Venture Technologies - PSA

Venture Technologies, Inc. is a premier IT Solutions Provider. Venture specializes in Cisco systems, EMC, VMware and other manufacturers that provide high-end network solutions to their customers. They pride themselves on meeting the demanding needs of a changing technology landscape and delivering an unmatched level of customer support.

Customer service is #1 priority at Venture Technologies. Having FinancialForce PSA gives Venture one point of customer record allowing them to take service delivery and customer satisfaction to a whole new level. A single pane of glass visibility from opportunity to invoicing means that Venture can better meet customer expectations and deliver what they promise

Business Issues

  • Custom solution built in-house had limitations that prevented organization to scale and grow
  • Existing solution was unable to predict revenue accurately or allocate resources effectively
  • No visibility into the opportunity pipeline made it hard to plan resources
  • Utilization rates were hard to predict and monitor
  • Manual nature of systems meant customer communications were irregular and disjointed
The great thing about FinancialForce is we can see from an opportunity all the way through invoicing. Kim Ware, EVP Professional Services

Benefits & Results

  • Complete visibility from opportunity to invoicing means that Venture can better meet customer expectations and fulfill any promises made down the line
  • Services team now linked into the sales cycle, allowing customer expectations to be set appropriately and/or team to better plan and prepare
  • One-stop shop for Project Managers–all documentation e.g. the statement of work and bill of materials are attached to the project, allowing for a new level of engagement with customers
  • Crystal ball for resource availability allows the Venture sales team to set correct expectations at project kick-off and deliver on promises to customers
  • No more services teams arriving before products! Can now predict product delivery to align with service delivery keeping project schedules on track
  • Highly predictable forecast allows finance to keep a tight watch on services engagements: if revenue is slipping what project can be pulled forward to replace it
  • Real-time and accurate reporting of utilization makes sure engineers aren’t over/under worked, all while keeping a high 80% utilization rate
  • Put the best people on the right job–PSA allows Venture to match roles and experience with project requirements through use of a skills matrix
  • Tracking all costs associated with a project helps feed predictive analytics for future project costs
  • Arming services team to generate change orders directly from the project makes sure all work hours are counted and margins are preserved

The ERP Connection

  • Thanks to the tight integration of FinancialForce PSA with procurement and finance data, Venture now has more detailed and accurate billings across hardware, software and services delivery
  • Finance benefits from PSA with one-click integration between quoting and procurement to create projects
  • No longer linking databases together to get a complete picture of project profitability. PSA allows Venture to track all of the cost factors that go into a project that is harmonious with the general ledger. Powerful in capturing and predicting how future engagements will go
Our account managers and our project managers have a one-stop shop to see everything that was reviewed with a customer, so that when we're making promises to the customer, we're able to deliver on those promises. Kim Ware, EVP Professional Services

Just a friendly reminder
on Rev Rec ASC 606/IFRS 15

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