FinancialForce, the number one customer-centric ERP and PSA cloud vendor built on the Salesforce Platform, announced that Ansarada, an AI-powered dealmaking platform provider, has used FinancialForce Accounting to enable a continuous accounting cycle and seamlessly connect essential business information to finance.
Operating for 12 years, Ansarada offers a platform for important business events, such as mergers and acquisitions, capital raises, IPOs and audits, and has worked with a huge portfolio of impressive customers such as KPMG, PwC, the top ten Australian legal firms, and investment banks. As Ansarada transformed to a platform-based business, scaling internal processes to support anticipated business growth was a priority.
“We needed to evolve from month-end reporting, and empower our financial team to conduct robust financial planning and analysis,” explains Ansarada CFO Rachel Riley. “Lack of integration between business systems and the finance system, however, forced the team to resort to manual processes for essential financial operations, including ensuring compliance with key regulations.”
Already a Salesforce user, Ansarada has seen an array of business benefits since switching to FinancialForce. Instead of, up to, a 24-day lag before invoicing and one week to full close, finance can invoice immediately in a single day. This translates to a smooth, seamless process for customers and a faster cash cycle for Ansarada. Even with multiple currencies and bank accounts around the globe, finance can now cash match in just a few hours, down from eight hours per day. The company can now also connect contracts in Salesforce CRM directly to data around customer usage and automate the entire process.
“FinancialForce was a logical choice to get that direct connection and allow seamless integration between CRM and the finance function,” said Rachel Riley, CFO, Ansarada. “We can cater for business operations more effectively as we are able to see the entire customer journey from the moment they were a lead through to the time an invoice is paid and offer a better service to our customers. It’s impossible to do this with siloed information. Not only that, but the automation, systems integration, and efficiencies we’ve seen have given us cost benefits and time savings.”
Simon Peterson, Managing Director, Australia and New Zealand at FinancialForce added,“Ansarada is a platform-based company offering innovative services, so they understand the benefits of bringing data together on one platform. We felt great synergy around their customer-centric approach and look forward to working with them as they continue to scale.”
FinancialForce is Ansarada’s main financial system and is used for everything from bank reconciliation to journalings, financial reporting, and accessing data for reporting. As a cloud-based company it now feels it is using the right customer-centric strategy to enable its finance system to scale as its business grows.
FinancialForce is the leading cloud ERP provider for the new services economy. The #1 ERP and PSA native to the Salesforce platform, FinancialForce unifies data across the enterprise in real-time, enabling companies to rapidly evolve their business models with customers at the center. Founded in 2009 and headquartered in San Francisco, FinancialForce is backed by Advent International, Salesforce Ventures, Technology Crossover Ventures, and UNIT4. For more information, visit financialforce.com.
Founded in 2005, Ansarada (ansarada.com) is an AI-powered dealmaking platform provider focused on helping companies and their advisors thrive amid their most important business events, such as mergers and acquisitions, capital raises, IPOs and audits. Ansarada’s platform draws on more than 20,000 business deals and transactions, valued at over $2 trillion to deliver the most sophisticated dealmaking technology & artificial intelligence on the market, ensuring businesses are always prepared to succeed.