Improvements planned for 2011 include the addition of a payroll calculator and a mobile interface. The latter could be especially useful for tradespeople and others whose work takes them out and about.
An important part of MYOB's cloud strategy is that once user's data is stored online, it is possible to deliver additional services around it.
For example, more than 110 banks and financial institutions provide transaction data feeds to LiveAccounts, and the software includes a pattern-matching capability to automatically reconcile transactions, including the ability to automatically split allocations (eg, when phone and Internet use are billed together).
Keeping data in the cloud makes it easier for accounting and bookkeeping firms to provide services to their clients. "It will ease the friction in getting the data form one place to another," said Molloy, and will provide them with an opportunity to change the basis of their client relationships from compliance to business advice.
It is possible that prices will fall as a result of simplifying access to data, or clients may receive more valuable advice for the same money, he suggested.
There's more to come - please read on.