in: Acumatica, Company News
Acumatica distribution cloud ERP software provides complete management of the quote to cash cycle for small to mid-sized companies. It’s a powerful, cost-effective software that helps companies manage their operations, accounting, finances, and other business processes with one software package.
We know that distributors are keen on improving productivity and improved productivity leads to higher profits. That’s why Mindover Software created the Distributor’s Guide to Improving Profits. You can download your free copy, no strings attached, right from our website.
The Quote to Cash Cycle: Not Just for Big Businesses
If you’re unfamiliar with the term “quote to cash cycle” don’t worry—many small to mid-sized distributors aren’t familiar with it. It’s usually a term reserved for big operations. Yet all sizes of companies use the quote to cash cycle in various ways.
The cycle consists of seven basic steps:
- Lead
- Opportunity
- Quote
- Contract
- Order
- Provision
- Billing
Each step comes with its share of challenges. Leads, for example, must be managed within the system, followed up on by your sales team, and tracked through all stages of the sales cycle. When an opportunity is identified, it then goes into estimation and quotes. If the quote is accepted, it becomes a sale and a contract, which generates an order. When the order is delivered, it hits the “provision” step or fulfillment. Lastly is billing. When the bill is paid, the cycle is closed, and the system starts all over again.
Cloud ERP software can help you manage each step of the quote to cash cycle efficiently. The insights gained from using one software package throughout your distribution business can help you make smarter decisions about all aspects of your business from lead generation to order fulfillment. It starts with a comprehensive enterprise resource planning or ERP system.
Acumatica Distribution and Manufacturing Software for Complete Quote to Cash Service
Instead of using one system such as an ERP, many companies use different software packages to manage various functions. Sometimes, this is the result of legacy products being replaced piecemeal. Other companies just don’t know the benefits of a cloud ERP system. They may have an accounting and finance software package to run their bills and develop estimates and quotes. Another package provides lead management. Contracts may be supplied through separate documents generated by the legal department, and the warehouse team manages order fulfillment. If they’re lucky, these various software packages tie together somehow through reports or customized integrations.
But there’s a better way. Acumatica distribution and manufacturing software is one package, one cloud ERP, that offers multiple functions in one streamlined and easy to use system. Add onto it any of the additional solution suites offered by Acumatica for seamless integration with your base cloud ERP package and use the entire suite of powerful Acumatica programs.
Leads generated through your marketing campaigns can be entered into Acumatica Customer Management, and opportunities identified within the system. Quotes can be created and sent to customers and, if accepted, flow into the contract phase. Order fulfillment, inventory management, supply chain management, and more can all be handled through the Acumatica cloud ERP system. Follow up on your billing and reconcile bills in the accounting module and you have complete, up-to-the-minute insight into your company’s lead cycle, order fulfillment process, closing rate, receivables and payables, and much more.
The cash to quote cycle isn’t just for big companies. All companies follow similar steps. Smart companies use Acumatica cloud ERP to manage it!
Acumatica Distribution Management: Choose Your Distribution Software
When examining cloud ERP solutions, looking for distribution management software can feel overwhelming. How do you sort through the various bells and whistles to find precisely what you need?
There are five major categories to consider when comparing distribution management software:
- Productivity: How does this software enhance productivity? What features does it have that can make our workforce more productive?
- Functionality: What features, functions, and attributes does this system have to handle our daily business needs? Look for accounting, finance, and operations functions that will help streamline your business.
- Technology: Will the product be easy to maintain? Does it require customization to use? How new or recent is the technology?
- Value: Will we get the most out of the product’s lifetime value?
- Risk: What are the security features in this technology to minimize risk?
Each of the questions may lead to additional questions. It may be helpful to use these big questions as a guideline and a starting point for your software evaluation.
Some companies will find that one category above all others outweighs the rest. For example, if your company has limited tech resources, you may prioritize technology over value. A system that’s easy to update or comes with automatic updates and offers a cloud-based interface that runs through your browser may be more appealing than a site-based installation that needs someone to manage it. Risk is also lessened with cloud software since cloud service providers usually have multiple safeguards against hacks and other attacks that can compromise their customers’ data.
As you go through the list of “must haves,” also consider whether the cloud ERP system you’re considering integrates with existing software. Can it replace what you have? Can you migrate records into the new system simply using a CSV file or another compatible file, or will you need to hire someone for custom integration and software customization?
There’s no right or wrong answer to these questions. Some companies are okay with custom integration or paying a consultant for custom reporting features if they receive a product that has the functions they want. Still, others value data security over other issues and want assurance that the cloud ERP product they choose offers the highest possible protection. Every company must weigh the pros and cons of each category for itself.
Work with a Seasoned Acumatica Distribution and Manufacturing Software Consultant
That’s where Mindover comes into the picture. You can certainly research software on your own but working with a company such as Mindover can save you a great deal of time.
Mindover Software has over 19 years of experience working with companies of all sizes to help them choose the right cloud ERP systems for their needs. Our experienced team includes CPAs and MBAs with 10 to 20 years of real-life work experience. These are people who have wrestled with the same questions you’re asking and have come up with the answers. They have real-world business experience and have walked the manufacturing floor, handled inventory, and worked with the accounting and finance teams for companies in many industries. Because of this experience, they can answer your questions with authority and ease, and help you sort through the myriad questions running through your mind as you look across the range of software choices for your company.
Small to mid-sized companies often wonder if the same systems they see in place at big companies can work for them. The answer is “yes” with the right software. Acumatica distribution and manufacturing software enables even a small niche manufacturer to enact a quote to cash cycle that’s efficient and streamlined. With modules that add to and integrate easily with the base cloud ERP system, your Acumatica solution can include accounting, financial management, warehouse and distribution management, customer relationship and lead management and much, much more.
Before selecting any software, we invite you to speak with a consultant at Mindover Software. We provide strong local support for our clients and work with you to make sure that not only do you have the best solution for your needs but that the solution works well and that your team understands how to use it.
Acumatica distribution and manufacturing software plus cloud ERP can provide powerful day to day support, real-time insights into your company’s finances, and enhanced features like lead management and customer relationship management. If competing with the big companies in your industry sounds like something you’re after, call Mindover Software today at 512-990-3994.
