FinancialForce is a cloud-based Enterprise Resource Planning (ERP) solution that runs natively on the Salesforce platform. It streamlines financial management, professional service automation (PSA), human resources, and billing processes. By providing unified data and analytics, FinancialForce helps businesses manage customer operations, automate key business processes, and improve financial visibility. Its integration with Salesforce allows organizations to manage all customer-related operations, from billing to service delivery, in one platform. By leveraging Frends iPaaS, businesses can integrate FinancialForce with other platforms to automate workflows, synchronize data, and achieve end-to-end process optimization.

Business use cases

Automated invoice generation and processing

FinancialForce simplifies billing and invoicing, but organizations often rely on other systems for accounting, ERP, or e-commerce. Frends can integrate FinancialForce with platforms like QuickBooks, NetSuite, or Shopify to automate invoice workflows. For example, when a deal closes in Salesforce, Frends can trigger FinancialForce to generate an invoice, send it to the customer, and update records in external accounting systems, ensuring a seamless billing process.

Revenue recognition and compliance

FinancialForce tracks revenue data, but managing compliance with accounting standards like ASC 606 and IFRS 15 requires proper synchronization with financial systems. Frends can automate workflows to ensure all relevant revenue data is correctly mapped across FinancialForce and external accounting or ERP systems. For instance, Frends can synchronize revenue allocations from FinancialForce with SAP or Xero for reporting and auditing purposes.

Integration with Salesforce for enhanced customer management

FinancialForce is built on Salesforce, but syncing data between FinancialForce modules and other Salesforce-native or third-party apps can still become a complex process. Frends can automate synchronization workflows to ensure consistency. For instance, when customer data or project updates are logged in Salesforce, Frends can automatically update these details in FinancialForce PSA, helping ensure accurate project billing and resource allocation.

Real-time expense reporting

Organizations often use FinancialForce for expense tracking alongside external systems like Expensify, SAP Concur, or Workday. Frends can bridge these tools with FinancialForce to automate expense workflows. For example, when an employee submits an expense report in Expensify, Frends can validate the data and update FinancialForce in real-time to ensure accurate financial record-keeping and reporting.

Comprehensive resource management automation

FinancialForce PSA allows businesses to manage project resources effectively, but integrating this data with project management systems like Jira, Asana, or Monday.com is critical for deeper insights. Using Frends, organizations can automate the flow of resource and time tracking data between these systems. For instance, when a project milestone is completed in Jira, Frends can update the resource and billing status in FinancialForce.

Multi-entity and currency reporting

Businesses operating globally rely on FinancialForce to manage multi-entity and multi-currency financial data. Frends can extend FinancialForce's capabilities by integrating it with global data systems or analytics platforms like Tableau and Power BI. For example, workflows can extract financial data from FinancialForce, convert currencies, and generate entity-specific reports for global financial visibility.

Automated professional services billing

For service-oriented businesses using FinancialForce for PSA, billing clients accurately for engagements can be automated using Frends. For example, Frends can integrate FinancialForce with time tracking tools like Toggl or Clockify and automatically calculate billable hours, generate invoices, and send the finalized invoices to clients via email.

Payroll integration and employee management

FinancialForce supports human capital management (HCM), but businesses can expand its functionality by integrating it with payroll providers such as ADP, Paychex, or Gusto. For instance, Frends can automate workflows to pull payroll data (e.g., hours worked, deductions) from FinancialForce and sync it with the payroll platform to process salaries accurately and on time.

Integration with procurement systems

FinancialForce often integrates with procurement and inventory systems to ensure streamlined purchasing workflows. Frends can automate purchase order (PO) creation and approval by connecting FinancialForce with procurement tools like Coupa or SAP Ariba. For instance, when a PO is raised in Coupa, Frends can validate and record it in FinancialForce, notify approvers, and update inventory levels.

Project-to-cash automation

Automatically linking project data, billing, and payments is critical for service companies. Frends can integrate FinancialForce with payment gateways like Stripe, PayPal, or Square to streamline project-to-cash workflows. For example, once a project milestone is marked as complete in FinancialForce PSA, Frends can trigger an invoice generation, facilitate payment via a gateway, and update cash flow records in FinancialForce.

Customer subscription billing

For organizations with subscription-based billing models, Frends can integrate FinancialForce with customer subscription platforms like Recurly or Chargify. For instance, Frends can monitor recurring subscriptions and ensure records remain synchronized between FinancialForce and subscription platforms to track revenue recognition and payment statuses accurately.

Accounts receivable and payable automation

Automating accounts receivable (AR) and accounts payable (AP) processes can significantly improve operational efficiency. Frends can integrate FinancialForce with external AR and AP systems or tools like Bill.com. For example, Frends workflows can automatically send payment reminders for overdue invoices from FinancialForce or automate payment reconciliation once customer payments are received.

Real-time financial dashboards

FinancialForce's financial reports can be enhanced through integration with analytics platforms like Power BI, Tableau, or Google Data Studio. Frends can automate workflows that extract key financial metrics from FinancialForce and load them into dashboards, enabling decision-makers to monitor KPIs such as cash flow, revenue, and profitability in real-time.

Compliance and audit automation

For businesses in heavily regulated industries, ensuring a robust audit trail is critical. Frends can automate data archiving and compliance workflows by extracting transaction and audit logs from FinancialForce and storing them securely in systems like AWS S3 or Azure Blob Storage. This ensures compliance data is always available during financial audits or regulatory inspections.

Advanced inventory management syncing

For businesses managing inventory alongside financial operations, Frends can integrate FinancialForce with inventory management systems like NetSuite or SAP. For example, when order-related inventory is updated in FinancialForce, Frends can sync the changes with inventory platforms to prevent stock mismatches and ensure proper inventory cost allocation.

Vendor and partner data synchronization

Many organizations need to share financial data with external vendors or partners. Frends can automate workflows to exchange data between FinancialForce and vendor management systems. For instance, Frends can synchronize payment terms or transaction records between FinancialForce and vendor platforms like SAP Fieldglass while ensuring that discrepancies are flagged for review.

Custom approval workflows

Frends can enhance FinancialForce's approval processes by integrating with email or team communication tools. For instance, when an invoice or PO is awaiting manager approval in FinancialForce, Frends can send email or Slack notifications to the approver. Once approved or rejected, Frends can update FinancialForce in real-time and notify relevant stakeholders.

Long-term data archival and storage

Organizations often have long-term data retention policies for financial records. Using Frends, businesses can schedule workflows to periodically extract records from FinancialForce and store them securely in archival systems like Google Cloud, AWS Glacier, or Azure Storage. This ensures that historical financial data is readily available for compliance, analysis, or auditing purposes.