Founded in 2003, BCD is a full service electronics ODM (Original Design Manufacturer) providing sketch-to-shipment solutions to clients worldwide. With offices in San Francisco, Hong Kong and China, Blue Clover specialize in power, wireless, and especially emerging IoT (Internet of Things) product design and manufacture.
Products in Use: FinancialForce Accounting
Company size: Medium
Industry: Business Services
Using FinancialForce Accounting and FinancialForce HCM has saved us about three to five business days in the monthly close process, allowing us to refocus on the analysis of our financials and operations, rather than just getting numbers together for reporting purposes.
Eddie Chen, CFO
- Global business, yet lacked multi-company and multi-currency functionality. Consolidating financials across global locations was extremely time-consuming and difficult
- Too much time spent on number crunching rather than analyzing and acting on information
- Month end close involved manual consolidation of financials and still only 80-90% accurate with no variance analysis
- Quickbooks unable to track things like profit margins and project profitability. Revenue reports were out of date as soon as they were produced meaning it was too late to take action
- Team on manual processes overload. Onboarding new employees, managing vacation requests, performance evaluation were all time-consuming, painful processes
FinancialForce has greatly improved our ability to act as one global team with more engaged employees and ultimately happier customers and better business results.
Benefits & Results
- Revenue reports now easily generated and viewed by Sales weekly. Drives more growth and allows action to be taken should any projects go off track
- Company wide understanding of key business performance metrics such as margins, revenue etc
- Month end close now 3-5 business days faster due to real-time information at fingertips
- FinancialForce Accounting allows Blue Clover to move from cash to accrual based accounting
- Supplier payments process now automated saving 4 days per month
- Everyone has better understanding of product costs and impact on bottom line
- HR system provides valuable information at month end close e.g vacation requests and sick days for payroll purposes
- More purposeful collaboration across teams