Cloud-based accounting technology provider has released the Summer ’11 version of FinancialForce PSA, which includes both social media and mobile features geared toward aiding professional service organizations.

The latest release includes a Salesforce Chatter-enabled timecard entry app for the iPhone. It also provides the ability to add Chatter streams—much like Facebook streams— and increase visibility to tasks synchronized with MS Project, and an automated project status report configurator.  The configurator also helps ensure that status reports become part of the project audit trail.

FinancialForce PSA Summer '11 also includes more flexibility to define project milestones, cost rollup structures and rates.

“Our focus [with this release] was about building up more components around the idea of social ecosystems in a company, creating social accountants if you will,” said FinancialForce vice president of product marketing Tom Brennan. “People at professional service organizations are always working together on projects, with whole teams across geographies, and needing to keep sales and accounting in the loop. These new features are all about collaboration.”

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