Welcome everybody to the webinar about Professional Services Edition. I am Stacy writes. You're Mark, the moderator for this webinar today and I will be assisting you in the back background. So if you happen to have any questions, please submit your questions through the Q&A box. And if you would like to learn more about today's topic, I encourage you to check out the resources that are located in the resource box. We have a lot of things to talk to you about today and at the end of the session, we will be answering your burning questions about Professional Services Edition. So again, we encourage you to submit your questions through the Q&A box. And with that said, I'll pass it off to Lauren O'Hara. Welcome, Lauren. Oh, oops, sorry about that. Hi, Thanks, Stacy. Welcome, everyone. We're really excited to have you here. I'm just going to dive in so you can see the agenda on the screen. I want to make sure you are clear on what we're going to cover here. So I want to talk a little bit about the professional service industry and the needs that you see, which I'm sure you're all very well aware of. And then we want to talk a little bit about the market segments that are really the big targets of Acumatica Professional Services Edition and then how Acumatica supports those segments. So we'll be talking about that. You know your company is likely a professional services company and you have very specific project based needs. So we all want to see ourselves in this and we want to make sure that know how well Acumatica supports you. All right, so before I do that, I want to give you a little bit of background about Acumatica as a whole. So among the ERP competitors, the major ones, Acumatica is the only ERP company born in this century. So that really gives us a fresh and unique view of how modern business solutions can help solve problems and address your pain points. So at its inception, the company made some really bold bets. So first, Acumatica focused on catering to the needs of small and mid sized businesses. Second, our channel model relies on partner expertise, which really frees up Acumatica for investments in product development and innovation. And 3rd, we focus on the cloud. So other ERP vendors started earlier in the 90s or even earlier than that and are now burdened with, you know, outdated technology and systems and we are not. All right. I love this slide. So Acumatica, as I mentioned, focuses on small and mid sized businesses. So SMBs are really the heart of the digital economy and you probably know that very well. There are 32,000,000 SM BS in the US. So that generates 2/3 of new jobs and accounts for more than 43% of the GDPSM. BS also really lead the way in innovation and are 50% more effective and more likely to get patents than larger corporations. So, you know, since Acumatica is a mid market company itself, we understand SM BS and the challenges that you face. All right now this slide is all about, you know, the way that Acumatica has intentionally developed the applications and features and capabilities that you need most. So the natural language capabilities help in remote access to information across geographies, AI and automation. So we give you the ability for AP document recognition, sorry, enable you enable you to with the automatic entry of document content, eliminating manual entry in the forms you know, eliminating that manual entry can really save time all across the board. All right, So the unique licensing model is really unique differentiator for Acumatica. So we focus on having more users in the system, you know, not less. So this limited unlimited sorry consumption based licensing system really includes not only all of your employees, but also external consultants and customers. So that really gives you a lot more flexibility. It's great for growing businesses that don't want to worry about being penalized or charged for adding users and customers don't want to be locked into one deployment option forever, right? So you should have the right to choose where to deploy your system now and into the future. And then finally, my last point on this slide is that Acumatic is the only ERP vendor that not only offers those flexible options between public and private cloud, but also allows you to switch as your business needs change. All right, now back to the professional services industry. So these are the kind of at its core, the basic needs for the professional services industry. So you know, you want to start with the financial management those that's really the first building block for all the other pieces. And you know what you're looking for should be able to integrate with many other components that you need and you know, it should have a straightforward multi company and multi entity functionality and many do nots. So make sure you look for that strong project accounting features are an absolute requirement for professional services firms. For the for those of you in the market, you want to make sure that your project accounting solution has a really flexible billing. So you need to have hourly fixed fee milestone based time and materials. For example, time and expense collection. Another requirement, not easy for if it's not easy for people in the field to enter their time and their expenses, that really puts a much more big, more, much more burden on your office staff. Project management and resource planning gives office teams full visibility into your project's progress, where materials are and people are scheduled and how that really impacts the project budget. And then finally, the reporting capabilities. This is kind of really another one of those key backbones to kind of like along the lines of the financial management. It really ties into everything, right? You want to be able to have real time reporting. Real time project reporting and how the system handles WIP reporting is another really