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FinancialForce.com Launches Accounting Spring '12

Deeper Financial Reporting and Analytic Capabilities; ClickLink(TM) Connects Force.com Apps Without Coding (March 07, 2012)

SAN MATEO, CA -- (Marketwire) -- 03/07/12 -- FinancialForce.com, the cloud applications company, today announced FinancialForce Accounting Spring '12, the latest release of the company's cloud accounting application built on the Force.com platform from salesforce.com. This major release is designed to address key concerns of financial managers including financial reporting, implementation speed, and opportunity to cash efficiency.

The release includes two major enhancements:

  • FinancialForce Reporting, which is designed to simplify reporting and add deeper analytical capabilities while harnessing the power of crowd sourcing to develop reports.
  • FinancialForce ClickLink™, a tool which allows users to quickly create tight integration with other applications that leverage the Force.com platform from salesforce.com, without coding.

"FinancialForce.com has materially enhanced the accounting reporting capabilities of its product," said Brian Sommer, President, Vital Analysis. "Users should experience a much easier time creating reports that adjust with changing financial periods, comparing different account balance types, e.g., actual vs. forecast/budget, and presenting complex multi-period financial results, e.g., a multi-year comparative balance sheet. Developing these more complex reports without a pre-supplied tool is quite difficult, and the inclusion of these enhanced reporting capabilities should make existing users ecstatic and open up more market opportunities for FinancialForce.com."

FinancialForce Reporting
Spring '12 introduces FinancialForce Reporting. Unlike generic reporting tools, it is purpose built for financial reporting, eliminating the need for the many spreadsheets financial managers lean on today. FinancialForce Reporting includes:


  • Customizable financial report templates that can be quickly adopted by any organization.
  • Point and click report definition creation.
  • Attractive formatting options including motion graphics for board level presentations.
  • A richer data repository to leverage FinancialForce Accounting's multidimensional chart of accounts to capture more budgets, forecasts, currencies and operational statistics.
  • A simplified reporting data structure making it easy to use any business intelligence tool, including Salesforce Analytics.
  • The ability to report on any Force.com object enabling users to combine financial and CRM operational metrics i.e. cost per lead.

ReportExchange
One of the most innovative features of FinancialForce Reporting is the ability to import, export and share report templates with other users. To facilitate this, FinancialForce.com is introducing a ReportExchange™ where templates can be shared among FinancialForce.com customers.

"As the primary suppliers of financial and analytical information to a company's stakeholders, financial managers are increasingly asked for more sophisticated reports and analysis of their businesses," said Tom Brennan, VP Product Marketing at FinancialForce.com. "We have enriched the underlying analytical data in the system as well as giving customers the ability to easily generate attractively formatted financial reports. Through crowd sourcing, the ReportExchange will harness the creativity and intellectual capacity of all our users. Our customers will be able to help each other create imaginative and insightful reports in a social environment. This will shorten implementation timeframes and improve the value users derive from their financial system."

"Click -- don't code" integrations with ClickLink™
FinancialForce ClickLink™ allows savvy Force.com business users and Force.com administrators to quickly build integrations without any programming or involving the Force.com packaging processes. It is employed at the application level so it can be easily utilized by any Force.com administrator. Benefits include:

  • The ability for users to link Force.com objects by simply clicking source and target object fields
  • Automatically engages the FinancialForce.com API, ensuring data integrity.
  • Users can easily add integration logic and perform data transformations using native Force.com capabilities such as custom formula fields.
  • Users can link custom Force.com apps or packaged apps to FinancialForce.com apps.
  • "Buttonize" ClickLink™ rules to perform integrations one at a time or run them on a schedule.
  • Supports FinancialForce.com Accounting, Professional Services Automation (PSA), Billing and Media Billing applications.

"The majority of our customers build their own custom applications on the Force.com platform and want to connect data and processes to FinancialForce.com applications," said Brennan. "There is also a proliferation of new ISVs on the AppExchange today that want to tie into our applications. ClickLink™ makes it simple to connect an ecosystem of custom and packaged apps on the Force.com platform. It will shorten implementation cycles, speed data conversions and lower our customers' total cost of ownership."

Compress the Opportunity to Cash cycle
FinancialForce Spring '12 also includes a number of enhancements to increase processing efficiency and compress the opportunity to cash cycle, which has a direct effect on a company's administrative costs, and cash flow. These include:

  • ClickLink™ makes it easy to create orders, invoices or import payments from any Force.com custom object or packaged application, eliminating rekeying and error prone spreadsheet workarounds.
  • New bulk posting capabilities to process large volumes of orders, invoices and cash payments.
  • Extended cash matching functions to speed the matching process, allowing users to define cash matching screen layouts for faster cash application.
  • Cash matching API, allows users to perform customizable, high volume cash matching routines for credit card processing, lockbox processing and other high volume matching situations.

In addition to these significant announcements, Spring '12 includes the ability to easily create electronic bank payment formats and other user requested enhancements.

FinancialForce Accounting Spring '12 is available immediately to FinancialForce Accounting users as part of their monthly subscription fee.

About FinancialForce.com
FinancialForce.com is the cloud applications company. We focus 100% on building business applications for Force.com, the world's leading cloud computing platform from salesforce.com. Our applications include Accounting, Billing, Professional Services Automation (PSA) and Services Resource Planning (SRP). We serve fast-growing organizations and dynamic enterprises, helping them to align Finance, Sales and Service in a way that enables profitable growth. We are backed by two of the biggest and best players in the business, UNIT4 and salesforce.com.

To learn more please visit www.FinancialForce.com, follow us on twitter @FinancialForce or visit our Facebook page http://www.facebook.com/FinancialForce

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Media Contact:
Robyn Fernsworth
Reidy Communications for FinancialForce.com
Email: Email Contact
(415) 412-0300


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