Acumatica ERP software is receiving some exciting new features as part of its 2023 R2 update. These are as follows:
Intelligent Technologies
Acumatica ERP software has always prioritized making robust technology accessible to both small and mid-market businesses, and the brand is continuing that long-running tradition with its 2023 R2 update.
As part of the latest round of improvements, Acumatica is expanding the intelligence technology offerings of its business management platform. The modular platform includes open APIs to accelerate integration processes and native mobility, along with machine learning (ML) and artificial intelligence (AI) technologies.
These additions will help business leaders accomplish the following:
- Facilitate remote and hybrid work
- Increase mobile device compatibility
- Save time via custom field elements
- Accelerate bank reconciliation processes
- Tailor workflows to specific order types
In terms of AI and ML functionality, the incoming update will empower business leaders to add branches and locations to the platform’s document recognition software. What’s more, Acumatica ERP software can now support complex language recognition processes.
Businesses can put these new tools to use to accelerate text completion processes and reduce their reliance on manual inputs. The revamped Acumatica solution can make recommendations based on previous text entries, automatically complete erroneous or incomplete documents, and drastically decrease the burden on employees.
Major App Updates
Acumatica is also making some significant updates to its Unified Finance and customer relationship management (CRM) applications.
The Unified Finance module is already a best-in-class financial management tool, but the latest update will make it even more powerful. Specifically, Acumatica is refining the user interface (UI) to make Unified Finance even more small-business-friendly while still being dynamic and scalable enough to meet the needs of large businesses.
These changes will allow businesses to do things such as:
- Accelerate cash flow and streamline payment processes
- Integrate CRM and payment processing systems to remove friction from the customer experience
- Maintain a state of reporting compliance
- Calculate overtime and other variable expenses to optimize financial visibility
- Simplify tax reporting in the U.S. and Canada
Acumatica’s CRM apps are also receiving several refinements that will work to do the following:
- Help reps close more deals
- Automate lead assignments to ensure prospects don’t slip out of the sales funnel
- Balance workloads by sales territories
- Improve customer satisfaction by expediting returns processing
- Automatically create return orders and link them to the relevant CRM files
- Enhance contact data security
- Instantly import contacts, opportunities, and leads via a Gmail add-on
Both the CRM and Unified Finance apps have and will remain foundational components of Acumatica’s ERP software, and these updates indicate that Acumatica is committed to continuously improving these modules so that they can always deliver optimal value to their clients.
Tailored Industry Capabilities
If you want to thrive within your vertical, you need industry-specific tools and functionalities. Acumatica ERP already offers purpose-built modules for manufacturing, distribution, field service, restaurant supply, and several other key industries, but the 2023 R2 update will expand the capabilities of modules for retailers, manufacturers, and service organizations.
The new features and benefits for retailers, commerce merchants, and distributors include the following:
- Improved transparency and profitability
- Margin estimation capabilities
- Mass stock allocation tools
- Automatic line discount exclusion tools
- Connectivity with Amazon’s Seller Central marketplace
- Integrations with Shopify’s B2B e-commerce platform
For manufacturers, key benefits and features are as follows:
- Improved cost control capabilities
- Streamlined implementation of cost control rules
- Simplified production order ticket printing
- Expanded functionality of the Product Configurator
Lastly, the contractors and service organizations module will receive new features and benefits such as:
- Improved navigational menus
- A cost code deactivation tool
- Increased editing capabilities for end users
- Better accounts receivable review tools to maximize cash flow and recapture lost revenue
Once again, Acumatica is poised to deliver for its expansive user base by providing practical yet powerful new features and functionalities.
What These Updates Mean For You
If your business is already using Acumatica ERP software, these updates mean you will enjoy even greater functionality from what is already an incredibly versatile platform, but even if your company hasn’t made the jump to Acumatica yet, now is the perfect time to do so.
To learn more about Acumatica and what benefits it can provide your business, connect with Advanced Solutions & Consulting Co. As a leading Acumatica implementation partner, we can answer any questions you may have and arrange a complimentary demo.