G2 Crowd, a leader in the world of reviews maintains a running total of user experience and functionality reviews from real, vetted, verified users who have had hands-on experience with the software. While much of the hype is focused on market size and satisfaction, a less celebrated but possibly more important question that the report asks is “does the software work?”
While many platforms will tout high levels of user satisfaction, many of those platforms with the highest levels of customer satisfaction are also the ones that companies “outgrow” on their way to larger scale, fully functional accounting and financial management functionality. Today, we would like to look at the other side of these reports, the feature comparison.
Feature Comparison: Who Stacks Up to the Competition in the Latest G2 Crowd Grid®?
In the latest G2 Crowd Grid® for accounting software, the website analyzed a wide range of available options to present an honest look at customer experiences, comparing 21 vendors for their ability to deliver and provide innovative accounting software. As defined by G2 Crowd, accounting software helps businesses streamline and automate finance management processes.
Accounting software products, often considered part of a larger ERP suite (i.e. the financial management module in Acumatica), vary in complexity and the features offered; many products are optimized for use by companies of a certain size, such as enterprise-level businesses or SMBs (small to medium sized businesses).
In addition to the general overview of Satisfaction and Market Presence (see methodology here), the report allows users to provide granular detail on their experience with the unique functionality across the core finance features that exist. As we’ve been discussing the key functionality that exists in financial management software (Accounts Payable, Cash Management, Accounts Receivable with more to come), we would like to look at how Acumatica stacks up in the G2 Crowd Grid® Report.
How Acumatica Stacks Up: A Look at Various Features
The G2 Crowd Grid® for Accounting software digs into many different functions: General Ledger, Accounts Receivable, Accounts Payable, Inventory, Reporting and Analytics, Integration, and Platform, as well as an ROI analysis.
The center of any financial management application, an effective general ledger needs to track all financial transactions and is used to generate the company’s financial statements, including the Income Statement and Balance Sheet. G2 Crowd evaluates general ledger by a software’s ability to handle journal entries, easily tag transactions, and provide a measurable audit trail. So how did Acumatica do? Well above average, according to customers.
- Second highest satisfaction for Journal Entries with 90%.
- 86% of customers were content with the ability to tag transactions and add dimensions.
- 87% believed that the ability to create an audit trail was ahead of its class.
Doing Accounts Receivable right appears to be a challenge for many vendors. With some of the lowest average ratings among all features in the software, Acumatica stood out as a true leader in this respect. G2 Crowd respondents lauded Acumatica for its invoice capabilities (91%, tied for number one), AR automation (88%, tied for number one), and collections automation (86%, second overall).
We’ve discussed the importance of Accounts Payable functionality and its roles in capturing discounts, improving relationships, and saving time. With such high priority on this functionality placed among buyers, Acumatica once again stands out—well above average in all respects. From their AP automation capabilities receiving an above average 84% satisfaction to their top three positioning for Payment Processing and Purchase Orders at 87% and 88% satisfaction respectively, Acumatica provides high levels of customer satisfaction.
Knowing when to order, what to order, and what you have on hand to satisfy customers is critical to any business. Inventory management isn’t easy, and the right solution is often hard to find. Luckily, Acumatica was built for distributors, manufacturers, ecommerce brands and other product-focused companies—dominating this field.
Acumatica was the clear satisfaction leader for all inventory functions in the report, receiving 90%, 93%, and 88% satisfaction for Inventory tracking/ordering, pricing/costing, and reporting respectively.
Additional Functionality: Reporting, Integration, and More
The report looks at many more features that accounting and financial management software should be able to provide, with Acumatica receiving high praise or top ratings for a variety of functionality:
- Tied for number one in multi-entity/consolidation.
- Leads customer ratings for its time and expense functionality—by a wide margin.
- Received well-above average reviews for financial statement reporting and custom reporting.
- Ranked highly across all facets of the “Platform” category, with notable leadership in ‘performance and reliability’ and ‘output document generation’ at 90% and 91% satisfaction, respectively.
- Celebrated for integration capabilities, receiving praise for data import and export tools (87%), integration APIs (88%), and its innovative network of partners who received an 88% satisfaction rating.
Acumatica: A High Performer in the G2 Crowd Accounting Grid® for Fall 2018
Acumatica has been named a High Performer based on receiving a high customer Satisfaction score and having a small Market Presence. 87% of users rated it 4 or 5 stars, 93% of users believe it is headed in the right direction, and users said they would be likely to recommend Acumatica at a rate of 86%. Acumatica is also a leader in the ERP Systems and high performer in Project-Based ERP categories.
We invite you to learn more about the company’s success in delivering financial management functionality for customers, read the entire report here, get to know more about the importance of integration from our last blog, and contact us to learn more.