Priority Software Ltd., a leading global provider of business management solutions, today announced the release of its latest product version, Priority V 21.1. Released to Priority customers around the globe, V 21.1 offers enhanced business process functionality for enterprises, including Object Distribution, MRP by Branches, Master Data Management (MDM), and Multi-Company Budgets. This version also includes new product localization for the Netherlands, enhancements in Priority’s Revenue Recognition module, Rental module, and mobile app, new Vendor Rating capabilities, and more.

In keeping with Priority’s growth strategy, and to further enhance the support of its global multi-company, multi-site enterprise customers on the same Priority platform, in Priority V 21.1, large organizations can now run numerous operational processes and financials in a multi-company mode. This includes open/close fiscal period, open numeration templates, set VAT report period, transfer prepaid expenses/deferred income, transfer sums to VAT account, and transfer opening balances. New features were also added to the Data Distribution (MDM) module (EDI), whereby enterprise customers can now use the new Add Company to Data Exchange feature to select the interfaces where they wish to add a new company.

V 21.1 offers extensive support for its customers worldwide, to comply with local tax regulations, and more. For Priority customers in the Netherlands, and for global customers doing business in the Netherlands, V 21.1 includes Priority’s latest product localization for the Netherlands. This localization offers VAT reporting, Financial Audit File for submission during an audit, Intrastat files according to the Netherlands’ regulations, electronic invoices in Peppol format, and more.

Further V 21.1 enhancements include Priority’s Revenue Recognition module, now with automatic calculation of fair value for document line or document revenue components, and automatic fair value allocation by price lists. To further support customers’ operations in the field, Priority offers mobile automated GPS navigation powered via the mobile app. In V 21.1, Supply Chain Management enhancements include an upgraded Dropshipping process to easily receive third-party verification of goods, new Inventory Allocation mechanism, and improved Warehouse Transaction Control mechanism.

A leading business management solutions provider, Priority thrives on innovation, delivering the tools and functionality to meet the unique needs of its customers, helping them to enhance their efficiency and productivity. Powered by flexibility, system openness and mobility tools, Priority believes that ERP systems should and can be easier to use, easier to implement and easier to maintain and enhance. Priority supports business processes and workflows by delivering the necessary tools to achieve this flexibility, including Business Process Management (BPM), mobile application generator, user-level personalization, business rules generator, and more.

Keren Sherer-Taiber, VP Product Management at Priority Software, said, “An integral part of our growth strategy, is to further our support to our enterprise customers. Priority understands their challenges, and their imminent need for digital workflows to maintain business continuity, efficiency and productivity. Priority V 21.1 is testament to our unwavering commitment to enterprise-level, distributed organizations, by giving them the tools and functionality they need to effectively manage their multi-company, multi-site operations on the same Priority instance, and in some cases, across instances.”