massive efficiencies
  • Automatic invoices sent to customer provides a true end-to-end customer cycle
  • Project Managers (PMs) can see overdue invoices and take action
  • Collaboration without talking! Single customer record means Sales can view project status–don’t need to call PMs. PMs know what’s going on with Opportunities in the pipeline with no need to meet with Sales
  • Single customer record stores renewal dates allowing Sales to start the renewal customer conversation early demonstrating strong customer service
  • Big impact: VP Sales can drive the sales cycle more effectively - enabling a small team to grow customer base more rapidly
  • Consistency is the flavor of the day–no matter who is viewing customer record, every team views the same information saving valuable time chasing down information
  • System upgrades are easy and pain-free

How we hire, how we plan, how we know who has paid–and who has not. It is the system that runs our business and where all our decisions are made.

Mark Stibbe, Managing Partner, Global Operations, GroupBy

Metrics

  • Month end invoicing reduced from 6 days to .5–a 92% time savings
  • DSO improved minimum of 15% with end-to-end customer visibility
  • Visibility into sales forecasts makes the staffing process much easier: Typical staffing request used to take 2 person days is now on demand–staff per project and per request
  • Who is doing what and where is now covered in an organized one-hour conference call vs taking days to email and phone everyone
  • Growing fast–but not hiring fast. Previous systems would have required 3-4 extra people to support growth
  • Bottomline efficiencies saves organization money–what would take days, now takes hours