Salesforce Accounting and Project Accounting apps for the financial services industry see sharp growth
FinancialForce accounting apps are rising in popularity due to a high degree of accuracy, automation and speed
Strong accounting practices, combined with an equally strong accounting app, is paramount to the success of any financial service firm. Money is the lifeblood of this industry, and individual financial service companies succeed or fail based on how they measure, organize and direct the constant flow of currency throughout the system. Accounting, of course, is at the forefront oft his directive, and the more accurate and transparent an accounting department is, the easier it is for the company to set goals for the future and take advantage of opportunities in the present.
To stay competitive, financial services companies must learn to accurately assess and adapt to their financial situation faster than ever before, even as the number of transactions increase and the amount of money flowing through them grows exponentially. It goes without saying that accounting software that can’t scale with a company’s growth is out of the question. The same goes for accounting solutions that aren’t updated in real-time and have no interconnectivity withCRM and other company departments.
The above demands are just some of the reasons why accounting has made a dramatic shift to the cloud, namely in the form of SaaS-based accounting apps. Accounting apps built on Salesforce, delivered by FinancialForce.com, manage to meet all of these requirements, all while retaining a lower barrier to entry and bringing unprecedented mobility to the industry.
Of course, as many financial service firms can attest to, not every accounting task can be completed successfully through the broad brushstrokes of a standard accounting app. Larger projects that may involve substantial costs and accounts receivables are often more successful when managed separately. And as with standard accounting apps, project accounting apps should be able to track project costs and payments in real time, have a highly organized and intuitive user face, and provide an accurate financial picture from project inception to project completion.
Project accounting app autonomy
Furthermore, a project accounting app should be able to retain a high level of autonomy while still having access to the company’s general accounting ledger and CRM system. As the project advances, accurate financial forecasts should be available to the project’s team as well as the company as a whole. And the customer service representatives at the forefront of your business’ success must be able to communicate with the entire team to ensure that everyone is on the same page both on a project-basis and a company-wide basis.
Salesforce has been deliveringCRM support for both large and small financial service companies for years. These companies understand how important accurate accounting is to the running of their business. They also understand the value of accounting apps that are integrated into their CRM. A unified, cloud-based solution provides much needed financial visibility and customization without the high costs of traditional accounting methods, and this is exactly why such solutions have grown in popularity over the last few years.