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Janine Werner

Three colleagues discussing information on documents and a laptop screen.

5 reasons professional service firms should connect CRM and accounting

By | Accounting software, CRM, Professional Services | No Comments
Three colleagues sitting at a table discussing information on documents and a laptop screen.

Professional service providers need a bird’s eye view into their operations.

Most businesses are using different software to serve different needs, but is this truly the best practice for a professional service provider?

For attorneys, accountants, architects, engineers, and other services, the core of your operations relies on two unique sets of data: customer information and finances. Rarely are the two connected, often because they don’t connect in a valuable way to the organization.

But it’s essential to match your revenue and cash flow with the work you perform to ensure profitability for short- and long-term success.

Here are five reasons why integrating your Customer Relationship Management (CRM) with your accounting software is a must for any professional service provider:

1. Get a 360° view of every client

One of the greatest advantages of integration is having a holistic customer profile. The entire client history is in a single location, from customer lifetime value to order history and more. Service providers can use this data to identify opportunities and gain deeper insight into the customer journey.

2. Know your real profits

An influx of orders looks a lot like profit, but how much money are you really making? Even though clients are buying, you’ll still have expenses related to those orders, and you need an easy way to compare the two.

Integrating CRM software and accounting software can help you track the numbers with data rather than guesswork. Accounting can keep an eye on who and how to invoice, while sales and marketing can see exactly how they’re moving the needle.

Wooden scale.

Revenue doesn’t equal profit.

3. Improve process efficiency

A new project often starts in CRM as a lead or opportunity, then ends up in accounting as a paying customer. Integrating these two systems can create a smooth, seamless transition that saves time and eliminates details from falling through the cracks.

4. Manage costs more effectively

Transparency is essential for managing costs, especially in the subscription software era. Many companies invest in tools to help them manage costs and improve efficiency, but there’s also a cost associated with investing in multiple software products that only satisfy one job.

Integrating CRM with accounting can help you eliminate the need for multiple systems and lump your software needs into a single expense.

5. Eliminate duplication

Working in two siloes can lead to error, particularly concerning duplicate records. It creates confusion and costs time when you or your team are doing double data entry. A centralized system can set the record straight.

Integrate CRM and Accounting with NexTec Group

These are just a few of the benefits of integrating CRM with your finance and accounting software. A one-stop-shop for all information that connects client project work with revenue and expenses will help you get a clear picture of your business and save time and improve the way you work.

Let NexTec help you put it all together. We have been in the business of connecting CRM with accounting software for over 25 years. We can help you select the right CRM and accounting system made for the professional service industry.

We highly recommend Acumatica Cloud ERP for professional services firms. It lives in the Cloud and has all the essential functions that service companies need, including CRM, project accounting, project cost tracking, purchase order management, time and expense management, sales order management, service and support automation, and more.

Take a tour of Acumatica and discover how an integrated approach can help you run a more profitable business.

Take the Acumatica product tour

Warehouse worker taking note of supplies.

4 ways ERP improves productivity for distributors and wholesalers

By | Distribution / Supply Chain, ERP | No Comments
Worker looking at supplies on shelves.

How can ERP promote productivity for distributors?

With the supply chain turned on its head, many distributors are trying to find ways to go back to business as usual, but longer, unpredictable delivery times slow down incoming shipments and the entire process of receiving, organizing, and distributing goods to clients.

The challenges are multiplied by a complex supplier network, each supplier facing its own unique challenges with their supply chains.

There isn’t much that distributors can do about playing the waiting game with suppliers. But the good news is that distributors can find cost-savings internally. Now is the time to streamline efficiencies in inventory tracking, order fulfillment, and labor management.

Let’s explore a few of the productivity-boosting benefits of ERP that can help distributors compensate for supply chain delays.

Take control of inventory and ordering

With a modern ERP (Enterprise Resource Planning) system, distributors can keep track of inventory in real-time and make smarter ordering decisions. You can set low-level alerts that notify you when it’s time to reorder so you can get ahead of the game and keep your clients’ most in-demand products in stock. A top-notch ERP can also help you prevent over-ordering that takes up valuable warehouse space for products you don’t need.

Reduce delays in order fulfillment

ERP systems can automate order fulfillment activities that were once performed manually to save time and money and prevent costly errors. From processing orders to invoicing customers, companies can set up their own rules to manage everything from credits and returns, drop shipping, and even orders that involve multiple warehouses.

Shipping boxes on belts.

Time is essential in maintaining customer satisfaction.

Automate processes and save money

ERP helps distributors automate tasks and eliminates some of the manual activities performed in a distribution warehouse, which can reduce labor costs. ERP’s real-time data access can further minimize redundancy, ensuring each employee is focused on value-adding activities and not handling tasks that have already been completed. Automation also frees up labor hours so your staff can focus on higher-level tasks.

Unify systems for growth and innovation

One of ERP’s inherent benefits is uniting various business systems and functions that once operated in silos. For example, accounting, inventory, operations, and supplier management can be integrated into a single platform that gives you a holistic view of your operations. You can see the data in real-time and learn what you can do to get more efficiency out of your distribution process and maximize profit and productivity.

