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Salesforce.com Expands into Accounting Solutions with FinancialForce.com Partnership

Strategic Insights

— 1 min read

Salesforce.com, a leader in the cloud computing space, has entered the business of selling accounting software by collaborating with a Dutch company. The new accounting solution, FinancialForce.com, will provide finance professionals and CFOs with efficiency and confidence in performing complex accounting operations. This move marks Salesforce's foray into a new area, where it will face competition from established players like Microsoft Corporation, Intuit Inc., and Sage Group Plc.

Key Takeaways:

  • Salesforce.com has partnered with Unit 4 Agresso, a Dutch company, to set up FinancialForce.com, which will sell accounting software to finance professionals and CFOs.
  • The new accounting application, FinancialForce.com, will use CODA's cloud accounting application to deliver finance and accounting solutions in the cloud.
  • Both Salesforce and non-Salesforce customers will be able to use the application through FinancialForce.com.
  • Salesforce will face competition from established players like Microsoft Corporation, Intuit Inc., and Sage Group Plc, which sell accounting software to Small and Medium Business (SMB) customers.
  • Salesforce.com's cloud computing applications were recently selected by the General Services Administration's (GSA) cloud computing storehouse named Apps.gov.
  • Salesforce introduced Service Cloud 2, an enhanced solution to customers, including Salesforce Knowledge, Salesforce Answers, and Salesforce for Twitter.
  • The "Contact Manager," a new edition from Salesforce.com, provides tools to manage business contacts and customers in the cloud, mainly catering to SMB customers.

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Sources:

  • "About Zacks Equity Research" (Zacks Equity Research, no date given)
  • "Welcome to Zacks" (Zacks Investment Research, no date given)
  • "Profit from the Pros" (Zacks Equity Research, no date given)

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