ACUMATICA SUMMIT 2018 RECAP

We said it last year, and we’re saying it again.  This year’s Acumatica Summit was the biggest yet.  More than 1,100+ attendees, including our team, descended on Acumatica Summit 2018 in Nashville, TN and were treated to a Keynote from Acumatica CEO Jon Roskill, demos of upcoming releases, informational sessions and more.  This year was even more special because it marked Acumatica’s 10-year anniversary!

A look back at 10 Years of Acumatica

Acumatica was founded in 2008 by five or six Parallels employees who had been developing a next-generation billing solution.  Eventually, they realized the technology they had been developing was well-suited for the ERP market, split from Parallels and founded Acumatica to focus on developing their native cloud ERP system.

Between Acumatica’s inception in 2008 and 2010, its founders began to develop the platform.  The original billing system they created became its financial management module.  In 2010 their first customer became Parallels, the company they had left just two years earlier.

In 2012, Acumatica signed its first OEM agreement with VISMA.net and then they moved their HQ to Seattle in 2013.  In 2014, Jon Roskill became CEO of Acumatica.  By 2015, they had over 1,000 customers and in 2016, Acumatica added to their growing portfolio by acquiring M5-Software, allowing them to focus on solutions for companies in the service industries.

2017 a Year in Review

During the opening Keynote, Acumatica CEO Jon Roskill informed more than 1,000 attendees that Acumatica had a stellar year of growth.  He went on to rattle off some statistics to back up his statement.

In 2017, Acumatica:

• Surpassed 4,000 customers world-wide in a variety of industries like manufacturing, healthcare, technology, services, non-profits, retail/e-commerce, travel, food, and beverage.
• Won at least 5 prominent awards including 3 Editor’s Choice Awards, Best App by PC Magazine, and Best Cloud ERP by the CODiE Awards.
• Recognized as a Visionary in Gartner’s Magic Quadrant for Cloud Core Financial Management Suites.
• Released Vertical Editions including Manufacturing Edition, Commerce Edition, Field Service Edition, Distribution Management, and Construction Edition (in January 2018).
• Added 61 new VARs bringing their total number of partners to over 400 in North America, Western Europe, Asia Pacific, and Latin America.
• Added 67 new ISVs bringing the total number of ISVs working with Acumatica to over 130.
• Achieved 144% new revenue growth.
• Delivered 99.999% (yes that’s five 9’s) uptime.
• Averaged 100 million transactions per month.
• Reported 0 security and crypto-ransom issues.
• Achieved a 21+ Net Promoter Score

A Sneak Peek at what’s to come

During the opening Keynote, Jon Roskill reiterated Acumatica’s commitment to continually improve their platform and products, support partners, and provide customers with a true Cloud ERP solution that will grow and adapt to their individual needs.  There were a number of demonstrations throughout the Summit which exemplified their ability to continually add and enhance the Acumatica products with technologically advanced features. They highlighted some of the recently added features in Acumatica 2017 R2 and introduced some upcoming features in Acumatica 2018 R1.

Acumatica 2018 R1

Attendees at the Summit were the first to witness the increased usability and data insight capabilities of the upcoming Acumatica 2018 R1 (available March 2018).

Demonstrations of updates included:

1. For the Financial Suite, inter-company accounting for multifaceted organizations is available, simplifying the process of differentiating companies from their branches and departments. Moreover, there are new capabilities to split transactions during the reclassification process and improvements to its revenue recognition engine, adding elements needed to support ASC 606 standards.
2. The Sales, Inventory, and Distribution capabilities now include one-click order processing, real-time integrations to popular point-of-sale systems, and an integrated Acumatica Device Hub solution ideal for high-volume fulfillment operations needing to interact with high-speed printers, CUBA scanners, scales, and other automation devices.
3. For the Field Service suite, advanced capabilities were added including real-time GPS tracking of vehicles, improved tracking of equipment and component warranties, and optimized workflows to support complex service contract life-cycle scenarios.
4. In the Customer Management suite, Acumatica 2018 R1 now supports multiple quotations for opportunities, real-time Salesforce integration using the latest streaming API technologies, and enhanced workflow embedding back-office operations seamlessly to CRM for optimal user experience.

During the presentation, Chief Product Officer Ali Jani said, “Customers are challenging us to constantly innovate and extend our offerings as a way to maximize their business success.  Acumatica 2018 R1 meets this challenge with substantive new capabilities that enable customers to accelerate their business growth.”

Overall, our team had a great time in Nashville! The future certainly looks bright and we couldn’t be happier to partner with Acumatica in 2018 and beyond.

Contact us today if you’re ready to accelerate your business with Acumatica – the only Cloud ERP designed for mid-sized customers.