big reporting key for professional services firms. All right. So when we released Acumatica Professional Services Edition in Q4 of 2024, we looked at our existing customer base to understand where Acumatica is already successful. And while it wasn't a shock to us, the data confirmed that a significant portion of our professional services customers primarily fell into the AEC. So architecture, engineering and construction segments. And you know, the C of the AAC is already a very well established market for us and we have a vibrant community of construction customers. And you know, but the exciting thing is we have many of the A and the E of the AAC, so many architects, engineers, we have consultants, we have technology and security and media firms. And those are all really great examples of professional services customers that we have already. Right here on the right side of your screen that just popped up, you will see 6 examples of existing customer stories that are examples of our professional services customers. So if you haven't seen those, make sure you go out and check them out. They're on our website and many of them are videos and really engaging stories. OK, so the Acumatica Professional Services Edition. So how does Acumatica support these needs? So project planning supports proposals within our CRM, which allows you to track throughout the project life cycle our powerful reporting. As I mentioned, the reporting, how important that is, really gives users project analytics and budget forecasting projects. So project management will give you, you know, automated workflows, you know, really seamless flow of information from the field in the office financials. That key backbone is going to support your cash management, revenue recognition, flexible milestone billing and payments, the services. So you want to be able to manage contracts and appointments, ensure that you know the compliance is in order with seamless document management. That's a really big key. The document management give clients a self-service portal for support cases and other project information. I mean that's really empowering for your clients as well. And then on top of it all, you know, this is a powerful resource management tool that comes from project manager and that's going to really enable that that flow of data between Acumatic and project manager and with time and expense management and scheduling. All right, I think it is time for me to hand it off to Stacy. That's all I have to say. Excellent. Great. Thank you very much, Lauren. My pleasure to. Share my screen here. If I could just get a verbal that my my screen is up on the screen and everyone's good. Looks awesome, yes. Excellent. Super. All right. Well, thank you again, Lauren. No, but you're so on point, you know about the things that you mentioned, the specific needs for those companies that are in the professional services arena. And So what I'd like to do now is go ahead and just take you guys on a high level overview of the Acumatica Professional Services edition, speak to the integration with project manager and basically just highlight what our our ERP offering is. So let's go ahead and start start things off. Acumatica is a role based system and so when you log into Acumatica as the user, your logins going to bring you to a home dashboard that's going to be relevant to your role in the things that you do. And when we think about, you know, the life cycle of a particular customer, a client or project, sometimes it starts off in the marketing area, whether or not it was a lead that came in or what not. So I'm going to take you here as a as a starting point here. And you can see that if I was the marketing manager, maybe I would want to have some metrics on my dashboard letting me know what I have for feeds, what, what's my percentage of that turn into opportunities. Once those are qualified, what, what do we have for a win ratio? Things like that, things that maybe you're being measured on throughout in your role. So here's an example of a marketing manager dashboard, which would give you highlight into some of these types of information. They're drillable. You can click on anything and go in and and see the list of leads or the list of opportunities. So let's go ahead into the marketing space itself and I'm going to go ahead and open up the leads area. Here you can see the I have a whole list of leads and this is just basically, I mean, this could be signed to different people within the company who owns individual leads. You could see here that you know, where did we get this information? Was it a referral? Was it from one of our campaigns? Did we purchase the lead? Did we, you know, how did we, how did we earn that? And you can certainly manage the leads by doing those marketing campaigns. You can do mass emails, you could purchase a leads list, but regardless of how those leads are get fed into Acumatica, you're then going to start managing them. So now if we look at a lead itself, this is the lead space, this workspace that you see here, it's going to be prevalent really throughout Acumatica. This is what it looks like in the opportunity space, in the project space and the customers and the vendors. So you're going to see here, it's just kind of a, you're going to have these tabs across the middle. It's super easy to navigate and find the information that you're looking for. So in the lead space here, I can see that William Conway and I'm going to start my activities with him. I'm going to reach out to him. I'm going to, maybe I'm going to send him an e-mail, maybe I'm going to make a phone call and I can go ahead and I can log that activity. Then I'm going to have a historical list of the things that I've done, the conversations that I've had, any notes that I've taken. I can also certainly add notes up here, attach any files if there's any type of information that I received on