FinancialForce Accounting Reviews

12 Ratings
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Score 8.0 out of 100

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Reviews (1-7 of 7)

Anonymous | TrustRadius Reviewer
January 22, 2020

FinancialForce Review

Score 8 out of 10
Vetted Review
Verified User
Review Source
FinancialForce Accounting was selected to manage out AR/AP/General Finance needs for our company. Due to our heavy Salesforce presence, we needed a solution that would eliminate rework by housing everything under one PaaS.
  • Manage Requisition to Purchase Orders
  • Quickly on-board new vendors
  • Redundant Steps between SalesForce and FinancialForce Accounting.
  • Duplicative Processes between Account and Supplier Site.
  • FinancialForce Accounting was sold as a very intuitive, one-stop-shop application. I like the ease of working on a single platform and being able to create a simplistic experience for my team members. The hand-off between SaleForce and FinancialForce Accounting is effortless, and it operates as a single platform, in my opinion.
  • Implementing the AP system was long, but manageable, and our Customer Success Manager was incredibly knowledgable and patient. We were up and running in under three months. The AR application was much more labor-intensive and has not gone smoothly. Although we are up and running, the process was not positive, and it was more personnel-related versus functionality and ultimately resolved.
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Anonymous | TrustRadius Reviewer
July 30, 2019

Accounting in the cloud

Score 8 out of 10
Vetted Review
Verified User
Review Source
The Accounting and Finance department uses FinancialForce Accounting (FFA) for A/P and general ledger transactions. Our entire organization uses Salesforce as our CRM so this allows for interaction between the systems. We were able to automate A/P and allow outside departments to access vendor and A/P information. We have created dashboards and reports of financial information that can be shared with other departments.
  • User interface is more modern and user-friendly than other software
  • Dashboards allow for good visual interpretation
  • Reports are able to be customized to better fit users' needs
  • Financial reporting could be easier to use
  • More out-of-box reports for standard reconciliations (bank rec, aging, etc.)
  • Some of the processes are time-consuming (running an aging, cash matching, printing checks)
FFA is a good product if you want the ability to customize functionality and reporting. However, all the setup can be overwhelming if you are looking for an out-of-the-box solution. FFA is a great choice is you are already using Salesforce and want to report on KPIs directly from the source data. There are a lot of applications to help you feed data into the system or export it out in a usable format.
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Anonymous | TrustRadius Reviewer
July 26, 2019

FinancialForce -- For a growing small company

Score 5 out of 10
Vetted Review
Verified User
Review Source
FinancialForce is being used as our accounting system. We integrated it with SalesForce, but only the accounting department is using FinancialForce. It helps us in recording transactions and creating a trial balance, for which we are able to build financial statements in excel. We have other in-house development to help us auto-bill the invoices generated from FinancialForce.
  • FinancialForce has a very familiar user interface if you have experience using SalesForce. Since it's built on top of the SalesForce UI, it doesn't take long for people to learn to navigate around. This helps when onboarding new employees.
  • There is a lot of customization available. Since SalesForce is highly customizable, so is FinancialForce. This will help if you have an in-house developer that can tailor to whatever specific business need your company has. This pertains to layouts or reports that are being built.
  • It has better scalability than QuickBooks.
  • Since SalesForce was not made with accounting in mind, building FinancialForce as a module on top of SalesForce gives problems because the overarching architect of SalesForce cannot facilitate all the accounting requirements.
  • The FinancialForce integration team was not very good, and did not help us set up our FinancialForce very well. Their customer support is also lacking and takes a long time to respond and troubleshoot our problems.
  • FinancialForce doesn't actually build financial statement reports. We were only able to run a trial balance, and we had to build the statements ourselves in Excel.
It is good for a small business starting their growth phase. Quickbooks is not very good scaling from a small company to a midsized company. If your company does not have the resources to invest in NetSuite, FinancialForce may be a better option. If your business is not a subscription business, FinancialForce will be easier to manage.
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Anonymous | TrustRadius Reviewer
August 01, 2019

FFA Review

Score 10 out of 10
Vetted Review
Verified User
Review Source
FinancialForce is being used mainly within the Finance & Accounting department, but its functions are well-recognized across the company. It addresses problems in multiple areas such as Payables and Receivables, Reporting, Data Analysis, and other functions.
  • Comprehensive spreadsheets and dashboards with filtering functions.
  • Ease of file upload and conversion to and from Excel.
  • The overall spread of the homepage makes for easy access to whatever information you're looking for.
  • I believe FFA has a tremendous ability to data easy to access by all departments, but also is complex enough to retrieve specific data that is needed.
  • I am a full supporter of FFA.
More appropriate - Payables & Receivables, Reporting. Less appropriate - Document library containing multiple departments' files.
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Lynne Taylor | TrustRadius Reviewer
December 04, 2014

Salesforce User? - FinancialForce Accounting is a "No-Brainer"

