FinancialForce Identified by SPI Research Annual Survey as Most Adopted Financial Management Solution by Professional Services Organizations
AMSTERDAM – March 7, 2019 – FinancialForce, the #1 Enterprise Professional Services Automation (PSA) and only customer-centric ERP cloud solution native to the Salesforce platform, has been recognized as the most widely used Corporate Financial Management (CFM) solution in SPI Research’s 2019 extensive annual survey, the PS Maturity™ Benchmark. The FinancialForce customer-centric ERP solution is used by 19 percent of the PSOs that that participated in the survey.
The SPI Research annual survey recognizes the Best-of-the-Best professional services organizations (PSO), as well as highlights business applications that help PSOs optimize operational effectiveness through increased visibility, streamlined business processes and cost management.
According to SPI Research, all 2019 top performing PSOs have deployed a commercial finance and accounting solution which is partially integrated with their PSA application for billing and revenue recognition. FinancialForce customer-centric ERP is the leading solution used by PSOs that participated in the survey.
The FinancialForce Enterprise PSA solution was also recognized as a clear leader in the report, having been adopted by 32 percent of the firms surveyed, compared to eight percent by the nearest competitor.
“Seamless integration between the system of record (PSA) for managing resources and projects and the financial management solution for payroll, expense management, invoicing, revenue recognition and project accounting is critical,” said Jeanne Urich, managing director at SPI Research. “As the world economy has shifted to a new “as a service” mindset, today’s accounting, CRM and PSA systems must support a whole new range of contracting, pricing, staffing and billing models. The new breed of cloud-based project-based ERP vendors, like FinancialForce, have built in support for multi-element contracts and subscription billing from the get-go.”
“In the new services economy, the businesses that thrive today are those that can swiftly identify new opportunities and quickly act to meet customer demands,” said Bennet Yen, vice president, Product Management at FinancialForce. “Combining the FinancialForce Financial Management and PSA solutions allows businesses to positively impact their growth and productivity by enabling them to be hyper-focused on their customers.”
More information on SPI Research’s 2019 PS Maturity™ Benchmark can be found here.
FinancialForce delivers the #1 professional services automation (PSA) and the only customer-centric ERP. We accelerate business value with comprehensive best practices and the most intelligent analytics — all on the leading business cloud platform from Salesforce. Founded in 2009 and headquartered in San Francisco, FinancialForce is backed by Advent International, Salesforce Ventures and Technology Crossover Ventures. For more information, visit www.financialforce.com.
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Vice President, Global Communications