6th October, 2022
Managing stock is a critical element of doing business for a wide variety of operators. That’s why we’re excited to announce the release of Premium Inventory in MYOB Business.
Trading physical goods may be considered one of the oldest and simplest methods of doing business, but as any merchant, retailer or distributor will tell you there’s a lot more to it than meets the eye.
Especially in today’s fast-paced market, where customers have higher standards (and less patience), than ever before.
At MYOB, we want to offer our customers powerful solutions that also simplify their relationship with technology, which is why we’re excited to announce the launch of our new Premium Inventory offering.
Our latest business management platform, MYOB Business brings together a comprehensive set of online solutions, sporting an easy-to-navigate interface with features split out into pricing tiers. The result is a scalable platform enabling business operators to track their key financials, manage taxes, raise invoices and more from any device, anywhere.
And, with the new addition of Premium Inventory, now MYOB Business is ready to support goods-based businesses.
Premium Inventory for MYOB Business adds premium features for new and existing MYOB Business customers who want to track, buy and sell physical goods.
Designed for small businesses, Premium Inventory for MYOB Business will allow you to create and manage products, storing relevant details against each item, such as its stock keeping unit (SKU) number, description, price and cost details, and more.
Having inventory so tightly integrated with your business management platform enables you to gain benefits arising from data visibility and speed.
Take back control with real-time oversight of your stock movements and sales. With better inventory management, you can avoid stockouts, overordering or other related wastage.
Better visibility into costs and the speed at which stock turns over, you’re better able to forecast for seasonal events, sales periods and adjust pricing and special offers accordingly.
Make end of year tax processing faster and simpler with integrated inventory management. Quickly assess, audit and complete key tasks like stocktake faster than ever before.
Once you’ve added Premium Inventory to your MYOB Business platform, you’ll gain access to the following features, right out of the gate:
At an entry level, you can add Premium Inventory to MYOB Business for free, giving you the full feature set for use on up to 10 items. Alternatively, you can unlock limitless items in Premium Inventory with a fee of just $22 per month.
Inventory management for MYOB Business hasn’t launched with sales orders, backorders and stocktake features, but we are working on bringing these into the software in the near future.
We are working to integrate stock-on-hand with third-party integrators for eCommerce and POS providers over the coming weeks.
We will also be looking to add further integrations to support goods-based trade, including third-party logistics providers and shipping carriers in the months ahead.
Use the MYOB App Marketplace to discover more ways to extend or customise your business management platform.
This feature set is currently designed for best-fit for retailers and merchants stocking high-value items in relatively low quantities, such as a furniture specialist retailer. However, this will change as we continue to add more features over the coming months.
Sign up for added insights and business-critical news from MYOB.
If you’re an existing MYOB Business customer looking to better integrate inventory into your business management platform, or you’re considering MYOB for your retail management needs, inventory management for MYOB Business could be the solution for you.