Acumatica Summit 2023 Recap
The Acumatica Summit is an annual conference that brings together customers, partners, developers, and industry experts of Acumatica, a cloud-based ERP software. The summit provides a platform for attendees to learn about the latest product updates, industry trends, and best practices from thought leaders and peers. The event features keynotes, breakout sessions, hands-on training, and networking opportunities. It also showcases the latest technologies and solutions from Acumatica’s ecosystem of partners and developers. Read more about Acumatica’s 2023 R1 Customer-Driven Innovation.
Acumatica Summit 2023 Highlights
We were awarded the Acumatica Construction Partner of the Year for selling the most industry editions while maintaining high customer satisfaction scores. This prestigious award reflects our team’s dedication, knowledge, and expertise in the construction industry. Our efforts to provide innovative solutions that help our customers streamline their operations and stay ahead of the competition have been recognized.
We are also proud to be part of the Acumatica President’s Club for the second year in a row, which honors the 10 most successful Acumatica Gold Certified VAR partners and the most elite ISV and OEM partners. As a Gold Certified Partner, we adhere to strict customer satisfaction standards and provide top-notch customer support and implementation teams. In addition, our experts Kulvir Kaila and Leonardo Justiano were awarded Acumatica Partner MVPs, further highlighting their contributions to the Acumatica community.
Acumatica’s commitment to customer success is reflected in its customer bill of rights, which outlines its promise to deliver exceptional customer service, maintain product excellence, provide a transparent pricing model, and respect its customers’ time and investment.
Acumatica’s Chief Revenue Officer, Sanket Akerkar, emphasizes that the company’s approach to helping customers succeed is a three-part process involving understanding their pain points, identifying their challenges, and providing the technology solutions to overcome these challenges.
Bring joy to work one experience with Inspirus
One of Acumatica’s success stories is with Inspirus, which has provided employee engagement solutions for over 100 years to drive success across its customer base. Using Acumatica’s platform, Inspirus has streamlined its cloud-based ERP cross-operation processes, integrated its financial and operations systems, and provided its customers with a unified and holistic view of their services.
Avante – Customer of the Year
Another customer success story is Avante, which has provided capital equipment and technical support for healthcare providers for over 35 years. Avante faced a significant challenge in integrating its different divisions with its own ERP systems into a unified and efficient entity. With Acumatica’s help, Avante was able to streamline its processes, improve data quality, and achieve a 50% efficiency gain.
“When technology meets human ingenuity, how daunting it can be yet how worth it will be. So act now and make your plan. For us, Acumatica has provided a foundation to help Avante move healthcare forward.”
Khan Tran, Chief Technology Officer, Avante Health Solutions
Acumatica’s 2023 R1 Customer-Driven Innovation
With the release of its 2023 R1 update, the company is introducing several features that focus on the following:
- Empower users with exceptional usability
- Evolve your business with an intelligent platform
- Dominate vertical segments with industry-focused functionality
Empower users with exceptional usability
Doug Johnson, VP of Product Management, emphasizes the importance of eliminating clicks and manual processes to work more efficiently while enabling to correct mistakes easily and providing guides that are a click away.
One of the standout features of the 2023 R1 update is the AP document recognition system, which allows users to attach invoices to emails and have them processed automatically. This intelligent system can figure out which fields belong where, even when different vendors provide different formats. The system can also remember employee changes and automatically apply them to similar-looking documents, automating the process.
The update also introduces new technology, allowing businesses to expand internationally and add employees while adding new business processes. For example, CurranHome, a flooring and home furnishings manufacturer, had most of its business in the US, but its manufacturing was in Europe, and Acumatica was only available in the US. Using Acumatica’s multiple base currencies, they implemented a single tenant with two entities (US and Europe) and shared configurations, customers, vendors, and inventory items across the entire company, improving their reporting capabilities.
Acumatica’s industry-focused functionality allows businesses to dominate vertical segments with editions for the following:
- An added feature at the top of the screen that enhances the platform’s usability. It shows the next available action allowing users to release materials quickly, create labor transactions, and create move transactions without navigating multiple screens.
