The many disruptions caused by the pandemic haven’t stopped businesses from eyeing the global market for lucrative business opportunities. However, these opportunities may be compromised by the business management solution upon which these businesses rely. Thankfully, this is not the case for those relying on Acumatica’s award-winning cloud ERP solution. Built on a future-proof platform with open architecture for rapid ERP integrations, scalability, and ease of use, it receives twice-yearly updates, and our latest release—Acumatica 2022 R1—is helping businesses unlock global markets.
In this second article of a three-part series (check out our first article, “Acumatica 2022 R1: Work Smart on the Go”), we’ll dive into how the localization, integration, and financial management capabilities introduced in Acumatica 2022 R1 will equip businesses to take advantage of international opportunities.
Unlocking Global Markets with Acumatica 2022 R1
During Acumatica Summit 2022, Acumatica CTO Mikhail Shchelkonogov highlighted our technology priorities, including modernization, data/insights, and user experience. Acumatica 2022 R1 exemplifies these priorities, offering extensive product updates and key features that modernize our platform, provide insights, and improve our already impressive ERP usability.
Here is an overview of the much-anticipated updates and features:
1. Localization and Integration
Localization allows users to adapt their software for different regions. It involves design, UX, language, and code changes. Acumatica recently released support for French-Canadian localization, and with Acumatica 2022 R1, we now support UK localization to help businesses expand into the UK markets. Additionally, we’re offering ISV-enabled location support for the Mexico region.
In Financials, we’re providing expanded module support for companies in multiple countries by providing real-time reporting across those entities, multiple base currency support, and consolidation of data by company (not just by branch). Other financial features include simplification of new automation in financials. Additionally, credit card processing and bank reconciliation processes have been enhanced. For example, businesses can now import CC refunds, match bank transactions as a mass process, split bank transactions, and more.
Customer Relationship Management (CRM) software is essential in helping turn prospects into loyal customers, as well as in retaining current customers. Acumatica’s Doug Johnson, VP, Product Management, writes in “The 4 ‘Must Haves’ of the Right CRM”:
With CRM software, businesses manage the customer lifecycle within one complete solution. At the top of the marketing funnel, the marketing team gathers, vets, and passes on leads. Next, the sales team turns the leads into opportunities, qualifying them and submitting proposals. Finally, the support team assists with requests and concerns once the customer is on board. They can all use the CRM solution to store customer data (e.g., contact information, lead information, quotes, requests, emails, and more) and utilize it throughout the process, from lead to closed deal. Case information, reports, and emails generated through each part of the customer lifecycle are available to everyone, providing a 360-degree view of the business.
Acumatica’s CRM has the four ‘must haves’, including being embedded in a cloud-based ERP solution, offering a 360-degree view of customers, providing integrated sales quotes, and delivering a customer self-service portal. Now, with Acumatica 2022 R1, we’ve:
- Simplified event scheduling and reminders across time zones, enhancing productivity
- Provided powerful case management capability for employees, helping companies document and manage employee issues
- Enhanced email interface, improving usability
Finally, the features and benefits of Acumatica 2022 R1 extend to Payroll.
In keeping with our ‘unlocking global markets’ theme, the first feature is the ability to preview our expanded payroll module, allowing customers to meet the needs of the Canadian markets.
Users will also be able to automate and process former employees’ final paychecks quickly and accurately with settlement paychecks, and they will also be able to utilize payroll dashboards for real-time, interactive analytics.
Thrive with Acumatica
The new features and corresponding benefits of Acumatica 2022 R1 will positively affect businesses that are looking to expand into international markets. They’ll also positively affect businesses already operating in global markets, such as award-winning digital media firm Incubeta Group.
With operations and offices across the globe, Incubeta was managing four legacy financial systems, 10 currencies, and disparate business support applications. The need for a single, connected solution was obvious, and out of the five ERP solutions they considered, Acumatica was their choice. Per their Acumatica customer success story, “Incubeta deployed Acumatica Cloud ERP to gain real-time visibility into finances across all its branches, support and consolidate multiple currencies, and scale easily to integration new acquisitions.”
Sean Reuben, Incubeta’s Global CFO, says, “Acumatica is flexible and allows you to do business the way you do.”
Even more, Acumatica, considered an ERP leader by users and ERP analysts, helps businesses grow and succeed by providing cloud ERP software that is enhanced and improved biannually based on user feedback. Watch as Acumatica team members discuss and demonstrate our latest release during the Day 2 Keynote, available on demand.
Contact our team today to ask any questions about our cloud-based ERP solution or schedule a demonstration. We’re excited to help businesses eliminate boundaries and thrive in any market.