Acumatica 2019 R1 release is surely bringing flexibility, advancement, and growth to the construction industry. It includes numerous new and enhanced capabilities across financials, project management, and accounting, ensuring to meet or exceed the functionality and usability needs of project teams. Right from the beginning, Acumatica ERP is bringing innovation by taking feedback from its customers and partners to deliver each software product with optimal value. Contractors can use improved features to satisfy their needs more effectively with timely updates to project issues and RFIs, everything within Microsoft Outlook, and newly established Drawing Logs and Project Budget Forecast. In general, this software upgrade involves features and usability improvements to three core areas i.e. the platform, business applications, and industry-specific requirements. Additional enhancements such as Project Budget Control Warnings, Commitment Inquiry Filter, a new Pay when Paid Report brings more intuitive and easy to use capability into the system. Key Features of Acumatica Construction Edition In Acumatica Construction Edition, there are best-in-class features and functionality that make the software more comprehensive and simpler to use. Here are a handful of features you can witness in Acumatica 2019 R1: Drawing Logs – Drawing Logs allow users to preserve drawings and sketches needed for the project. In an instance of changes or modifications to the initial drawing, the staff can revise and attach the updated drawings. This can be associated with Request for Information (RFI) and project issues that offer all the requisite information. Project Budget Forecast – This enables project teams to enter and alter project budget forecasts. Users can also compare these forecasts with the actual project expenses and revenue for a specific financial period. You can distribute amounts and quantities of the project budget. Through forecast data, you can develop generic inquiries and pivot tables. Pay when Paid – This feature helps to report the paid amount involving retainage, original retainage, total balance, and unreleased retainage for a specific financial period for invoices. Users can measure what was funded by customers to what they owe to their suppliers or subcontractors when choosing AP Bills to pay. Project Budget Control Warnings – It alerts the user when the cost exceeds the revised budgeted amount for a particular project key, including project, sub job, cost code, and account group. The validation is examined at the project key level from all the way to the detail lines within the same project key. Improved Features of Construction Accounting Software Project Management Preferences – It includes an all-new Due Date Calculation Type to raise requests for information documents and project issues. This option consists of Sequential Days and business day format which allow users to evaluate the due date by adding a particular number of days to the current date. Project Management Classes – It has a default due date for project issues and the power to customise or adjust RFI and project issues on a priority basis. Request for Information (RFI) – Users can attach project files to an RFI, combining project Drawing Logs, attaching drawings with a zip file, and crafting an incoming RFI into an outgoing RFI. The final step can help to fill the communication gap among upstream owners, engineers, project teams, downstream subcontractors, and supplies. Project Issue – Users can turn the Project Issue into a Request for Information (RFI) and link related project drawing logs. Procore Integration – Users can experience the best navigation between individual mapping screens and the core mapping screen to work easily across Procore and Acumatica.  General R1 Release Additional Features for Contractors and Acumatica ERP Users Not only this, but Acumatica 2019 R1 also provide further usability and features enhancements to the construction accounting software, such as: Perform Usability Highlight inquiries based on customised conditions Provides side panel improvements Enhanced help service via machine learning – Custom colour option for branding purposes Linking existing files Include progress bar for long and effective processing New end-user training Multi-factor authentication General Business Application Enhancements Financial management Project accounting Industry-Specific Enhancements Order and inventory management Commerce Field service Manufacturing Construction Improve Ease of Use and Functionality with Acumatica 2019 R1 The enhancements in Acumatica Construction Edition allow the contractors to incorporate valuable innovation into the firm, resulting in productivity and streamlined project management processes. The 2019 R1 launch continues to set a benchmark in terms of operational performance and business outcomes so if you want to refine your company’s processes, Acumatica cloud-based ERP solution could be an excellent choice for you.