Score 10 out of 10
Vetted Review
Verified User
Review Source
  • For Salesforce Enterprise Edition users, FinancialForce extends the CRM and any custom objects or applications built or installed for operations/manufacturing/services to create a complete end-to-end solution on the force.com platform.
  • Turning a sales quote or order into an invoice is seamless and intuitive, allowing sales and accounting to work together to share information and decrease time to bill. Credit processing when necessary follows a similarly seamless path.
  • Cash matching and bank reconciliation processing is streamlined with bank uploads and ability to easily match transactions with intuitive interface that checks and validates balances, increasing cash handling and accuracy.
  • Financial reporting using native Salesforce report capabilities is drag-and-drop, and ability to build custom reports using multiple data objects is flexible and easy to learn.
  • FinancialForce has a great support team and the ability to log a support case and manage the case through resolution and close has increased user adoption and satisfaction.
  • Multicurrency capability is particularly important for the company and FinancialForce handles this well with home and dual currency, easy to set up and ability to provide visibility and reporting for operations regarding impact of currency fluctuations has provided better decision making for management.
  • Intercompany transaction processing is easy to set up and use.
  • While FinancialForce does provide a robust reporting engine application for free (in addition to the large number of out-of-the-box standard Salesforce reports that come with the app), the reporting engine can be overwhelming for the average user to configure and learn. This is improving with each new release but is not out yet.
  • While the company doesn't use purchase orders, there may be a need at some point in the future to do procurement of non-operations goods and services. This functionality isn't currently supported by FinancialForce, although there is the ability to create custom purchase objects in Salesforce and integrate them with payable invoices object.
  • The company would also find a simple, straightforward expense reporting and reimbursement app that integrated with payable invoices or journals useful, in order to get away from expense report management by spreadsheet. There is no current application offered or supported by FinancialForce for this, but companies can opt to install (and pay for licenses) to use other, third party applications that handle this functionality.
For accounting systems, users and/or evaluators often want to see some type of matrix or "heads up" comparisons of specific features and functionality of a system in key areas such as:
1) General Ledger
2) Order to Cash cycle
3) Purchase to Pay cycle
4) Cash management
5) Inventory and/or Cost Accounting (Projects/Jobs, etc)
6) Revenue Recognition
7) Fixed Assets management
8) Budgets
9) Tax
10) Reports and Analysis

It would be great if this kind of matrix existed to be filled in by reviewers so that others could benefit from their perspectives about the applications and how they address or handle the specific features/functionality.

With respect to FinancialForce, the company has found that nearly all the key features it needed were available from the application.
  • Online training
  • Self-taught
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Anonymous | TrustRadius Reviewer
November 08, 2016

FinancialForce Accounting by Salesforce

Score 8 out of 10
Vetted Review
Verified User
Review Source
The accounting department uses FinancialForce Accounting as its main software. In addition to standard accounting functions, we greatly utilize the multi-currency capabilities and all the automation capabilities to remove manual entries as much as possible and be able to use that time to focus on reporting and planning instead.
  • Data integration which reduces need for manual entry
  • Multi-currency and location capabilities
  • Tagging function
  • System is slow when overwhelmed by data
  • Problems with Action Views
Depending on your sales software, FinancialForce Accounting could be a great option. It has great functionality for multinational businesses (large and small), and integration with sales software gives you the ability to track your sales cycle/expenses through the sales cycle much more easily than without the integration which is very important.
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Anonymous | TrustRadius Reviewer
November 08, 2016

FinancialForce Accounting Review

Score 8 out of 10
Vetted Review
Verified User
Review Source
FinancialForce Accounting is being used by the accounting department for various accounting activities. It is not directly used by any other department in the company but it is integrated with our Salesforce.com platform which is used by the sales department. We use FinancialForce Accounting across all of our locations, in multiple countries.
  • Support for multiple currencies - track fluctuations in currency and impact on business/costs/profits, etc.
  • Great support.
  • Easy integration with Salesforce.com.
  • It took a very very long time to implement and we had configuration issues after the implementation that had to be addressed.
  • Cannot run scheduled reports.
  • Difficult to run reports (training is needed to configure the reports).
FinancialForce Accounting is a good choice if you are using Salesforce.com in your sales department as the integration with Salesforce.com is great (but be warned that the implementation phase takes a very long time). If you want to be able to run scheduled reports, or set up specific reports then you will find it difficult to do so with FinancialForce Accounting. You need to have a lot of training to set up reports.
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Feature Scorecard Summary

Pay calculation (2)
8.5
Benefit plan administration (2)
8.0
Direct deposit files (2)
9.0
Salary revision and increment management (2)
8.5
Reimbursement management (2)
8.0
API for custom integration (3)
8.0
Plug-ins (3)
8.0
Single sign-on capability (5)
9.6
Role-based user permissions (5)
8.7
Dashboards (5)
7.7
Standard reports (5)
6.4
Custom reports (5)
8.0
Accounts payable (6)
8.3
Accounts receivable (5)
7.0
Cash management (6)
7.7
Bank reconciliation (6)
8.2
Expense management (4)
9.0
Time tracking (4)
7.0
Fixed asset management (4)
7.5
Multi-currency support (3)
10.0
Multi-division support (3)
6.0
Regulations compliance (2)
8.5
Electronic tax filing (2)
9.0
Self-service portal (4)
9.0
Global Financial Support (2)
7.5
Primary and Secondary Ledgers (1)
7
Intercompany Accounting (2)
6.6
Journals and Reconciliations (4)
6.8
Enterprise Accounting (3)
7.3
Configurable Accounting (4)
7.2
Centralized Rules Framework (2)
8.5
Standardized Processes (3)
8.0
Inventory tracking (3)
10.0
Automatic reordering (3)
10.0
Location management (3)
10.0
Manufacturing module (2)
10.0
Pricing (2)
8.0
Order entry (2)
8.0
Credit card processing (2)
8.5
Cost of goods sold (2)
8.0

About FinancialForce Accounting

FinancialForce is a native Salesforce application built on the Force.com platform. FinancialForce Accounting is a financial management system that runs in the cloud. The product can be used for multi-dimensional analysis and is designed to support companies of all sizes.
Categories:  Accounting

FinancialForce Accounting Competitors

Pricing

  • Has featureFree Trial Available?Yes
  • Does not have featureFree or Freemium Version Available?No
  • Entry-level set up fee?No