Have you experienced integration issues between your modern CRM system and outdated, legacy financial system? Don’t worry, you’re not alone, and good news, there is a solution that can help quickly eliminate these inefficiencies – integrating on one single platform!
To learn more about the pay-offs of front-to-back office integration Holger Mueller, VP and Principal Analyst at Constellation Research spent time with a FinancialForce.com customer, Venture Technologies, a systems integrator company that had an integration problem between their aging financials system and Salesforce CRM. As a quickly growing VAR for enterprises like Cisco, HP and EMC, Venture Technologies’ legacy accounting solution (which they had used since the 90’s) was never truly assimilated with Salesforce CRM, resulting in manual re-keying of important data like order lines which proved to be extremely costly and time-consuming for employees. Further, the company often ran into errors due to the manual entry processes.
Venture Technologies ended up replacing their accounting system with FinancialForce Accounting and FinancialForce Supply Chain Management (SCM), which integrates directly with Salesforce CRM as they are built directly on the Salesforce1 Platform.
Venture Technologies found that by integrating financials and CRM onto one single platform, the company has greatly improved visibility for both finance and CRM users and improved customer processes and reduced Days Sales Outstanding (DSO) by 10 days to 35 days. The company also achieved 40% savings in finance department headcount and dramatically increased reporting quality.
After digesting Venture Technologies’ integration success story, Holger shared several recommendations for the many enterprises who are in similar situations – those that are stuck with varying, disconnected systems. Recommendations for CXOs about integration of systems include:
- Determine the extent of integrations needed
- Establish integration costs
- Plan for integration budgets
- Monitor continuously
- Take bold action – if necessary
To read Venture Technologies story and recommendations for integration in detail, please download a copy of the case study here from Constellation Research.