For over 25 years, Avid solutions have helped the industry’s leading professionals create and distribute the most listened to, most watched, and most loved media in the world. Ever since Avid led the revolution in non-linear editing over 25 years ago, the company has continued to invest heavily in research and development, and currently holds over 200 patents. The company provides technology for video and audio production, broadcast, live sound, shared storage, and more. The Avid solutions have been recognized with numerous industry and technology awards, including two Oscars®, a Grammy®, and 14 Emmys®.

Products in Use: FinancialForce PSA

Company size: Large

Previous system: QuickBooks; Netsuite OpenAir

Location: Burlington, US

Industry: Audio/Video Technology

FinancialForce helps us solve some of our most painful issues which is keeping up with the customers and keeping up with the constant state of change. FinancialForce is a flexible and powerful enough tool to allow us to do that effectively.

Business Issues

  • Previous system–Netsuite OpenAir–did not meet any of Avid’s needs from either a financial or operational perspective
  • OpenAir proved inefficient to manage resources, data, billing; and required large amounts of costly customization
  • OpenAir was also not easy for project teams and operations to use resulting in low adoption rates
  • Lack of visibility on project finances, time cards, billing and expenses drove profit margins down
  • Avid could not generate the types of reports and analysis that management needed to run the business and to make good decisions
  • Customer relationships suffered because project teams did not have real-time information on state of projects
  • Billing process was very manual with significant amount of spreadsheet consolidation and pulling data from different systems –proved “suffocatingly time consuming” and error prone

Benefits & Results

  • FinancialForce PSA provides greater visibility on project finances, improved utilization, increased profitability, and allows Avid to more closely engage with their customers at every stage of the service delivery process
  • PSA integration with Salesforce allows services teams to be more active at the sales opp level helping sales to build smarter, realistic project plans for clients
  • Now sales, services and finance can see exactly what’s going on across all spectrums of a project, so they can stay on track and engage with customers from cradle to grave–improving customer satisfaction
  • Deep reporting allows for better slicing, dicing and drill down of data to get the right analysis needed to better manage the business
  • New insight into projects allowed Avid to reduce contractor spend, and utilize employees better–producing an uptake in billable utilization
  • Real-time visibility allows group to spot issues and make quick decisions and adjustments on a project, whether that’s staffing, budgets, billing, etc.
  • With FinancialForce PSA, timecards, expenses and billing management processes have gone from scrambled to lifesaving
  • Out of the box features and functions have been easy to use and created quick adoption rates across the Avid team–something lacking with prior system
  • Finance now has visibility across projects allowing for better control and management of the revenue position within a quarter