How can software and technology companies compete in an environment of change?
However, many high-tech companies struggle to remain competitive in this disruptive environment. Their business goals are complicated by a combination of dependent processes (such as development, manufacturing, delivery, and service) and a more rapid product release cycle than other consumer/industrial products.
Your company’s accounting and management systems must respond rapidly to your evolving business requirements
Global, cloud-based systems, such as Acumatica, provide full function and integrated enterprise-class accounting, order processing, CRM, project management, and self-service business intelligence (BI) to the software and technology industry.
The system is also designed with flexibility at the forefront, so you can run your tech business the way you want. With an integrated front and back office and real-time dashboards, you’ll quickly gain control of your business:
- Track sales invoices, payments, recurring billing, and customer maintenance plans
- Manage deferred revenues and expenses
- Track profitability by product or service
- Reduce delinquent payments
- Manage cash
- Improve your level of service
Since it is web-based, Acumatica can be accessed from anywhere with a web-browser – to support your mobile workforce. The Acumatica Suite was designed to meet the needs of technology and software companies in one integrated package.
Mission-critical functionality for today’s tech companies
Deferred Revenue Recognition
The Deferred Revenue Management module of Acumatica ERP provides functionality that helps software and technology companies manage deferrals for both revenues and expenses. You can define any number of deferral codes for setting up various scenarios of revenue and expense recognition.
The Deferred Revenue Management (DR) module allows you to automate and accurately account for situations where you need to recognize revenue in future time periods. Automate any deferred calculation by assigning a schedule to any transaction line item or inventory component. Because this module is integrated with both the Accounts Payable and Accounts Receivable modules, the system generates deferral transactions automatically in accordance with the deferral code assigned.
Although the effective date is not until January 2017, Acumatica supports the new joint standard on revenue recognition published by IASB and FASB in May 2014. This replaces past revenue recognition U.S. GAAP and IFRS. Originally ASC 985-605, this addresses the revenue recognition of mixing tangible items (like a computer) with non-tangible products (such as software). Acumatica allows configuration of a multiple component package of stock item or non-stock items as part of the deferred revenue recognition.
Acumatica’s advanced deferred revenue functionality is included at no extra cost with the Acumatica Financial Suite. Integration with other financial modules provides accurate accounting of both deferred revenues and deferred expenses.
Acumatica enables you to custom-fit your billing models to meet the requirements of your business today, with the flexibility to adapt as your business grows and your billing needs change. Acumatica’s recurring billing capabilities enable subscriptions, metered usage, on-demand, tiered services, one-time transactions, payments, and invoices to be seamlessly conducted across customers, accounts, districts, organization, channels, and product lines.
Contract Renewal Automation
Maximize contract renewal revenue with automated scheduling and management of renewal activities. Automated views of the number of completed renewals, renewals due, and past due renewals enable you to proactively plan renewal activities.
Cloud-based technology to facilitate change
Works from multiple locations
Share data with offshore offices, remote sales offices, and corporate offices. Unlimited user pricing allows you to involve employees, partners, and customers so you can automate ALL business processes – even processes that span continents.
Works where you do
Access and act upon real-time data using any device with a browser. This makes you productive whether you are in your office, at your datacenter, or traveling.
Grows with your business
Acumatica is priced for unlimited users so you can involve employees, external partners, vendors, and customers in your business processes. Flexible invoicing and accounting allows you to respond quickly to pricing changes and other market developments.
Less technology headaches
Acumatica was designed and built on Microsoft .NET to meet the needs of fast-changing businesses. Everything you need is included in one integrated package – no more information spread across multiple systems.
Types of software and technology companies we serve
- Design, development, and delivery of:
- System software
- Application software
- Custom applications
- Mobile device applications
- IT and development tools
- IT or software consulting
- Installation or implementation of IT hardware and software
- Hardware or software training services
- Customer Support Centers (Hot Lines)
- Cloud (Hosting or SaaS) providers