As one of the fastest growing and increasingly popular cloud ERP product on the market, Acumatica is gaining a lot of traction as they have features that set them apart from other ERP platforms. So, how do the key components of Acumatica make them different from other products on the market? We will discuss more about the different components of Acumatica and their functionality in this article.
Components of Acumatica
Acumatica has five components that can help with the management aspect of your business. These components are integrated to give you a reliable, accurate view of how your business is performing, and the activities of your business. This way, you can stay up to date to how your business is doing and manage your business more efficiently and effectively.
The financial management component provides a range of functions to help with accounting matters within your business. With this function, you will be able to track day to day financial operations and even generate annual or quarterly financial statements. This particular function can also help with other tasks, such as budgeting, reporting, data analysis and planning.
Project accounting can help you keep track of the amount of money you spend on different projects, and assist you in budgeting and billing. It can also help to simplify project quotes and control change orders, saving you a lot of time.
If you want to manage your distribution process efficiently and always be aware of the costs incurred in your business the inventory management component can help you do just that. With this component, your profitability and customer service will improve, as you are able to access your inventory, inventory costs and items in transit in real time.
The customer management component helps you to deal with different sales activities centrally. This includes quotes, creating shipments, fulfilling sales orders, applying discounts, tracking prices and checking available items in your inventory. This helps to keep your customer service top notch by reducing the time needed to give your customers an answer.
Lastly, the purchase order management component helps to manage global purchasing process centrally, and automates the entire process. With this function, it will help to ensure that there is a continuous supply of materials, while policy and process controls are enforced. With this function, costs will be reduced and vendor relationships will improve.
Although similar features can be found in competing ERP vendors, Acumatica’s components can be personalized to your business.
Acumatica Offers Industry Specific Editions
Although the core components are more than enough to accomplish the job, what really sets Acumatica apart and makes them superior is that they provide industry specific editions. With the specific needs of the industry in mind, Acumatica’s industry specific editions provide specialized abilities to help fulfill these needs. Acumatica offers different industry specific editions.
Firstly, the manufacturing edition helps to tie together material purchasing, production planning and scheduling of the shop floor, which will greatly benefit multi-plant activities. The distribution edition is perfect for distribution or wholesale companies that require integrated inventory and financials in order to manage logistic activities and their supply chain. The field service edition helps to optimize operations and manage field service appointments. The commerce edition is specially designed for retailers or shop owners that required advanced inventory and financial capabilities, and helps to integrate e-commerce. The construction edition helps to manage finances like job cost accounting, and helps deal with customers, service teams and field teams.
Interested in finding out more about Acumatica and how it can help your business? Feel free to contact Fourlane today. Our friendly staff team will not hesitate to explain how Acumatica can help you manage your business even more efficiently and effectively.