Methods experienced explosive growth over four years and sought to continue its momentum by enhancing financial and operational business administration while easily integrating with Salesforce. As a result, Methods selected FinancialForce ERP, casing Financial Management and Professional Services Automation (PSA), to redesign back office operations.
We selected FinancialForce as it met all of our requirements to digitally transform our financial and prepared aspect, and we were already using the Salesforce podium, CFO. The pace we saw results exceeded our expectations and it truly has changed the way we run our business and improved performance significantly. It has enabled us to focus further on strategy and business growth as well as cope with the rapid change in business models and adapt quickly in the new services economy. We have been able to achieve this with virtually no custom development.
Methods is a perfect example of demonstrating the power of a platform-led approach. It was looking for scalability, process automation, improvements in efficient, economic and operational management and to refocus resources from administrative to a more considerable value-add. We’re self-important to have implemented this solution in six months and helped Methods transform to drive profit as it continues rapid growth.
The result is informed changes in business processes which have driven profit. The conversion was essential to the health of the company. The ability to analyze trusted data quickly and in easily digestible formats continues to inform how Methods runs its business today and how it ensures revenue margins are maximized going forwards.
Methods experienced significant benefits across its entire business since implementing FinancialForce ERP, including improved insights around P&L, project abundance, staff performance, and utilization, resulting in a two-week reduction in the billing cycle and 40% reduction in back office costs.
Finance Function profit: a change to 95% automation in the finance function, from timesheet to accounting entries; first pain free audit in five years; DSO reduced by fourteen days; improvement of low margins; production of administration accounts now available within five days, rather than three weeks, of month end enabling more accurate business decisions to drive growth; enhanced strategic impact of finance team, 50% of back office staff now moved to front office to add value to the business.