Spotlight on Acumatica Cloud ERP: Controlling Your Company’s Financials
Today we’re focusing on easing the pain points for those feeling the heat of financial-sector inefficiencies, incongruities, and outright mishaps beating them down. CFOs, controllers, and financers: today we’re talking to you.
Our top pick for a solution: Acumatica Cloud ERP.
From your daily financial data, to quarterly and annual reports, Acumatica Cloud ERP enables you to track, analyze, budget, and plan it all. Want customer-facing portals, options for preset and preloaded data, from any screen and on any device? You’ve got it. How about analyzing aggregate sales and purchase history to create a complete – and actionable – picture of your customers? Easy. That’s because Acumatica Cloud seamlessly manages accounting, inventory, CRM, and more all in one.
Revolutionizing the ERP+CRM and the Audit Trail
Referential integrity and seamless audit trail are considered foundational for any CFO or Controller in today’s enterprise operations. The Financial Analysis and drill through tools are a daily necessity to support your internal reporting and audit needs, as well as external requests for audit trails. Feature rich ERP solutions like Acumatica provide these tools as part of the core solution. Just a few years ago, you’d be hard-pressed to find a company spending more than a third of their finance department’s time and resources analyzing data. It just wasn’t feasible – reconciling data trails wasn’t just time consuming, the very fact of doing it with manpower was error inducing.
Acumatica’s automated process are a BI systems game-changer. Because of the fluent module-to-module crosstalk inherent to its design, there’s nothing to reconcile. The code never sleeps. It’s got your back when it comes to data-crunching – so you can get back to accounting.
And with Acumatica, you’ve got direct access to those audit trails, all the aggregate data and data results, anywhere, any time. This is reporting that CFO’s can trust when it comes to end of the month confirmations. That won’t just feel good. Errorless accounting makes you look good, too.
Intelligent (and Intentional) Systems Structure
What you’re getting with Acumatica Cloud ERP is a full suite of financial modules and ledgers – each built in to the core foundation of the system itself, including:
- Accounts Payable (AP)
- Accounts Receivable (AR)
- Cash Management
- Financial Statements
- and CRM
The way that Acumatica helps your finance department take full management control of these components is through the way its Sales Order Process, Inventory Control Process, etc. interact with its AP and AR accordingly.
As opposed to QuickBooks or other similar accounting packages – which typically require teams to acquire inventory control systems or sales modules and then juggle the arduous tasks of fitting them into or tacking them onto the base ERP system and keep it in-sync – Acumatica is every one of these facets pre-built into itself. No aftermarket modifications needed.
When it comes to order types, go as complex or as streamlined as suits your business’ needs. Set unique posting classes and rules established directly inside Acumatica so that your end-users and the sub-modules (sales orders, inventory) aren’t required to serve as “Jr. Accountants.”
The direct benefit? The freedom to take your finance team out of having to touch every facet of the initial configuration. If you set up a new inventory item or create a new customer record or add a new vendor to Accounts Payable – from the get-go you’re able to apply the correct class or maintenance structure that your finance team would have first established, and you would not need to adjust it. Put simply, these features are the welcome logical conclusion of “Set it, and forget it.”
In other ERPs, Finance is either the one to set up new records – or tediously intercept and vett the new records. What’s more: just within an implementation life-cycle, this claim is provable to finance teams and CFOs that Acumatica is able to execute these processes in a way that you can trust, and that means no headaches or buyer’s remorse down the line. It’s there, it’s happening in real time during implementation, and that’s peace of mind you can see and believe.
Trust like that is indispensable.
See it for yourself, request a demo by emailing AcumaticaQuestions@kensium.com:
X-Ray Accounting, Nowhere to Hide
This is where Acumatica gets, well, super-powerful. If you’re on a sales order that’s completely shipped, invoiced, and posted to the ledger – you’re able to click on the shipment and drill into the invoice and see every component, and even dig into the ledgers and see how it posted to the GL. You have direct access to it all.
The result: streamlines in month-end reconciliations and your month-end close that can finally be as detailed as you’ve needed them to confirm your numbers with a clean conscience. Get it all right the first time. Acumatica’s interconnectedness means drill-downs with the power to get to the true and reportable core of your finances in one go.
Wide-Open Potential with an Open API
The open API structure of Acumatica’s codebase sets it totally apart from other systems. This gives finance teams quicker and far more distinct connections to anything from third-party products to importing and exporting data. With some competing solutions you don’t even own your data – and that makes it painful or complicated to get to. Acumatica has recognized the hypocrisy here (“You create the data, it’s your data, but it’s our data first.”), and wants to change what’s becoming a dangerous industry norm. Again, for them it’s all about trust, mutual respect, and creating a product that works for you. No-brainer, right?
