© The Financial Times Ltd 2015 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
FinancialForce.com Acquires the Business and Assets of Less Software
Introduces FinancialForce Supply Chain Management; Unites CRM, Supply Chain and Finance on the Salesforce Platform
Company Also Acquires Vana Workforce and Introduces FinancialForce HCM
SAN FRANCISCO, CA--(Marketwired - Nov 18, 2013) - FinancialForce.com, the company revolutionizing back office applications, announced today that it has acquired the business and assets of Less Software including the firm's Supply Chain Management (SCM) solutions. The cloud application suite allows companies to acquire, manage and sell inventory efficiently by automating the logistics and order fulfillment process. This acquisition represents a significant step in FinancialForce.com's vision to build a borderless back office by eliminating barriers inside and outside an organization, including those that prevent companies from forming closer relationships with their customers and suppliers. The company also announced today that it has acquired Vana Workforce, a global human capital software provider and maker of a leading HR application on the Salesforce Platform.
The acquisition of Less Software's business and assets adds comprehensive SCM capabilities to FinancialForce.com's back office solutions including Configure-Price-Quote (CPQ), Order Fulfillment, Service Contracts, Inventory Management, Supplier and Spend Management. The suite of SCM products will be rebranded as FinancialForce SCM.
The SCM suite is a set of native Force.com packages that were architected to work with FinancialForce Accounting, Billing and Professional Services Automation (PSA) from the outset. Companies already using FinancialForce solutions enjoy a single line of sight across their organization, from supply chain to finance, and hyper efficient order to cash and procure to pay processes.
Less Software currently serves midmarket and enterprise customers including companies employing a two tier ERP strategy that require more nimble solutions for their growing or recently acquired subsidiaries. Unlike multi-cloud application alternatives, FinancialForce SCM is a native application on the Salesforce Platform providing users with a consistent experience across the enterprise including: single sign-on, a single reporting database, the same workflow, dashboarding and reporting tools, mobile device support and integration with Salesforce Chatter, the #1 enterprise social network.
FinancialForce.com's SCM applications provide unmatched visibility to customer and trading partner supply chain activity and ensure that the margin sold is the margin seen in financial reports, which are always up to date and accurate. When combined with FinancialForce Billing, Accounting, Revenue Recognition and PSA applications, customer centric organizations are armed with all the information they need to serve customers including shipment status, contract changes, reverse logistics information, invoices, payments, professional service project status, discrete margin analysis and general business profitability. The application is ideal for companies with multi-element revenue models that might combine traditional product sales, professional services and recurring revenue line items on a single customer invoice, a growing trend in businesses today. Businesses such as value added technology resellers that sell hard goods, software subscriptions, maintenance services and professional service projects are perfect candidates for this type of functionality.
"I am extremely pleased to add Less Software's innovative SCM solutions to our back office repertoire," said Jeremy Roche, president and CEO at FinancialForce.com. "By being embedded in Salesforce CRM and taking a one platform approach to SCM, companies can achieve more collaborative relationships with customers, suppliers and partners. This is just the beginning in our quest to redefine the role of the back office."
"At Less Software, it has always been our top priority to simplify the supply chain so sales teams can engage more effectively with their customers. Our closed loop approach begins with CPQ applications and progresses through Order Fulfillment. It is now extended through the receivable process with FinancialForce.com's billing and accounting applications," said Mike Flanagan, co-founder and CEO at Less Software, and newly appointed SCM General Manager at FinancialForce.com. "By joining forces with FinancialForce.com, to couple SCM with PSA and other back-office applications, is truly the vision we have always held and we are thrilled to see this reality."
FinancialForce SCM, available today on the AppExchange, can be continued to use as a standalone solution or used with any other FinancialForce.com application. For more information, please go to: www.financialforce.com
FinancialForce.com is revolutionizing the back office. Built on the Salesforce Platform, our Accounting, Billing, HCM, PSA, Revenue Recognition and SCM apps eliminate barriers and inefficiencies between the front and back office to help companies grow the top and bottom line. Founded in 2009, FinancialForce.com is backed by two of the biggest and best players in the business, UNIT4 and salesforce.com.
Director of Public Relations