The Importance of Linking CRM Services and Financials

Understanding the financial impact of business transactions is critical in today’s competitive and regulatory environment.  Not understanding these impacts can lead to poor business process decisions and incorrect financial reporting.

Join my session in the Controlling 2014 conference, Case Study: How Rockwell Automation integrates CRM Services with ECC for seamless financial postings and reporting, to gain a better understanding of the link between CRM Services and the resulting financials.  We’ll also discuss some tips and tricks to help you manage your services businesses, such as:

1) Become familiar with the pricing conditions used on CRM Services orders.  Pricing conditions drive revenue, G/L account determination, and some costs like travel expenses.  Ensuring they are set up and used properly on orders is key for accurate financial reporting.

2) Understand your materials.  Material item category and CRM transaction type ultimately drive revenue recognition type.  Therefore, Business and Finance resources need to understand the definition of each product offering to ensure that when they create new materials, the material master is set up correctly so it maps to the appropriate revenue recognition type.  In turn, Customer Services must also understand the product offerings and which materials should be used on which CRM transaction types to achieve the desired revenue recognition.

3) Learn to use CRM reports.  They are invaluable for researching issues and ensuring all data is transferring successfully to ECC.