diff --git a/reports-scheduler/build.gradle b/reports-scheduler/build.gradle
index fbd098ee..c58a63df 100644
--- a/reports-scheduler/build.gradle
+++ b/reports-scheduler/build.gradle
@@ -488,3 +488,21 @@ if (!usingRemoteCluster && !usingMultiNode) {
 }
 
 apply from: 'build-tools/pkgbuild.gradle'
+
+// updateVersion: Task to auto increment to the next development iteration
+task updateVersion {
+    onlyIf { System.getProperty('newVersion') }
+    doLast {
+        ext.newVersion = System.getProperty('newVersion')
+        println "Setting version to ${newVersion}."
+         // String tokenization to support -SNAPSHOT
+        ant.replaceregexp(file:'build.gradle', match: '"opensearch.version", "\\d.*"', replace: '"opensearch.version", "' + newVersion.tokenize('-')[0] + '-SNAPSHOT"', flags:'g', byline:true)
+        ant.replaceregexp(file:'../.github/workflows/dashboards-reports-test-and-build-workflow.yml', match:'OPENSEARCH_PLUGIN_VERSION: \\d+.\\d+.\\d+.\\d+', replace:'OPENSEARCH_PLUGIN_VERSION: ' + newVersion.tokenize('-')[0] + '.0', flags:'g', byline:true)
+        ant.replaceregexp(file:'../.github/workflows/draft-release-notes-workflow.yml', match:'version: \\d+.\\d+.\\d+.\\d+', replace:'version: ' + newVersion.tokenize('-')[0] + '.0', flags:'g', byline:true)
+        // Match key version in JSON files.
+        ant.replaceregexp(file:'../dashboards-reports/opensearch_dashboards.json', match:'"version": "\\d+.\\d+.\\d+.\\d+', replace:'"version": ' + '"' + newVersion.tokenize('-')[0] + '.0', flags:'g', byline:true)
+        ant.replaceregexp(file:'../dashboards-reports/package.json', match:'"version": "\\d+.\\d+.\\d+.\\d+', replace:'"version": ' + '"' + newVersion.tokenize('-')[0] + '.0', flags:'g', byline:true)
+        // Match key opensearchDashboardsVersion in JSON files.
+        ant.replaceregexp(file:'../dashboards-reports/opensearch_dashboards.json', match:'"opensearchDashboardsVersion": "\\d+.\\d+.\\d+', replace:'"opensearchDashboardsVersion": ' + '"' + newVersion.tokenize('-')[0], flags:'g', byline:true)
+    }
+}