Power Storage Solutions was using six different operating systems before its founder Derrick discovered Acumatica’s financial management software, CRM software, and field service management software. “We had CRM with Salesforce, quoting managed through Salesforce CPQ, time managed through Workday, expenses managed through Concur, inventory and service management through Davisware; it all sat on an Oracle E1 platform,” he explains. But now, he never wants to go back to the old systems again.
Look At the Numbers
Derrick, Terry Cummings, and Steve Baker bought Interstate Batteries’ power storage division, Interstate PowerCare, in 2018 when Interstate Batteries spun off three of its divisions. Under the new name Power Storage Solutions the company operates in Dallas, Houston, Detroit, and Florida and offers DC-power backup systems for Data Centers, Telecommunications, Utilities, and Petrochemical companies.
The Power Storage team knew they wanted an all-in-one operating system with a strong accounting foundation, the ability to seamlessly layer other critical functions, and all-round and any time access. They were convinced such a system didn’t exist until they were introduced to Acumatica cloud ERP. “We were shocked,” Derrick says. Acumatica was perfect in terms of affordability, mobility, and functionality. “What really threw us over the top with Acumatica is that it offered a full quote-to-cash cycle and it overlaid on top of our accounting system. Acumatica offered a service package, purchasing, inventory, a Client Relationship Management (CRM), quoting cycles, manages projects and manages sales orders—all right there in one Operating System.”
They implemented Acumatica Financial Management, Acumatica Customer Management, and Acumatica Intercompany Accounting. In addition to experiencing fast implementation within 60 days, it only took 5 people and about $200,000. Derrick illustrates: “In 60 days, we went from nothing in Acumatica to launching a $24 million company with 20,000 parts, 5,000 customers and having sales orders, projects, inventory, payables, receivables, and going live.” In comparison, when Salesforce launched at Interstate Batteries, it took 15 people, $1.5 million, and 9 months to get it running. When Power Storage’s controller, Ryan Penton, implemented NetSuite in his prior mid-sized company it required 6 months, 20 people, and approximately $500,000. Numbers don’t lie.
“Once we launched, it was amazing,” Derrick says. “During the first month we billed $1.7 million straight out of Acumatica and closed the month in 45 days. In January, it only took 30 days to close, February 15 days, and March was 5 days.” He also estimates that Power Storage saved a minimum of $40,000 a month by eliminating wasted time and revenue caused by communicating between unrelated systems. Acumatica’s cloud ERP has a few clear key benefits:
- Improved communication allowing for better, data-driven decisions
- Reduced project feedback loop, improving scheduling, quoting, and higher gross profits
- Reduced month-end closing
- Increased communication efficiency through software integration and customized dashboards
Customizable and Understandable Solutions
Acumatica provided Power Storage with resources for success and the company is even planning to implement Acumatica Field Service Edition. More than anything, Derrick highly praises the all-inclusiveness of Acumatica cloud ERP. “I’m not overselling the importance of it. People underestimate how important it is to have one system you can modify to what you want to do compared to having piecemeal programs that do one thing special.” He thinks he wouldn’t even be welcome in his own company anymore if he would ever contemplate going back to the strategy of using a combination of “best-in-class” solutions from companies like Concur, Workday, and Salesforce.
The customer success story of Power Storage is a detailed one, providing more and more benefits to choosing Acumatica’s cloud ERP software. For more information please do not hesitate to contact Advanced Solutions and Consulting, your best ERP partner today.