Founded in 1979, Seagate is the leading provider of hard drives and storage solutions that help people to store, share and protect their valuable digital content. The company offers the industry’s broadest portfolio of hard disc drives, solid state drives and solid state hybrid drives as well as an extensive line of retail storage products for consumers and small businesses. Seagate Recovery Services help you migrate, restore and optimize your data quickly and affordably. They allow you to easily get your lost files back from your desktop, laptop or tablet. Seagate employs more than 50,000 people around the world. 

Products in Use: FinancialForce Revenue Management; FinancialForce Billing

Company size: Large

Previous system: Homegrown

Location: Global

Industry: Business Services; IT Services

Our customers range from NASA to your next door neighbor. allowed us to integrate Salesforce seamlessly and keep our finances close to each business transaction. Because of FinancialForce, we have saved time and money and can now focus on customer service rather than collecting revenue.

Paul Steele, Senior Director

Business Issues

  • As an acquired Seagate company, Recovery Services Business Unit was challenged by Seagate’s financial system as it did not integrate easily with Salesforce CRM
  • Needed to move from a cash to an accrual based accounting system
  • Unable to report on real-time performance of business
  • Revenue management and forecasting was painful, making it hard to gauge health of business and make adjustments
  • No visibility into status on invoices, payments, leaving customer-facing staff in dark
  • Billing process was slow and inconsistent due to lack of CRM integration
  • Too much resource time was focused on chasing revenue, not on customer service

Benefits & Results

  • Billing Process now fully automated: once activity closes, system automates an invoice, tracks cash payment status, and records it into master ledger
  • 30% cost savings now realized through seamless integration of finances with Salesforce CRM
  • Average “Time to dollar” figure has been reduced to 14 days from 42 with prior system Saving .25 million/year on IT costs thanks to reduced administrative spend, better use of time for employees
  • Now finishing period close in less than 5 days, down from 11
  • Able to recognize revenue on an accrual basis
  • Financials are kept close and tied directly to business transactions instead of IT administrative tasks
  • Compliance with strict corporate financial standards has been seamless due to FinancialForce Billing’s tight controls built into the system
  • Leveraging built-in reports that provide big picture financial statements, detailed transaction reporting, activity volume, what’s outstanding or more; teams can raise red flag sooner
  • IT team can customize application faster thanks to the Salesforce “configure before code” environment; enhancement requests addressed quickly and deployed twice as fast
  • Customer service and customer satisfaction now top priority, with teams focused on the service call rather than managing multiple systems in the background