In services business, it’s not as simple as charging a customer for a product, getting a credit card number, and shaking hands. You need to track all the financial underpinnings of a project including budgets, estimates, WIP, pre-bills, bookings, invoices, billing milestones, percentage complete, and costs. FinancialForce PSA simplifies the business of services. It brings all the business details together so you’ll know exactly where your project financials stand at anytime.
FinancialForce PSA provides online access to all the financial detail related to your services projects and opportunities at anytime (and from anywhere). It can start even before a deal is won because it is on the same platform as Salesforce Sales Cloud.
Now you can track planned revenue, cost, and profit margin to evaluate if the project meets profit requirements before it even kicks off. As the project progresses you will get detailed information into expenses, hours submitted, and can also track when bills are processed, sent, and paid.
Flexible billing options mean that you are free to develop pricing and billing processes that satisfy customers demand and maximize your revenue without driving up administrative costs.
Forecasting services revenue is different than sales forecasting. FinancialForce PSA provides a simple, easy to use forecasting tool designed specifically to enter and track services forecasts.
Can revenue recognition be this easy? With our Revenue Recognition module, you can connect directly to milestones or project completion percentages to calculate and record revenue as projects are completed.
Finally track a budget in a way that meets your needs. With FinancialForce PSA, you can create one or more budgets for each project. Track actual expenses and billing to see how you’re progressing against your budget - meaning you can rapidly adjust to control costs and preserve profit margins.