Acumatica’s commitment to supplying our community of over 26,000 members with a modern, flexible, and innovative cloud ERP solution is non-stop and never-ending. This certainly applies to the construction industry as we’re constantly checking in with our construction customers to find out how we can improve our award-winning platform. Their candid and real-world feedback influenced the over 350 innovative updates we’ve made to our latest release, Acumatica 2024 R2.

Says Ali Jani, Acumatica’s Chief Product Officer, “Everything about the 2024 R2 release, focuses on customer value…R2 also contains the core building blocks that will allow us to further accelerate our AI and human design elements over the next few years.”

During our launch on October 2, we talked about the importance of having the latest innovations and technology. Today, we’ll dive into what Acumatica 2024 R2 delivers to our customers within the ever-evolving construction industry.

Acumatica 2024 R2 and Acumatica Construction Edition

In order to better meet the changing needs and evolving challenges of the construction industry, we introduced Acumatica Construction Edition in 2018. The fully integrated application enables users to manage projects, contracts, schedules, budgets, change orders, subcontracts, and compliance from a single, comprehensive platform, and even better, from one screen.

All project activities are accessible and easily managed, whether team members are in the home office or out in the field. Our construction application rests on an adaptable platform that provides open APIs, allowing integration with AI/Machine Learning technologies as well as critical third-party applications.

With Acumatica 2024 R2, general contractors, specialty trade contractors, home builders, land developers as well as companies in the property management and heavy/civil construction arenas can expect enhanced features focused on helping them overcome common challenges. Examples include relying on bad and/or delayed data, missing peer benchmarks, and measuring the wrong KPIs.

To address these and other construction challenges, Acumatica 2024 R2 delivers targeted enhancements. One example is our improved project billing workflow.

For construction companies, streamlining the collection of project-related information when expenses come from many sources (e.g., materials, labor, services provided) and having flexibility when creating invoices has been enhanced with Acumatica 2024 R2. Specifically, companies can now enjoy direct creation of a ProForma invoice, add Progress Billing Line on the fly, reorder progress Billing Lines, and link Substantiated Billing on to a specific ProForma.

Further enhancements to Acumatica’s Construction and Field Service applications include:

• Additional project quote statuses (e.g., Accepted by Customer, Declined by Customer) as well as the addition of “Email” to send options and the renaming of ‘Prepared’ to ‘Approved’
• Added Approval Map Reason Options to Expense Receipts, Subcontracts, Cost Projections, and Projects
• Improved Subcontract Import Workflow
• Default accounts (based on reason codes/posting classes)
• Document project imports (to set opening balance)
• New Edit Appointment Action improving correction workflow
• Ability to support ‘Close Purchase Order by Amount’ setting
• Expanded project transaction tagging
• Ability to investigate unrecognized bank transactions
• Calendar Board enhancements with Advanced Filters, a new Map Pane, infinite scrolling, and vendor information

These enhancements increase usability, streamline operations, and improve collaboration as well as simplify billing processes and improve cash flow management. The result? Construction firms getting paid faster—something customers, like Phoenix Renovation and Restoration, greatly appreciate.

Real-World Acumatica Construction Edition Customer Experience

Since 1999, Phoenix Renovation and Restoration has been offering expert fire repair, water clean-up, and mold removal services to their Kansas and West Central Missouri customers. Unfortunately, the construction company ran on disconnected, siloed systems for years, which led to a myriad of issues.

So, the company searched for a digital, cloud-based, and paperless ERP platform and unearthed multiple options, but Chief Operating Officer Eric Hugunin says that Acumatica snagged their attention. After implementing Acumatica Construction Edition, the company now enjoys:

• Unlimited user pricing
• Electronic approvals with remote login
• Real-time task views
• AIA reporting/billing
• Compliance management
• Daily field reports
• Expense management features
• Integrated CRM

With Acumatica 2024 R2, Phoenix Renovation and Restoration and all of our construction industry customers have the latest features and capabilities they need to build a stronger future—and to do so on their own terms.

To learn more about Acumatica 2024 R2 and how together we can build the future of business, contact us today.