Acumatica 2024 R2: New Features and Improvements

Acumatica 2024 R2 includes over 350 improvements designed to make it easier for businesses to use the software, gain better insights, and work more efficiently. Most of these updates were inspired by feedback from Acumatica's active community of over 26,000 users. A a Gold Certified Acumatica partner, we are very excited about this release. 

Acumatica 2024 R2 - Key Areas of Improvement

The latest update focuses on three main areas:

1. Listening to Customers
   Acumatica values user feedback and regularly updates its software to meet customer needs better. This update made many changes based on real user suggestions, ensuring the software remains practical and user-friendly. Acumatica actively gathers feedback through forums, surveys, and user conferences, ensuring customer voices are heard and addressed meaningfully.
2. Using Advanced Technology
   The new version includes smarter features, such as Artificial Intelligence (AI), which makes it easier for businesses to analyze data and spot potential issues quickly. AI-driven analytics help businesses uncover trends, identify inefficiencies, and make data-backed decisions, reducing reliance on manual analysis and enhancing productivity.
3. Preparing for the Future
   Acumatica 2024 R2 is built to be flexible and scalable, meaning it can grow alongside businesses and adapt to future needs. The platform is designed for future technologies, ensuring seamless integration with emerging tools and business processes.

Key New Features and Benefits

1. Easier Bank Transactions

Direct integration with banks simplifies bank transaction management. Businesses can automatically import transactions and match them with records in Acumatica, reducing manual work and mistakes and ensuring more accurate financial records. Businesses can also set up automated rules to categorize expenses and revenues, streamlining reconciliation and improving financial transparency.

2. Smarter Data Insights with AI

The updated system uses AI to analyze business data and highlight unusual activities, such as unexpected expenses or missing invoices. This feature helps businesses catch potential errors early and make better decisions based on accurate information. Machine learning capabilities can also provide predictive insights, assisting companies to anticipate market trends and adjust their strategies proactively.

3. More Customizable Interface

Acumatica’s user interface (UI) has been improved for more customization. Users can now organize their dashboards and screens to fit their workflow better, making it easier to find the information they need quickly. The improved UI offers a drag-and-drop feature, allowing employees to personalize their workspace without needing technical expertise.

Industry-Specific Improvements

Acumatica 2024 R2 introduces several enhancements tailored to specific industries:

Construction Industry

• Pro Forma Invoicing: Users can now generate invoices as needed to improve cash flow management. This feature helps contractors bill clients more flexibly and track project progress efficiently.
• Enhanced Project Tracking: New project tracking features provide better visibility into project costs and timelines. Managers can oversee budgets, schedules, and resources from a single dashboard.
• Improved Field Service Management: Scheduling and managing on-site jobs is now easier and more efficient. Technicians can access job details on mobile devices, reducing errors and improving service quality.

Distribution Industry

• Better Order Management: A new feature detects unusual profit margins to help businesses identify pricing issues. Distributors can ensure profitability by setting up automatic alerts for margin discrepancies.

• Intercompany Shipments: Businesses with multiple locations can now manage shipments across different branches more effectively. The system

  simplifies inventory transfers and reduces delays.
• Receiving Process Improvements: A two-step verification process ensures accuracy when receiving goods. Warehouse staff can scan barcodes to match shipments with purchase orders, minimizing mistakes.

Manufacturing Industry

• Improved Cost Estimation: A new estimation worksheet helps manufacturers provide more accurate pricing by spreading one-time costs across different production levels. This feature enhances pricing accuracy and competitiveness.
• Linking Production Orders: Parent and child production orders can now be linked for better organization and tracking. This helps manufacturers maintain better control over complex production workflows.
• Streamlined Purchasing: Managing orders for outsourced manufacturing processes is now easier. Automated purchase order generation ensures materials are ordered at the right time, preventing production delays.

Retail Industry

• Simplified Amazon Returns: Managing returns and refunds for Amazon orders has been improved, making it easier for businesses to handle customer issues. Retailers can track return trends and identify potential product quality issues.
• Better Pricing Tools: Businesses using Shopify can now set volume-based discounts and special pricing rules. These features allow retailers to attract more customers with flexible pricing strategies.
• Omnichannel Order Management: Acumatica's retail capabilities now include better support for omnichannel selling, allowing businesses to integrate their online and offline sales channels more effectively.

Commitment to Innovation

Acumatica's Chief Product Officer, Ali Jani, highlighted the company's focus on providing valuable solutions for customers. He emphasized that the 2024 R2 update includes many new features and lays the foundation for future developments in AI and automation, ensuring businesses stay competitive. The company's investment in AI-driven automation aims to reduce manual data entry, enhance operational efficiency, and empower employees to focus on high-value tasks.

Looking Ahead

Acumatica plans to introduce a new edition focused on professional services later this year. This edition will expand Acumatica's offerings to include solutions for service-based businesses, helping them manage their projects, finances, and customer relationships more efficiently. Professional service firms will benefit from specialized project tracking, time tracking, and billing solutions tailored to their needs.

Acumatica also focuses on expanding integrations with popular third-party applications, ensuring businesses can seamlessly connect their existing tools with Acumatica's ERP system. Whether it's CRM, e-commerce, or payroll software, Acumatica aims to provide a unified business solution.

Security and Compliance Improvements

With growing concerns about data security, Acumatica 2024 R2 includes enhanced security features to protect sensitive business information. The new version includes:

• Improved Role-Based Access Control: Ensuring only authorized personnel can access critical business data.
• Data Encryption Enhancements: Protecting customer and financial data from potential breaches.
• Regulatory Compliance Tools: Helping businesses comply with industry standards and regulations such as GDPR and HIPAA.

The Acumatica 2024 R2 update is packed with improvements designed to make business operations smoother, more efficient, and future-ready. Whether in construction, manufacturing, retail, or distribution, businesses can use these new features to improve their processes and make smarter decisions. With its ongoing commitment to innovation and user-driven improvements, Acumatica continues to be a strong choice for companies looking for a powerful cloud ERP solution. Schedule a demo to see the new features in action and discover how they can benefit your operations.

As a trusted Acumatica partner, Aqurus Solutions helps businesses implement and optimize their ERP solutions to achieve operational excellence. Focusing on customer success, Aqurus Solutions offers tailored implementation, support, and training to ensure businesses leverage Acumatica's full potential.

Contact us today to learn how Aqurus Solutions can help your business succeed with Acumatica.