Sciemetric products and technology help manufacturers meet their production goals from reducing costs to improving manufacturing quality to meeting yield targets.
The consistently growing company is able to manage the financial landscape without adding accounting staff thanks to FinancialForce ERP. With financial and CRM information on the same cloud, they can quickly surface meaningful data to better understand profitability and forecasting and how to adjust appropriately.
The biggest plus to me on FinancialForce is the organization behind FinancialForce. I can call my regional sales manager or my customer success manager and I can get action. If I see a problem or if I have a suggestion, the suggestions get listened to and sometimes they actually get implemented. They are extremely customer focused.
Don Silverman, CFO
- Consolidating multiple subsidiaries and currencies was problematic—every month
- Disjointed systems created double data entry, numerous errors, reconciliation issues, lack of reporting, exporting/importing data painful—all issues associated with Accpac not connected to Salesforce
- Exec team had no real-time data from which to make critical decisions—previous system took 20 days past month-end to produce data. Doesn’t work for a growing business!
Sciemetric Instruments has grown by about 30% CAGR in the last 5 years. With other accounting systems, we'd be bursting at the seams. We've been able to handle all the transactions in a company that's doubled staff in three years without growing the accounting staff. From a productivity perspective and a KPI perspective, we rock.
Don Silverman, CFO
Benefits & Results
- Several solutions claim to have links to Salesforce, but only FinancialForce ERP demonstrated it could connect all pieces of the business and synchronize data on the single cloud platform from Salesforce
- Sciemetric now has a complete set of workflows connecting processes across the business: AR, AP, order processing and purchasing. They have eliminated paper, data entry errors and allowed team to be more efficient with less staff—during a high growth phase!
Better visibility equals deeper Analysis
- A single Cloud provides an end-to-end view of the finances—enabling deeper analysis for profitability and forecasting
- The general ledger is connected to a sales order, which is connected to an invoice, which can be traced right back to quotes and to opportunities. Keeps the focus on where the profits are
- Exec team now has real-time access to dashboards and metrics. If a business unit is lagging, no need to wait a month and a half to see that. Can get the business unit back on track faster
- No need to embed a “next level" analysis or maintain a huge chart of accounts. The uniqueness and flexibility of FinancialForce dimension codes allows finance to analyze the business by cost centers, countries, business units, etc
- More visibility at the transaction level makes managers much more aware of the financial ramifications of their actions, which drives more accountably—leads to better customer service and in the end, better cash management
Metrics Making a Difference
- DSOs decreased from 90 days to 65 days thanks to account visibility and teams knowing when, and when to not call on customers. Growing company getting cash to come in faster!
- Now closing books within 10 days, as opposed to 20 days—100% faster than the previous system. Significant savings in time and a huge productivity gain for the business