If you don’t have good enterprise resource planning (ERP) software, you’re wasting time entering data into systems that don’t talk to one another. In our last blog post, you learned how important it is for your front and back offices to be on the same page about your financials.

Because FinancialForce is built on the Salesforce platform, you get more compatible front and back office software that saves you time and money. We’ve seen FinancialForce slash the time it takes our clients to crunch the numbers for their businesses. 

So how does this ERP app work so efficiently?

Your team will work faster with a smaller margin of error thanks to three functions in FinancialForce: 

1. View Fresh Financial Reports Every Single Hour 

Most Chief Financial Officers only get their hands on an updated financial statement every 24 hours. When you finally see the latest numbers, you might not have the best picture of your business because you’re using an accounting system that doesn’t communicate very well with Salesforce or another customer relationship management (CRM) service.  

Wouldn’t it be nice to see your company’s financial statement in real time?

FinancialForce is as close to real-time as it gets. With an hourly sync, you’ll always see the most up-to-date financial statements throughout the day. 

The app is also built on the Salesforce platform, which means you get a 360° view of your business because your customer’s data is in one place. Front office data from Salesforce feeds into back office data from FinancialForce, making your financial statements more dynamic and accurate.

With updated data about your finances available every single hour, you’ll be able to make fast financial decisions with the confidence you need.

2. Save Time With Automated Collection Emails 

Are you tired of losing time and money on manual collection emails? Do you have a disjointed email system between business operations and collections?

FinancialForce offers a way to automate and streamline emails from initial invoices to overdue balances. You’re able to customize when clients receive invoice notifications. 5 days ahead of the due date? Yes! 15 days late? No problem. You can create emails for billing contracts, subscription billing options, and sales invoices for ongoing projects.

You can also stop manually emailing every customer about their remaining balance. On the accounts receivable (AR) side of FinancialForce, you’re able to automate reminders about outstanding balances or payments past due. 

The degree of automation is up to you with FinancialForce. Your financial team will be able to focus their time and effort on other tasks once collection emails are taken off their plate. 

3. See Multi-Currency, Multi-Company Transactions In One General Ledger

If you have different books and systems for different accounts, you’re likely working with general ledgers (GL) disconnected from one another.

What if you could consolidate them into one GL? 

FinancialForce is able to consolidate all of your transactions into a single GL. A key component is its ability to handle multi-currency, multi-company transactions. 

Use the same set of revenue and expense accounts with FinancialForce’s multi-company feature. View an entity’s financial statement in its home currency and automate any currency revaluation. 

Say goodbye to manual work and Excel spreadsheets for tracking multiple companies and currencies!

We know your team will work more efficiently with less room for error using these capabilities in FinancialForce because they’ve worked for us. We let FinancialForce crunch the numbers so we can pursue our passion… which is helping you optimize these functions for your financial team! Schedule a call with OpMentors today, and we’ll help you dramatically reduce the time you spend on financial reports.