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THE RESOURCE FOR CORPORATE FINANCE, ACCOUNTING & TREASURY PROFESSIONALS
Tom Brennan, VP of Marketing, FinancialForce.com
Scott Travasos, CFO, Blue Shield of CA Foundation
When It’s Time to Upgrade Financial Systems & Do it Right
Learning Objectives
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THE RESOURCE FOR CORPORATE FINANCE, ACCOUNTING & TREASURY PROFESSIONALS
Tom Brennan, VP of Marketing, FinancialForce.com
Scott Travasos, CFO, Blue Shield of CA Foundation
When It’s Time to Upgrade Financial Systems & Do it Right
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5 Reasons Why People Change Systems
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Business Driven Decisions To Change
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Technology Driven Decisions To Change
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Corporate & Business Combination Driven
Decisions To Change
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Vendor Driven Decision To Change
Scott Travasos, CFO
I knew it was time to upgrade
Separate Systems Weak Internal
Communications
Outdated Systems and
Processes
No Control over Data
Manipulation
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Why The Cloud Made Sense
Multi-tenant vs Single-tenant vs On-Premises
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Advantages of finance in the cloud
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Advantages of Cloud Finance
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Advantages of Cloud Finance
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One Cloud Approach
Facebook has become a way of life
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Facebook for Finance?
Source: Comscore, June 2011
Social Users Exceed Email Users
“The expectation now is that the tools people use at work are as easy and as fun as the ones they use in their personal life” (David Stein – CEO Rypple)
We work in virtual companies
We are working socially…the hard way
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Social Media Stats
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Social Media can…
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Life in the Finance Dept Before
• Customer interaction data readily available to Finance
• Finance Department spends less time emailing
• Finance and Other Departments relationship more collaborative
• Less Work! Employees outside of finance can see data
Life in the Finance Dept After
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A Winning Strategy - ROI
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It Has Transformed my Job as a CFO
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