It’s thyme for a better financial management recipe
Like any software vendor, we work with businesses who are fed up with their current ERP solution and need an upgrade. In a perfect world, the technology that we invest in should enhance the overall flavor of how a business runs, not diminish the quality of customer service and productivity, right? Prior to FinancialForce, our customers were typically dealing with disparate, over-seasoned systems that created more work and more complex processes over time. Check please!
If you couldn’t tell, we’re feeling a little spicier than usual this week. With the Sage Summit happening in Chicago, we thought it would be fun to revisit some of our highly successful customers who moved their financials from Sage to FinancialForce. What were their business issues that left them feeling salty and what benefits did they achieve afterwards?
Switching from Sage to FinancialForce
Prior to FinancialForce, Ottawa based manufacturing technology company Sciemetric Instruments, Inc. used Sage to manage their accounting and financial management processes. According to Don Silverman, CFO of Sciemetric, their previous system provided the company with a painful, disjointed system that brought duplicate data entries, numerous errors, reconciliation issues and didn’t even allow for basic reporting. Because they didn’t have a single view of the business nor easy access to information, Sciemetric executives were not confident in the data needed to make critical decisions. For a rapidly growing business like theirs, they needed to find a new solution that wouldn’t hinder success.
Sciemetric was initially attracted to FinancialForce as a true native application on the Salesforce platform. While other solutions claimed to have links to Salesforce, only FinancialForce ERP demonstrated it could connect all pieces of the business and synchronize data on the single cloud platform from Salesforce. Now, Sciemetric has eliminated paper, data entry errors and has allowed the team to be more strategic and efficient. And if that wasn’t enough, Sciemetric is now closing books within 10 days, as opposed to 20 days with Sage!
Premier IT Solutions Provider, Venture Technologies, had been using a combination of Sage and Excel to manage finances before selecting FinancialForce. As R.J. Smith, VP of Finance at Venture Technologies described, their previous solutions caused problems across the organization, mainly due to the lack of data visibility. Because there was no true CRM integration, Venture Technology’s IT team struggled to accurately connect data which compromised customer service levels.
Since moving to FinancialForce ERP, the finance team at Venture Technologies has been enabled to truly focus on customer success versus spending time on manual data entry and fixing reports. After bringing their ERP to the Salesforce platform, Venture Technology has maintained 15% year over year growth, while at the same time reducing overhead costs related to finance and accounting by 30%.
Before using FinancialForce Financial Management, NewVoiceMedia, a global sales and services communications platform (also built on the Salesforce platform) used a combination of Sage, Midas and Excel. This accounting trio resulted in reporting that took 3+ weeks and period close was a grueling, extended process with data being pulled from 3 separate systems. Justin Wheatley, RVP Financial Systems at NewVoiceMedia said
“We needed a system that could scale with us as we continue rapid growth and one which allows us to truly see a whole picture of our customers, combining the information we already house in Salesforce.”
FinancialForce has done just that for the organization. In fact, NewVoiceMedia is now recognizing monthly revenue in just 1.5 days and month end close happens 1-2 days faster than with Sage.
Read their full case study here.
So, whether you’re a Sage customer or not, it may be time to re-evaluate your financial management solution. We’d love to hear from you!