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FinancialForce FFX Summit Previews Fall Product Expansion With New Customer Success Operations Cloud Solution, Services Estimation For PSA, And E-Invoicing

Summer Release Updates Include Enhanced Financial Report Builder

FinancialForce,the leading provider of customer-centric business applications across finance, services, and customer success teams, today announced several milestones during its annual FFX Summit. News includes the introduction of FinancialForce Customer Success Operations Cloud (CS Ops Cloud) for general availability in Fall, major new product enhancements for Professional Services Cloud and ERP Cloud, and the general availability of the Summer 2021 Release featuring significant new features.

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Slated for Fall, CS Ops Cloud will be the latest addition to the FinancialForce solutions suite, which includes FinancialForce ERP Cloud and FinancialForce Professional Services Cloud. CS Ops Cloud is designed to help organizations operationalize customer success and deliver greater customer outcomes–all on the Salesforce platform. The new solution is ideal for companies that offer subscription-based products and services and strive to maximize the customer relationship.

“CS Ops Cloud underscores FinancialForce’s commitment to the concept of customer centricity and offers a critical new way for organizations to delight and retain their customers,” said Scott Brown, CEO at FinancialForce. “With Sales, Services, and Support all on the Salesforce platform, Customer Success was the sole silo in the customer journey, until now. The solution gives customer success teams a new way to expand the view of their customers while allowing organizations to truly build their business around the customer through the combination of FinancialForce and Salesforce solutions.”

FinancialForce CS Ops Cloud simplifies and systematizes all customer success operations activities, giving stakeholders a repeatable, predictable way to gain control over their customer success initiatives. By displaying a complete, coordinated picture of the entire customer lifecycle, CS Ops Cloud enables stakeholders across the organization to collaborate, then quickly derive key insights and take decisive action that drives the “Big 4” of customer outcomes: satisfaction, retention, expansion and referrals.

“The responsibility of shaping and supporting customer experience spans the entire organization,” said Nicole France, Vice President and Principal Analyst, Constellation Research. “Technologies that facilitate transparency and coordination across the enterprise make that joint responsibility achievable. This kind of operational capability forms a crucial part of any digital transformation strategy today.”

Major Professional Services Cloud Feature: Services Estimation

Another major new product innovation slated for Fall is Services Estimation. In customer-centric operating models, sales and services delivery teams are tightly aligned—often working together throughout the sales process. To further strengthen this relationship and improve scoping accuracy and staffing lead times, FinancialForce is introducing a new Services Estimation capability to its Professional Services Cloud.

The new feature gives organizations the flexibility to estimate non-productized services and model detailed project requirements to deliver an accurate and achievable estimate. Services Estimation also offers the ability to do bottom-up or top-down estimation, such as figuring out how many people are needed on a project, how long the project will take, and the right rates for the project. Additionally, organizations have the ability to do what-if analysis and gain greater visibility into the sales cycle. For those organizations using Salesforce CPQ, the new Services Estimation capabilities will work seamlessly alongside.

“Services Estimation is an exciting new feature that customers have been requesting to further optimize their professional services organizations,” said Dan Brown, Chief Product Officer at FinancialForce. “The launch of this product speaks to the innovation that FinancialForce is doing around service delivery and is a wonderful enhancement to our PSA offerings.”

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Enhanced Financial Report Builder

FinancialForce’s Summer 2021 Release introduces other new capabilities to support FP&A through its Enhanced Financial Report Builder (FRB), the next-generation financial reporting technology first released in Spring. Enhancements include pre-built FRB-based Income Statements, Trial Balance, and Balance Sheets to jumpstart reporting efforts. Performance has also been improved with a newly designed data table to make complex reports run even faster, while maintaining the ability to drill to transaction level detail at the General Ledger, Account or Project level.

New e-Invoicing Partnership

FinancialForce also entered into a partnership with Storecove to offer e-invoicing as part of its globalization efforts. E-invoicing and sending/receiving invoices through the PEPPOL network is a regulatory requirement in some locales. Thanks to the partnership with Storecove, along with out-of-the-box integrations, FinancialForce can now address these customer needs.

The use of e-invoicing also offers significant benefits such as faster payments, less time in invoice preparation, delivery confirmation, and automatic creation of vendor invoices. Storecove is part of FinancialForce’s ReadyApp ISV program.

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Geographic Expansion

FinancialForce also continues to expand it’s geographic coverage. In the Fall release, FinancialForce’s ERP Cloud will add Germany, Sweden, Norway, and Belgium to it’s list of supported countries.

Summer Release Brings Fresh Enhancements

In addition to capabilities noted above, FinancialForce is also announcing general availability for the following as part of its Summer 2021 Release:

  • Customer Engagement Enhancements: FinancialForce extends the power of its Customer Engagement offering through the addition of Drop Ship Analytics. Drop Ship revenue and cost information can be analyzed across multiple customer projects or accounts, and delivery commitments can be surfaced as part of the engagement timeline, to understand commitments and delivery schedules. Consolidated invoices across subscriptions, drop shipments, and services provide a more complete and accurate picture of customer engagement and behavior.
  • Revenue Management linkage with SF Revenue Cloud: FinancialForce is introducing Revenue Management Connector for Salesforce Revenue Cloud. Customers of Salesforce’s CPQ and Billing products can now quickly configure revenue recognition functionality from FinancialForce Revenue Management, including support for ASC606, without the need to move data off platform. Customers can easily maintain revenue recognition policies for orders including subscriptions, usage, tangible products, and services, and analyze that data with Tableau CRM (formerly Einstein Analytics) dashboards.
  • UX Improvements: FinancialForce continues to make significant investments in User eXperience (UX), based on Salesforce Lightning (aka LEX), across its entire product portfolio. Navigation enhancements include additional support for links to Lightning Apps, Reports and Dashboards as well as Search functionality for all navigational links previously (pages, objects, and URLs) and newly added. Additional updates include new card types for record and app pages that cover percentage and KPI respectively; new app page layouts with collapsable panels; and updated mobile support for Highlight cards. Finally, we have expanded the flexibility that the Highlight cards give by adding a Highlight Configuration Builder that supports mixing and matching in any combination and quantity which reflows as a responsive layout.

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