FinancialForce.com rolls out enhanced accounting, services applications

The updates include a new financial reporting engine and a data integration tool

FinancialForce.com announced a string of enhancements to its cloud-based applications for accounting and professional services automation on Wednesday, heating up its rivalry with the likes of NetSuite and its OpenAir division.

A joint venture of Salesforce.com and Unit4 formed in September 2009, FinancialForce.com now has a more than US$9 million annual revenue run rate, according to Unit4's recently released 2011 results. That's a modest sum compared to other cloud vendors. But in an interview, FinancialForce.com CEO Jeremy Roche described the company's growth as "exponential," with an employee count now over 100 people.

The vendor has also landed a customer with 5,000 users, although Roche said he couldn't name the company.

FinancialForce.com's software is built natively with Salesforce.com's Force.com development and infrastructure platform. This gives FinancialForce.com an edge over its rivals, which may be running multiple platforms under the covers, Roche said.

For one, customers can benefit from the large ecosystem of partner applications available through Salesforce.com's channel, he said. Secondly, Force.com streamlines FinancialForce.com's development processes, since all of them use the same workflow engine and database. "That customer that you've sold to, it's same account record to bill to, the same chart of accounts," he said. "There's no data mapping to be done."

The new version of FinancialForce.com's accounting software includes a new financial reporting engine that provides point-and-click tools with which users can create template-based reports. The reports can also be shared with other users.

Also new is ClickLink, a data integration tool that can tie FinancialForce.com to data objects in other applications built with Force.com.

Meanwhile, the update to FinancialForce.com's professional services software features a new social networking theme that allows project teams, subcontractors and customers in disparate locations to collaborate more easily, according to FinancialForce.com.

Other new features in the PSA update include a timecard application for Android mobile devices, as well as improved functionality for helping managers determine and track "utilization" rates, which refers to the percentage of billable hours workers on a given project are generating.

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris's e-mail address is Chris_Kanaracus@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Chris Kanaracus

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?