Salesforce has taken a minority stake in FinancialForce.com
Salesforce gets behind accounting startup
/v3-uk/news/1946746/salesforce-accounting-startup
01 Oct 2009, Shaun Nichols , V3
Salesforce.com has taken a stake in a new accounting service set to launch on its Force.com platform.
The enterprise services vendor has taken a minority stake in FinancialForce.com, a financial software startup which creates tools exclusively for the Force.com platform.
FinancialForce parent company Unit 4 Agresso said that it will retain a controlling stake in the new firm, which sells an adaption of the CODA 2go online accounting service.
The new company hopes that the service will allow businesses large and small to access powerful accounting tools within the Force.com platform.
"FinancialForce.com will do for finance and accounting what Salesforce.com has done for customer relationship management," said CODA chief executive Jeremy Roche.
"We are enabling customers of all sizes to choose accounting as part of a broader, integrated cloud computing solution, and giving them the power of enterprise accounting without the pain of owning the software themselves."
George Hu, executive vice president of marketing and alliances at Salesforce, will have a seat on the FinancialForce board.
© Incisive Media Investments Limited 2010, Published by Incisive Financial Publishing Limited, Haymarket House, 28-29 Haymarket, London SW1Y 4RX, are companies registered in England and Wales with company registration numbers 04252091 & 04252093
Do you agree?
SO! Small business ERP not accounting...
For decades, solutions from SAP, Peoplesoft, JD Edwards have been the privilege of medium and large enterprises who understand the value of one system to run their business. At the other end of the business spectrum accounting system vendors force feed small businesses their incomplete solutions. Investing in an accounting system is like buying the last couple of pages of a book, you get the end of the story and have no view of how the story began. Small businesses need ERP just as much as their larger counterparts not accounting systems. It has to be affordable, easy to use and deploy like solutions from SaaS vendors such as salesorder.com and their peers. Lets all hope SF keeps this in mind....
Posted by Nick Spooner, 08 Oct 2009