When we complete our full deployment of Financial Force, we expect to realize all of these benefits and more (the following was prepared as an introduction of Financial Force to executive decision makers at Thomson Reuters):
Resource Management will allow us to forecast, plan, and manage resources to increase billable utilization. Forecasting includes viewing projects in the pipeline to assess necessary skills and deliver the right project team at the right time. Resource planning will show us all aspects of the PS resources (project time, PTO, non-billable time) to optimize staffing decisions. Smart capacity planning with a view of the backlog (sold projects not yet completed) and forward-looking views of the sales pipeline so we can address gaps between supply and demand before they occur. Today we rely on MS Excel and email and can only perform rudimentary resource management.
Sales & Services Collaboration means we can work as one team through the entire sales lifecycle. Services can partner with Sales to create accurate forecasts, timely services estimates, and manage customer expectations before a deal is signed. Once sold, stronger collaboration will ensure a smooth handoff from sales to services for delivery. Today, any collaboration is all via email and phone calls.
Project Management is at the core of Financial Force allowing us to holistically manage our service delivery to clients by providing a single view of every project to keep them on track, on budget and delivered with the highest quality. The system will provide a platform to deploy our global implementation methodology, define structured KPIs and standardize across the entire PS team globally. Today, Project Management is done ad hoc or via a variety of one-off tools across the segments, with primary being MS Excel and information lagging real-time need. For projects involving partners or contractors, we would be able to grant them access to the specific project they should be able to see for direct time entry and project documentation. We have nothing like this today.
Project Financials include powerful forecasting and analytics tools that will give us more control and predictability around the financial components of every project (budgets, estimates, costs, bookings, billings, revenue recognition). We will be able to create one or more budgets for each project and track actual time & expenses against that budget. We will have multiple currency support which will allow us to feed billing data directly into SAP4Hana. Today, we only have project financial data after the fact and too late to take corrective actions with customers about scope changes. Much of the financial data is collected manually via MS Excel and is error-prone accordingly.
Time & Expense Management is highly configurable and easy to use, which will speed up time entry and approvals as well as provide fast identification and correction for missing time. Mobile device apps for time entry and approvals will facilitate compliance by staff. Today’s SAP PSA system is a dated, error-prone tool that requires significant back-end administration on simple tasks such as time management.
Forecasting, Reporting & Analytics will allow us to easily surface and manage our KPI’s across all projects and resources. Using Salesforce Einstein Analytics will allow us deep visibility and insights into billings, backlog, capacity, and utilization. Combining these analytics will increase predictability with clear views into all data points to help us grow the PS business. Today, we rely on data exports into MS Excel models and process items manually in a fire-drill fashion; We lack the information that is needed to make real-time decisions for the PS business. Review collected by and hosted on G2.com.