Challenges chasing revenue
Initially, Seagate's IT Recovery Services division was challenged by the enterprise's existing financial system, which didn't integrate easily with Salesforce. Billing processes were slow and inconsistent, teams were unable to report on real-time business performance, and revenue management and forecasting was painful-making it hard to gauge business health. Too much resource time was focused on chasing revenue versus customer service. Instead, teams needed a financial system that could fit seamlessly into their existing Salesforce workflows.
- 30% Annual cost savings
- .25M Reduction in IT costs
- 67% Decrease in avg "time-to-dollar"
FinancialForce's tight Salesforce integration frees teams to keep their finances closely tied to business transactions. Now, Seagate employees can recognize revenue on an accrual basis and easily stay compliant using built-in system controls.
By leveraging built-in reports that provide big picture financial statements, detailed transaction reporting, activity volume, and more, teams can now raise red flags sooner and make smarter real-time decisions.
IT teams can also customize the application faster thanks to the Salesforce "configure before code" environment; enhancement requests are now addressed quickly and deployed twice as fast.
Since shifting to FinancialForce, Seagate's billing processes are now fully automated and recorded back to the master ledger. The global enterprise has seen 30% cost savings since integrating its finances with Salesforce, a reduction in average "time to dollar" from 42 to 14 days, and saved .25 million in annual IT costs. Period close has also been reduced from 11 days to 5. Customer satisfaction is now top priority at Seagate, with teams honing in on the customer interaction at hand, versus managing multiple systems in the backend.