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Benefits and Insights

Why use Acumatica?

Key differentiators & advantages of Acumatica

  • Increased Productivity: Acumatica contains a range of automated capabilities, such as the creation of tax filing reports, calculation of realized gains and losses and tax calculation. By automating these workflows, organizations save employees time and increase productivity. 
  • Centralized Database: Personalized dashboards and real-time visibility into business processes help reduce inconsistencies and communication errors. 
  • Support for Multiple Currencies: This system supports transactions across multiple currencies. This is especially beneficial for companies that do business internationally or that have operations in numerous countries.  
  • Multi-Site Management: Provide users with a broader view of a company’s financial health and status by either segmenting or centralizing accounting among various locations and entities. 
  • Streamlined Compliance: Tax management capabilities help ensure adherence to tax guidelines. Calculating taxes can be a difficult process, so Acumatica aims to reduce the headache by accounting for use, sales, withholding and other types of tax. 

Industry Expertise

Acumatica is a suitable tool for companies in a range of industries. Some of the sectors specifically highlighted on the vendor’s website include service, distribution, manufacturing, retail, technology and construction.

Key Features

  • General Ledger: Track all financial transactions occurring in a business and create financial statements such as the income statement and balance sheet. This feature enables users to structure the general ledger by accounts and subaccounts. Users can segment financial reporting by aspects such as department or product to glean more specialized insights. 
  • Accounts Receivable: Develop and send out invoices for owed payments that have yet to be received and format invoices for printing purposes, PDF or HTML. It also accepts PCI-compliant credit card transactions and can handle refunds, voided transactions and manual charges. The program can connect to bank processing centers through included plug-ins or can be built by the user through Acumatica’s SDK. 
  • Accounts Payable: The Acumatica accounts payable function contains prepayment tools that allow users to manage requests, apply prepayments to invoices as they come in and issue prepayments. The program can calculate use and VAT taxes and create tax filing reports automatically. Payments can also be aligned with cash flows to reduce the likelihood of late charges. 
  • Cash Management: The cash management tool integrates with GL, AR and AP functionality. Update balances and store transactions linked to vendors and customers by inputting them into accounts payable or receivable. The program also transfers funds between accounts and supports multiple currencies.  
  • Currency Management: Calculate realized gains and losses automatically from transactions made with foreign currency, adjust unrealized gains and losses, and prepare auto-reversing entries for open documents that are recorded in a foreign currency. The program adheres to FASB-52 standards for currency translation. 
  • Tax Management:  The program supports use, sales, withholding, VAT and reverse VAT taxes. Calculate taxes automatically based on the assigned tax zone or tax category or make manual adjustments directly within the system. Additionally, taxes are posted to a tax liability account in the general ledger. 
  • Deferred Revenue Accounting: Acumatica leverages user-established schedules to calculate deferred revenue automatically. Develop schedules using templates or completely from scratch. Post deferred revenue automatically to various financial statements.  

Acumatica Suite Support

User support is available through partner vendors or from Acumatica itself. It offers three levels of support — Standard, Premier and Technology. Functionality and scope of assistance vary depending on the support tier opted for. Customers also have free access to the Customer Portal, which contains a searchable knowledge base, product downloads and more.

mail_outlineEmail: Online support is available through all three tiers of Acumatica support. Premier and Standard support holders can receive online chat assistance as well.
phonePhone: The Premier plan includes phone support. After-hours emergency assistance is also available with this plan.
schoolTraining: Acumatica Open University offers online self-paced courses for users that are looking to learn more about the system.
local_offerTickets: Case submission can be done online and is available for all software users.

Acumatica Reviews

Average customer reviews & user sentiment summary:

378 reviews

87%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

  • User-Friendly: While there were some mixed reviews concerning disjointed navigation and the need for in-depth end-user training, 85% of reviewers said that Acumatica is easy to use.
  • Reporting: Over 60% of users were in favor of Acumatica reporting. Those who were not in favor said that the reporting feature required IT assistance to generate specialized reports, as the custom report tool isn’t friendly for those without developer knowledge.
  • Customization: Nearly three-fourths of reviews that mentioned customization applauded the vast amount of opportunities for customization, while one-fourth of reviewers complained that users need IT assistance to complete customizations.
  • Functionality: Acumatica provides robust functionality - almost 70% of reviewers said the system came with every tool they needed and more. Reviewers also mentioned that yearly updates are rolled out, so functionality is always improving.
  • Integration: Of the users that mentioned integration in their review, 100% were satisfied with the connectivity to other systems.

Cons

  • Support: Almost 80% of reviews concerning support were negative, given that Acumatica requires users to partner with a third party for support. In addition, there were some grievances surrounding the “Help” documentation provided by Acumatica.
  • Implementation: Between long implementation cycles and a requirement for a VAR to implement the system, 75% of reviewers said that they weren’t happy with the process.
  • Bugs: Of the users that mentioned bugs, 75% said that they’re an issue for them.

Researcher's Summary:

Acumatica provides ample opportunity for customization and process automation, but IT assistance is typically required to complete these tasks. Also required is a third-party provider for support and implementation. With that being said, it’s recommended that Acumatica users are prepared with developer knowledge within their organization or third-party support for these efforts.

User Sentiment i

Based on 378 reviews:

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