With new advances in technology and innovation emerging daily, keeping up-to-date with the latest and greatest opportunities can be a full-time job.
It’s events like the Acumatica Summit, which took place over three days in January 2024 in Las Vegas, that enable organizations from around the world to gather, network, and learn about the latest advances in technology and automation across industries.
With enterprise resource planning (ERP) solutions, and how they can work for you, at the helm of discussion, let’s dig into the Summit and the trends that emerged as we move into the future.
Acumatica is set to introduce fresh capabilities designed to empower mid-market enterprises for growth, scalability, and enhanced efficiencies. The spotlight was on these features at the 2024 Acumatica Summit.
The 2024 R1 version introduces several new features and functionalities with an emphasis on industry, including:
An upgraded Managed Sales Allocation process providing increased control and flexibility over the order allocation process. Distributors can benefit from consolidated views of allocations, enhanced selection criteria, and improved efficiency in handling backorders within the same system.
The day one keynote showcased the soon-to-be-finalized principles of innovation, focusing on being “responsible” with protective guardrails for customer data, “practical” to address real-world needs, and “valuable” driven by customer input.
While the formal unveiling of these innovation principles is pending, Acumatica historically emphasizes tying next-gen tech to customer results.
A potential “AI readiness” curriculum within Acumatica Open University might be on the horizon, offering substantive AI preparation until Acumatica’s fully vetted solutions are available.
Acumatica also pulled back the curtain on the Professional Services Edition, building upon the existing functionality for project accounting, billing, and scheduling.
With hundreds of new features dedicated to customer service and customer lifecycle management, the Professional Services Edition, according to Ali Jani, Chief Product Officer at Acumatica, is poised to be an asset as industries converge, and companies adopt new processes and functions.
The anticipated release of this new edition is scheduled for later in 2024.
The Acumatica Summit showed a resolute cloud ERP provider reinforcing its vertical ERP strategy. However, the advent of AI and ESG introduces a fresh array of challenges.
Here’s my initial analysis of Acumatica’s reaction, alongside insights gleaned from conversations with customers in Las Vegas:
As Acumatica bases much of its development on solving its customers’ problems, clearly the enhancements were aligned with the needs of customers. Aligned with those needs, Acumatica’s enhancements demonstrate its dedication to addressing user challenges.
As 2024 R1 approaches, customers and partners are urged to meticulously review the release notes to identify relevant updates for their systems.
For more information about this news, and to watch the keynote presentations, visit the Summit’s webpage.
Our team of dedicated professionals can help you determine which options are best for you and how adopting these kinds of solutions could transform the way your organization works. For more information, and for extra support along the way, contact our team.