It is no surprise that the construction industry has always responded well to advancements, especially when confronted with complexities that encourage companies to evolve and scale. Construction firms tend to experience several opportunities and obstacles, which is why technology and product innovation is essential to achieve ultimate success. We believe keeping up with digital transformation allows companies to sustain for the long run and that’s why we continue to improve our ERP solution while taking industry-specific and clients’ needs into account. Because every business has unique needs, Acumatica Construction Edition isn’t built on a ‘one-size-fits-all’ approach so you will effectively manage your business operations with no hassle. That being said, technology innovation plays a significant role in the success of the construction industry, and here’s why: The entire industry has now realised the fact that seamless, modern, and automated software is needed if they want to accomplish business goals. The decision-making process may experience delays due to a large number of employees. Therefore, you should use a cloud ERP solution to keep teams connected across all departments. The construction sector might have understood the absolute need for specialised trade and pushing experts to follow the same. This is why you should implement an ERP solution for seamless integration with third-party applications. The construction industry is rapidly evolving and bringing continuous growth in technology with it. How Technological Advancement is Transforming the Construction Industry? Helping Companies Gain a Competitive Edge The modern, cloud-based ERP system gives companies the most potential to stay ahead of the competition and transform their business with automated and best-in-class functionality. You can access useful insights, anywhere, anytime which provides better flexibility through the construction-specific application.It eliminates the workflow burden as the system can be easily integrated into front and back-office needs. Data and applications are synchronised and the entire project is brought into a single version of the truth. Feature enhancements like project budget forecast, drawing logs, project budget control, and more can help you reap the profits. Streamlines Decision-Making Process The construction industry has gone through a lot of changes. Traditionally, the back-office team was established to make the final call but now decision-making seems a pendulum swing across all departments. Modern systems support API standards, enabling you to communicate and exchange information in a hassle-free manner and in real-time, increasing retention.A scalable ERP solution benefits both the parties equally and ensures a collective success, which is a future-proof formula for the organisation. From project tracking to budgeting, document control, customer relation, daily operations, and more, a cloud ERP system covers every need. Creating an End-to-End Solution As it isn’t possible to build one solution for every client and user, we see our cloud construction software working on specific areas of projects. Our modern solution gives a unique set of capabilities that enables easy integration of third-party applications to connect and communicate with an end-to-end solution.Acumatica Construction Edition fits well in a range of subjects, providing real-time visibility into insights, eliminating duplicate data entry, and avoiding delays in processing. Let Us Take You On the Road of Innovation with Advanced Acumatica ERP System At Netsense, we believe in a culture of innovation and that’s what we strive to do with our forward-thinking Acumatica ERP system. We never leave any stone unturned to enrich business performance and improve our construction software to encourage companies start a technology revolution. Are you ready to benefit your firm today and in the future? If yes, talk to our experts to see Acumatica Construction Edition in action and get started today.

The COVID-19 pandemic has adversely affected and deteriorated our economic condition, with disconnected teams, less visibility into cash flow, and rapidly growing customer demands, many construction firms struggle to set a benchmark. To get through challenging times, companies should always look for innovative ways to boost their growth and fulfil project requirements. Well, you can do better. But how? By using Acumatica Construction Edition, which is designed with keeping industry-specific needs in mind, helping workflows run smoothly so you’re never caught off guard. Implementing a cloud ERP system in a construction company could help you gain a competitive advantage and map out digital transformation rewards. Let’s take a look over some aspects of the Acumatica ERP system that immensely benefits your business and enhance team collaboration. Each pointer will help you learn more about the features and functionality of ERP software. Real-Time Access to Business Operations and Data Since remote working has become a new normal nowadays, a modern cloud-based ERP system could help you get rid of scattered spreadsheets and automatically sync with business insights. When a team has up to date visibility, they can access, edit, and share documents anytime, anywhere that can improve collaboration and the decision-making process.ERP solution gives a 360-degree view of business facets, including production, inventory, sales, order materials, daily project endeavours, track costs, and a lot more, everything from one centralised solution. Keep Team Members Connected and Simplify Workflows You can harness the power of cloud construction and accounting software to streamline your business workflows, keeping the workforce informed at every stage, thus, increases productivity. From start to finish, you can manage all sections of business automatically, which reduces upfront costs and delays. You will also benefit from Business Intelligence (BI) tools that enable you to evaluate current and future project needs. Balance Your Cash Flow More Effectively Tired of managing your cash flow? With cloud ERP solution handling cash flow is no longer a never-ending process. You can easily integrate bank balances, invoices, and budgets into a comprehensive view of cash flow that helps you to meet payroll and manage business activities seamlessly. Enhance Customer Satisfaction With real-time dashboards and best-in-class functionality, you can establish tight project controls that result in increased efficiency and customer satisfaction. When all business units work collaboratively using real-time information, they get optimum vision and tools to make proactive decisions. Acumatica Cloud ERP Software – A Smart Choice to Increase Profitability and Growth Acumatica Construction Edition can effectively support all business areas, including sales, inventory, project, materials, payroll, financial, and budgeting. With scalable features, cloud-based technology, and seamless integration with a third-party application, you can strengthen your company’s foundation and grow in terms of revenue and project management. Keep in mind, manual procedures, lack of insight into projects, and unorganised data are no longer acceptable. Thus, you should consider implementing our Acumatica ERP system to keep team members informed at every phase and manage functions more effectively. Ready to Take the Next Step? Netsense, being a Gold Certified Acumatica Partner in Malaysia and Singapore offers an advanced cloud ERP system to take your business on the path of digital transformation. You can schedule a demonstration with us to learn more about our Acumatica ERP solution and build a scalable system that gives your business the potential to grow.

