8 Game-Changing Features for your Business: MYOB Acumatica Spring Release

The Spring 2024 release of MYOB Acumatica brings a host of exciting new features designed to meet the evolving needs of mid-market businesses. This year’s update focuses on enhancing the customer experience, expanding industry-specific functionalities, and integrating smarter technologies to help businesses work faster and more efficiently.  

Let’s take a look at the top 8 new features that will transform how you manage your business operations. 

1. Distribution Requirements Planning (DRP) 

For businesses that need to keep a close eye on inventory, the new Distribution Requirements Planning (DRP) feature is a game-changer. This centralised planning tool predicts demand across your warehouses and provides replenishment recommendations based on factors like sales orders, safety stock levels, and forecasts. By preventing over-ordering and stock shortages, DRP gives inventory managers more control and ensures that just-in-time inventory management runs smoothly critical for optimising supply chain operations. 

2. Enhanced Use of Generic Inquiries (GIs) 

MYOB Acumatica takes reporting to the next level with improvements to its Generic Inquiries (GIs). You can now use one GI as the data source for another, enabling more dynamic and flexible reporting. This feature helps you calculate key metrics, such as current ratios for financial dashboards or win rates for sales teams, streamlining your business intelligence processes. The ability to tailor reports more specifically to your needs enhances visibility and enables better decision-making. 

3. Case Management Enhancements 

MYOB Acumatica has made significant strides in customer service management with enhanced case management features. Automation now ensures that cases are assigned based on severity, allowing your team to focus on critical issues first. In addition, improvements in tracking service level agreements (SLAs) and managing commitment due dates help ensure timely responses and service. These updates make it easier to manage customer support and improve overall customer satisfaction. 

4. Workforce Management (WFM) Agreements Library 

Managing compliance and award rates has never been easier with the new Workforce Management (WFM) agreements library. This feature provides a comprehensive, up-to-date library of award conditions, ensuring that businesses can quickly apply the correct rules to employees. The WFM library reduces the time spent on payroll administration and helps ensure compliance with the latest industry regulations—offering peace of mind, particularly for businesses in industries like retail and hospitality. 

5. Enhanced Proforma Billing 

For project-based businesses, especially in construction, the Spring Release streamlines proforma billing processes. Previously, users would need to create new AR invoices and reverse them manually. With the new update, automation takes over the creation of the necessary AR invoices and credit memos, saving time and reducing manual effort. This ensures that project billing remains accurate and hassle-free, maintaining clean financial records with minimal friction. 

6. MRP Enhancements 

Manufacturers will benefit from several new improvements to the Material Requirements Planning (MRP) module. Key updates include the ability to manage kit planning, inactive warehouse management, and the exclusion of return orders from planning. These enhancements provide manufacturers with better tools for forecasting and production planning, helping to optimise production workflows and reduce inefficiencies. 

7. Ability to Reverse Cash Documents 

MYOB Acumatica now enables users to reverse cash purchase documents without voiding them. The new “cash return” document can be generated directly from the original transaction, streamlining workflows and improving the accuracy of financial records. This feature is particularly beneficial for retail businesses or any organisation with frequent cash transactions, reducing errors and speeding up the financial process. 

8. Reporting Operations Out of Sequence 

For manufacturers, the ability to report operations out of sequence offers increased flexibility in managing production workflows. This feature allows businesses to record production events even when they don't follow the planned order. It's ideal for manufacturers with complex production lines, where operations may not always proceed in a linear fashion. This feature helps reduce delays and ensures accurate production tracking, even when adjustments are made to the process. 

As an existing MYOB Acumatica user or someone exploring ERP solutions for the first time, now is the perfect time to take advantage of the Spring 2024 release updates. This update introduces powerful new features designed to streamline your business operations, improve financial management, and enhance customer service. With innovations like smarter inventory management, advanced case management, Distribution Requirements Planning (DRP), and improved proforma billing, MYOB Acumatica helps you optimise efficiency and stay ahead of the competition. 

At Tonic Technologies, we're here to ensure you fully leverage these features to drive business growth and success. Contact us today to learn more or send us an inquiry using the form —let us help you make the most of these exciting advancements!