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How does FinancialForce SCM compare with other Operations Management apps?
In today’s world, most supply chains are managed in multiple systems, and up to 50% of people who sell business-to-business (B2B) are still doing their quoting in Excel. FinancialForce SCM is a supply chain management application that manages multiple fulfillment models and provides real-time inventory visibility so businesses can put more focus on the issues that matter most.
Native on the Salesforce Platform, FinancialForce SCM involves three core pieces: order fulfillment, inventory management, and supplier or spend management. Rather than having all of these pieces housed in separate systems, FinancialForce SCM has gone ahead and integrated them into one system. This enables businesses to handle multiple sales channels seamlessly, while also controlling spend and simplifying proposals and contract management.
FinancialForce SCM is a supply chain management solution that’s native on the Salesforce Platform. Using FinancialForce SCM, businesses can manage order fulfillment and configure price quotes , as well as handle contract management, inventory management and supplier management. Important features include powerful price quoting, flexible price lists and EDI integration. Users can manage their inventory with warranty, RMA, inspection, receiving and shipping modules.
Being on the Salesforce.com platform makes it possible for FinancialForce SCM to provide its users with a complete 360 degree view of everything within their systems — in real-time. This means that users are never waiting for their systems to sync before making strategic business decisions. And because FinancialForce SCM’s procurement is on the same system as its sales, users can see their margins at all times.
FinancialForce SCM was developed for companies that range in size from small (with 50 or more employees) to large. FinancialForce SCM spans many industries, however the solution is not well suited for manufacturers or retail/brick-and-mortar stores. Instead, FinancialForce SCM is best suited for value-added resellers, medical device companies and technology hardware and software providers. The application spans across multiple departments from sales, to operations, to finance.
Using FinancialForce SCM, B2B and B2C businesses are able to access data in real-time. Users can manage multiple fulfillment models within a single system. This means, for example, that a medical device company could manage sales from outside sales representatives and an ecommerce, without relying on two separate platforms to do so.
FinancialForce SCM’s order fulfillment module is integrated into the company’s Inventory management and Advanced - CPQ applications. It supports the selling of both tangible goods (like hardware and mobile phones) and intangible goods (like subscriptions and software). It also manages partial shipments and backorders automatically.
Within FinancialForce SCM is a powerful inventory management module that gives users complete visibility of their inventory in real-time. Users are able to track inventory using rule-based item controls. For example, inventory can be controlled using serial and lot numbers, shelf life and revision numbers. Businesses are also able to sell, track and manage inventory based on condition.
In addition to seeing a clear overview of the availability of any item, FinancialForce SCM can quickly access inventory breakdowns by warehouse or by ownership. Users are able to see a product’s inventory breakdown as well as sales and procurement history all on one screen, helping them make informed product decisions.
FinancialForce SCM uses workflows and approval processes to automate and prioritize warehouse activities. Teams are able to automate supply requisitions using safety stock, reorder points and minimum and maximum acquisition lead times.
Cycle counting can be integrated into everyday warehouse activities, and inventory can be managed based on the customer, supplier or project. A business that is waiting to transfer parts to a warehouse, for example, can quickly see all of the details of that shipment, including the carrier and shipment information, on one centralized page.
Action queues are available to warehouse personnel and provide an upstream view of daily activities. These are powerful as it allows them to be proactive vs reactive. A shipping manager can see what is scheduled to be picked and delivered to shipping and if he or she sees something needs to be expedited for next day delivery he or she can communicate out to the team to ensure it takes priority.
Complete visibility of the procurement process begins with the requisition. Requisitions are requests to spend, and they most commonly occur when employees request funding for purchases. For example, an employee might request $2,000 to spend on a new laptop. If the manager approves the requisition to spend, then that item would be turned into a purchase order automatically.
FinancialForce SCM enables businesses to manage their spending policies with electronic workflows and approval routing. Multiple requisitions can be funneled into a single purchase order, and procurement hierarchies can be created based on commodity codes, suppliers or supplier agreements.
FinancialForce SCM runs on the Salesforce.com platform. This enables users to take advantage of both solutions with a single sign-on and with no hardware or syncing required.
FinancialForce SCM sells as a SaaS model, charging businesses on a per user/per month basis. FinancialForce SCM also charges an implementation fee for the first setup.
Supply chain management solution that manages both warehouse and drop ship fulfillment models
Native on the Salesforce Platform
Best suited for value-added resellers, medical device companies, and technology hardware and software providers
Involves order fulfillment, inventory management, and supplier or spend management
Enables businesses to handle multiple sales channels
Is part of the FinancialForce ERP Suite