Acumatica cloud ERP software puts out two major releases per year, known as R1 and R2. Acumatica R1 comes out in January, typically at the annual Acumatica conference. R2 is a Fall release. 2020 R2 has been out for a month or so now, so users are starting to appreciate its new features. Based on the theme of “Work Smarter, Not Harder,” 2020 R2 offers new enhancements to usability and finance along with upgrades to the underlying platform itself. A number of Acumatica’s industry-specific editions saw changes in R2 as well.
Platform Enhancements: Documents, Workflows and Security
Acumatica is expanding the functionality of its modular, adaptable platform. Platform enhancements in 2020 R2 include the utilization of Artificial Intelligence (AI) and Machine Learning (ML) to automate the production of Accounts Payable (AP) documents. A new, advanced workflow engine enables users to modify their workflows visually. Added security requirements for OData contribute to a stronger security posture for Acumatica customers. Other platform enhancements in 2020 R2 include:
- Use of Acumatica’s business events engine to produce unified notification workflows.
- Ability to track data changes in real-time, complete with unified business event notifications.
- Support for mobile devices and mobile dialog boxes, with simple response to standard dialog questions.
- A flexible architecture that makes customization possible on a low- or no-code basis.
- More sophisticated data visualization.
Acumatica has stated that 2020 R2 allows users to save time (and therefore money) through the automated creation of AP documents from vendor invoices. The new release further enables users to instantly view up to 500 recently seen records. 2020 R2 also facilitates address lookup and enrichment, along with data retrieval by means of query join suggestions and previews.
Added Financial Management Functionality
Financial management has new functions in Acumatica 2020 R2. For example, it is now possible to handle cross-company sales opportunities. This is useful for multi-entity businesses whose separate units transact commerce with one another. The new release also enables streamlined bank reconciliation and allows for centralized account management. The latter improves customer visibility.
Updates to Industry Vertical and Add-On Modules
With 2020 R2, Acumatica has expanded the features available in several of its vertical editions and special-function modules. For example, ecommerce businesses can now simplify their buyers’ experiences with better buyer notifications, refund processing and shipment tracking. Companies using Acumatica Construction Edition can avail themselves of a new pro forma workflow that maximizes billing accuracy. Construction firms can further ensure the accuracy of their contract caps. Field service companies can now set up all-day appointments. They can also do more detailed recording of travel and break time.
Other highlights include:
- Shopify integration—built with Acumatica’s new commerce engine, this integration simplifies connections to eCommerce applications.
- Third-party quality module for manufacturers and distributors—Manufacturing and distribution companies can now track production outputs and get to market more rapidly by taking advantage of an embedded third-party quality module.
- Simplified collections—2020 R2 has new credit card processing features that lead to reductions in bad debt and simplified collections.
- Invoice validation—A new feature validates vendor invoices against purchase orders, reducing overpayments and procurement errors.
These are just a few of the new features now in service with Acumatica 2020 R2. If you want to learn more about how this updated version of the software can help your business, contact us for an in-depth discussion and demonstration.
Interested in Learning More About Acumatica? Attend Our 11/18 Event
On 11/18 at 1 PM EST, Innovative Cloud Solutions will best hosting a virtual Acumatica Lunch & Learn event. We will discuss how Acumatica can help you grow your business. With the industry’s most adaptable and future-proof platform, best in class product functionalist business practices, Acumatica is the leading business management solution for mid-market companies like yours. Sign up now to learn about Acumatica, see new product features, and view a live demo.