FinancialForce.com, a leading cloud ERP provider on the Salesforce1 Platform, today announced that Varrow, a leader in cloud, mobility and security solutions and FinancialForce.com customer, was named a "Best-of-the-Best" services organization in SPI Research's 2014 Professional Services Maturity™ Benchmark. Varrow was specifically recognized for its investment in FinancialForce PSA and FinancialForce Revenue Recognition and their integration with Salesforce CRM. Built on the Salesforce1 platform, these applications are part of FinancialForce.com's suite of ERP products, which work seamlessly with Salesforce CRM to give companies 360 degree customer views.
Out of the 238 organizations that participated in SPI Research's 2014 Professional Services Maturity Benchmark, thirteen firms significantly outperformed the benchmark average with considerably higher profit, larger projects and more satisfied clients. Among the top five percent, Varrow increased its billable utilization by 81 percent leveraging FinancialForce PSA and Salesforce CRM.
"FinancialForce PSA has provided us with increased visibility into our sales pipeline and projects, allowing us to better anticipate demand and develop clear project metrics," said Alan Abbott, director of operations at Varrow. "Using FinancialForce PSA in tandem with Salesforce CRM, we've developed a 360 degree view of clients that has helped us achieve that 81 percent increase in utilization and also this prestigious recognition as a 'Best-of-the-Best' professional services organization."
According to SPI Research and Aberdeen's 2013 PSA report, organizations with an integrated CRM and PSA solution demonstrate significant performance improvements over those with non-integrated solutions. More specifically, organizations experience 17 percent more year-over-year professional services revenue growth, 10 percent higher customer retention and 20 percent more annual revenue from new clients.
Furthermore, SPI's report demonstrates that companies running CRM and ERP on the same platform will experience higher year-over-year growth, shorter time to staff projects due to improved pipeline visibility and better executive visibility for improved decision making. They will also see an increase in revenue from new clients and higher levels of user satisfaction with both CRM and PSA applications.
"Varrow's inclusion in SPI's 'Best-of-the-Best' report is testament to the fact that integrating PSA and CRM leads to improved growth and ROI," said Doug Tilley, general manager of professional services automation (PSA) applications at FinancialForce.com. "Having PSA and CRM integration, professional services organizations are capable of achieving significantly better results."
In the last three years, four FinancialForce PSA customers have been named "Best-of-the-Best" by SPI Research (2012-2014). These organizations perform in the top five percent globally and have reached utilization rates as high as 86 percent, 25 percent more than average, resulting in $85,000 more revenue per employee than the industry average. These organizations achieved such outstanding results due to the extreme advantages that an integrated CRM (Salesforce.com) and FinancialForce PSA deliver.
FinancialForce.com delivers ERP at Customer Speed ℠. Built on the Salesforce1 Platform, FinancialForce ERP equips customer-centric businesses with a unified cloud platform and all the applications necessary to grow both the top and bottom line. Our Financial Management, Human Capital Management (HCM), Professional Services Automation (PSA) and Supply Chain Management (SCM) apps allow businesses to increase the speed in which they operate and be more responsive along every touch point of a customer’s journey. Founded in 2009 and headquartered in San Francisco, FinancialForce.com is backed by UNIT4 and salesforce.com/.
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