As we mark a decade of MYOB Acumatica transforming businesses across mid-market industries, there’s much to celebrate! The recent MYOB Discover Q4 2024 event was packed with exciting announcements, including the unveiling of the Spring Release 2024.
This new update brings powerful features to boost productivity, streamline operations, and enhance customer experiences. Let’s dive into the key highlights and what’s in store for the future.
Spring Release 2024: What’s New?
The 2024 R1 Spring Release of MYOB Acumatica is packed with robust features aimed at enhancing productivity, streamlining workflows, and providing deeper insights for mid-market businesses.
With the evolving needs of industries like construction, manufacturing, wholesale distribution, and field services, this release introduces a variety of updates to empower users with the tools they need to stay ahead.
Here’s a detailed look at what’s new and how it can benefit your business:
1. Enhanced Financial Management
- Reversing Cash Purchase Documents: The new “cash return” document feature allows users to manage cash refunds more accurately and efficiently, reducing manual errors and streamlining financial records. Ideal for industries like retail, where frequent cash transactions and refunds occur.
- Credit Memos with Terms and Cash Discounts: Now, businesses can manage early payment discounts more effectively. This feature aids in cash flow forecasting and ensures accurate financial reporting, benefiting sectors with high invoice volumes, such as retail and manufacturing.
Learn more about the latest financial management features and how they can benefit your business.
2. Sales and Customer Enhancements
- Improved Case Management: Automation now helps assign cases based on severity, ensuring critical issues are promptly addressed. This update enhances SLA tracking, allowing businesses to maintain high customer service standards.
- Enhanced Returns Processing: New search criteria simplify the process of finding and managing returns, improving productivity and customer satisfaction.
Discover more about the updates to sales and customer management.
3. Industry-Specific Improvements
Manufacturing
Material Requirements Planning (MRP) Enhancements: Updates include kit planning and the ability to exclude inactive warehouses and return orders from planning. These enhancements offer flexibility in managing production timelines and improve efficiency.
Discover how MRP enhancements can streamline your manufacturing operations.
Construction
Enhanced Proforma Billing: New improvements allow direct corrections to proforma invoices, streamlining project billing processes for construction businesses. This helps maintain accurate project finances.
Learn how enhanced proforma billing can help your construction projects.
Field Services
One-Click Invoice Reversal: Streamlining the process of handling billing errors, this feature ensures consistency and reduces administrative burdens.
Find out more about how this feature supports field services.
Wholesale Distribution
Distribution Requirements Planning (DRP): Centralised inventory planning with replenishment suggestions helps prevent over-ordering or stock shortages. It considers forecasts, sales orders, and safety stock levels, crucial for efficient supply chain management.
See how DRP can optimise your supply chain operations.
4. People: Workforce Management (WFM) and Payroll
- WFM Agreements Library: The new library allows businesses to easily apply local regulatory requirements, simplifying payroll management and reducing onboarding time.
- Payroll Reporting Enhancements: Improved reports make remuneration reviews easier, ensuring compliance and accurate payroll processes.
Find out more about the latest tools for managing your workforce.
5. Platform Services and Automation
- Enhanced Generic Inquiries: Users can now create complex data queries, enabling advanced reporting and operational insights.
- Business Event Logic Enhancements: These updates introduce new automation capabilities, allowing businesses to streamline repetitive tasks and focus on strategic activities.
Learn how platform services and automation can boost your business.
6. New Launch Assets and Support Resources
- MYOB introduced a Release Hub where users can access everything they need to make the most of these new features, including demo videos, release notes, and online learning modules.
Spring Release 2024 Key Takeaways:
- Financial Efficiency: Streamlined workflows for cash transactions and financial management improve accuracy and reduce manual errors.
- Operational Productivity: Industry-specific updates offer flexibility and efficiency for businesses in construction, manufacturing, field services, and distribution.
- Automation & Integration: Enhanced platform services and automation tools save time, allowing businesses to focus on core strategies.
- Workforce Management: New tools simplify payroll and employee management, ensuring compliance and efficiency.
Looking Ahead to 2025: Discover Event & More
The Spring Release 2024 was introduced at the MYOB Acumatica Discover Event on 22 October 2024. This year’s event also included a sneak peek into what’s coming next in 2025:
- In-Person Discover Event: MYOB announced the first in-person Discover event in 2025, promising exciting updates and new features for MYOB Acumatica users.
- Product Roadmap: Future updates aim to build on the Spring Release, with enhancements that will drive innovation across industries, including more automation features, advanced reporting tools, and continued focus on customer experience improvements.
Ready to Take the Next Step?
At AlphaBiz Solutions, we’re dedicated to helping our customers get the most out of MYOB Acumatica. With the new Spring Release 2024, there’s no better time to explore how these features can transform your business.
Visit the MYOB Acumatica Release Hub to learn more about the latest enhancements.
Let us help you discover MYOB Acumatica’s full potential. Book a complimentary demo and see how MYOB Acumatica can empower your business.
