For over 25 years, Terrapinn has been a world leader in business events and training. Terrapinn curate events that stimulate the brain, spur creativity and facilitate meeting. Their conferences are major industry gatherings focusing on strategy, innovation and technology and their trade exhibitions are marketplaces for global business.

Terrapinn operates from a network of offices in London, New York, Singapore, Sydney, Dubai and Johannesburg. This gives Terrapinn events a global reach and truly international perspective.

Products in Use: FinancialForce Accounting

Company size: Medium

Previous system: SAP ByDesign

Location: Global

Industry: Business Services

AppExchange Rating: AppExchange rating 4 stars
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We were looking for a system that integrated with Salesforce, was cloud based and also simplified the consolidation of our group's results. Implementing FinancialForce achieved these goals and has greatly improved the ease at which we can analyze and report on the group's financial performance.

Andrew Ewer, CFO

Business Issues

  • Multiple spreadsheets led to manual errors and a distrust of information
  • Pulling data together for reporting purposes was time consuming
  • Preparing for meetings was painful with out of date information being used to make critical decisions
  • Working with 2 sets of numbers - those held in Salesforce and those held in SAP
  • Project Managers would contact customers with questions because they couldn’t see information in the system and didn’t always realise they were working from outdated information
  • Year end audit was run using SAP servers around the world creating disjointed processes and time consuming, tedious work; proved to be proved painfully inefficient
  • Preparation of the year end pack was a painful process involving consolidation of multiple spreadsheets into journals which could be sent to head office
  • Unable to track and report on uninvoiced opportunities - events booked in advance and subject to other event performance or events booked but not ready to be invoiced
  • Invoices produced manually and had to be checked for errors

Benefits & Results

  • With FinancialForce Accounting working with Salesforce CRM, they now have one unified system with a single database, single log-in, and single reporting engine
  • Each morning Finance Director can easily look at pipeline of events and global cashbook on a dashboard and drill down into information to identify any issues
  • Invoices are created from an opportunity in Salesforce, minimizing time spent checking information
  • Meetings are quicker and more focused with everyone looking at the same information - no preparation time required
  • Year end audit now much easier with all information consolidated and pulled from FinancialForce Accounting saving several days per year
  • Any changes to data held in the system can be made easily without affecting numerous spreadsheets
  • Now can see a report on dashboard for all un-invoiced opportunities which has sped up post event billing
  • Can ask for payment within agreed payment terms where any Manager can spot an issue and and take action if needed
  • Collections have improved due to faster billing and better risk management - at a glance visibility into unpaid events means that Terrapinn can be proactive in ensuring all payments are in before the event
  • Because FinancialForce Accounting links directly to bank account,bank statements can be uploaded and payments made automatically
  • Global ledgers can be looked at from any location and workloads distributed equally across offices
  • Discussions are more informed because the Terrapinn team have a clearer picture of where they are spending money, margins on events etc
  • Client contracts and supplier contracts are now accessed from one screen using a single log in
  • Approx £50k - £70k savings per annum just by switching from SAP servers to a cloud based system and through efficiencies delivered by FinancialForce Accounting
  • Managing Directors can now focus on value added activities instead of spending all their time in meetings and preparing for those meetings