- The addition of side panels allows users to view and edit the bill of materials before releasing a production order. This helps users identify potential shortages before starting production and adjust as needed.
- Side panels to the MRP display screen to manage supply and demand to ensure the availability of necessary materials to meet customer demand.
- An added dashboard to the Production Manager screen to easily monitor production order progress and identify issues.
- Streamline manufacturing reporting, correct previously entered transactions, and empower employees by entering labor, material, move, and disassembly information directly from Production Order Entry.
- Save time with side-panel access to purchasing, sales, inventory, and manufacturing information from data entry screens (Production Orders, Bills of Materials, Estimating, Sales Quotes, Sales Opportunities, Material Requirements Planning, and Scheduling).
In 2022, Acumatica had its best year ever, with more customers than ever. One of the keys to this success has been empowering employees with the tools they need to succeed. For example, Sean Barnett, CFO of Spohn Associates Inc, has been with Acumatica since 2019 and is a big fan of the side panels feature. This feature keeps important information at his fingertips, bringing everyone together and on the same page.
- Projected costs and WIP reports enhancements. By looking at the results and eliminating unnecessary information, project managers can better measure project performance, budget variances, and project delays. This information can then be taken to the finance group to see what can be billed and what revenue can be recognized. Acumatica makes this process easy by allowing users to see projects, summaries, bills, and approvals all in one place.
- Acumatica added information on the project progress report, allowing users to see how much has been done previously, what’s happening today, and what the impact and progress are. Mobile enhancements also enable users to capture units in the field, giving people in the office real-time decision-making capabilities.
- Gain insights into construction data with on-the-fly report filters and an updated, unified report design for improved readability.
- Save time with simplified joint payee and lien waiver processes, including automated maximum available payment balances and automated compliance document creation.
- Monitor revenues, costs, and profits and track how they impact each project with automated budget quantity calculations.
- Empower remote workers with the Acumatica mobile app, through which they can instantly access drawing logs, submittals, annotations, and progress worksheet activities from daily field reports.
- One of the key features Acumatica added to the software is the ability to process purchases and returns on the same transaction, making it easier for counter sales reps to stay on the screen and complete transactions quickly.
- Acumatica’s matrix items revolutionize the D2C (direct-to-consumer) industry. Companies with a large number of SKUs can easily generate unique part numbers and descriptions for each product variation, allowing for customization and flexibility.
- In addition, unlike templates, matrix items allow for accurate tracking of inventory levels and reporting and analysis of inventory. This has streamlined their inventory management processes and made it easy to push their products into Shopify and view all data in one place.
Retail E-commerce Edition
- Acumatica’s inventory management via Shopify for online and POS sales provides a seamless in-store experience digitally. Sales clerks can be equipped with iPads containing business information allowing customers to easily find products, check inventory levels, and even place orders on the spot.
- Acumatica and Shopify’s integration allows for flexible product structures and easy import of matrix items, which is particularly useful for businesses with many SKUs.
- The platform offers experimental and controlled release features, such as special orders and Microsoft Teams integration, which allow businesses to test and provide feedback before the final release.
- A single screen allows you to save time on counter sales, will-call orders, and in-person returns.
- Expedite and standardize system and data access with 18 pre-defined sales, purchasing, and inventory security roles, such as sales managers, sales clerks, buyers, receivers, shippers, and more.
- Increase the flexibility of your pricing tactics per customer and item variant with simplified matrix item creation, through which you can easily define variant characteristics for each object generated from the template.
- Keep a constant view of inventory levels across your Amazon Merchant-Fulfilled Network (MFN) websites with seamless data flows from Acumatica’s back-end system.
- Increase your B2B sales, keep customers happy using Shopify storefronts using a single corporate account, and sell more profitably with Acumatica.
Acumatica’s commitment to building the future of business with its customers, partners, developers, and employees is a powerful and unique approach to transforming the SME landscape. The 2023 R1 update is an exciting step forward for the platform, focusing on empowering businesses with an intelligent platform that evolves with their needs and achieves their goals.
Contact us today to schedule a free Discovery Call to see how Acumatica’s future-proof cloud construction management solution can make your life easier and help your business grow faster.