The construction industry will find something to be happy about in Acumatica’s latest release, Acumatica 2019 R1. Contractors in particular will appreciate the usability and functionality improvements benefitting their project teams. When Acumatica builds new construction functions and features into our software, we don’t do it alone. It begins with looking to our customers and partners for feedback and advice on what they want most and carries through delivering a release with optimal value. In the Acumatica 2019 R1 release, Acumatica Construction Edition includes numerous enhancements and new features across Financials, Project Accounting, and Project Management. Contractors will see enhanced features to better meet the needs of their project teams with updates to Project Issues and RFIs including the ability to add RFIs and Project Issues from within Microsoft Outlook and the newly added Drawing Logs and Project Budget Forecast. We’ve also enriched the integration to Procore, making it easier for users to seamlessly work across Procore and Acumatica. Additional enhancements include a new Commitment Inquiry filter, Project Budget Control Warnings, and a new Pay when Paid report. Acumatica Construction Edition feature details In response to customer requests to better meet the needs of their project teams, there are new features and enhancements making Acumatica Construction Edition more intuitive and easier to use. Acumatica Summit 2019 attendees were able to see some of these new features live during the Day Two Keynote. For those who missed Summit, you can download the Keynotes now. Here are new features Acumatica 2019 R1 brings to Acumatica Construction Edition: Drawing Logs: Drawing Logs enable project teams to store drawings and sketches on a project. In case of changes or revisions to the initial drawing, the team member can create a revision and attach the updated drawing(s). Drawing Logs can be linked to Request for Information (RFI) and Project Issues making it easy to provide the necessary information in order to ask questions. Project Budget Forecast: The budget forecast feature allows project teams to enter and modify project budget forecasts and compare these forecasts with the actual project costs and revenue for each financial period. Users can forecast original and revised budget amounts and quantities for existing project budget lines for financial periods on the master calendar. Each project can have multiple budget forecast revisions. In a forecast revision, a user can distribute amounts and quantities of the project budget among the selected range of financial periods to speed data entry. By using forecast data, users can create generic inquiries and pivot tables. Project Budget Control Warnings: The project cost budget control warnings notify that when costs exceed the revised budgeted amount for a specific project key (Project, Sub Job, Cost Code, Account Group). The validation is analyzed at the project key level across all detail lines with the same project key. The validation includes released commitments and change orders per project key. Please note this is Phase 1 with additional features planned for a future release. Pay when Paid: The Pay when Paid reports display paid amount including retainage, total balance, original retainage, and unreleased retainage up to the specified financial period for invoices and retainage invoices. The reports do not consider paid amounts after the specified financial period. Users can compare what was paid by the customer (AR Docs by project with paid amount) to what they owe their subcontractors/suppliers (AP Docs by project with paid amount) when selecting AP Bills to pay. And Acumatica 2019 R1 provides further enhanced features to our construction accounting software, including: Project Management Preferences has a new Due Date Calculation Type for Request for Information documents (Answer Date) and Project Issues (Due Date). The due date calculation options include Sequential Days (including weekends) and Business Days. Sequential Days (including weekends) calculates the due date by adding the specified number of days to the current date. Business Days calculates the due date by adding the specified number of days to the current date but only counts the days of the week selected on the specified Work Calendar. Project Management Classes now include a default due date for project issues and the ability to