FinancialForce sees remarkable growth in small and medium customers; Salesforce Integration Delivers Single Customer Record to Improve Service Delivery
NEW YORK, NY--(Marketwired - Dec 15, 2016) - Salesforce World Tour -- FinancialForce today announces it has seen remarkable growth in small and medium-sized customers H1 2015 to H1 2016, with the majority implementing FinancialForce and Salesforce software applications to help them achieve fast business growth.
FinancialForce captured a greater share of the growing cloud ERP market for SMBs last year. As businesses implemented FinancialForce software applications to help them achieve and manage fast business growth, the software scales with them. Many also use Salesforce solutions and now have improved visibility with one single customer record across their organizations. Momentum continued in multi-app sales across the FinancialForce suite of ERP applications including Financial Management, Professional Services Automation (PSA) and Human Capital Management (HCM).
This announcement follows a milestone year in 2015 where FinancialForce surpassed 1,000 customers and achieved approximately 60 percent growth in subscription revenue year-over-year.
Despite some global corporate turbulence, SMB markets in the US and UK are thriving. There are around 28 million small and midsized businesses in America, according to the Office of the United States Trade Representative. These account for 54 percent of all US sales and make up nearly two-thirds of new private sector jobs. There is a similar impact in the UK, where SMBs accounted for 99.9 percent of all private sector businesses in early 2015, according to the Department of Business, Innovation & Skills.
"SMBs are a powerful economic force. In the seven years since founding FinancialForce, we have seen many hugely ambitious small and mid-sized businesses hit barriers when undergoing rapid growth," said Jeremy Roche, President and CEO of FinancialForce. "They come to us for different reasons than our enterprise customers, but efficiency is their key driver. We're proud to be able to provide solutions that scale with them, whether to handle finances, HR, services or across the full back-end of their businesses and watch as they burgeon into highly successful global enterprises. Those using Salesforce maximize benefits with visibility across front and back office delivering one version of the truth."
"We've seen the hunger for true and real-time customer insight growing stronger as the age of the customer continues to shift businesses to develop longer term customer relationships," continued Roche. "As more businesses begin to deliver services and billing through subscriptions, we expect to see more demand come from our increasingly sophisticated SMB customer base."
Recent and notable FinancialForce SMB account wins in North America and the U.K. which are also using Salesforce include:
Other SMB customers who have transformed their businesses by switching to FinancialForce and Salesforce include:
Founded in 2009, FinancialForce is the leading Cloud ERP vendor with apps built entirely on the Salesforce Platform. The company's Financial Management, Professional Services Automation (PSA), and Human Capital Management(HCM) offerings provide services-centric businesses with a platform that organizes sales, services, finance and HR entirely around their customers. Headquartered in San Francisco, FinancialForce is backed by Salesforce Ventures, Technology Crossover Ventures, Advent International and UNIT4. For more information, visit www.financialforce.com.
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