Financial.force demo to Nimbus

Today the project team including all Finance Department, COO and CFO had a demo of FinancialForce Accounting. The buzz and excitement was apparent in everyone - yes our Finance team do get excited!!

The system was a clear winner with the team. Momentum is now unstoppable as the FinancialForce Accounting benefits continue to exceed our expectations. By integrating our sales order system with FinancialForce.com we are not only speeding transaction times but providing one system to the business.

Here are some highlights from the demo;

• Multiple company accounts with cross company reporting.
• Multiple currencies within each company.
• Revenue scheduling against line items on and invoice (providing automatic calculations for deferred revenue)
• Invoice scheduling providing the ability to plan invoices for services from one opportunity and post to the ledger at the end of each period
• Ability to post payments in bulk
• Create PDF invoices and email directly to the company and log activity for history tracking (great for credit chasing)

Another revelation was product schedules. Currently we run these for maintenance, hosted or rental software products. Historically we have done this to provide some forecasting on deferred revenue (not for sales forecasting). However this can be managed in FinancialForce.. Opportunities will only need to mirror the total amount due and no schedules required. This is a quick win for not only the Finance Department but also the Account Managers as software product will simply be a line item against the close date and no need to build additional scheduling of revenue.

We are also very excited about the prospect of calculating commissions in FinancialForce. This won’t happen right away but we believe commissions can be calculated in real time no end of month calculations in MS Excel. Not only will this save time in the Finance Department but I hope will inspire the Account Managers to keep entering opportunities and take a keen interest in ensuring invoices are raised and systems up to date as commissions tot up throughout the quarter.

Stay tuned as we start mapping the as is processes