FinancialForce springs into next phase of growth

FinancialForce springs into next phase of growth

Sarah Johansen
Tags: finance, Innovation, news, services

It’s already been an amazing year for FinancialForce and the world of customer-centric ERP. Not only did we announce the opening of our New York City office yesterday, but we also announced the 2018 Spring Release of FinancialForce Financial Management, Professional Services Automation (PSA), Billing, and Revenue Recognition. This release is designed to help our customers flourish in the everything-as-a-service economy by blending multiple revenue streams, optimizing for dynamic service delivery, and quickly acting on business signals.

A new “Force” in NYC

The new New York office puts FinancialForce in the financial capital of the world, opening opportunities to more closely serve customers in key markets as well as cultivate and recruit top talent. The office opens on the heels of a marquee year for FinancialForce, and expands our global footprint, which includes offices in North America, United Kingdom, Spain, and Australia.

Spring releases for the new services economy 

In the new services economy, all organizations must be able to act quickly to secure long-lasting customer relationships, increase revenue, and grow business. Our Spring 2018 Release is aimed at helping organizations do just that. Each one of our apps is architected around the customer lifecycle, connecting the entire opportunity-to-renewal process on a single platform to help businesses delight customers and build retention. Here are some highlights:

Accounting: Streamlined payments and self-service experience

The Spring release of FinancialForce Accounting introduces Payments Plus, which completely reimagines the accounts payable and payment processing experience. Streamlined data entry using a wizard-driven, shopping cart-like user interface (UI) makes the experience highly intuitive, enabling accounts payable specialists to be more productive and reduce errors.

PSA: Dynamic, predictable service delivery

This latest release of PSA empowers services organizations to run the business with greater predictability than ever before. You get actionable, 360-degree visibility across sales pipeline and unscheduled backlog based on actual delivery schedules for complete business insight. New resource optimization capabilities help you reduce the time from staffing a project to delivering the first billable hour. Other key enhancements include more granular, streamlined resource mapping and added shift management capabilities for managed and technical services.

Billing: Deploying unlimited revenue models

Our subscription and usage billing management solution now allows you to deploy various, complex-charge models with greater speed and configurability. You can automate complex proration calculations and adjustments for stronger pricing capabilities when subscription services are added mid-term.

It also includes Financial Management Community, a self-service customer account portal where your customers can view and manage their own subscription and usage-based services. They’ll get a unified self-service billing and payments experience across any number or variety of contracts and services.

Rev Rec: ASC 606 and IFRS 15 just got easier

The new revenue management release automates the revenue recognition processes for any combination of product-based, subscription, SaaS, and usage-based business models, creating a central place for all revenue-related processes and reporting. It also provides new support for companies transitioning to the new ASC 606, IFRS 15, and AASB 15 revenue recognition standards. Finally, it supports both current and new standards, and includes transition tools for either full or modified retrospective approaches.

Everything about the FinancialForce Spring 2018 Release supports our product vision to help organizations thrive at speed in the everything-as-as-service economy. We encourage you to see for yourself and sign up for a personalized demo here.

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