In a brief announcement, FinancialForce celebrated the strong momentum that it has enjoyed across 2021 for its PSA solution. The announcement comes at a time when the PSA market is heating up. Planview is starting to warm up its marketing engine and PR after the acquisitions of Clarizen and Changepoint. It has recorded recent wins at Standard Chartered and Shiji and grown rapidly. However, the company now faces another large competitor after the merger of Kimble and Mavenlink was announced at the end of last year.
Looking back at 2021
FinancialForce aims to steal a march whilst that Kimble/Mavenlink works to complete their merger. Built on the Salesforce platform FinancialForce is also likely to leverage its wider solution portfolio, including ERP, as it looks forward to 2022. 2021 was a success on several fronts.
Tony Kender, Chief Revenue Officer, FinancialForce, commented: “This comes as FinancialForce continues to be recognized as the PSA industry leader.”
The company won several accolades during the year. For the twelfth consecutive year, it was the top PSA for Enterprise according to G2. It was also the number one vendor in the G2 mid-market PSA grid. SPI Research also named it the most adopted PSA solution for the third year in a row in its annual PS Maturity Benchmark.
Customers seem happy with Lori Williams, President of Services at long time customer Traction on Demand, commenting: “With FinancialForce, we now have a fully automated snapshot of our customer portfolio. This has positively impacted our business, and we have realized a 100% ROI from FinancialForce as a result.”
FinancialForce also continues to update its PSA solution. In Fall 21, the major update delivered enhancements to Resource Management for both Resource Managers and consultants. The former has access to a wider set of criteria, and the latter are prompted with a Next Best action to improve their skills based on assignments.
It also revealed its Services CPQ solution to deliver an end to end solution on the Salesforce platform. In its latest release, Winter 22, it strengthened its integration with Jira.
Enterprise Times: What does this mean
FinancialForce is keeping up a cadence of announcements as it looks to cement the growth of 2021. However, while it has received accolades and delivered product updates, there is a shortage of information about its revenue and growth figures. Many companies use the business update to deliver specific numbers around growth. FinancialForce seems to have avoided that in this announcement. Will it reveal more in the coming weeks?
