Salesforce.com has teamed with Unit 4 Agresso to create a new company, called FinancialForce.com, that will build upon the Coda 2go on-demand financial application.
This move is another indication that CFO receptivity toward SaaS-based accounting, financial management and enterprise resource planning (ERP) applications is rising.
The new joint venture will build on Coda’s original Force.com-based SaaS solution, and the growing momentum in the SaaS accounting and financial management applications market produced by NetSuite , Intacct and others in this area. (Disclosure: I’ve done work with all of these companies.)
This announcement is newsworthy because it is Salesforce.com’s first direct foray into the financial application market and its first joint venture.
There are probably an assortment of marketing and legal reasons why the two companies have formed this joint venture. However, the reality is that few joint ventures in the tech and software industry have been successful because the partners often … Read More »