What’s New in Place: Latest Updates in Version 1.57
The path to growth in SaaS organizations starts with building a solid foundation and expanding with strength, guided along the way by data-driven decision-making.
Our latest release, 1.57, is all about that kind of expansion. Each of the major updates make our core solutions more accessible and more useful to companies across the globe, helping them better understand the financial implications of plans and decisions they might follow on their path.
Here is what you can expect in this post:
- 40+ new reports and Dashboard Components
- Place is Now Available on Salesforce Professional Edition
- Forecast Effects of Value-Added Tax on Cash Flow and P&L
40+ New Reports and Dashboard Components
Our stash of reports and dashboards continues to grow. We’ve added another 23 reports and 20+ matching dashboard components to our robust pre-built library.
Reports include crucial analytics that growing SaaS businesses require to inform investors, the board, and make data-informed decisions for the company’s direction.
This includes various reports and dashboard components on Bookings ARR, Gross Margin, Cash Burn Forecast, 12 Month Compounded Monthly Growth Rate, and so many more.
Check out a sneak peek at the dashboards below:
Click here for the full list of reports and dashboards we’ve added.
Place is Now Available to Businesses Using Salesforce Professional Edition
Salesforce Sales Cloud is offered in four different tiers, allowing companies to choose the right edition based on their unique needs from the platform.
For companies below 50 employees, Salesforce’s Professional edition can sometimes be the best value. Unfortunately, this often means their org is unable to use many AppExchange apps, including Place, as our managed package supported Enterprise and Unlimited editions.
With our 1.57 release, that has changed.
Now, companies using Salesforce Sales Cloud Professional edition can buy Place and gain access to the solutions available to users of Sales Cloud Enterprise and Unlimited editions including:
- Forecasting and Planning - robust forecasting, reporting, and scenario analysis right in your Salesforce instance
- Revenue and Billing - Automate your subscription management and renewal processes
- Metrics & Analytics - pre-built reports, metrics, and dashboards to hone in on the KPIs that matter most
Forecast Effects of VAT on Cash Flow and P&L
Our customers asked us for a way to understand how Value-Added Tax (VAT) would affect the way they manage their cash and the rest of their business – and we’ve delivered.
For most businesses operating outside of the US, VAT is an important piece of their financial forecasting and analysis. Collecting and paying VAT (or not) can drastically affect the cash inflows and outflows of a business.
Customers who handle VAT in the UK, EU, and elsewhere now have an easy way to appropriately factor tax income and expenses into their corporate financial forecasts, and to accurately measure and audit historical VAT actuals against various forecast scenarios.
Now, users of Forecasting & Planning whose companies handle VAT can:
- Forecast VAT payment amounts to vendors and collections amounts from customers, at the transaction level, as a user-determined percentage of expenses or sales.
- Configure org-wide rules for VAT percentage, payment period, and payment due terms, and/or configure these per individual record level.
- Link accounting system VAT GL(s) for TAX to either a combined income and expense GL, or to separate income and expense GLs in Place as per the accounting configuration.
- Enable the display of forecasted and actual VAT amounts on Customer Account and Vendor Account records
- Auto-calculate and display differences between VAT customer payment and vendor payment cash figures as VAT Liability on the Cash Projection page, similar to how net cash movement is currently displayed
Plus, we’ve got additional plans for more VAT capabilities coming in the next few months, such as:
- Including VAT in Place Invoices for customers who use Revenue & Billing
- Automatically calculating VAT on the revenue forecast from Closed-Won Opportunities
- Automatically identifying the applicable VAT percentage based on location
What a release! If you’d like to see more about what else has arrived with this one, you can check out the full release notes here.
We also publish monthly product update highlights in the Product Corner section of our newsletter, so sign up for that here to get more updates in the future.