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FinancialForce.com Drives Finance Department Productivity With Spring '11 Release
SAN MATEO, CA, Jun 07, 2011 (MARKETWIRE via COMTEX) --
FinancialForce.com, the global leader in online cloud accounting
solutions built natively on the Force.com platform from
salesforce.com, today released FinancialForce Accounting Spring '11.
The release is focused on improving the productivity of finance
departments by streamlining tasks and using clever automation and
wizards to simplify complex processes that can consume a finance
department's time. Spring '11 reduces the number of touches and
keystrokes in many accounting processes and now fully leverages the
electronic authorization capabilities provided by the Force.com
platform.
"Our primary goal with Spring '11 is to help finance departments
improve productivity," said Debbie Ashton, VP of product and customer
success. "We talked with a large number of companies about processes
that were draining their time. Finance teams are clearly under
tremendous pressure to do more with fewer staff. We found several
areas where we could eliminate steps, automate functions, or make
complex accounting processes simpler. Spring '11 will improve the
work velocity and efficiency of the finance department over and above
the efficiency gains they derive with a cloud solution."
Spring '11 includes a number of new functions to eliminate touches,
and where it is necessary, dramatically increase the speed of data
entry. More streamlined and innovative automation has also been
introduced in areas such as Searching, Bank Reconciliation and
Currency Revaluation. For instance, a Currency Revaluation Wizard
takes users through all the steps of a currency revaluation and
culminates in automated entries to book both the unrealized gain/loss
and the subsequent reversing journal.
"Too often, accounting software and financial systems get in the way
of doing day-to-day business," said Jeffrey M. Kaplan, managing
director, THINKstrategies. "By reducing the number of touches and
keystrokes involved in many accounting processes,
FinancialForce.com's Spring '11 release enables financial departments
to improve their productivity, save time and money."
A significant addition to the release was the use of Force.com's
authorization workflow. "One big complaint financial managers shared
with us was how much time they spend chasing line managers and
executives for transaction authorizations. Repeated emails and phone
calls just don't cut it anymore," said Ashton. "Besides adding to the
period close task list, financial managers have better things to do
than chasing their colleagues."
When combined with Force.com authorization workflow, financial
managers can create simple or multi-tiered electronic approval
processes and have complete visibility to any authorization
bottlenecks. Unlike emails, the system tracks and attaches the
authorization history to each transaction, providing an iron clad
audit trail and solid controls. The system uses the same
authorization engine used by Salesforce CRM users, so companies don't
have to invest in additional authorization workflow tools, allowing
them to use a familiar tool company wide.
FinancialForce Accounting Spring '11 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.
Media Contact:
Maria Bradley
Reidy Communications for FinancialForce.com
Email: maria@reidycommunications.com
(415) 704-5012
SOURCE: FinancialForce.com
mailto:maria@reidycommunications.com
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