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Acumatica 2022 Roundup: 9 Best New Project Accounting & Construction Tools

Acumatica 2022 Roundup: 9 Best New Project Accounting & Construction Tools

Acumatica, the cloud ERP solution helps to keep projects on track and drive business growth.  Not only is Acumatica a powerful business platform but they are committed to consistent user enhancements and improvements with each version. The two releases in 2022 did not disappoint. We’ve gathered our favorites all in one place below.

“Acumatica Construction Edition had everything we were looking for. We are different from a regular construction contractor and liked that we could add our own specialty fields and customize it to the way we do business.”

Sean Barnett, Chief Financial Officer, Spohn Associates

Acumatica 2022 R1

Support of Multiple Base Currencies in Projects – Acumatica’s powerful multiple base currencies feature is now compatible with projects.  Businesses with different base currencies can be configured withing the same tenant and the system verifies that the base currency specified in the project documents corresponds to the base currency of the branch.

Multiple Currencies

Enhancements in Tracking Changes to Commitments – now users can track changes to project commitments that have been created based on purchase orders for the project drop-ship orders.

Commitments

Project Quote Improvements – enhancements have been made to the quoting process making it faster and easier for users to create project quotes for multiple customers related to the same opportunity.  You can now change the business account, location, and contact in any project quote in draft status.

Project Quotes

Additionally, you can link the project quotes to the same opportunity as shown here.

Link Project Quotes

Progress Billing Based on Quantity – Acumatica added in some needed billing flexibility for projects. In Acumatica 2022 R1, invoices can now be prepared based on pending quantities from budget lines rather than only the billed amount.

Progress Billing by Quantity

Project-Specific Taxes – calculating taxes for project sites just became a lot easier. Many times, the tax zone of the vendor or customer differs from the project site location. Now, Acumatica can be configured to use project-specific tax zones for calculating taxes and defining the ship-to addresses for projects.

Project Taxes

Acumatica 2022 R2

Tracking Project Progress by Unit – Acumatica 2022 R2 now includes a new form, Progress Worksheet, for employees on a site to capture project activities by units and track the installation or project progress.  Additionally, if specified, users can add cost budget lines. This information satisfies needed quantity billing and carries over into recalculations of the project budgets and shows on the daily field reports.

Tracking by Unit

Enhancements in Change Management – Acumatica has simplified the workflow when change requests are rejected or need to be revised and resubmitted by adding the ability to cancel a change order but keeping the full history.  For example, if we did not get paid for something, we can go in and cancel the change order and any change requests tide to it will get updated and removed from that change order when we release it. We keep the history of the change request but can now revise and resubmit the change order and can always go back and look at the full audit trail of a change order.

Change Management

Mobile App Improvements – much needed project features are now accessible via the mobile app giving project managers and field workers the information and flexibility they need.  Now included, users can view, create, and update drawing logs and submittals on their mobile device. Additionally, in a managed release version, you can also annotate blueprints.

New Mobile

comaIntegrations for Construction Financial Management Association – Acumatica 2022 R2 now includes automation for submitting information to the CFMA bench marker.  Not only can you easily submit data, but Acumatica has a pre-built dashboard with the results of the annual surveys so you can compare how you are doing to your peers.

CFMA Reports

If you’re a construction or project-related business and need a full-feature ERP solution, or you’re thinking about upgrading your Acumatica ERP solution, now is the time.  Talk to our experts about your options. Let’s grow your business!

How to Find the Right ERP Solution for Your Construction Business

How to Find the Right ERP Solution for Your Construction Business

Selecting a Construction ERP solution to run your business is not a quick decision.  The platform you choose will power your business for years to come. Many ERP solutions offer the same or similar accounting type features, but it’s the other features you need to look at closely. For example, are project accounting features fully integrated into the accounting area?  It can be confusing to sort out what’s important to your construction business and what’s not. 

Comparing features and benefits is one thing to consider, but also aligning your growth strategies for the future.  Many ERP publishers offer construction systems, and you might even find smaller, specialized vendors focus their systems on niche industries and respective functionalities.  When you’re looking at options, don’t limit yourself to the specialized systems.  General ERP systems, like Acumatica Construction Edition, provide full cross-functional processes that integrate financials seamlessly with project management, billing, job costing and more.   

