Acumatica unveiled their Acumatica 2024 R2 release on October 2, 2024 and we had an opportunity to sit down with Acumatica’s Chief Product Officer Ali Jani and VP of Product Management, Jeremy Larsen.

This update introduces over 350 enhancements aimed at improving usability, offering deeper insights into critical data, and boosting operational efficiency for small and mid-sized businesses. Notably, the new version features an updated user interface that allows for personalized screen layouts, making daily tasks more intuitive. Additionally, the integration of artificial intelligence enables users to detect anomalies in transaction reviews, providing a new level of data insight.

Industry-specific improvements include on-demand ProForma invoice creation and enhanced project billing workflows for the Construction Edition; advanced AI algorithms for anomaly detection in sales order margin analysis for the Distribution Edition; a new Estimate Worksheet in the Manufacturing Edition to improve cost estimation accuracy; and support for Amazon returns and improved Shopify integration in the Retail Edition. These enhancements reflect Acumatica’s commitment to delivering customer-driven innovations that address the specific needs of various industries.

Acumatica’s various industry editions show distinct growth patterns and focus areas. The Manufacturing Edition is the fastest-growing in terms of revenue, even if it doesn’t lead in customer count. On the other hand, Distribution Edition is seeing growth through e-commerce and direct-to-consumer channels, while Retail Edition includes  multi-channel sales as well as  some brick-and-mortar stores.

The Construction Edition stands out as the fastest-growing by the number of licenses, and a new Professional Services Edition—set for a standalone launch in October—is emerging as the fourth-largest vertical. This edition caters to adjacent markets like construction, as well as computer and IT services. Finally, the General Business Edition, which includes core financials and CRM, represents less than 20% of Acumatica’s total customer base.

Other notes from our conversation with Acumatica:

• Sandboxes: Acumatica has seen a significant decrease in the number of customers using sandboxes, from 40-50% to 20%. This is because customers are moving faster and want to be on the latest version of the software.
• New features: Acumatica is now offering free support for new features. This allows customers to experiment with new features and provide feedback. If the feedback is positive, the features will be rolled into the product.
• Manufacturing: Manufacturing is a bigger driver for Acumatica than ever before. Larger companies are increasingly using Acumatica for their manufacturing operations.
• Online capabilities: Acumatica is developing new online capabilities, such as R2 (return cycle). This will allow customers to return products directly to Acumatica.
• Launch: Acumatica 2024 R2 will be launching on October 2, 2024.
• AI: Acumatica uses the term “human-like” capabilities during their launch day overview to discuss what seems to be AI type initiatives.
• Community: Acumatica has a community of over 26,000 members.

Overall, Acumatica is a great candidate for anyone looking to replace an outdate accounting system with one that’s constantly improved and makes upgrading easier.