them. What campaigns has William been part of? Did I send? Was he part of any type of list? When we want to send out a campaign specific to a certain industry or a certain type of work or whatnot, again, you can narrow all of this down. All of our marketing gurus understand how to manage all of this great information. But once you qualify that lead, you've had that conversation and you know that they're going to be somebody you want to explore a little bit further, you've qualified them, you're going to go ahead and convert them to an opportunity. Once we get into the opportunity or you can disqualify them, right? Maybe there was somebody that just put their name in the box because they wanted to be drawn for a free cruise, right? You never know. So let's go ahead over here into the opportunity space now that this has been kicked off and now it's in as it's an opportunity. Now I'm going to continue to work on that lead here. See, you can see in the opportunity space that same look and feel. We're going to have those tabs across the middle. Again, we're going to manage those activities, those emails, those appointments, those phone calls, whatever it is that we want to keep track of here. But what's going to happen here in this space now is that we're going to be able to generate a quote and we're going to start working that quote. You can have multiple versions of quotes, right? You start one off and then they said that's beyond our scope. We need to scale back or we want to change this or we want to change that. We copy the quote, make it a second version, make those changes. Now we have a history of what we've talked about, the things that the client liked and didn't like. And Mark, of course, which one is primary, the one that we're working on today. So I can go ahead and once we've won this particular opportunity and it's going to kick off a project, I can mark it as A1A1A win, right? And this is going to feed to those metrics back on my dashboard, right, those percentage of wins. But here in the quote space, if let's go ahead and I'll open that up for you as well. And you can see here that I've kind of got some of my estimation information. I'm expecting that this project's going to take 80 hours at this level and the the senior level, the junior level and the project manager. This can contain materials, contain subcontracts, whatever it might be. But this is kind of my estimate. This is my estimation of the project. And then again, if I want to assign any tasks, I'm going to break down the project by tasks and we're going to break down, you know, the cost and the revenue as well. And that'll I'll speak to you over in the project space of course. But again, activities, I'm going to log in the activities as it relates to that particular quote. But once that quote has been submitted and it has been awarded, they liked it, they have, they're happy with it. After that, once we submit it and it's been approved, we then have the ability to convert that to a project that's now going to kick off the project over in the project side one, we didn't have to double enter, right? That's all the information said right over there for us. And now your project manager, whomever gets assigned to that project is now going to be alerted. But there's a project in their responsibility and that's going to go ahead and feed into their dashboard, right? So here's another example of a, a project manager dashboard. And so this might be, I'm an individual user and these are just the projects that are assigned to me. These could be all the projects. You have the ability to manage the data that everyone's going to see. You're going to make sure that they're not. You don't want some people to see the profitability of a project, then you can turn that that particular area of the system off. But you're going to manage the security what you have access to. Am I able to see other people's projects, just my projects? What am I able to get into view? What can I change all of that? That's all going to be role based as well. So here the project manager space, like I said, you could see my list of active projects. Am I under utilizing some of my employees that maybe are an engineer, but they're doing lower level work right now And maybe I want to start, you know, looking for better places. These are my individual tasks that have been signed to me within the company. What's great about Accumatica because it's an ERP, a cloud based ERP, right? You can access it anywhere and it's that information, it's that collaboration. It's the field to office in the office to field. Everybody's going to be working with the same data all of the time. And so if I update something in the field, I'm aware of it back in the back in the office. If I'm in the office, I don't have to wait for the project manager to come in on Friday to have a meeting to catch me up on what's going on. He's entering data into the system, into the out in the field. That's going to be updating my metrics as well. So that's obviously the value, one of the big values of that cloud based ERP, but to have that good flow of information. So let's go ahead and come into the projects, the professional services space. And you can see here that I, you know, of course we're going to set up all of our preferences and you know, if we have any specific rates, if we're working with unions, some of our workmen's comp codes, there's going to be that general setup. But then after that, we're going to work on those projects. So now our project is kicked off. It's, it's running, it's in the system. Here's a list of all of my projects. I'm going to go into project #7 this is an engineering project. And let's go ahead and dive into some of those specifics there. Again, I talked about that look and feel right here we are right across the center, all my tabs. Again, a one stop shop. It's going to give you all the information that you