With Acumatica, I’m giving employees an ultra-effective tool they need to do their jobs correctly and allowing them to do things easier.  I’m handing them a smartphone versus a rotary phone.  They are more well-equipped to do their jobs, which produces good outcomes for customers and helps us build the business. ~Matthew Shamp, Executive Director, Carlson-LaVine, Inc.

Let’s look at some of the top ERP features construction firms need. Download this checklist to make sure you’ve compared specific features and benefits across your critical categories.

Top Construction ERP Features You Need 

Having all these pieces and parts of a business together in one, single-source of truth system gives you a complete view of your business.  You eliminate data silos and disparate systems and start a culture of transparency. Team members have visibility into the actions of everyone that touches the customer, at any point in their journey.  

Here are the top features to look for: 

  • constructionCAD interface 
  • Accounting 
  • Service fleet asset management 
  • Financial management 
  • Payroll 
  • Management of contractors 
  • Sub-contractor management 
  • Logistics and transport 
  • Scheduling 
  • Complex workforce management 
  • Inventory 
  • Workflow processes 

Next, you need to think beyond specific functionality.  For example, are there features and benefits beyond construction?  Does the system include things to make your office staff as well as job site staff more productive? How about technology?  Does the ERP solution use modern technology and have high ratings for usability, customizability, and maintainability?  Is it a true cloud-based solution, giving your staff, contractors, and vendors access no matter when, where, or which device?   

How much are you going to pay for everything you need?  Will you have to purchase third-party add-on products to get the functionality you need?  How long will you be able to use this solution and/or will you outgrow it quickly?  What about the licensing and hosting fees? Do you need additional hardware and IT staff? All these questions, and more, come into play when comparing and choosing a new ERP solution for your construction business.  Talk to a partner about your options; technology is changing at a rapid pace.  

With more than 500 successful system implementations and dozens of clients working with us for more than two decades, we’re proud to be one of the most trusted names in construction business technology. Give us a call at (833) 432-7278 and let’s talk construction management ERP. 

 

Successful Construction Businesses Use Cloud Software

Successful Construction Businesses Use Cloud Software

The landscape for construction businesses has drastically changed over the past couple years.  It has become increasingly competitive with rising costs, labor shortages, stricter regulations, and the need for innovative ideas. Construction firms can no longer stay competitive by relying on paper-based processes, manual workflows, and an endless barrage of emails.

Smart, forward-thinking firms are moving their businesses to the cloud. With cloud-based solutions, they’re finding the powerful communication tools and automated workflows they need to maximize the profitability of every project. No matter your size or space in the industry, you need a system to help you win projects, control costs, and increase your profit margins.   

 Many firms are choosing a new ERP system in the cloud.  These systems easily handle GAAP-based accounting, field service and asset management, job costing, and project management.  Most importantly, cloud ERP solutions, like the Acumatica, Construction Edition, give you modern tools like mobile access to give you a competitive advantage at a price point you’ll love. 

PM Workflow

 

5 Cloud ERP Benefits for Your Construction Business 

Learn more about what features you need in an ERP solution. Download our free eBook “5 Undeniable Benefits of Cloud Construction Management Software

  1. Real-time project tracking
    Acumatica gives you an all-in-one system to handle everything from accounting, to payroll, to inventory and project management.  Connecting accounting and project management teams in the cloud gives you huge benefits. 
  2. Eliminate delays, head off issues
    Immediately accessible data helps eliminate costly delays.  All team members, whether in the office or in the field, can access the same information and provide updates, so that issues can be addressed immediately before causing costly delays. Imagine what your business can do with a “single-source of truth”. 
  3. EngineerAutomation to increase efficiency and collaboration
    With the use of workflows, you can replace multiple steps and duplicate data entry ensuring action items will be addressed quickly and that your project data remains current.  With everyone using the same system, there’s no room for errors. 
  4. Better & easier communication
    Reduce emails and wasted time answering the same questions over and over. With a smart, cloud ERP solution like Acumatica, you gain project control and eliminate downtime.  Learn how you can have a system that acts as your communication vehicle, with everything for everyone in one, central location. Even create a Wiki for “FAQs from the field”! 
  5. Anywhere, anytime, from any device accessibility
    Get the same, current, accurate information whether you are in the office, at home, or in the field. SPend less time chasing down information and more time keeping your projects moving forward. 

