FinancialForce Services Resource Planning (SRP) connects CRM, PSA, and accounting; Top 5% services firms report profitability gains from connecting sales and service
San Mateo, CA, March 14, 2011: FinancialForce.com, the cloud applications company, today launched FinancialForce SRP, the first complete Services Resource Planning (SRP) solution built entirely on Force.com. Combining Salesforce CRM, professional services automation (PSA), and accounting, the solution helps services companies sell, deliver and bill projects collaboratively while leveraging the scalability, flexibility, and TCO advantages of the world’s leading cloud platform.
Professional services firms have traditionally been underserved by the various point solutions available on the market. Lacking effective end-to-end solutions, services organizations are left to address different parts of the project lifecycle through separate, siloed applications: CRM to manage sales, PSA to manage people and project portfolios, and accounting products for billing, accounts receivable and project accounting.
The impact of a siloed approach on utilization and profitability was exposed in a recent study by Services Performance Research titled: The 2011 Professional Services Maturity Benchmark. The authors surveyed 214 professional services organizations and analyzed firms against a maturity model which included metrics to measure the value of systems integration and real-time visibility. In the study, companies with integrated CRM and PSA systems reported higher bid/win ratios, higher project margins, higher utilization and higher revenue per billable consultant.
“We have already seen tremendous value from linking our CRM and PSA applications in Salesforce,” said Tom Link, CTO, Universal Mind. “It provides the entire company with better insight into our customers and the services we are providing to them, rather than the fragmented view of customers, projects and resources many services organizations struggle with today. The addition of a cloud accounting application that also ‘speaks Salesforce’ will deliver further visibility and efficiency benefits. These business activities are dependent on one another and cannot truly be synergistic and collaborative without connected systems that mirror the way we work.”
“There’s a real need in the market for a complete SRP solution,” said Scott Guinn, Research Director, Enterprise Applications at IDC. “An end-to-end solution on the Force.com cloud platform can deliver compelling benefits to services companies, particularly those who don’t have their Salesforce CRM system well integrated to PSA.”
As the only end-to-end solution for services companies on the Force.com cloud platform, FinancialForce SRP closes the loop between sales, project delivery and accounting. FinancialForce.com applications share the same secure, scalable Force.com platform as Salesforce CRM, enabling services companies to run all of their core systems on a single solution with common customer account records, user interface, login, workflow engine, and reporting tools.
Organizations gain visibility and actionable insight by seeing all activities related to a customer on one 360° account view, including activities from sales, professional services, billing, and accounts receivable. Processes flow seamlessly from sales through project management and services delivery to accounts receivable and general ledger; an optimized process for invoicing and receivables speeds payment and maximizes cash flow.
“Professional services organizations need to focus their attention and resources on selling and delivering services, not wrestling with technical integration or administrative burdens,” said Todd Bursey, General Manager, PSA at FinancialForce.com. “With our SRP solution, FinancialForce.com is making it possible for the first time for these companies to leverage the full power of the Force.com platform to optimize their businesses.”
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FinancialForce.com is the cloud applications company. We focus 100% on building business applications for Force.com, the world’s leading cloud computing platform from salesforce.com. Our applications include Accounting, Billing, Professional Services Automation (PSA) and Services Resource Planning (SRP). We serve fast-growing organizations and dynamic enterprises, helping them to align Finance, Sales and Service in a way that enables profitable growth. We are backed by two of the biggest and best players in the business, UNIT4 and salesforce.com.”
To learn more please visit www.FinancialForce.com.