Business evolution is impossible when you stand still, and it requires hard work and innovation. But that’s not all. In the current economic environment, business evolution requires intelligent technology, such as Acumatica’s comprehensive cloud ERP solution.
Twice a year, Acumatica releases major updates to our already award-winning solution, and our second release of 2023 is now available. Today, we’ll look at the exciting enhancements provided by Acumatica 2023 R2, but before we do, we’ll define intelligent technology and discuss how it can help you reimagine your business and drive growth today and in the future.
Intelligent Technology and Acumatica Cloud ERP
Technical University of Madrid professor Martin Molina, as reported by TechTarget, says that there’s “no single standard that defines an intelligent system,” but Molina notes four characteristics that may be found in intelligent systems:
- Operates in an environment with other agents.
- Possesses cognitive abilities such as perception, action control, deliberative reasoning or language use.
- Follows behavioral principles based on rationality and social norms.
- Has the capacity to adapt through learning.
Another, more vital characteristic of intelligent technology is the presence of artificial intelligence (AI). McKinsey & Company defines AI as “a machine’s ability to perform the cognitive functions we usually associate with human minds, such as perceiving, reasoning, learning, interacting with an environment, problem solving, and even exercising creativity.”
Acumatica’s modern, cloud-based ERP technology incorporates AI and machine learning within its core offering. It intelligently and seamlessly connects your business’s data, processes, and people onto a single system. Companywide data rests in its centralized repository, enabling teams to access and analyze updated, accurate information at any time and from anywhere. Built on a flexible platform, the business management solution also delivers open APIs for rapid integration, the ability to automate critical business processes, and the industry-specific features and functionality needed to operate efficiently and effectively.
Essentially, Acumatica’s agile cloud ERP software supplies business leaders with the information and insights that result in better—and faster—decisions as well as the AI automation you can use to increase employee productivity and business profitability. And because Acumatica is passionate about ensuring customer satisfaction and in providing cutting-edge innovations, we’ve made sure that Acumatica 2023 R2 delivers both.
A Look at Acumatica 2023 R2’s Technology and AI/ML Feature Updates
On October 5, we released Acumatica 2023 R2,with our 2023 R2 Virtual Launch Event. Those who tuned in saw our most recent feature updates, which were designed to help simplify and automate your complex business processes and ensure that you use your business hours more effectively.
Below are the technical and AI/ML feature benefits of Acumatica 2023 R2:
- Make work on-the-go easier and more productive with dynamically visible containers that show only the relevant tabs on the mobile device.
- Save time with actionable custom field elements to navigate to external sites.
- Drive productivity and efficiency by tailoring the workflow to the order type; create a custom workflow for a new order type.
- Streamline bank reconciliation and manage credit card receipts efficiently by automatically mapping bank fields to fields in Acumatica.
- Support international operations by leveraging AI/ML to add branches and locations to Acumatica’s document recognition capabilities while supporting complex language recognition.
- Speed data entry using intelligent text completion that makes recommendations based on past entries.
Evolving and Reimagining the Future with Acumatica Cloud ERP
Acumatica’s intelligent technology consistently supplies businesses with the resources and intelligence necessary for them to evolve and reimagine their future in today’s dynamic marketplace. Doug Johnson, Acumatica’s VP, Product Management, touches on the significant benefits provided by intelligent technology in a recent article on AI automation. He writes:
With their deep knowledge of their organizations, workers can be more productive by identifying inefficiencies by putting a spotlight on bottlenecks, repetitive tasks, anomalies, errors, and untapped sales opportunities. They can then apply AI automation to quickly solve those problems and keep them solved—the very definition of user-driven AI automation. All this makes businesses more efficient while freeing employees to focus on higher-value tasks that build success. Free from manual drudgery, workers have time to be creative and employ the “big picture” thinking that leads to innovation and growth.
Jo Young, Managing Director at Additive-X, has first-hand experience with the benefits of implementing Acumatica. She says: “We can grow with [Acumatica] by continually implementing existing features and utilizing new system enhancements. I’ll be surprised if there ever comes a time in 5 to 10 years where I will say, ‘Oh gosh, Acumatica can’t do that.’”
We would be surprised too. Our mantra has become, “Acumatica can make it happen,” and it’s due to our innovative developers, who utilize their skills as well as vital customer feedback to improve and update our cloud ERP software to expertly deliver releases like Acumatica 2023 R2 that meet the evolving needs of our community.
Stay tuned for “Acumatica 2023 R2: Drive Growth with Best-in-Class Applications, Unified Finance and CRM,” the second article in our three-part series on our latest release. If you have any questions about Acumatica or Acumatica 2023 R2, contact us today.