“I am really glad we made the decision to go to Acumatica’s cloud-based construction and accounting software because our teams are doing purchase orders, change orders, and everything remotely. Project Managers can get into the system to see what is going on with their projects. Cloud software is the way to go because it is so easy. You just log in and it’s nothing different than if you were just sitting in your office.” 

John Dawne Meijer, Controller, Pin Oak Corpus Christi 

Why Choose Acumatica Construction Edition 

Acumatica cloud construction and accounting software empowers contractors to keep projects running smoothly and profitably by helping them connect their teams, manage cash more carefully, and keep their customers and employees happy. 

It is a complete, native, and cloud-based construction and accounting software solution, including powerful financials, job cost accounting, project management, payroll, inventory, order management, service management, CRM, and mobile tools for your business. 

Built on the world’s best cloud and mobile technology with a unique all-inclusive user licensing model, it enables a complete, real-time view of your business anytime, anywhere. You’ll increase collaboration, streamline time- intensive processes, and increase project visibility and profitability. 

Don’t get left behind! For construction businesses that use the latest technology, communication has never been easier. Just as your field teams need the right tools to complete their construction projects, you need the right software for managing your projects effectively.  

Download our free eBook “5 Undeniable Benefits of Cloud Construction Management Software

Our team at Galeforce Consulting Partners will help you create the perfect process for your people and support it with modern tech and toolsets.  Contact us today at 1-833-432-7278 and let’s talk construction. 

 

Powerful Construction & Project Management in a Single ERP System

Powerful Construction & Project Management in a Single ERP System

Construction businesses everywhere struggle with cost control, disconnected billing systems, inefficient workflows, poor compliance management, reporting visibility, and more.  A connected, easy-to-use ERP solution can help you manage your resources, tools, and equipment seamlessly, all in one place. Learn more about the common issues our clients come to us with, and how we help solve them.

Common Construction Industry Problems

Managing a construction business is one of the most complex businesses and requires a lot of coordination. Between teams, vendors, and customers, time sensitive tasks and delays can wreak havoc in your project plan.

A well-designed construction and project-based ERP solution can help you to optimize plans for raw materials, efficient use of labor, architectural designs, project schedules and more. Our customers love the way we help them:

  • Eliminate disruptions and cost escalations.
  • Manage projects end-to-end in one system, including:
  • Contracts
  • Commitment
  • Subcontracts
  • Purchase orders
  • Change orders
  • Retainage
  • Service management
  • Field workers

Reporting is something we hear about from all our construction industry customers. Inaccurate reporting and lack of real-time data have been the major reasons for delays in construction projects. Without this critical information, construction businesses are unable to determine pre-calculated estimates for accurate use of raw materials, minimize or eliminate production issues, shorten inventory, and more. Accurate reporting improves profitability and productivity across the board.

Communication between office and field teams can make or break your business.  Many construction firms report having organizational silos, meaning information doesn’t flow easily between departments.  Without this real-time communication, controlling costs, change orders, expenses, etc. can easily get out of control.

Additionally, construction firms typically use six to 10 software applications in tandem with their main accounting system. If these applications are legacy systems, they probably aren’t very well integrated—if they’re integrated at all. As a result, the entire staff will have to jump between screens just to perform routine tasks.

Construction Focused Solutions

Construction Circle

Download the Acumatica Construction Brochure and learn how to connect field, office, and remote workers in real-time.

Take a look at how easy it can be to bring your business real-time, mobile functionality. The ability to share information easily across departments is crucial for your business.  With a Construction-focused ERP, you can connect your accounting system to all of your back-end  processes.  Easily gather information in the field and share it live with everyone who needs the data.  You can even take pictures in the field, update inventories on the spot, approve change orders and submit expenses all while out on a job site. This allows the back office teams to generate accurate and real-time reports, calculate materials and labor costs and generate bill of materials, track project metrics from start to finish while maintaining document control for change orders.

An all-in-one ERP platform connects every part of your business—from budgeting to project management, purchasing to inventory, and field service to customer management. Automate change order and project issues and communicate with field staff, subcontractors, and vendors in real-time. Gain company-wide visibility of costs, budgets, projects, commitments, schedules, and contracts— allowing for tighter project controls and saving time and money. Modernize construction workflows with real-time task views, CFMA benchmarking, AIA reporting and billing, compliance management, daily field reports, and certified payroll.

