Tester Construction Group

Gained real-time data and data visibility with open APIs
Accomplished seamless integration with other systems, enabling real-time information within Acumatica
Attained compliance to ensure faster invoicing and subcontractor payments
Built job costing and controls for the way the company runs its construction business
Obtained more accurate cost allocations and visibility into overall costs within projects and by period
Increased automation
Quote to cash cycle visibility and cycle time improvements of three to five days
Achieved the ability to close period-end of financial books much faster
Accessed the ability to scale the company beyond $100 million more quickly because of the financial visibility and available real-time information

"Acumatica's job costing abilities and controls, along with the ability to provide flexibility of modules to us as we grew, were huge selling aspects for us."

Jay Feinman, CFO

Challenges

ERP Solution

Outcome

Challenges

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Tester Construction Group (TCG) is a general contractor specializing in mixed-use multifamily residential projects. Located in Philadelphia, Pennsylvania, the company has approximately 40 full-time employees. The company realized it could not continue to operate on the software that supported its existing accounting system for several reasons: a lack of visibility into financial data, little aggregation of data and reporting capabilities, limited financial transparency of job costing, and insufficient manual processes. As the company grew, it needed more construction project management capabilities, including real-time job costing capabilities, improved cash management capabilities, visibility into all data, automation, and integration into other organizational systems.

The biggest hurdles for TCG were making sure its historical data successfully transferred to Acumatica and verifying that it could use that data as a baseline. TCG hired an individual for two months to ensure that the data was successfully extracted from its previous system and audited and to ensure the data could be successfully transferred to Acumatica.

In addition, TCG was new to a cloud product that could be quickly integrated with real-time information and open APIs. Testing this new functionality was critical as the company was moving from a hosted environment, with connectors that had to be hooked up every time TCG wanted to check that approvals were made. Once that was done, the company could move forward with that information to start the financial processes.

ERP Solution

TCG reviewed several small and midmarket financial technology systems before deciding upon Acumatica as its solution. Critical to the selection process was the ability to have real-time data, seamless integration with its three other systems, automation, and more traceability and compliance. When the team from TCG reviewed the Acumatica product, it found the solution to be geared toward the construction industry and to offer real-time data capabilities and full visibility into that data, all enabled by open APIs.

Jay Feinman, TCG’s CFO, noted, “Acumatica’s job costing abilities and controls, along with the ability to provide flexibility of modules to us as we grew, were huge selling aspects for us.”TCG also found that Acumatica made the buying process easy and that the purchase price was in line with the company’s budget. After reviewing Acumatica in spring 2021, TCG completed the purchase in June, began implementation quickly thereafter in August, and was live with the solution in October.

Outcome

TCG moved to Acumatica with finance leading the activities, particularly around subcontractor commitments, purchase orders, invoice processing, job costs, compliance, and budgets. Integrating these business process components into TCG’s construction approval process was critical to ensuring the success of the Acumatica implementation. TCG can now route approvals, send notification of invoices to project management, and approve and release invoices into the GL quickly. It is a huge win for TCG to have the real-time financial and job cost information provided by Acumatica.

As the implementation was completed, TCG was able to observe what was going on with its business overall. The company could quickly see its revenue based on project completion, including all costs, estimates, and percentage completed by project and period. These critical aspects to the business improved TCG’s overall cash management program because the company could account for the real-time costs earlier and increase its cash management time to value.

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