Very poor performance on SQL 2012 and Hyper V

Hi,

I'm running Sage 2014 PU3 on a very decent DELL Poweredge R720 server with Hyper V, Windows Server 2012 R2 and SQL Standard 2012 SP2. (going to install SP3)

I have created 2 VMs, one on which I've installed Accpac and it runs the terminal server for approx. 25 users as well, The other runs jus SQL.

I've given the SQL server 64GB dynamic RAM, database size is 45GB.
Terminal server with Accpac got dynamic RAM as well with a minimum of 12GB.

Both VMs are on the same host, which does not run anything else.
They use the same virtual switch in Hyper V. The switch is not shared with the host.

I used to have SQL and Accpac installed on the same VM, but have seperated them after an upgrade.
Reports such as IC Item Valuation (no datapipe) or processes like IC Item Number Change or data integrity now run significantly slower when compared to having just 1 VM.
Often the report takes at least twice the time to finish.

I ran the script for the SQL wait statistics http://www.sqlskills.com/blogs/paul/wait-statistics-or-please-tell-me-where-it-hurts/
and get below 2 lines returned.
94% of my waits are Network I/O.

My NIC drivers are up to date.
I used to have an issue with VMQ and Broadcom NICs as explained here> https://www.reddit.com/r/sysadmin/comments/2k7jn5/after_2_years_i_have_finally_solved_my_slow/

After NIC driver update this was however resolved.

I'm curious whether any of you have Accpac setup in a similar way and could advise whether their wait statistics show a high network I/O wait also.
Am also keen to know what else I can try to lower the wait time or is it just poor programming of of the client (Accpac) as explained here?
https://sqltimes.wordpress.com/2013/08/05/sql-server-wait-types-async_network_io/