customize RFI and Project Issues priorities. Project Issue enhancements include converting a Project Issue into a Request for Information (RFI) and linking associated project Drawing Logs. Request for Information (RFI) enhancements include attaching project files to an RFI, linking project Drawing Logs, attaching drawings with a zip file when sending the RFI, and creating an “Incoming RFI” into an “Outgoing RFI”. Incoming and outgoing RFIs help project teams manage communication between upstream owners, architects, and engineers and downstream subcontractors and supplies. Commitment Inquiry has a new filter for document type on the header that allows the user to specify a specific type of commitment (subcontract or purchase order) or see all of them. Procore Integration has Improved navigation between individual mapping screens and the main mapping screen making it easier for users to seamlessly work across Procore and Acumatica. General features for the Acumatica cloud ERP community The General R1 release provides additional features that are of interest to both contractors and to the entire Acumatica community. Platform Usability Highlighting results in Inquiries provides visual clues on rows or columns of a generic inquiry based on customized conditions that have been introduced. Based on the alerts required, the system will highlight certain elements of a generic inquiry. For example, when inquiring on “opportunities”, the resulting grid can show those opportunities that have been won in green, those that have no owner in yellow, and opportunities that are late in red. Side Panel displays the details of a row on an inquiry screen. Changes to the data can be made in the side panel and the information displayed in the panel can include data or dashboard graphics without leaving the inquiry screen. In 2019 R1, significant improvements have been made to the Side Panel UI for improved usability. Improved help search via Machine Learning (ML) where inquiries made in the HELP menu inform the system what was useful and how to provide better help recommendations over time. Based on how effective the response to a natural language search has been, the system knows if

A better, more competitive construction business begins with modern construction and accounting software that provides regular updates. Acumatica Construction Edition—with new improvements from Acumatica 2020 R1—checks both boxes. What are some ways to remain competitive as a contractor? Staying current with technology is one way. Establishing remote connectivity and ensuring business continuity are other ways to keep your business running smoothly and competitively during the COVID-19 crisis. All three are possible when you implement modern cloud construction software, such as Acumatica Construction Edition, and when you adopt accounting and project management updates provided by Acumatica 2020 R1, Acumatica’s latest cloud ERP release. Acumatica 2020 R1 and Acumatica Construction Edition Now generally available, Acumatica 2020 R1 provides improved usability, functionality, and cross-connected workflows. Acumatica Construction Edition, which offers residential and commercial construction management companies a secure, mobile, and single-source cloud solution, has a number of improvements you’ll want to review and utilize. 1. AR Retainage tracking made easier Automate retainage tracking by configuring projects with stepped retainage percentages, when to decrease the retainage to the next step, and/or when to stop holding retainage. Negotiate a lower overall retainage holdback by capping the maximum retainage held to a percentage of the potential retainage and set a cap. Retainage amounts can change as your project reaches completion Ability to include change order amounts in the contract total calculation Includes stepped retainage threshold and retainage percentages Includes an option to cap retainage at a certain percentage of the overall retainage 2. Expanding capabilities with new, native payroll (Currently for US Only – Asia release soon) Acumatica Payroll enables contractors to eliminate the cost of maintaining an interface to an external payroll system and benefit from time flowing seamlessly across Acumatica financials, job costing, business intelligence, distribution, manufacturing, construction and field service. Supports salaried and hourly workers, integrated taxes and tax forms, certified wages, union wages, timecard