FinancialForce.com Winter 10 release helps companies reduce debt

Published on November 15, 2009 in Computer & Electronics, Computer Software, Internet, Technology

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* Company wraps up successful year by unveiling Winter 10 release at salesforce.com’s Dreamforce conference in San Francisco * Debt management, improved integration and new Launchpad functionality further enhance existing financial management and accounting capabilities

USA/UK (November 15, 2009) –

FinancialForce.com, the new cloud accounting company formed with investment from Unit 4 Agresso and salesforce.com, will unveil its latest edition, Winter 10, at salesforce.com’s Dreamforce conference in San Francisco this week. This latest release enhances the existing financial management capabilities of FinancialForce Accounting, adding:

o Enhanced Debt Management to assist companies automate and manage their cash collection processes effectively;
o Integration Rules which seamlessly pull non-financial data into the finance application through a point and click user interface; and
o the Launchpad which acts as a navigational aid to simplify some of the sophisticated finance processes.

At a time when cash management couldn’t be more important, Winter 10 from FinancialForce.com comes with powerful new debt management capabilities which help organizations to pursue debt and automate the cash collection processes more effectively. At the click of a mouse button, reminder letters can now be scheduled and sent via email from within FinancialForce Accounting without the need to swap into another application. These reminder notices can be scaled by the customer in terms of severity, from a polite reminder to a more serious legal notification, depending on the age of the debt.

Unlike competitive offerings FinancialForce Accounting reminders can be run in batches rather than on a case-by-case basis thereby saving time for finance professionals or administrators. In addition, on receipt of the reminder, a customer can select to pay the outstanding invoice immediately, using PayPal’s ‘Pay Now’ button, which can be embedded in the reminder email.

Building on one of its key strengths – integration – Winter 10 also incorporates new and unique Integration Rules. FinancialForce.com recognizes that the accounting system is at the heart of operations so it is critical to provide an easy method to pull data from an organization’s other line of business applications into FinancialForce Accounting. Although FinancialForce Accounting is built on salesforce’s Force.com platform, these new Integration Rules will work with any application, even ones not built on the platform. That means regardless of how a business chooses to generate financial transactions from business events it can use Integration Rules to map that process into FinancialForce Accounting – without the need for custom development or expensive specialist programmers.

In addition, the solution is configured to allow customers to manage this process themselves through an easy to use point-and-click application. Customers benefit from a flexible and agile solution that provides financial and management information in a single place, and lets them share and collaborate on integrated management and financial information from around the business.

Another important enhancement is the Launchpad, which simplifies and provides a visual representation of what are normally complex financial accounting processes. Customers can see at a glance the workflow they need to follow to complete a financial transaction quickly and efficiently and can familiarise themselves with that process. Research by FinancialForce.com has found that using such simple visual navigation tools simplifies and enhances the experience of using financial applications, so the Launchpad makes FinancialForce Accounting even more user friendly and accessible to finance and general business users alike.

Jeremy Roche, CEO of FinancialForce.com, said: ‘In developing the Winter 10 release we have listened to what our customers and partners have asked for from the product suite and acted on that feedback. Winter 10 delivers powerful and comprehensive accounting and finance functionality combined with the ability to improve debt management and cash flow. In addition we have made it easier to integrate with other core applications within an organisation and even easier to use. The enhanced functionality we are delivering makes FinancialForce applications even more compelling as a cloud accounting solution.’

Source: FinancialForce

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