Case Study

The Port of New Orleans

I Port of New Orleans – CPQ & Revenue Recognition for Leasing

Company Overview

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. 

Challenge

  • 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.

Company Overview

Location:

New Orleans, LA

 

Employees:

400

 

Industry:

Local Government

 

Competitor:

Yardi and several Real Estate Management apps on Appexchange

 

Solutions:

Salesforce CPQ and FinancialForce Revenue Recognition

 

Solution

  • Implement Salesforce CPQ for Leasing

  • Configure a periodic billing process

  • Configure process to invoice on reported variable usage

  • Implement FinancialForce Revenue Recognition

Results

  • 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:

Manual Process

Salesforce products deployed:

Sales Cloud, Salesforce CPQ

Customer Business Model (B2B, B2C, or Both)

B2B

Salesforce Product features:

CPQ

Integrations:

On Platform configuration with FinancialForce Revenue Recognition and Accounting

AppExchange Apps/Partners

FinancialForce

Solution 'Go Live' date:

April 30, 2018

Let us help your company succeed with Salesforce

855-352-7887

info@foundry52.com

©2019 by Foundry 52. All Rights Reserved.