diff --git a/README.md b/README.md
index 5b1b878cf..7d7017df4 100644
--- a/README.md
+++ b/README.md
@@ -17,17 +17,17 @@ Powertools is available in Maven Central. You can use your favourite dependency
     <dependency>
         <groupId>software.amazon.lambda</groupId>
         <artifactId>powertools-tracing</artifactId>
-        <version>0.4.0-beta</version>
+        <version>0.5.0-beta</version>
     </dependency>
     <dependency>
         <groupId>software.amazon.lambda</groupId>
         <artifactId>powertools-logging</artifactId>
-        <version>0.4.0-beta</version>
+        <version>0.5.0-beta</version>
     </dependency>
     <dependency>
         <groupId>software.amazon.lambda</groupId>
         <artifactId>powertools-metrics</artifactId>
-        <version>0.4.0-beta</version>
+        <version>0.5.0-beta</version>
     </dependency>
     ...
 </dependencies>
diff --git a/docs/content/index.mdx b/docs/content/index.mdx
index 41ff2d576..8a135e7ea 100644
--- a/docs/content/index.mdx
+++ b/docs/content/index.mdx
@@ -16,17 +16,17 @@ Powertools dependencies are available in Maven Central. You can use your favouri
     <dependency>
         <groupId>software.amazon.lambda</groupId>
         <artifactId>powertools-tracing</artifactId>
-        <version>0.4.0-beta</version>
+        <version>0.5.0-beta</version>
     </dependency>
     <dependency>
         <groupId>software.amazon.lambda</groupId>
         <artifactId>powertools-logging</artifactId>
-        <version>0.4.0-beta</version>
+        <version>0.5.0-beta</version>
     </dependency>
     <dependency>
         <groupId>software.amazon.lambda</groupId>
         <artifactId>powertools-metrics</artifactId>
-        <version>0.4.0-beta</version>
+        <version>0.5.0-beta</version>
     </dependency>
     ...
 </dependencies>
diff --git a/docs/content/utilities/batch.mdx b/docs/content/utilities/batch.mdx
index 74401a726..22385db44 100644
--- a/docs/content/utilities/batch.mdx
+++ b/docs/content/utilities/batch.mdx
@@ -35,7 +35,7 @@ To install this utility, add the following dependency to your project.
 <dependency>
     <groupId>software.amazon.lambda</groupId>
     <artifactId>powertools-sqs</artifactId>
-    <version>0.4.0-beta</version>
+    <version>0.5.0-beta</version>
 </dependency>
 ```
 
diff --git a/docs/content/utilities/parameters.mdx b/docs/content/utilities/parameters.mdx
index 964d834ab..5967c64b3 100644
--- a/docs/content/utilities/parameters.mdx
+++ b/docs/content/utilities/parameters.mdx
@@ -23,7 +23,7 @@ To install this utility, add the following dependency to your project.
 <dependency>
     <groupId>software.amazon.lambda</groupId>
     <artifactId>powertools-parameters</artifactId>
-    <version>0.4.0-beta</version>
+    <version>0.5.0-beta</version>
 </dependency>
 ```
 
diff --git a/docs/content/utilities/sqs_large_message_handling.mdx b/docs/content/utilities/sqs_large_message_handling.mdx
index e2e4a77ad..bdcf4d540 100644
--- a/docs/content/utilities/sqs_large_message_handling.mdx
+++ b/docs/content/utilities/sqs_large_message_handling.mdx
@@ -29,7 +29,7 @@ To install this utility, add the following dependency to your project.
