Cash management

Optimize Your Cash Flow and Working Capital

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One of the major benefits of FinancialForce Accounting is its ability to optimize and manage cash, especially when combined with Salesforce CRM.  And here’s why...

Firstly, FinancialForce Accounting’s inherent integration with Salesforce CRM on the Force.com platform streamlines and automates the order to cash process. Billing backlogs and inaccurate invoices are eliminated, creating a smoother and more predictable cash forecasting environment.

Secondly, DSO and collections improve because of FinancialForce.com’s team approach to financial relationship management. Sales, service and collection agents all have access to a 360° view of client activity and can interactively collaborate using Chatter. This enables collection agents to leverage those with influential client relationships and contacts to help collect past due invoices.  

Thirdly, credit problems are visible to everyone in the sales and service process when FinancialForce Accounting is combined with Salesforce CRM. This helps to prevent additional sales to non-credit-worthy customers.

Fourthly, the cash balances reflected in the FinancialForce general ledger are always accurate and up to date. This is because cash receipts in accounts receivable and disbursements in accounts payable are immediately reflected in the cash accounts in real time. You always know where you stand.

Finally, cash forecasting is an intuitive and natural byproduct of FinancialForce Accounting’s single ledger. Because the system is holistic and not bound by individual software modules such as payables or receivables, you can easily see cash inflows and outflows across the entire system, including exposure by currency sorted by due date.  Cash forecasts can also be enhanced by including future sales. This can be done by combining the opportunity pipeline from Salesforce CRM with current receivables and factoring new business based on historical patterns seen in FinancialForce Accounting.

In short, FinancialForce Accounting provides unprecedented abilities to predict future cash flows and manage your working capital.

Highlights

• Set up multiple bank accounts in different currencies
• Record receipts from your customers and refunds issued
• Record one-off payments to vendors and refunds to/from vendors
• Reconcile FinancialForce transactions against those on your bank statement in order to uncover any possible discrepancies
• Record bank charges and interest shown on your bank statement

Read more about Cash Management