NEW YORK & SAN FRANCISCO--(BUSINESS WIRE)--Abacus, the only intelligent expense management solution, announced it has integrated with Salesforce, the world’s #1 CRM company. The integration will provide Abacus customers who also use Salesforce with real-time and accurate insight into important business metrics like campaign ROI and customer acquisition cost, directly from the Abacus platform. By integrating Salesforce data into Abacus, users can now link expenses related to customers and prospects with revenue – for the first time creating a holistic view into relationship profitability. Salesforce Ventures previously invested in Abacus along with existing investors CrunchFund, General Catalyst and others.
“We are excited that Abacus will be leveraging data from Salesforce to help us provide more uniform context to our expenses,” said Matthew Horn, Director of Finance at Yieldbot, an Abacus customer. “By combining our expense and sales data, we can optimize our travel and expense spend, understanding its impact on how we win deals and retain customers. Ultimately, the integration between Abacus and Salesforce will allow us to further analyze our sales opportunities and make more strategic business decisions."
Abacus customers can now sync their Salesforce Account, Opportunity and Campaign data into custom expense fields, allowing employees to tie expenses to clients and prospects. Combining this data with other contextual expense information, customers can create reports within Abacus to analyze spend per client or campaign by category, department, timeframe or any other important business data point. It will also shine additional light on customer acquisition costs and marketing campaign ROI.
“We made an additional investment in Abacus because we understand the importance of empowering companies to leverage their expense data to enhance how platforms like Salesforce are used across companies to make strategic decisions,” said Spencer Lazar, Partner at General Catalyst. “This T&E data source has always existed, but it’s been trapped inside operational cost reporting. We are excited for this investment and the new Salesforce integration because it will give our customers the ability to run in-depth campaign ROI and customer acquisition cost reporting.”
“What makes this integration unique is what we can do with the data once we ingest it,” says Omar Qari, CEO, Abacus. “One of our driving missions is to help finance teams gain a new level of insight into their expenses so that they can make strategic decisions about optimizing their spend.”
There is an additional benefit of the integration to customers who sync Abacus directly to their accounting software. The Salesforce fields synced into Abacus can be mapped and synced directly in a customer’s accounting platform, in both the cash and accrual-method integrations, which allows for a new level of granularity in reporting without needing to recombine data in a spreadsheet.
For more information on this integration, please visit abacus.com/Salesforce.
About Salesforce Ventures
Salesforce Ventures—Salesforce’s
corporate investment group—invests in the next generation of enterprise
technology to help companies connect with their customers in entirely
new ways. Portfolio companies receive funding as well as access to the
world’s largest cloud ecosystem and the guidance of Salesforce’s
innovators and executives. With Salesforce Ventures, portfolio companies
can also leverage Salesforce's expertise in corporate philanthropy by
joining Pledge 1% to make giving back part of their business model.
Salesforce has invested in more than 150 enterprise cloud startups since
2009. For more information, please visit www.salesforce.com/ventures.
About General Catalyst
General Catalyst Partners is a
venture capital firm that makes early-stage and transformational
investments. The firm backs exceptional entrepreneurs who are building
innovative technology companies and market leading businesses, including
Airbnb, BigCommerce, ClassPass, Datalogix, Datto, Demandware, Gusto (fka
ZenPayroll), The Honest Company, HubSpot, KAYAK, Oscar, Snapchat,
Stripe, and Warby Parker. The General Catalyst partnership leverages its
broad experience to help founders build extraordinary companies. General
Catalyst has offices in Cambridge, MA, Palo Alto, CA and New York City.
For more information, visit: www.generalcatalyst.com
or www.twitter.com/gcvp.
About Abacus
Abacus is the only intelligent expense
management solution, using data and behavior analysis to make
recommendations and automate expense creation and approvals. Using
heuristics, expenses are curated to help administrators focus on
anomalies and high priority items. Abacus processes next-day
reimbursements, enforces your expense policy, reconciles corporate
cards, and syncs with your accounting software. Businesses like
Greenhouse, Betterment and Pinterest use Abacus as a smarter way to
manage expenses.