On 22nd March 2022, FinancialForce announced its latest release of Financial Planning, an all-in-one platform for financial planning and analysis solutions. FinancialForce is the leading provider of customer service business applications across finance and services empowers team members to run a digital business and become valuable partners to the entire organization. Mindful of the most popular theme in all FinancialForce applications, it was expected for the new solution to deliver a unified 360-degree view of the customers. However, there are many other add-ons to the latest Financial Planning solution. Added features claim improved enterprise-wide agility and collaboration needed for planning, forecasting, and reporting to escalate decision-making and company growth.
Nonetheless, the most exciting part about the new FinancialForce solution is its ability to address some of the biggest challenges FP&A teams face today. Issues such as the hassle of error-prone data collection processes, an overreliance on spreadsheets to manage planning and forecasting, and the inability to provide strategic recommendations due to incomplete insights, can all be eliminated. Incredible, right?
With the help of Financial Planning, businesses can now speed up their planning cycles with customer data, core financials, and analytics all-on-one secure platform, with no integration requirements. One single truth means companies can save countless hours usually spent on manual collecting, preparing, and correcting data from across the organization, smashing departmental silos, drive cross-business collaboration. And instead, spend more time analyzing data to provide future recommendations that accelerate growth. As a result, businesses can make important decisions quickly, adjust assumptions on the fly, and take a more realistic approach towards corporate strategy w.r.t financial modeling and planning.
Key highlights of FinancialForce Planning mentioned in the press release:
Greater control of the planning process: Whether it’s top-down or bottom-up, business teams can create effective plans without version control issues. They can also recommend different budget options to management with greater confidence.
Better planning and better outcomes: Teams can quickly build multiple what-if scenarios using calculation rules and automation. They can also define different dimensions so they can dig into the details that matter most and make better business decisions, faster.
Deeper enterprise-wide collaboration: Forecasts, plans, and budgets can be created, shared, and updated across the enterprise, keeping everyone on the same page as to the state of the business.
A single, connected platform: Teams can deliver accurate plans with core financials and analytics all on a single platform, thereby speeding up planning cycles with a single source of truth.
