Cloud accounting and financial technology provider FinancialForce.com has released FinancialForce Accounting Spring ’12, with enhancements designed to address the key concerns of financial managers, including financial reporting, implementation speed and reporting efficiency. 

The release includes three key enhancements. FinancialForce Reporting is designed to simplify reporting and add deeper analytical capabilities while utilizing crowd sourcing to develop reports. ReportExchange allows report templates to be customized and shared with other users. The FinancialForce ClickLink tool allows users to integrate with other applications that leverage the Force.com platform from salesforce.com, without doing extra coding.

“One nice thing about building apps in the cloud is that it’s a clean sheet of paper,” said FinancialForce president and chief executive Jeremy Roche. ““With this release we’re focused on reporting, as well as the ability to share and collaborate, so we’ve made things work around templates, what gets retrieved, and the ability to change things on the fly. If we can create solutions with technical knowledge built in and an easy UI, we’ve done our job.”

Roche also noted that use of FinancialForce in the U.S. and North America is on the rise, as is a program that encourages accountants to be recommenders of the product. He expects this trend to continue.

“The North American market is an early adopter of the cloud and will continue that trend going forward,” he said. “There seems to be a real understanding of what [cloud accounting] can do. I think there will be a lot of movement on the bookkeeping end. Lots of cloud vendors, not all, are pointing towards being collaborative with their products.”

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

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