Cloud-based accounting software provider FinancialForce.com has released FinancialForce SRP, an offering that will integrate Salesforce customer relationship management, accounting and a new professional services automation component in a “services resource planning” system.
The new offering is designed to help service-based companies and firms sell, deliver and bill projects more collaboratively.
The recent move stems from FinancialForce’s December acquisition of the PS Enterprise online professional services automation software from Appirio Inc., along with the small team behind it (see FinancialForce Acquires Unit from Appirio). FinancialForce is effectively rebranding the software and integrating it with its current offerings.
“You have companies that did buy a CRM system, but it’s not well-connected to their PSA or accounting systems,” said vice president of product marketing Tom Brennan. “Now you can go straight from a lead, create a project and then to the billing while also making sure all of your teams are engaged with the same customer at the same time. One thing that is really obvious to me is project work is very team-oriented, and putting it all on one platform is vital. [The] services [industry] in general is also social by nature, so having that collaborative ability, you can extend outside the walls too. But within a firm you can work on a project more efficiently and better serve that client.”
Brennan noted that the impact of a “siloed approach,” or using disconnected CRM and project and accounting software was exposed in a recent study by Service Performance Insight entitled, The 2011 Professional Services Maturity Benchmark. The authors surveyed 210 professional services organizations and analyzed firms based on metrics to measure the value of systems integration and real-time visibility. In the study, companies with integrated CRM and PSA systems reported higher bid/win ratios, higher project margins, higher utilization, and higher revenue per billable consultant.
For more information on FinancialForce SRP, visit www.financialforce.com.
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