FinancialForce.com Delivers New Self-Service Finance Portal to Improve Customer Loyalty and Cash Flow

San Mateo, CA., November 9, 2010: FinancialForce.com, the global leader in online cloud accounting solutions built natively on the Force.com platform from salesforce.com, today released ‘My Account’, extending the benefits of the Salesforce Customer Portal. Using My Account, FinancialForce Accounting users can securely publish billing and payment activity for their customers on a Salesforce Customer Portal.

My Account enables businesses to provide their customers financial self-service, 24 hours a day, adding a financial dimension to a company’s overall customer relationship management strategy. With My Account, these customers can view outstanding invoices, purchasing history, payment status and download invoices electronically. It provides a transparent view of the financial relationship between customer and supplier, increasing customer satisfaction while reducing a finance department’s workload.

‘We are saving time through automated invoice processing with FinancialForce Accounting and the self-service portal is a great add-on,’ said Tracy Howard, Controller at Wi-Fi Alliance. ‘As a membership organization it is important that we are clear and transparent in all our financial transactions. We are an early adopter of My Account, and it’s apparent that it will help us provide members with account status updates and encourage quicker payment of invoices. The portal provides the same intuitive user experience we have come to expect from FinancialForce.com.’

My Account addresses several of the issues that impact the management of customer-supplier relationships, including:

  • providing a common location for suppliers and customers to cooperatively resolve payment issues;
  • clarifying which invoices are due for payment;
  • eliminating the typical back and forth activities related to lost invoices and other invoice history requests;
  • enabling customers to elect to be notified when new invoices have been posted to the Portal, keeping them informed and encouraging prompt payment; and
  • improving Days Sales Outstanding (DSO) and cash flow while simultaneously reducing service costs and time spent dealing with payment disputes.

‘We see huge benefit in improving synergy and collaboration between the accounting, service and sales functions,’ said Jeremy Roche, CEO of FinancialForce.com. ‘We believe CRM should incorporate all aspects of a business relationship, including the financial relationship. My Account extends the financial and receivables views we currently provide to Salesforce CRM users to their customers. This leads to a more holistic and seamless service experience for the customer.’

– ends –

About FinancialForce.com

FinancialForce Accounting is the only online cloud accounting solution built natively on the Force.com platform from salesforce.com. Based on 30 years of financial application development, it allows finance teams of organizations using Salesforce CRM to truly ‘Speak Salesforce,’ dramatically simplifying processes like invoicing, cash collection and customer service. And FinancialForce Accounting’s real-time, international financials solution fully leverages the native integration with Salesforce CRM, providing up to the minute market knowledge and collaboration at the speed of social networking.

To learn more please visit www.FinancialForce.com.

Let’s talk: 1-866-743-2220