FinancialForce.com, the cloud applications company, has announced a new release of the popular software with enhancements around reporting “FinancialForce Reporting” and integration, “FinancialForce ClickLink”.
The new release, called FinancialForce Accounting Spring ’12, is the latest release of the company’s cloud accounting application built on the Force.com platform from salesforce.com. Last week, as reported in FSN, the company announced substantial growth in its cloud-based sales, surpassing all expectation. The new release is designed to address key concerns of financial managers including financial reporting, implementation speed, and opportunity to cash efficiency.
FinancialForce Reporting, is designed to simplify reporting and add deeper analytical capabilities while harnessing the power of ‘crowd sourcing’ to develop reports. FinancialForce ClickLink, is a tool which allows users to quickly create tight integration with other applications that leverage the Force.com platform from salesforce.com, without coding.
"FinancialForce.com has materially enhanced the accounting reporting capabilities of its product,” said Brian Sommer, President, Vital Analysis. “Users should experience a much easier time creating reports that adjust with changing financial periods, comparing different account balance types, e.g., actual vs. forecast/budget, and presenting complex multi-period financial results, e.g., a multi-year comparative balance sheet. Developing these more complex reports without a pre-supplied tool is quite difficult, and the inclusion of these enhanced reporting capabilities should make existing users ecstatic and open up more market opportunities for FinancialForce.com."
FinancialForce Reporting includes attractive formatting options which allow motion graphics for board level presentations. The application will also provide a richer data repository to leverage FinancialForce Accounting’s multidimensional chart of accounts to capture more budgets, forecasts, currencies and operational statistics.
One of the most innovative features of FinancialForce Reporting is the ability to import, export and share report templates with other users. To facilitate this, FinancialForce.com is introducing a ReportExchange where templates can be shared among FinancialForce.com customers – ‘crowd-sourcing’.
“As the primary suppliers of financial and analytical information to a company’s stakeholders, financial managers are increasingly asked for more sophisticated reports and analysis of their businesses,” said Tom Brennan, VP Product Marketing at FinancialForce.com. “We have enriched the underlying analytical data in the system as well as giving customers the ability to easily generate attractively formatted financial reports. Through crowd sourcing, the ReportExchange will harness the creativity and intellectual capacity of all our users. Our customers will be able to help each other create imaginative and insightful reports in a social environment. This will shorten implementation timeframes and improve the value users derive from their financial system.”
FinancialForce ClickLink, the other main strand of this new release allows “savvy” Force.com business users and Force.com administrators to quickly build integrations without any programming or involving the Force.com packaging processes. It is employed at the application level so it can be easily utilised by any Force.com administrator. The product gives users the ability to link Force.com objects by simply clicking source and target object fields. The process automatically engages the FinancialForce.com API, ensuring data integrity. FinancialForce says users can easily add integration logic and perform data transformations using native Force.com capabilities such as custom formula fields. In this way users can link custom Force.com apps or packaged apps to FinancialForce.com apps.
"The majority of our customers build their own custom applications on the Force.com platform and want to connect data and processes to FinancialForce.com applications,” said Brennan. “There is also a proliferation of new ISVs on the AppExchange today that want to tie into our applications. ClickLink makes it simple to connect an ecosystem of custom and packaged apps on the Force.com platform. It will shorten implementation cycles, speed data conversions and lower our customers’ total cost of ownership.”
FinancialForce Accounting Spring ’12 is available immediately to FinancialForce Accounting users as part of their monthly subscription fee.