need. And not only is it going to serve you as the project manager, but it's also going to serve the folks that are in the accounting space. It's going to go ahead and you know, the owner of the company wants to know something and they come along. They can go right into the hub, the project hub as well and see that information. So you can see here, let's go ahead and start at the the summary tab here in the project tub. And this is where I'm going to go ahead and decide do I want to track my revenue by task, by task and cost code by task cost coded item. You have the ability to drill down to whatever granular level you want to see in terms of keeping track of budgeting it at the revenue level, but then tracking all of your costs at the cost level. So those don't have to be the same, but you're going to be able to pick what method you want. You're going to have an anticipated start date and end date. Of course, we know things always change. That's OK. Who is the project manager that I'm assigning the job to? Am I going to allow change orders on this particular job? Do I want to restrict any employees or any equipment so that it can only be allocated to this job and not used anywhere else? Is this a union or a government job where I have to do some certified reports or people have to be paid a certain wage? Acumatica can handle all of that within its system as well. Billing on the job, right? We've got that milestone billing, we've got progress billing, percentage of completion. We're going to make sure that whatever you use for billing rules, those rules are set up in the system so that you can build a project as needed. And then there's some other information here too as well. Sometimes people are working with projects that require AIA billing and some of that reporting. So that's built within Acumatica as well. And if there's sometimes there's retainage or hold back, we've got the ability to handle that percentage as well by feeding that here onto the summary page. I come into the tasks. So this is my, all of the tasks that I've decided to break my project down into where I want to record the data. So you can see here that I've got all of my individual tasks and then the description I've got anticipated start dates and end dates. Here's my revenue overview. Maybe I'm billing this again, like percentage of completion or milestones, 30% due upon signing the contract, 40% after design development, and 30% after completion. I could go ahead and build those amounts on the total job or I could build out the job by line item and then my cost budget. I've got that broken down by all of the different tasks that we need to do, how many hours I expect it to take and what those billing rates are. I'm going to jump over the balances tab real quick. These are project manager related tabs that are going to integrate with the project manager software, so I'm going to skip those as well. I'm going to come into commitments. Commitments is where we're going to handle the purchase orders and the subcontracts that we are that we're assigning as it relates to this project and make sure that our our contractors and our suppliers and our vendors know about the items that we need in it. I talked about this serving other roles, other people within the company see that if I'm an accounting and I want to know, geez, have we finished this? And in terms of cash flow, look, we haven't this subcontract agreement with a A services $9600, it still hasn't been placed. So I know in terms of cash flow that I'm going to have that obligation coming down the Pike at some point as a project manager. I want to know have they come and finished the job? No, you can see we haven't completed it yet. So there's some insight there as the things that are going on. Have I invoiced did last Friday, did Stacy do that invoice on that job? Project manager's out today. Maybe he's on vacation. Somebody comes along and asks the question, will you come right into the hub here and you can see but I didn't fact I did not do the invoice on Friday. Change orders. Something's going on out in the field and you want to kick off something maybe one of the other Subs damage something on the job. Maybe there's something the customer wants to change that the scope of the project, you can create this field and you could go ahead. So again, that office to field, field to office, collaboration with those subcontractors, compliance certificates of insurance, we can make sure that all of the insurance documents are up to date and are not expired here in within each project. I've got a notification here that a, A services is expired, so I can reach out to them and say I need a new certificate of insurance or you're not going to get payment on that last invoice. And the last tab there is the balances tab. And that balances tab here just as like is basically a mini PNL for the project. And that's going to show you your revenue and your expenses, what your budget is, what your potential change orders are, and then of course, actual expenses and looking at that profitability now right here in the center, this is that link to the project manager space with Professional Services edition. You also get an integration with Project Manager. Click on that link and you come over and log in. And I was in project #7 the engineering project, and it brought me straight into Project Manager. Now where you can see, here's a list of my tasks, my start date, and I can are going. I can very easily drag and drop and change things. As you can see, my dates changing here, it's 129. If I bring it up here and move it up now it's 123. Obviously, things happen. It pushes things back, which is going to push other things, you know, further in the project back. So we can go ahead and we can be dragging these items and handle the scheduling that way. This year is my individual projects. I can also manage my team here on this particular