Methods drives digital transformation with FinancialForce ERP
“We've automated 95% of our finance functions-from the moment a timesheet is approved all the way through to recognizing revenue.” Stephen Horrocks, CFO, MethodsDownload PDF
Disparate reporting systems
As the business grows, Methods' finance personnel must produce a growing amount of increasingly complex financial information. Without the right technology, this becomes a tremendous burden that creates enormous stress. Methods' finance team was producing multiple reports on spreadsheets, based on information pulled from disparate systems used for CRM, financials, reporting, and forecasting. Stephen Horrocks, CFO at Methods, knew the company had to transform the way it managed financials, enabling more automation while sharing richer information across the business.
- 40% Reduction in finance back office costs
- 95% Automation of finance functions
- 70% Reduction in project administration
Automating a series of accounting transactions has enabled greater control over contractor management and associated costs. At the same time, Methods has accelerated billings by two weeks while gaining better insight into project profitability and cost.
With FinancialForce ERP natively built on the Salesforce platform, Methods has full visibility into its end-to-end financial processes, from the moment an opportunity opens until the company recognizes revenue and costs.
Because FinancialForce ERP empowers Methods to link information previously shared in a large number of dispersed spreadsheets, the company can rapidly access information needed to strategically manage and deploy resources for its professional services.
"With FinancialForce in place, we've been empowered to fully integrate our processes, enabling us to realize significant benefits across our business," explains Horrocks. These include improved insights around P&L, project profitability, staff performance, and utilization, resulting in a two-week reduction in the billing cycle and 40% reduction in finance back office costs. "The pace at which we saw results from FinancialForce ERP has changed the way we run our business and improved performance significantly. It has enabled us to focus further on business growth as well as cope with shifts in our business model so we can adapt quickly in the new services economy," concludes Horrocks.