Acumatica 2024 R1, released on March 20, 2024, delivers a wave of new features designed to empower businesses across various industries. This latest update to Acumatica Cloud ERP introduces enhancements to core features like financials and payroll, CRM, manufacturing, distribution, and more, helping organizations streamline operations, improve efficiency, and gain a competitive edge.
New or Enhanced Financial Features
Here’s a quick recap of some key new or enhanced finance and accounting features rolled out in Acumatica 2024 R1:
Effortless Bank Reconciliation: Map Multiple Accounts in Bank Feeds
Acumatica 2024 R1 simplifies bank reconciliation by allowing you to map multiple bank accounts to a single cash account. This eliminates the need for separate accounts and streamlines the process of loading financial transactions from various sources. Additionally, you can now import transactions from different financial periods and manually adjust import start dates for greater flexibility.
Seamless Point-of-Sale Integration: Support for POS Payments
This release introduces long-awaited support for point-of-sale (POS) payments. Previously, merchants relied on third-party POS systems and manual data entry. Now, Acumatica seamlessly integrates with POS solutions, allowing for real-time transaction processing and eliminating the need for duplicate data entry. This translates to faster processing times, improved accuracy, and reduced administrative burden.
Simplify Returns (Full or Partial Refund) on Cash Purchases
The process of issuing a full or partial refund on a cash purchase – that is to say, payment in full made at the time of transaction where no liability is created – has been simplified. Acumatica 2024 R1 streamlines issuing full or partial refunds on cash purchases. Gone are the days of voiding documents. With a simple “Return” command, users can reverse the original transaction and generate a corresponding “Cash Return” document, saving time and minimizing errors.
Acumatica CRM Enhancements
Commitment Tracking and Closure Workflow:
The new case commitment tracking and closure workflow features empower support teams to provide exceptional customer service. Acumatica 2024 R1 allows for setting and monitoring commitments within specific timeframes, aligning with service-level agreements (SLAs). These core features ensure timely responses and case resolutions, leading to higher customer satisfaction.
Enhanced Case Management:
The addition of a “Closure Notes” tab on the Cases screen allows service representatives to capture additional details during case closure or throughout the resolution process. This fosters better communication and ensures all relevant information is documented for future reference.
Tailored Customer Communications:
Acumatica 2024 R1 offers the ability to personalize email templates based on various criteria, such as branch, project, or service management category. This enables businesses to deliver targeted and relevant communication to customers, fostering stronger relationships.
Updates for Accurate and Efficient Handling of Inventory and Order Management
Intelligent Inventory Optimization with DRP: Distribution Requirements Planning (DRP) is a game-changer for inventory management. This powerful new functionality leverages time-phased demand planning and sales forecasts to optimize inventory levels and prevent stockouts. By precisely aligning supply with demand, businesses can minimize excess inventory storage costs and ensure products are readily available when needed.
Improved Order Fulfillment: DRP also enhances order fulfillment by providing date-specific recommendations for unmet demands. This empowers distributors to make informed decisions about replenishing stock and ensures timely order fulfillment, leading to happier customers.
Streamlined Shipping with Pacejet – Enhanced Integration: The built-in integration with Pacejet Carrier Service eliminates the need for customization projects, to streamline small parcel and LTL shipment processing workflows. This translates to faster processing times, improved accuracy, and reduced administrative burden for shipping departments dealing with various packing and shipping scenarios.
MRP Enhancements
For manufacturers, a collection of MRP-related enhancements have been introduced, including:
- Ability to exclude inactive warehouses from inventory planning
- Ability to include or exclude orders by ‘order type’ in inventory planning
- Ability to include kit components in inventory planning
- You can now specify the planning horizon value which, during the regeneration of inventory planning, will process only item plans with a supply or demand date that is earlier than or the same as the regeneration date plus the number of days specified in the Planning Horizons box.
Integration with Amazon for Retailers
Acumatica 2024 R1 now supports the synchronization of data between Acumatica ERP and Amazon providing a streamlined workflow. The new Amazon Connector synchronizes orders fulfilled by either Amazon or the merchant. Other data synchronized between the two systems can include product availability, Amazon fees, payments, and taxes.
Refer to the fully-detailed Acumatica 2024 R1 release notes or contact Kissinger if you need help connecting your system to an existing Amazon Seller Account as well as activating and setting up the supported entities.
A Final Word on Acumatica 2024 R1
Acumatica 2024 R1 is a significant update that delivers a wealth of new features and functionalities designed to empower businesses of all sizes across various industries. From streamlining financial processes and enhancing customer service to optimizing inventory management and automating workflows, Acumatica 2024 R1 equips organizations with the tools they need to thrive in today’s competitive business landscape.
The release of Acumatica 2024 R1 exemplifies the platform’s commitment to continuous improvement. By consistently introducing new features and functionalities, Acumatica empowers businesses to stay ahead of the curve and adapt to evolving industry trends. Additionally, Acumatica’s focus on user feedback ensures that new features address real-world business challenges and provide tangible benefits to users.
Choosing the Right ERP Solution
Selecting the right ERP solution is a critical decision for any business. Acumatica 2024 R1 offers a compelling proposition with its robust features, scalability, and industry-specific functionalities. Here are some key considerations when evaluating an ERP solution:
- Scalability: The solution should be able to accommodate your business’s growth plans.
- Ease of Use: A user-friendly interface and intuitive workflows minimize training time and ensure user adoption.
- Customization: The ability to customize the solution to meet your specific business needs is essential.
- Integration Capabilities: Seamless integration with existing business systems streamlines operations and eliminates data silos.
- Total Cost of Ownership (TCO): Consider the upfront costs, ongoing maintenance fees, and the potential return on investment (ROI) when evaluating different solutions.
Acumatica 2024 R1 represents a significant investment in the future of your business. By leveraging the power of this latest update, businesses can:
Increase Efficiency: Streamlined workflows, automation capabilities, and improved data management lead to increased efficiency and productivity across all departments.
Enhance Customer Satisfaction: Improved customer service capabilities, such as personalized communication and faster order fulfillment, can lead to higher customer satisfaction and loyalty.
Reduce Costs: Optimized inventory management, streamlined financial processes, and reduced administrative burden translate to significant cost savings.
Gain a Competitive Edge: This release empowers businesses to operate more efficiently, adapt to changing market conditions, and ultimately achieve their strategic goals.
If you’re looking for a comprehensive and scalable ERP solution that can help your business thrive, Acumatica 2024 R1 is a compelling option. Explore the available resources, consider your specific business needs, and take advantage of a free consultation, so you can make an informed decision about whether the Acumatica solution is the right fit for you.
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Kissinger Associates is an Acumatica Gold Certified Partner.
