Elastic automates and improves core business processes with FinancialForce

See how Elastic—provider of real-time, scalable enterprise search, observability, and security solutions to organizations including Cisco, The Mayo Clinic and Verizon—drives business to new heights with FinancialForce PSA.

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24


Currencies in 40+ countries
in a single view

10X


Increase in projects managed simultaneously

96%


Automated, controlled cash,
flow process

CHALLENGE

HANDLING RAPID GROWTH

Since the release of Elasticsearch in 2010, Elastic's products and solutions have become popular for thousands of organizations worldwide. The company behind it rapidly ramped up, growing from 180 to 2,000 employees in five years. Elastic’s consultants and trainers often work with multiple customers simultaneously on a range of project types and scopes. As business boomed, the company needed to efficiently match consultants to projects and keep track of customer engagements, timelines, and revenue in spreadsheets. Elastic sought a powerful, efficient way to manage its consulting practice.

SOLUTION

SCALING WITH CONFIDENCE

New business insights

FinancialForce Professional Services Automation (PSA) integrates natively with Salesforce, the platform central to Elastic’s business. Calling upon this single source of truth, the company uses FinancialForce to understand business performance and growth by markets, verticals, and customers in real time. Employees also generate granular insightful reports through Salesforce via FinancialForce PSA.

Single customer view

With FinancialForce plugged directly into Salesforce, Elastic has one centralized view of customer data, helping the company more quickly and effectively coordinate the right resources across all its teams. The engagement management team can segment professional services by geographies and correlate skill sets to meet the needs of each customer. At the same time, Elastic is empowered to combine consulting and training, helping drive training time with customers from weeks to days. Overall, the company can more confidently and quickly drive revenue.

Project and revenue management

In addition to scaling with the company’s incredible growth, FinancialForce helps Elastic accurately track projects and recognize revenue. This extends to viewing backlog and incoming demand as well as determining financial situations by location, empowering the company to make smart hiring decisions. For a company conducting business in over 40 countries and 24 currencies, the ability to manage financials efficiently and accurately in a single system has been a game changer.

RESULTS

TAKING BUSINESS TO NEW HEIGHTS

Elastic has been impressed with FinancialForce PSA’s out-of-the-box functionality and evolution. This allowed the company to meet immediate business needs and scale to satisfy increasingly complex business requirements. With FinancialForce, Elastic has automated a significant portion of its project process, from kickoff to resource assignment to progress tracking. The proof lies in the fact that a single project manager can now handle 200 projects simultaneously – 10X more than in the past.

“It is important for us as a growing business to have FinancialForce. There are plenty of applications we’ve outgrown but FinancialForce continues to be the backbone of our services.”

Thom O’Connor
VP of Services, Elastic

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Trusted by customers big and small

FINANCIALFORCE

Ready for modern ERP?

FinancialForce is the leading cloud ERP for the new services economy. The #1 ERP native to the Salesforce platform, FinancialForce unifies data across the enterprise in real-time, enabling companies to rapidly evolve their business models with customers at the center.

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G2 Professional Services Automation Report

Uncover why FinancialForce is once again ranked #1 on the Fall 2020 PSA
reports from G2, the world’s leading business solutions review website

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