Fending off FrankenCloud: Making the switch to FinancialForce PSA
In case you missed it, last week Oracle announced their decision to acquire NetSuite and we had a thing or two to say about it. The main takeaway from this acquisition is that NetSuite customers should now seriously be concerned about being sucked into an even bigger FrankenCloud – AKA another cloud technology stack and another set of ERP and CRM apps. If Oracle’s track record is any indication, NetSuite customers may have short-lived future on the horizon.
So in timely fashion, and similar to last week’s recap of FinancialForce Financial Management customers who moved from Sage, we thought this was a perfect moment in time to revisit a few of our highly successful FinancialForce Professional Services Automation (PSA) customers who made the right move from NetSuite OpenAir and quite possibly dodged a FrankenCloud sized bullet.
Benefits of FinancialForce PSA, as Told by Customers
Prior to FinancialForce, Emergo, a business that provides regulatory consulting to medical device manufacturers in over 20 international markets, was using OpenAir, and following a company-wide process mapping exercise, they identified NetSuite’s PSA solution as a bottleneck to their growth. Because the system required client data to reside in multiple locations, Emergo constantly ran into reporting issues, inaccuracies and it didn’t support efficient scaling.
Seeing the value of having all their client and project data housed on one platform – the Salesforce platform – Emergo selected FinancialForce for its flexibility, scalability and configurability. Since implementing FinancialForce, Emergo has been able to eliminate issues that were associated with OpenAir data integration and finally have a single view of their customers. They can now provide management with global insight on resources, current capacity and project forecasts to know where adjustments should be made, where additional resources should be brought on and predict where resources will be needed next.
Dallas based professional services firm BRG had been using NetSuite OpenAir to manage their project resources and consultants but as the organization entered a period of rapid global expansion, their systems could no longer keep up or support scaling efficiently. Because they had different systems in place for services and financials with no linkage between project data and financial data, reporting was painful and time consuming and the team had no visibility into project performance, employee performance, utilization or margins.
After moving both financials and services to FinancialForce and the Salesforce Platform, BRG’s resource management is more precise. They no longer have to hire last minute contractors, returning dollars directly to the bottom line and can predict margin slippage early in the process. Not to mention, since all their client and project data in connected, they no longer have to manually enter data and reporting is easier and faster than ever before.
Avid provides technology and services for video and audio production, broadcast, live sound, shared storage, and more – and has been recognized with numerous awards, including two Oscars®, a Grammy®, and 14 Emmys®. Prior to FinancialForce PSA, They were using NetSuite OpenAir to manage services projects which proved inefficient to handle resources, data, billing, in addition to lots of costly customization. There was also a slow adoption rate with consultants – therefore, customer relationships suffered because project teams did not have real-time information on the state of projects.
After implementing FinancialForce, Avid has completely transformed their services productivity and customer satisfaction rates. Having true visibility into resources and projects, Avid reduced contractor spend, and now utilizes employees better. With FinancialForce PSA, Avid’s timecards, expenses and billing management processes have gone from “scrambled to lifesaving,” and finance now has visibility across projects allowing for better control and management of the revenue position within a quarter.