FinancialForce Increases Productivity for Five9, Resulting in Millions in Added Revenue
FinancialForce integration removes manual processes, speeds project times and improves billing efficiencies
SAN FRANCISCO, August 11, 2020—FinancialForce, provider of the only modern ERP suite and the #1 professional services automation (PSA), today announced that call-center software leader Five9 saved more than 30,000 hours of non-billable time and gained $2.5 million in revenue due to productivity increases since implementing FinancialForce PSA in mid-2019. The improvements also set the stage for Five9 to help its customers quickly transition to remote workforces during the COVID pandemic.
Five9 adopted FinancialForce PSA to meet the demands of a workforce experiencing 40% year-over-year growth, and to reduce staff time spent on non-billable activities that cut margin. Five9’s previous PSA had failed to scale and automate manual processes. The company chose FinancialForce PSA, natively built using Salesforce, for its ability to connect the front and back office to eliminate process gaps and data leakage. FinancialForce allowed Five9 to bring revenue and cost signals together for visibility that supports better decisions.
Professional services teams quickly adopted the solution as part of their daily work in Salesforce, and now use FinancialForce to create projects as soon as opportunities are moved into Salesforce. Teams calculate project length and can determine how to accelerate projects for efficiency, client satisfaction, and faster revenue recognition. Automatic integration allows data to flow through FinancialForce PSA into Five9’s billing platform. Employees tie to the expense platform so that their charges are automatically billed to customer accounts.
“As we near the one-year mark, we are amazed at how far we’ve been able to come with FinancialForce and can attest that their PSA solution is the right fit for a services and people-centric company like Five9,” said Tony Sorensen, Vice President and Head of IT at Five9. “We saved thousands of hours and millions of dollars within six months of going live. Not only are we now running a more predictable and profitable business, but we have enhanced our ability to be customer-centric.”
Agility during the pandemic
After the deployment, Five9 demonstrated the value of increased customer centricity when it managed an influx of customer projects related to the COVID-19 pandemic. When many of Five9’s on-premises customers suddenly had to migrate to the cloud to accommodate remote workers, customer requirements and complexity skyrocketed. Thanks to the agility gained through FinancialForce PSA, Five9 employees were able to rapidly adapt to the increased project load and solve customer problems efficiently and predictably.
VFP Consulting implemented FinancialForce PSA across all service divisions at Five9. “We are thrilled to have seen such tremendous results in revenue growth and productivity from FinancialForce PSA,” said Stephanie Picardi, CEO, VFP Consulting. “Our work with Five9 is an example of how we help clients use FinancialForce for their current imperatives but also so they can scale for future needs, as demonstrated by Five9’s ability to help their customers during the pandemic.”
“Five9 is a shining example of how companies can grow their business and deepen their value to customers through a PSA that connects their front and back office systems,” said Scott Bajtos, Chief Customer Officer, FinancialForce. “Furthermore, when the world changed, Five9 used the power of FinancialForce to quickly and efficiently shift gears to help customers with new needs while maintaining control of workforce capacity and profitability. Organizations that adopt customer-centric business models now are setting the stage for long term success.”
FinancialForce offers customer-centric business applications on the leading cloud platform from Salesforce. We accelerate business growth with the only modern ERP suite and the #1 professional services automation (PSA), enabling real-time insights and intelligent decision-making. See your customers in full color with Salesforce and FinancialForce. 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.