FinancialForce Combines All Accounting on Billing Central
Billing Central's processes are designed to be intuitive to use and to enable visibility across the customer lifecycle.FinancialForce, a go-to cloud ERP provider on Salesforce.com, on Sept. 15 introduced FinancialForce Billing Central, which it claims is the only cloud application that unifies billing, revenue management and accounting operations on the Salesforce Platform. Billing Central's strengths include intuitive-to-use processes and enabling visibility across the entire customer lifecycle, the San Francisco-based company said. New-generation businesses increasingly are shifting from product and single-transaction sales to service and subscription models. A recent industry survey reported that 70 percent of chief financial officers (CFOs) say that more than half of their revenue now comes from services, including professional services, subscription-based services, service-level agreements, managed services and usage-based contract. More than one-fourth (28 percent) of the CFOs indicate that all of their companies' revenues are services-related. Despite this major shift in business models, most ERP and billing systems haven't kept pace and do not support modern customer engagement, FinancialForce said.
Services Changing the Game in Customer Experience
At the same time, the shift to services and the importance of subscription renewals has placed an even greater emphasis on how customer experience and success impacts overall business growth and profitability.
--support tier and volume-based pricing;
--benefit from the fact that the product is unified with Salesforce CRM for 360-degree customer visibility;
--visualize the entire customer lifecycle, from opportunity to renewal;
--leverage real-time cloud reporting for revenue and customer analytics;
--gain full audit and control of revenue sources on one platform; and
--avoid duplication of data and objects in Salesforce CRM.