Seagate saves 30% in annual costs with FinancialForce

See how the leading provider of hard drives and storage solutions reduced IT costs by $.25M and decreased its average “time-to-dollar” by 67% with FinancialForce Accounting, Revenue Management, and Billing.

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30%


ANNUAL COST SAVINGS

.25M


REDUCTION IN IT COSTS

67%


DECREASE IN AVG “TIME-TO-DOLLAR”

CHALLENGE

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.

SOLUTION

FINANCIALS IN FULL COLOR

Tighter compliance controls

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.

Vivid reporting

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.

Constant platform innovation

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.

RESULTS

30% IN ANNUAL COST SAVINGS

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.

“We now have complete end-to-end visibility into our finances.”

Paul Steele
Senior Director, Seagate

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