The Port of New Orleans
I Port of New Orleans – CPQ & Revenue Recognition for Leasing
The Port of New Orleans is a deep-draft multipurpose port at the center of the world’s busiest port system – Louisiana’s Lower Mississippi River. Port NOLA owns a maritime industrial park with over 1,000 acres of properties that lease under long and short term agreements. The properties are zoned for heavy and light maritime industrial uses including shipbuilding and repair, warehouse and distribution, truck and container depots, basic materials handling, cement handling, steel distribution, refrigerated warehousing, manufacturing, packaging and transloading.
The Port needed a process to quote leases which include term fees and also variable usage fees, such as water usage, or freight volume.
A process to generate periodic lease and usage invoices was required.
The Port was experiencing manual processes that were error prone.
The invoice revenue recognition is spread monthly across the invoice term. Many leases are annual amounts.
The Port required a solution deployed within 90 days
The Port had a constrained budget to complete the project within.
New Orleans, LA
Yardi and several Real Estate Management apps on Appexchange
Salesforce CPQ and FinancialForce Revenue Recognition
Implement Salesforce CPQ for Leasing
Configure a periodic billing process
Configure process to invoice on reported variable usage
Implement FinancialForce Revenue Recognition
Project Go-Live in 85 days
First monthly invoices generated on Day 2 of go-live
Reduced invoice generation from 5 day process to 3 hour process.
Revenue Recognition live concurrent with CPQ
Overall project was under budget, allowing for future support services
Client was very satisfied with project implementation methodology, knowledge and level of service provided.
I Solution Details
Previous technology replaced by Salesforce:
Salesforce products deployed:
Sales Cloud, Salesforce CPQ
Customer Business Model (B2B, B2C, or Both)
Salesforce Product features:
On Platform configuration with FinancialForce Revenue Recognition and Accounting
Solution 'Go Live' date:
April 30, 2018
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