It’s the final element in a three year $75 million plan to develop a MYOB cloud footprint for Australia and New Zealand. Mid way through the initiative to develop a Software as a Service capability MYOB was bought by Bain Capital in a $1.3 billion deal sealed in August 2011 which has provided additional capital for growth over the last year, and extend its contact centre operations to be round the clock, seven days a week in order to better support cloud users.
While AccountRight Live isn’t the firm’s first cloud foray –it is its most important as it offers its core user base (just under 1 million companies with 5-20 employees in Australia and New Zealand) a cloud based MYOB alternative. It will also allow the company to compete in the cloud with alternatives such as Reckon, Intuit’s Quicken, even Xero which is sold through Telstra’s cloud services business.
The microbusiness cloud solution, MYOB Live Accounts is targeted at businesses with fewer than five employees. That service is hosted in Australia out of a single local data centre.
AccountRight Live meanwhile which is targeted at companies with 5-20 employees is being hosted in Microsoft’s Azure cloud out of the company’s Singapore data centre.
AccountRight Live is the final piece in the company’s three year $75 million programme to develop a cloud presence.
In 2010 it launched MYOB Atlas, a micro business web site service along with MYOB Live Accounts targeted at micro businesses.
However for the almost 1 million MYOB customers in the 5-20 employee bracket, Account Right Live is the first time that they will have had access to the full range of MYOB tools on a subscription basis.