If you’re a business owner, executive, or accounting professional in the mid-market space, you’ve probably already come across the Acumatica platform a few times in your research for top-of-the-line ERP solutions.
But what is Acumatica, exactly? And why does it keep popping in your research? This guide will break down everything you need to know about the Acumatica solution including, its core features, how you can purchase it, its unique pricing model, and much more.
So What Is Acumatica Cloud ERP?
At a high level, Acumatica is a cloud-based, industry-leading ERP solution aimed at mid-market brands. However, Acumatica ERP is so jam-packed with features and functionality, a better way to describe it would be an all-in-one cloud-based business management solution that will equip your team to meet all the challenges of the modern business.
To equip a business with all the tools it needs, Acumatica provides a full suite of integrated business management applications, including Financials, Distribution, Manufacturing, Project Accounting, Field Service, Retail-Commerce, Construction, and even CRM.
That is quite a bit of functionality to unpack, so in the next few sections, we’ll break down each of Acumatica’s key features and benefits.
I also recommend checking out this data sheet to get a visual understanding of the functionality the Acumatica system offers, how it is connected, and the foundation the functionality is built on top of.
Acumatica Financial Management Module
Considering Acumatica is an ERP platform, I think it’s important we outline the financial management functionality it provides for its users first and foremost. And there is quite a bit to talk about!
The Acumatica Cloud ERP Financial Management Module offers the following functionality and more:
- General Ledger
- Accounts Receivable
- Accounts Payable
- Cash Management
- Currency Management
- Tax Management
- Deferred Revenue Accounting
- Intercompany Accounting and Intercompany Reconciliation
- Recurring Revenue Management
- Fixed Assets
- Mobile ERP Applications
- Payroll Management
- Bank Feeds
- Time Management
- Advanced Expense Management
The tools above provide any business with the functionality they need to track daily financial operations, produce accurate, insightful, and compliant financial statements, efficiently close their books, manage multiple entities, and do it all through the lens of a personalized dashboard from a single sign on, on a mobile platform.
If you want to see the financial management tools in action, take a look at this brief demo video.
As mentioned earlier, in addition to a stellar set of Financial Management tools, Acumatica brings a lot more to the table. In order to provide business tools for a wide array of industries as well as manage the costs for individual companies, Acumatica organizes its functionality into “Applications,” “Modules,” and “Editions” so businesses can pick, choose, and pay for only the tools they need.
Editions can be thought of as groups of modules and applications that Acumatica has bundled together for specific industries.
Acumatica’s General Edition brings together the core business tools that allow any business to maintain company-wide financial visibility, monitor and manage costs, and improve efficiency and customer service.
The Distribution Edition is tailored to businesses that rely on logistics and effective supply chain management to stay in business. The Distribution Edition contains the Inventory Management, Sales Order Management, PO Management, WMS, Advanced Financials applications, and more!
With the Distribution Edition, businesses can manage inventory in real-time, streamline order times, get a clear view of their profitability by warehouse, product line, and location, automate cross-company transactions, and minimize costs by optimizing their purchasing processes.
The Manufacturing Edition is a complete multi-site, cloud-based manufacturing control and planning system. It contains the BOM and Routing, Production Management, Advanced Planning and Scheduling, MRP, Estimating, Product configurator applications, and much more.
The feature-rich Manufacturing Edition allows you to gain complete control over your engineering process, track materials and labor costs, and use the latest tools to forecast demand and calculate capacity restraints. In one solution, Acumatica gives you visibility and control over all your manufacturing processes.
Acumatica’s Construction Edition provides a complete, cloud-based solution for companies that need financial and project management tools. It includes functionality for General Contracting, Home Builders, Land Developers, and Subcontractors.
Acumatica’s Construction Edition allows construction companies to manage projects, budgets, documents, and reports as well as take advantage of pre-built connectors to critical industry-niche applications such as Procore, Proest, CFMA Benchmark, DocuSign, and more.
Acumatica’s Retail-Commerce Edition is designed to allow its users to maintain a consistent customer experience across all of its sales channels by tightly integrating its CRM and financial functionality with popular eCommerce and fulfillment platforms. The platform includes Inventory Management, Advanced Financials, Order Management, POS software, and Shopify and BigCommerce native connectors.
Through Acumatica’s Retail-Commerce Edition, users can centralize visibility for all of your sales channels, automate key fulfillment processes, optimize inventory levels, streamline customer services, and much more.
Notable Acumatica Features
As mentioned earlier, Acumatica ERP is a cloud-based platform. Meaning, you can access critical financial and operations data from anywhere with a wifi connection.
Acumatica is packed with opportunities to automate tedious yet critical business processes. Through workflow tools and integration capabilities, processes like procure-to-pay, order-to-cash, adjustments, deferred revenue, billing, and many others can be partially or fully automated to improve overall efficiency and reduce errors.
Acumatica comes with native connectors and a robust and secure API, allowing you to easily integrate with the other critical applications you depend on.
Even though Acumatica is absolutely packed with features and functionality, it still allows you to go behind the curtain and customize the platform even more to fill the most nuanced functional gaps.
One of the ways Acumatica sets its self apart from the competition is through its flexible hosting options. With Acumatica, you can choose to host the application through the cloud vendor of your choice, through their cloud partner, or even choose to host it locally.
Another way Acumatica distinguishes itself is by allowing unlimited users. With other platforms, if you want to add more users, you may end up having to pay up. With Acumatica, you can have as many users as you want on even their most basic of plans.
So how much do all these great features and functionality costs? Well, depending on the needs of your business, the price tag will vary, so we can’t provide specific details on what Acumatica could cost you. However, we can break down Acumatica’s pricing model to give you an idea of what to expect when you do start to explore the product in greater depth.
One of the best features of the Acumatica platform is its unique pricing model. Acumatica has done a fantastic job to make sure their customers are only paying for what they need and bring new meaning to the phrase “scales with their customers.”
Factors that go into your Acumatica pricing:
Functionality and features you choose: Pay only for the functionality you need.
The type of hosting plan you choose: Self-Hosting or SaaS Model.
Consumption: Data storage and transaction volume.
Factors that DO NOT go into your Acumatica pricing:
Users: Never pay to add more users to your Acumatica system.
Your Business Size: Never pay more because you added a few more employees to the mix.
Extra Features: Never pay for functionality you don’t need.
Through a consumption and feature-based pricing model, Acumatica only charges you for what you need and scales with you in a smarter and more efficient manner.
How to Purchase Acumatica?
Another way Acumatica is unique is the way that it is sold. Acumatica is sold entirely through Value-Added-Resellers or VAR partners. These VAR partners are separate entities from Acumatica but still have a close relationship.
This is a fantastic way to market the Acumatica platform because of how complex it is. These VAR’s are able to specialize in how to implement all the features and functionality Acumatica offers, while Acumatica is able to focus on creating great features and functionality. Other platforms that have tried to do both usually end up coming up short with features or the implementation process, or even both.
If you’re interested in purchasing the Acumatica platform or learning more about what it can do for your business, bēacn is a certified Acumatica vendor and would be glad to help you on your journey with The Cloud ERP. To learn more about how we can help, Click HERE.
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