Now is the time to discover what a connected cloud ERP solution can do for you and how streamlining the exchange of information in your business can help you to succeed.

GaleForce Consulting Partners

Ready to learn how GaleForce Partners can help take your construction company to the next level?  We have partnered with construction firms of all sizes and can provide the critical solutions to drive growth and future-proof your operations.

Find out more on our construction services webpage and then give us a call at 833-432-7278.

 

10 Reasons to Upgrade to Modern Construction Software vs. Staying on Your Legacy System

10 Reasons to Upgrade to Modern Construction Software vs. Staying on Your Legacy System

Your legacy software has gotten you this far. But if your company is ready for a new level of profitable growth, it’s time to transition to a modern construction cloud software solution that can support you all the way. Acumatica Construction Edition is full-featured construction accounting software that helps you connect your field and office teams, improve margins and streamline your most time-intensive processes.

“We had been using a legacy construction accounting software package when we found Acumatica Construction Edition, and it is a perfect fit.”

Ron Fairchild, Chief Financial Officer, Texas Scenic Co.

Here are 10 ways in which Acumatica Construction Edition—a cloud-based solution— delivers greater value than the typical legacy system.

  1. Intuitive: It’s easy to learn and use.  Connect everyone across your organization with the same information, which encourages collaboration and improves accuracy.
  2. Universal Accessibility: Acumatica let’s you access the system from any device, anytime, anywhere.  Supports employees who are working in the field or at a customer site.
  3. Customer and Service Management: Displays real-time data on all customer activities, including customer contacts, quotes, orders, invoices, payments, support cases, and service calls.
  4. Role-Based Dashboard: Delivers real-time visibility into the state of your business by construction role to the right stakeholders at the right time. A self-service dashboard, with drill-down into details, provides comprehensive insights into business performance.
  5. Adaptable Workflows: Automates, controls, and streamlines accounting and back-office construction processes to reduce the burden for accounting, operations, and front-office staff throughout your organization.
  6. Unlimited Users: Let’s employees access the information they need without requiring additional user licenses.
  7. Extensive Integrations: Integrates with leading applications such as Procore, ProEst, and DocuSign.
  8. Low Total Cost of Ownership (TCO): Reduces the total cost of ownership over the foreseeable lifetime of the product (at least 3-5 years), including licensing.
  9. Software Enhancements: Enhances the current software based on customer needs, and develops and adopts new technologies to further streamline customer operations.
  10. Free Training: Experience free online training and built-in User Guide for self-paced learning.

Acumatica LogoWhy Acumatica?

Acumatica puts everything at your fingertips, saving you time and effort at every turn. Whether you are a general contractor, subcontractor, specialty contractor, homebuilder, or land developer – you can rely on Acumatica’s true cloud construction software to handle accounting, project management, payroll, inventory, service management, CRM and mobile – in one cohesive solution.

Accounting: Complete Control, Maximize Profitability

Maximize project profitability, lower risk and easily manage financials. Acumatica Construction Edition allows you to accurately forecast and manage job costs, profits, cash and taxes.

Project Management: Focus on the Project, Not the Paperwork

Stay on top of every project and budget with real-time information at your fingertips. With Acumatica Construction Edition you’ll make decisions more effectively and easily manage and track all daily activities, issues, changes, project documents, and job costs from one central area.

Acumatica Screens

Payroll: Easy-To-Use and Reliable

Simplify payroll setup, processing, and reporting by managing your payroll in-house. Easily capture time and track labor rates for certified and union payroll projects and more. Give employees access to enter time from anywhere eliminating late timecards, costly mistakes, and duplicate data entry.

Inventory: Inventory Management Made Simple

Control system-wide inventory to manage your distribution process efficiently and without losing track of costs. Easily manage inventory delivered to your project with the flexibility of using project sites as distribution hubs.

Service Management: Increase Field Service Productivity

Streamline processes, reduce response times and costs for your field service team resulting in increased customer satisfaction and revenue. Acumatica’s Service Management provides a complete set of functionalities for your field service operations.

CRM: Communicate with Customers, Grow Your Business

Customer Relationship Management was built into Acumatica from the very beginning. From marketing, quoting, and sales to delivery and post-sales support, customer information is always up-to-date and accurate.