integration, and flexible payroll periods Set up, modify, and report on payroll from anywhere, using any popular web browser Access and analyze payroll information with out-of-the-box reporting and inquiry screens 3. Extending project management Project Managers will benefit from the continued expansion of project management functionality and increased visibility to project data and documentation. Photo Logs: Photo Logs help users manage progress photos taken by field superintendents, or other employees, and associate those with projects and project tasks. Unlimited photos per log Ability to download photos to a zip file Ability to email photos Filter and Search to quickly find photos Change Orders: Change Orders have been extended to the Acumatica mobile application. Users can easily create, update and delete change orders from anywhere. Update summary information, cost budget, revenue budget, and commitments Submittals: Submittals help reduce calls back to the office and increase accuracies of the data.  Gather, organize, and manage project submittals through our dashboards, and notifications to keep your project on schedule without any surprises. Supports a workflow providing the project team with clear, consistent, and easy to access project submittal details Ability to monitor reviews and approvals by always knowing the responsible parties and where the “ball in court” resides Access submittal activities with automated email capture or appointments, messages, phone calls, work items, and notes Cost Projection Entry: Allows users to forecast remaining and final costs for a project.  These forecasts can be entered for specific points in time, providing a vision of costs during the project life cycle. Forecasts can be compared with the initial budget estimates, helping detect potential problems early in a project Users can create multiple revisions, as needed, creating “What-If” scenarios 4. Communications are easy with Outlook Eliminate multiple processes to update project activities with our simple, easy to use, Outlook Add-In. Now available are several new enhancements making communications even easier for Project Managers. Add emails to Project activity Add emails to existing RFI or Project Issue activity Additional criteria when creating an RFI from email 5. Offering more flexibility with Procore Integration The enhanced Procore integration makes it easy to configure and schedule the synchronization between Acumatica customers, vendors and Procore companies. Bi-directional workflow of information Automate updates between applications when convenient by setting a schedule Provides Vendor insurance certificates for compliance purposes 6. Impactful reporting Each release contains reports helping contractors run a smoother business. A new Project Bonding (Profitability) Report has been added, increasing the information available to share with outside parties, as well as providing internal visibility.  The report will provide Earned Revenue, Billed to Date, Unbilled Contract Amounts, as well as Cost Incurred to Date, Calculated Cost at Completion, Current Period Costs/Billings, as well as prior year Billings and Costs. Acumatica Construction Edition for a better, more competitive business The new features and enhancements seen in Acumatica 2020 R1 ensure essential remote connectivity and business continuity during the COVID-19 pandemic. Contractors can benefit from the cloud and can learn how by attending this free webinar. Many of the features have also been at the behest of our customers. Your feedback helps make Acumatica Construction Edition—and all Acumatica modules—even more intuitive and easier to use. You can find further details on our latest release in the Acumatica 2020 R1 Overview and by downloading the Acumatica Summit 2020 Day One and Day Two Keynotes. “2020 R1 is a significant new product release,” said Acumatica CEO Jon Roskill in a recent press release. “We have to pause sometimes and marvel at the pace of innovation consistently delivered by our product team. Acumatica customers and partners keep clamoring for more and they get it, twice a year, with real quality.” If you haven’t yet implemented a quality, modern cloud construction and accounting software, then contact our team today. We’ll explain how Acumatica’s cloud-based ERP solution and Acumatica Construction Edition can help you run a better, more competitive business, even in uncertain times.

