Cloud accounting application integrates tightly with Salesforce.com

Cloud accounting application integrates tightly with Salesforce.com

Summary: FinancialForce keeps financial teams in the loop about sales pipeline and progress update. Developed with force.com, the application supports the Chatter collaboration tool.

SHARE:
TOPICS: SMBs, Cloud
4

Small businesses with an investment in the cloud customer relationship management (CRM) application from Salesforce.com might want to consider a companion service that handles both accounting and professional services automation.

The service, delivered by FinancialForce.com, was developed using the force.com cloud-software delivery platform. What that means, in a nutshell, is that the modules for the application are embedded into the Salesforce.com application, so that users only need one log-in and the interface conventions look the same. Workflows can be passed back and forth.

The benefit from a back-office standpoint is that sales pipelines being managed in Salesforce.com can be kept in closer synchronization with invoicing, billing and expense workflows, said Tom Brennan, vice president of product marketing for FinancialForce.com. "You don't see the lines between one and another," he said.

So, for example, expense reports associated with customer prospecting activities could be generated as the salesperson is updating the prospect or account record with information about the visit.

FinancialForce.com is targeting businesses are primarily services based with its application; to make its cloud application more appealing, it has created a series of mobile components, such as time entry, that can be used on the Apple iOS platform. Unlike some other accounting application, FinancialForce.com was also built from the ground up to handle multinational business or accounts, Brennan said.

One other noteworthy feature: FinancialForce makes use of the Chatter collaboration tool, enabling users to comment on accounts or annotate workflows. FinancialForce.com suggests several potential uses for this feature. For example, a sales team could alert a series of employees about the progress of an especially large deal, including not just the sales personnel but also the finance team, which might offer pricing suggestions or payment terms that might help close the deal.

FinancialForce.com exited its beta test phase in mid-September 2011; it now has more than 20,000 users on its cloud services platform. A typical one-year subscription cost for FinancialForce.com would run about $9,000 for one year, depending on the number of users being supported, according to Brennan.

Topics: SMBs, Cloud

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Talkback

4 comments
Log in or register to join the discussion
  • Accounting pricing too high for most small businesses

    The application is far too expensive for a small business. We don't use ERP systems, our comparisons are against something like Quickbooks ($400 to own it outright). We've been using SalesForce for years and I was initially excited about FinancialForce when introduced a few years ago but the price point was/is way too high.
    ddeveaux@...
  • Accounting in the Cloud for Smaller Businesses

    An alternative solution priced more for the smaller businesses yet leveraging the same platform is Accounting Cloud http://www.accountingseed.com/
    jabone9@...
  • Price and alternatives

    I'm with FinancialForce.com. The previous two talkback contributors mention price and alternatives. Regarding price, as with all things you get what you pay for - a $400 package will not give you the level of functionality, flexibility and integration that you get from FinancialForce. Of course if you're a very small business then a limited package is appropriate, but many of our clients are upgrading from Quickbooks. They get significant gains in efficiency, speed of billing, improved cashflow and scalability from FinancialForce, to name just a few benefits.

    As for alternatives, yes there may be other start-ups offering cheaper packages but with FinancialForce you're buying into a product with a future, from a team with a 30-year track record of building accounting & business systems, backed by two big players (salesforce themselves, plus UNIT4) and with the resources to match.

    Bottom line (as we accountants love to focus on!) - if you're small and don't want to grow, stick with something cheap. But if you have a strategy to expand your business and want to get world-class processes and systems in place to support your growth, at least take a serious look at FinancialForce Accounting and count the benefits.
    DavidTurner1
  • Time has come to move out of Salesforce

    Time has come to move out of Salesforce and be on on Integrated Work Cloud that is designed for gen-Y at 15th subscription cost of Salesforce/Force.com
    http://desktop.A2Zapps.com
    http://www.facebook.com/A2Zapps
    http://www.facebook.com/addfriend.php?id=100002818841456
    https://www.a2zapps.com/corporate/workcloud/whyus/movefromsalesforce
    desktop.a2zapps.com
    way2cloud