Mobile: Connect Your People and Projects

Your employees will thank you for having access from a smart phone or tablet to complete their tasks. Productivity will increase making your construction projects run even more smoothly.

True Cloud Construction and Accounting Software

With today’s complex construction business needs, it’s essential to have a modern software solution that you can always rely on. True cloud construction software saves you time and money while maximizing profits.  With a modern cloud system, you don’t have to pay upfront for hardware and maintenance and you can easily add computing resources on demand.  Additionally, you get state-of-the-art security for your data with cloud software.  Full-time, highly experienced security professionals are guarding your business data.  Data is backed up regularly, on a series of distributed servers, so that it will still be available in case of a disaster.

GFC Paint BrushReady to Team Up with Galeforce Consulting Partners?

Ready to learn how Galeforce Partners can help take your construction company to the next level?  We have partnered with construction firms of all sizes and can provide the critical solutions to drive growth and future-proof your operations. Contact us today, and learn how we can partner with you.

5 Signs You Need a System to Connect Your Construction Business

5 Signs You Need a System to Connect Your Construction Business

Eliminate Silos, Improve Collaboration, and Increase Project Success with Acumatica, the Cloud ERP

Many construction businesses don’t have the right tools in place for good collaboration and sharing information between departments.  This results in poor project outcomes, going over budgets, not being able to manage change, and not staying within timeframes.  These firms are working with disparate systems, causing organizational silos and departments not knowing how it impacts the business.

Does Your Business Have Silos?  5 Things to Look for…

  1. Information doesn’t flow smoothly across your organization—and your entire business suffers as a result.
  2. It’s difficult to determine which projects are profitable.
  3. You worry about lack of visibility on labor costs—one of the most expensive variable components of a project.
  4. You have numerous external systems that don’t integrate, resulting in manual data entry and the errors that go with it.
  5. You’re running older technology that limits transparency, access, and process improvement.

In a recent study, construction firms reported they use, on average, six to ten software applications along with their main accounting system.  Most of which have little integration with each other.

The Dangers of Silos in Your Business

Many businesses suffer from disconnected systems due to their legacy software.  For example, departments might be using different spreadsheets, or stand-alone applications to complete their tasks.  Does your business use different software for estimating, accounting, project management, bid management, and project scheduling?

What about reporting.  Are you getting instant reports with ALL the data?  If you have to pull reports from multiple systems and then collate them together, you’re not only wasting time but also leaving your business prone to errors.

Disconnected ERP ComponentsBy having all these different systems, it causes silos of information.   These silos become a problem because teams develop tunnel vision and only focus on their own functional areas.  They lose sight of the big picture and never think about how their work affects other people in other departments.  With this sort of communication breakdown, dysfunction is soon to follow on multiple levels.

Additionally, for construction firms, having information in multiple disconnected systems causes all sorts of problems when we talk about a smooth customer experience.

There are few things more frustrating to a busy construction professional than using software that doesn’t provide a single customer view and real- time insights. Unfortunately, most customer experience teams have no way to arrive at a single customer view—and without this, they can’t fully understand each customer and provide them with a personalized experience.

Move to the Connected Cloud

Welcome to modern ERP.  Cloud ERP solutions give you a complete end-to-end solution.  You gain a single source of data for your business.  Everyone from field techs to accounting has access to real-time information they need, including customer data.

With a connected cloud solution, you can:Connected ERP Components

  • Connect your accounting with your construction business.
  • Generate reports showing the percentage completed for projects.
  • Calculate material and labor costs and generate a bill of materials.
  • Track projects from start to finish while maintaining document control for change orders and other documents.
  • Track inventory and help with your service business in scheduling, dispatching, and managing work orders.

Imagine your construction business having exchange of information between office employees and people out on job sites.  When remote employees uses the mobile app and makes changes to RFIs, timecards, or project issues, the system automatically updates and syncs back to the system.  Your entire workforce has access to the information the moment it changes.  You can rest assured that important issues can be addressed immediately, before they cause costly delays.

Learn more about Acumatica and how this right-sized, right-priced, full featured ERP solution can help your construction business make money and keep customers happy.

Download a short 3-page article on why you need a connected system for your construction business.