How Acumatica and NexTec is bringing productivity back to wholesale distribution

Acumatica Cloud ERP – Distribution Edition streamlines your distribution processes and helps manage inventory levels, sales ordering, pricing, shipping, sourcing, and billing. All your information is in one secure location. Because it lives in the Cloud, Acumatica gives you and your team anytime, anywhere access from any device to ensure flexibility, efficiency, and continuity of operations. With accurate, real-time data at your fingertips, issues can be identified early and addressed quickly.

As a gold-certified Acumatica implementation partner, NexTec Group can get your distribution or wholesale business up and running quickly, so that you can be productive and on the road to success, even during a pandemic.

Discover how ERP is closing the gaps in supply chain inefficiency. Take the Acumatica software tour.

Group of three colleagues looking at a document on a table.

4 Ways ERP Helps Professional Services Businesses Grow

By | ERP, Professional Services | No Comments
Group of three colleagues looking at a large document on a table.

How can you improve operations in your professional services firm?

Historically, ERP systems have been key drivers of information and growth for manufacturers. But today, manufacturers are not the only ones who benefit from ERP. Professional service firms like architects, attorneys, accountants, and consultants are finding benefit in powerful ERP software that an give them a 360-degree view of their business and their customers.

As a general rule, ERP systems like Acumatica deliver business value by optimizing front-end procedures and back-end operations. By integrating company data related to budgets, billable hours, client relationships, and other functions, professional services firms can focus more on business growth and less on time-consuming manual tasks.

Here’s a closer look at some of the benefits you can expect when you deploy ERP in your professional services firm.

Simplify complex projects

Every client and project is unique. Whether you’re the architect for a multi-floor facility or you’re handling an important legal case, every project requires a high level of attention to detail, progress tracking, expense reporting, and accurate invoicing.

ERP unifies all of the above to give you a single project profile. You can use Acumatica Cloud ERP to assign and track expenses for each project or client, include project notes, manage change orders, and even gauge your profitability. ERP serves as a single source of truth that gives you maximum visibility into your operations and how various practices of your business impact others.

Man sitting on his couch looking at his computer screen while holding a document.

Accurate billing is essential to profitability.

Improve billable hours

Billing accuracy is a major challenge for many professional service firms. Employees sometimes don’t properly capture time spent on billable activities, leaving hard-earned money on the table.

ERP makes it easier to track billable activities and can back up your billing claims with data. It logs how you spent your time to ensure each client is charged appropriately. Improved billing procedures can help increase your profits without also increasing your workload.

Track and monitor performance

For many professional services firms, people are their single most important asset. Choosing the right team for the project and tracking progress, performance and time is important.

ERP’s project management tools can give companies greater visibility into performance and progress. Monitor workloads and productivity to avoid overloading your people and ensure consistent, timely outcomes for your clients.

Woman sitting next to a robot.

How much time and money can automation through ERP save?

Automate manual tasks

Arguably one of ERP’s most advantageous benefits is its ability to automate many time-consuming tasks that were once done manually. Automating activities like invoicing, payroll, expense calculations, and timesheets not only saves time in the office, but also reduces the potential for human data entry errors to occur.

NexTec and Acumatica sets your professional services firm up for success

When it comes to choosing an ERP for your professional services firm, it’s important to select one that’s made with your unique needs and challenges in mind. Acumatica is built to help you provide the best possible service, in the best, most profitable way.

As a leading Acumatica implementation partner, NexTec is here to help you get the most from your ERP investment. Discover more when you take the Acumatica software tour.

A brief Intro to Acumatica Cloud ERP

By | Accounting software, Acumatica Cloud ERP, Cloud, ERP | No Comments

Acumatica Cloud ERP software wins multiple awards for it’s cloud-based ERP (Enterprise Resource Planning). It is considered one of the best business management solutions for mid-sized and small companies, and can run your entire company, including finance, project accounting, operations, the supply chain, field services, and more.

Nucleus Research ERP Value Matric June 2020According to Nucleus Research, Acumatica is the leader for greater usability and better functionality. It is a cloud-native SaaS business management solution with industry editions for manufacturing, distribution management, field service management, professional service, construction, and more. Acumatica focuses on product development, innovation, and customer support. It relies on its partners, like NexTec Group, for selling and implementation.

Acumatica helps your business to grow by:

  • Empowering your employees to work anywhere at any time via their web browser-based accounting, inventory management, and financial management applications
  • Enabling you to take control of your business with increased visibility into your business management processes from end-to-end
  • Streamlining your core business functions so you can concentrate on your strengths and find areas of opportunity and growth

With Acumatica, both in-office workers and remote teams will get data in real-time because Acumatica is an ERP solution that is available on any of the following platforms and Internet-enabled devices:

  • Apple iPad or iPhone
  • Google Android tablet or smartphone
  • Windows OS
  • Mac OS
  • Linux OS

To learn more about how Acumatica Cloud ERP can streamline business processes, and increase profitability, check out these additional resources:

Video: Acumatica Cloud ERP Product Tour

Forrester Report: The Total Economic Impact™ of Acumatica

Looking for an Acumatica solution for your company? Choose your industry from the list below:

As a gold-certified Acumatica partner, NexTec has been implementing Acumatica for years. Our dedication to customers has given us a 95% client retention rate. Contact NexTec today and let us become your Acumatica partner.