12th November, 2015
MYOB is more than just an accounting software company. Long seen as the leading accounting software provider in Australia and New Zealand, MYOB offers much more than just accounting solutions. The last few years have seen MYOB invest in a number of key strategic partnerships, making it a true SME Business Solutions provider.
While MYOB AccountRight has been the foundation and backbone of the accounting solutions used by the majority of SME customers, in the last 18 months MYOB has released a number of new online products enabling businesses to take advantage of the leading technologies without the excessive hardware implementation and ongoing running costs traditionally associated with server-based software.
MYOB was recently awarded BRW’s Most Innovative Large Company in Australia award, and placed second overall across all categories. As a business clearly focused on constantly innovating, MYOB is planning to invest ~$35-40M in product development in 2015 alone. While there are many values that drive MYOB forward, there is one overriding value that influences everything they do – to simplify.
Simplifying tasks and making business life easier enables Aussie business owners to focus on running their business and be profitable, while remaining compliant and reducing risks. It’s all about delivering solutions that keep the business owner away from hours in front of their computer doing bookwork, or from constantly checking that data has been entered correctly.
Recent releases such as Smart Bills – MYOB’s automatic invoice reconciliation tool — as well as its powerful and reliable Bank Feeds solution has meant a standard small business may save upward of 10 hours per month on automating invoice imports and bank reconciliations with minimal human intervention. This is only the beginning. Direct integration between franchisor systems and MYOB opens up a whole other world of opportunities to further empower franchisees to save time, and focus on running their business to increase profitability.
Compliance and visibility over real-time data plays a big part in the goal of simplification. Remaining compliant is often the scariest part of running a business because worrying about meeting ATO compliance is enough to keep even the most experienced business owner awake at night when things go wrong.
MYOB helps to remove this burden, as all of its solutions meet ATO and government reporting requirements – meaning peace of mind when you submit your financial reports each quarter/year.
Also, having your accountant or bookkeeper accessing your data online means they can spot errors or problems in real time, enabling you to get on top of any issues quickly. The same can be said for franchisors who can track real-time sales data coming from a store – never has it been easier to spot anomalies from benchmarking stores or locations against one another in real-time. The ability to pick up errors or identify problems as they happen is incredibly valuable — historically it has required teams of people and precious resources, and generally taken weeks or evens months to do.
What truly separates MYOB from its competition is the approach it takes to partnerships. While many software providers simply see franchises as customers who pay them money to buy their software, MYOB is proud of the relationships it fosters with franchise customers and develops a true partnership.
From Executive levels, down to technical support, and right through to open access to Developer, Consulting, and Bookkeeping and Accounting Partners, MYOB works closely with its franchise partners to ensure they receive unparalleled service and support at both franchisor and franchisee levels.
It is the reason why MYOB is the chosen partner of some of Australia’s most recognised franchise brands.
MYOB Advanced A world-leading online ERP solution for businesses that have outgrown traditional accounting software packages and require a more powerful platform. A customisable product, it is perfect for franchisors with a large network of franchise locations.
MYOB Essentials A simple yet powerful online accounting solution for micro/small businesses – available in two versions, payroll for one employee or unlimited payroll.
MYOB PayDirect The first integrated payments solution with accounting software released in Australia, MYOB PayDirect allows businesses to take payments directly from their online invoices and check the status of an invoice instantly. MYOB Paydirect has changed the way small businesses manage their cash flow by ensuring they get paid quicker.
The direct integration with MYOB AccountRight and MYOB Essentials means that data is syncing in real-time, saving business owners hours per month on data entry and reconciliations.