FinancialForce profits from PSA investment
Project Management Solutions

FinancialForce profits from PSA investment

Approaching 10 years old, FinancialForce is, appropriately enough for that stage of life, changing and growing. Straddled between bases in northern England and San Francisco, the company made its name as perhaps the most prominent of startups to attach themselves to the platform with a cloud-based ERP system with an emphasis on financial management.

At its recent Community Live annual user conference in Las Vegas, the company unveiled Accelerate, a package of products and services designed to speed up time to value and utilisation, and help deal with that eternal business challenge - change. FinancialForce has been shifting too, says CEO Tod Nielsen. It has grown at a CAGR rate of over 30 per cent for the last three years, added over 300 customers in its last fiscal year and now has annual recurring revenue of about $125m.

Accelerate, he tells me over a transatlantic phone line, is a reaction to a realignment CIOs are seeing with reference to the old triangle of people, process and technology concerns.

"Technology was always the long pole in the tent but now it's how you deal with the people and processes, so change management is key," Nielsen says. "Accelerate is not something you buy but it's infused into the entire journey customers take with us."

FinancialForce raised plenty of eyebrows by tying itself so closely to the Salesforce banner a decade ago but the move turned out to be prescient as Salesforce has continued to grow and broaden its ecosystem after revolutionising the CRM sector.

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Martin Veitch

Martin Veitch is Contributing Editor for IDG Connect

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