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FinancialForce Summer 2020 Release Fast-Tracks Intelligence, Analytics, and Insights for Finance and Services Teams Responding to the Pandemic

FinancialForce announced its Summer 2020 Release featuring critical new capabilities to provide organizations with greater intelligence and resource visibility for today's evolving business environment. Scheduled for general availability on July 8, the Release will help organizations make more informed decisions and successfully navigate the process of stabilizing, recovering, and growing their businesses.

FinancialForce worked with customers to identify and introduce features in the Summer Release that solve for key challenges confronting finance and services leaders and their organizations during the COVID-19 pandemic. Top updates based on this input are all-new dashboards that leverage Salesforce Einstein analytics experience for better cash management and capacity planning for today's resource-constrained environment.

"Agility is essential to organizations at every stage of their response to COVID-19 and beyond," said R "Ray" Wang, Principal Analyst and Founder, Constellation Research, Inc. "Services companies, in particular, are adopting technologies that allow them to forecast frequently, plan for alternative scenarios, and continually adjust capacity based on a range of variables."

The Release includes two new dashboards that address these needs. The Cash Flow Forecast Dashboard will provide greater visibility into cash outflows and inflows for better cash management. The Capacity Planning and Demand Dashboard brings resource capacity together with demand to give resource managers a forward-looking view of capacity by role with the ability to drill-down to individual resources.

To further support business planning and forecasting, the Release will also offer new KPIs and analytics that enable CFOs and their teams to plan for multiple scenarios. 

"Our Summer 2020 Release is specifically designed to help finance and services teams operate more effectively by offering greater intelligence, automation, and visibility into their businesses," said Dan Brown, Chief Product and Strategy Officer at FinancialForce. "Based on customer input, we fast-tracked updates that give organizations the ability to quickly prepare and adjust forecasts and capacity so they can better meet the demands of the market and make more informed decisions about cash needs, investments, expenditures, and resources."

New enhancements to FinancialForce ACCELERATE--a set of product and service solutions that accelerate business value across the entire customer lifecycle experience--continue to ensure that customers can take full advantage of FinancialForce features and upgrades by supporting fast adoption and leading practices. With Summer 2020, customers gain even faster time to value with ready-built application deployments called Accelerate Builds, which include leading practices built-in that provide a baseline for differentiated experiences. The Customer Lifecycle eXperience (CLX) Hub adds enhanced tools and technology to manage solution deployments with increased quality, predictability, and speed.

Key features in the Summer 2020 Release:

PSA Analytics: 

  • View future capacity challenges, based on planned and potential work, and take proactive action with the Capacity Planning and Demand Dashboard.

ERP Analytics:

  • More easily track core subscription bookings KPIs, including Annual Recurring Revenue (ARR), Monthly Recurring Revenue (MRR), Customer Renewal Rate, and Customer Churn.
  • Add filters for accounting books (multi-book) all financial dashboards
  • See a 360-view of projected cash in the all-new Cash Flow Forecast Dashboard

ERP Cloud:

  • Email payment remittances from Payments Plus, automating the process of alerting vendors about which invoices were included in a specific payment..
  • Save your tax information from FinancialForce Billing Central in Avalara, making it easy to submit tax returns.
  • Save jurisdiction-level tax breakdowns returned from Avalara AvaTax, and support "ship to" and "ship from" at the line level as well as use code and product tax code.
  • Activate Salesforce Lightning Experience (LEX) in FinancialForce Billing Central to boost your team's productivity.
  • Dimension combination rules have been enhanced from a user interface perspective allowing for a more intuitive multi-select UI as well as the ability to validate combination rules on "Save" vs. "Post;" ensuring that the right information is recorded for reporting and analysis of financial transactions.
  • Edit row definitions for the embedded Income Statement allowing for a more ad-hoc reporting experience.
  • Filter Trial Balance and Income Statement by dimensions and save filters for future use.
Published Thursday, June 25, 2020 5:00 PM by David Marshall
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