Multiple Entity Management
The ability to integrate financials across multiple business entities – including automated reporting, consolidation, payments, and cash management – is crucial. And if you need balance sheets kept independent and your tax reporting broken out, there are features built-in to Acumatica to manage just that.
With intercompany accounting and reconciliation out-of-the-box, you’re managing every aspect of your business – even if you’re looking at a matrix organization with multiple distinct entities, branches, and warehouses under one umbrella or roof. Acumatica is scalable to the nth degree, so even if you’re not pulling at the belt now…there’s always room to grow in this commercial economy. Invest in an ERP that doesn’t cut you off before you’re finished.
Project Accounting Made Effective and Effortless
Project Accounting is where importing and exporting data and complex allocation structures can end up throwing a lot of non-centralized ERPs.
Budgets, inventory, change orders: check.
Timesheets, billing, profitability: check twice.
Throw in reporting for individual business initiatives and company-wide financial reports, cover all these bases, and your accounting team’s set for success.
If your accounting team is having to micromanage, double- or even triple-enter the data, cross-calculate mountains of spreadsheets and spend valuable resources making sure it all ties-out nice in the end – then, well, they may still be set for success, but your business isn’t. We can’t stress this enough: stop tending the trees – start commanding the forest.
Acumatica eases these pains three main ways.
- Centralization means you’re able to apply inventory costs and write purchase orders at the same time. It’s all in one place, its all simultaneous, instantaneous, and never extraneous.
- Complex allocation capabilities – like the power to allocate fringe, overhead and G&A all in the cloud, letting you forecast right down to the account level. And because the code is built from the ground-up with automation in mind, you’re able to run massive queries in a fraction of the time. This is big data, fast.
- Client-configurable portals and the most in-depth collection of online resources available of any Cloud ERP in its class.
Build Trust, Scale on Your Terms, Enable Excellence
Work to streamline, maximize efficiency, and do it all with as few errors as possible. Discover how refreshing trust in a CRM can be. Acumatica’s built-in automation features and workflow organizers do exactly that.
We’ve already touched on the fact that Acumatica is built on an underlying branch infrastructure. This means a philosophy of scalability is in its DNA. You could have one warehouse and one storefront today – and acquire more sales opportunities or sales storefronts the very next month, and Acumatica will allow you to simply layer-in branches, build out, and scale with you.
Accumatica Cloud ERP is also integrated on a server-sized licensing basis – not how many people you employ. That’s gigantic news for companies currently becoming, or looking to become, well, gigantic. With other ERPs and SSL agreements, adding even just one more licensee can cost around $45,000. Minimum. Not only are other ERP models needlessly expensive, the models used by other ERPs explicitly discourage your company from growing.
Get total access to the modules you need. Hire the whole town (who’ll have as much or as little access as they need).
…And No Borders for Your Biz Either
Acumatica lets you reach markets both domestically and abroad like never before. Actuate cloud-based multi-currency, multi-language, and multi-company capabilities – all paired with localized functionality that makes everywhere feel like home.
Legacy Data Migration
Migrate historical data from both Accounts Payable and Accounts Receivable from a legacy system to Acumatica ERP smoothly and efficiently. This means getting open balances, original amounts, and dates exactly where they need to be – without ever affecting your general ledger.
Acumatica Addresses Your Platform’s Core Problems
With other ERPs, if you want CRM implementation, you’re going to have to either fork over the cash – or be stuck with a system that looks like a summer-camp art project, glued together and lacking any sort of useful intention. There’s no promise that what’s holding together now will be up to the tasks at hand months down the line – leaky holes have a way of becoming burst pipes. When our developers show up on the scene, the actual structure of a company’s eCommerce operation looks like it was furiously cobbled together, not built.
The Power to Live Your Truth
Acumatica calls the holistic control of your business and your customers – what you really get from all of these modules inter-communicating seamlessly and in real-time – the “single version of the truth.” That’s one of the most critical things about Acumatica Cloud ERP. There’s no back-tracking, there’s no cross-referencing or tedious (read: error-inducing) cross-correction. There’s just one story: your data, your facts, your truth. And in the eCommerce industry, connected back-end truth can be an incredibly empowering thing.
Imagine what you can do with the total picture.
This is how Acumatica Cloud ERP empowers your financial and accounting capacities. When you need an implementation partner that has worked with Acumatica implementations since the day they went to the cloud – give us a call.