FinancialForce -- For a growing small company
July 27, 2019
FinancialForce -- For a growing small company
Score 5 out of 10
Vetted Review
Verified User
Overall Satisfaction with FinancialForce Accounting
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.
- We moved to a subscription business, and FinancialForce cannot facilitate it. After using FinancialForce for 4 years, we had to switch to NetSuite. We had a negative return on investment with all the resources we used to do in-house development in FnancialForce.
- FinancialForce did not have a good way to match payments against invoices, and it was a very manual process. We spent a lot of human hours to get it done.
- It was still relatively cheap, so for the 4 years that we used it, the actual cost of the product was what we could only afford at the time.
NetSuite is much better in that it can produce financial statements, has a subscription module, and is just as customizable as FinancialForce. If you have a midsized company, NetSuite may be better suited for your business needs. FinancialForce requires a lot of in-house development for it to work, but it is still better than QuickBooks.