overview. And you can see here that I have Jennifer Jones scheduled for 48 hours worth of work on Thursday on a Thursday in December. Well, obviously I need to change that and I need to move some of that those tasks. Same thing happened here. I've got 12 hours scheduled for Mike Smith, but this is a great way to view your team and make sure that everybody is allocated to jobs and that they can get their jobs done. You can look at this information in a variety of different ways. We've got the SCAMP view, we've got a board, the Kanban board, we've got a list. You can see a sheet. You can look at a particular dashboard on ACT and then of course, you know, manage your team as a whole. I can see that Jennifer Jones has a lot of tasks here, but Cindy doesn't have anything going on. Why don't I take something away from Jennifer and move it up here over to Cindy and I can do that. I could take this item, drag it right over and now assign it to Cindy. So there's another way to manage your team and those resources. So Acumatica integrates with Project Manager the data that's going to, you're going to pick where that data is going to start and be the source and then it's going to go back and forth. So like I said, Project Manager has a lot of great tools and that integrate back to Acumatica and populate the information. So hopefully, you know, you were able to see here that Acumatica can check all the boxes in terms of all of the different areas, whether you're in planning, sales and marketing, whether you're in as a project manager or coming back to the finance space and running those reports, paying those bills, processing the labor through payroll. But everything is in one system, and it's one source. Truth. Very nicely done, Stacy. Thank you. That was fantastic. High level overview of Professional Services Edition. I wanted to ask a couple of questions. I actually have some that the audience has have put in and then I wanted to ask you a few that are just kind of like FAQs that I get that we hear a lot about Professional Services Edition. Is that all right? Yeah, that's great. OK. So how often does the data sync between the office and the field? Yeah. So you manage that, you're going to be able to set that up and decide. So right here there's a, there's a process called process project manager entities and these entities basically that, that IT, you know, integration between the two. So who is going to be the primary source of information? I want Acumatica to kick off the project and I wanted to populate project manager. But now as dates change and tasks change, I want project manager to be the source of information and I want that data to update back to Acumatica. So you have the opportunity to decide who's going to be the primary system, what direction that data is going to flow. And then this can be run daily, it can be run hourly, it can be put on a schedule. If I go in and make a change to one system, but I I need the information to be updated, I can come over here, check the box, process all the features and it'll do a quick sync. But otherwise you can rely on an automated schedule as often as you want it to run. That's amazing. That sounds so wonderfully flexible. I love it. So what if? What if our prospects or our customers wanted to add other modules or features that are not already included in the Professional Services Edition? Yeah. So the professional Services edition is kind of like, you know, picking a boxes and then if you want to add additional modules, you're able to do that. So right here in my demo database, I have all of these turned on for demo purposes. But in your particular case, you can have as few or as many as you want. So if you have, you know, a need for you want to sync with your bank and you want to add the bank feeds integration, you can do that. You want to add payroll, you can do that. Order me management, you can do that. So you're able to build and add on modules to to fit the scope of what your company needs. Very nice, very nice. That's definitely one of those great differentiators, right between Acumatica and our competitors with that modular architecture. Can you talk a little bit more about the different ways that you can build projects in Acumatica? Just buy the piece of feed. Yeah. Over in Acumatica, when you pick off a new project in the Project Hub, take it. You can kick it off manually just by hitting this plus and going ahead and creating the new project yourself. When you do that, you'd have a lot of data potentially to enter. However, we do have templates. So if you have, you know, 3 or 4 core base kind of projects that you folks do, you could go ahead and have those projects set up so that it brings in that baseline. Those brings in all the tasks you know, and all of the base hours. And then you'll be able to tweak those and make it specific to your project. So the first way is to do it manually. The second way is to go ahead and use a template. The third way, would we bring it over from the quote space and have it populate there? Or if you are using an outside estimating tool, or even if you're just using Excel, you always have the option when you come into the revenue budget, cost budget or the task space and you can go ahead and you can just upload that directly from a third party or from Excel, from CSV file. Nice. All right, I know we have a few more questions, but we are running out of time and I have been told that we need to wrap it up. So, Stacy writes. I'm going to hand it back over to you. All right, thank you everyone for attending this webinar. If you haven't already done so, please check out the resources that are located in the resource list. And if you happen to want to learn more about the product, feel free to submit a demo request. We'd be more than happy to connect with you. And with that said, everyone have a great rest of your day. Take care. Thank you. _1745282823482