In a recent webinar, Acumatica spoke with a panel of experts on navigating COVID-19 challenges. They offer some sage advice for construction professionals, including the wisdom of implementing cloud-based construction and accounting software. The challenges of the COVID-19 pandemic, including pivoting to a remote working model, are being felt by businesses in every industry. Construction firms are particularly challenged with a workforce split between the office and project sites. A panel of experts suggest that embracing the new state of work and implementing cloud-based construction and accounting software, such as Acumatica Construction Edition, can help make the shift to a remote-based business virtually seamless. Navigating COVID-19 challenges In a recent webinar, Ajoy Krishnamoorthy, VP Construction, Acumatica moderated a panel of industry professionals about the COVID-19 pandemic. The panel included Dawne Meijer, Controller, Pin Oak Corpus Christi; Stuart Binstock, President and CEO, Construction Management Financial Association (CMFA); Mike Griffith, Managing Partner, Alliance Solutions Group; and Warren Hennagin, Partner, Marcum LLP. Like all of us, they’ve had to adjust their business processes to overcome the COVID-19 challenges. They took time out of their busy schedules to share what has been working and to offer advice for those in the same situation. Dawne, the Controller for Pin Oak Corpus Christi, a storage and logistics company that serves North America’s crude, refined product, and chemical industries, says for them, Acumatica’s construction and accounting solution has ensured business continuity during the crisis. Pin Oak has smoothly transitioned its employees from working in the office to working at home because of that decision. In fact, this transition was already in the works before the pandemic hit. “We were going to do it around March 13th. We checked out monitors to people, sent laptops home, and then we never came back into the office,” Dawne says. “It’s been a challenge, but our organization has rallied.” Having their construction and accounting software in the cloud has been a tremendous help. “We don’t have to worry about the server back in the office we have to VPN into. The transition for accounting, projects, and purchasing was pretty seamless. We could pick up and go.” Pin Oak is an Alliance Solutions Group client. Dawne says they participate in Alliance Solutions Group’s “Customer for Life” program, which provides online training, support, and conferencing. “In the last month, we’ve been using a lot of the resources to even further automate and streamline our processes.” Mike, a managing partner at Alliance Solutions Group, considers Dawne’s company ahead of the curve. Many of his other clients, including construction contractors, are running on legacy systems. They are uncovering insufficiencies and areas of improvement since their employees have been working remotely and are just now requesting information on cloud-based solutions that highlight productivity. While there are many cloud-based applications available, such as Procore, that can help them do their jobs, Mike says having only part of their operation in the cloud isn’t going to cut it. They need a flexible, comprehensive ERP system for construction companies, such as Acumatica Construction Edition, that lets them work from home and/or on the project site, and the system needs to be able to handle all—not some—of their processes. Acumatica Construction Edition gives general contractors, home builders, land developers and subcontractors access to real-time data in the cloud, including project reports, contracts, budgets, plans, purchase orders, change orders, and more from a central system. Additionally, accessing their data and communicating with their teams is possible from any internet-enabled device whenever they need, from wherever they are. Helping others during the crisis The Navigating COVID-19 Construction Challenges webinar also touched on how organizations, like the Construction Financial Management Association (CMFA) and Marcum LLP, are providing businesses with tools and resources that can help them continue operating in today’s altered reality. For example, Marcum LLP, the 14th largest CPA firm in the United States, is helping their construction clients with understanding how the Paycheck Protection Program (PPP) loans work. Warren, a partner at Marcum, advises businesses to be diligent in utilizing the money as soon as they receive it. “The day it gets funded, the clock starts. You need to start accounting for it from day one.” He says that businesses have eight weeks to spend the money, 75% of which must be used for payroll and payroll costs with the other 25% going towards rent and utilities. If a business follows that criteria, the loan is forgiven. A recent Forbes article lays out the details even further. CMFA has also been helping businesses with many resources, including webinars and the COVID-19 Resource Center. The online resource is organized by topic with job site, finance, industry, and risk updates as well as industry news and other websites to refer to. It is accessible and free of charge for members and non-members. Another online resource by CMFA is the Connection Café, a forum for the organization’s 9,000 U.S. and Canadian members where they can post questions for other members to answer. Stuart, President and CEO of CMFA, says the outpouring of advice and help during the last two months has been “heartwarming” as “everyone is chipping in.” Stuart also says that CMFA’s annual conference, which was scheduled for this month, is now a virtual conference starting June 22, 2020 through June 26, 2020. CMFA is offering 26.5 CPE credits, and attendees are allowed to watch the trainings live or on demand up until September 30, 2020 to earn them. “This flexibility was key for us moving forward,” he says. “It’s a win-win for our members.” Closing words of advice for navigating the COVID-19 crisis The panelists offered some closing words of advice for those in the construction industry: Monitor your backlog. There may be work now, but are you out there bidding for future projects? You should also be monitoring your cash flow (especially if people begin to hoard as we have seen with other products) and monitoring your supplies. Currently, domestic supplies seem to be available but imported supplies are delayed; your supplies are your lifeline, so stay on top of what you need. Continue to social distance, wash hands, wear masks, and