 <dependency>
     <groupId>software.amazon.lambda</groupId>
     <artifactId>powertools-sqs</artifactId>
-    <version>0.4.0-beta</version>
+    <version>0.5.0-beta</version>
 </dependency>
 ```
 
diff --git a/example/HelloWorldFunction/pom.xml b/example/HelloWorldFunction/pom.xml
index c23351de5..4d54cd533 100644
--- a/example/HelloWorldFunction/pom.xml
+++ b/example/HelloWorldFunction/pom.xml
@@ -16,27 +16,27 @@
         <dependency>
             <groupId>software.amazon.lambda</groupId>
             <artifactId>powertools-tracing</artifactId>
-            <version>0.4.0-beta</version>
+            <version>0.5.0-beta</version>
         </dependency>
         <dependency>
             <groupId>software.amazon.lambda</groupId>
             <artifactId>powertools-logging</artifactId>
-            <version>0.4.0-beta</version>
+            <version>0.5.0-beta</version>
         </dependency>
         <dependency>
             <groupId>software.amazon.lambda</groupId>
             <artifactId>powertools-metrics</artifactId>
-            <version>0.4.0-beta</version>
+            <version>0.5.0-beta</version>
         </dependency>
         <dependency>
             <groupId>software.amazon.lambda</groupId>
             <artifactId>powertools-parameters</artifactId>
-            <version>0.4.0-beta</version>
+            <version>0.5.0-beta</version>
         </dependency>
         <dependency>
             <groupId>software.amazon.lambda</groupId>
             <artifactId>powertools-sqs</artifactId>
-            <version>0.4.0-beta</version>
+            <version>0.5.0-beta</version>
         </dependency>
         <dependency>
             <groupId>com.amazonaws</groupId>
diff --git a/pom.xml b/pom.xml
index 3023f0d96..f9c841a75 100644
--- a/pom.xml
+++ b/pom.xml
@@ -6,7 +6,7 @@
 
     <groupId>software.amazon.lambda</groupId>
     <artifactId>powertools-parent</artifactId>
-    <version>0.4.0-beta</version>
+    <version>0.5.0-beta</version>
     <packaging>pom</packaging>
 
     <name>AWS Lambda Powertools Java library Parent</name>
diff --git a/powertools-core/pom.xml b/powertools-core/pom.xml
index 8206cb583..4c8f4e846 100644
--- a/powertools-core/pom.xml
+++ b/powertools-core/pom.xml
@@ -10,7 +10,7 @@
     <parent>
         <artifactId>powertools-parent</artifactId>
         <groupId>software.amazon.lambda</groupId>
-        <version>0.4.0-beta</version>
+        <version>0.5.0-beta</version>
     </parent>
 
     <name>AWS Lambda Powertools Java library Core</name>
diff --git a/powertools-logging/pom.xml b/powertools-logging/pom.xml
index 70c51a48e..18406e5e0 100644
--- a/powertools-logging/pom.xml
+++ b/powertools-logging/pom.xml
@@ -10,7 +10,7 @@
     <parent>
         <artifactId>powertools-parent</artifactId>
         <groupId>software.amazon.lambda</groupId>
-        <version>0.4.0-beta</version>
+        <version>0.5.0-beta</version>
     </parent>
 
     <name>AWS Lambda Powertools Java library Logging</name>
diff --git a/powertools-metrics/pom.xml b/powertools-metrics/pom.xml
index 56009e46b..2ba8b4501 100644
--- a/powertools-metrics/pom.xml
+++ b/powertools-metrics/pom.xml
@@ -10,7 +10,7 @@
     <parent>
         <artifactId>powertools-parent</artifactId>
         <groupId>software.amazon.lambda</groupId>
-        <version>0.4.0-beta</version>
+        <version>0.5.0-beta</version>
     </parent>
 
     <name>AWS Lambda Powertools Java library Metrics</name>
diff --git a/powertools-parameters/pom.xml b/powertools-parameters/pom.xml
index 3dc815f93..cd35e57b0 100644
--- a/powertools-parameters/pom.xml
+++ b/powertools-parameters/pom.xml
@@ -7,7 +7,7 @@
     <parent>
         <artifactId>powertools-parent</artifactId>
         <groupId>software.amazon.lambda</groupId>
-        <version>0.4.0-beta</version>
+        <version>0.5.0-beta</version>
     </parent>
 
     <artifactId>powertools-parameters</artifactId>
diff --git a/powertools-sqs/pom.xml b/powertools-sqs/pom.xml
index 52867d191..b33e2725e 100644
--- a/powertools-sqs/pom.xml
+++ b/powertools-sqs/pom.xml
@@ -10,7 +10,7 @@
     <parent>
         <artifactId>powertools-parent</artifactId>
         <groupId>software.amazon.lambda</groupId>
-        <version>0.4.0-beta</version>
+        <version>0.5.0-beta</version>
     </parent>
 
     <name>AWS Lambda Powertools Java library SQS</name>
diff --git a/powertools-tracing/pom.xml b/powertools-tracing/pom.xml
index c056be202..96ffed69e 100644
--- a/powertools-tracing/pom.xml
+++ b/powertools-tracing/pom.xml
@@ -10,7 +10,7 @@
     <parent>
         <artifactId>powertools-parent</artifactId>
         <groupId>software.amazon.lambda</groupId>
-        <version>0.4.0-beta</version>
+        <version>0.5.0-beta</version>
     </parent>
 
     <name>AWS Lambda Powertools Java library Tracing</name>