Monday, 31 March 2014 14:50

MYOB brings new cloud offerings to market Featured

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Online accounting software provider MYOB continues to ramp up its cloud strategy, today releasing two new cloud solutions which it says make it easier for accountants to work closer with clients and manage their businesses with great mobility.

From its new Essentials range, MYOB has introduced its Essentials cashbook solution in the cloud – initially in pilot mode – enabling accountants to “allocate a client’s financial transactions for accounting purposes and manage the level of client involvement in this process.”

“Clients can work simultaneously with their accountant or take a hands-off approach,” says MYOB’s General Manager, Accounting Division, Adam Ferguson.

The second cloud solution released today by MYOB is AccountantsOffice ‘OnTheGo’ and Accountants Enterprise OnTheGo - a browser-based interface that enables accountants to access their practice management data from any web browser, including mobile devices.

{loadposition}Ferguson said the new release is the third mobile solution launched by MYOB in the past few weeks, after the Windows 8.1 companion app for AccountRight and MYOB PayDirect.

According to Ferguson the new products underscore MYOB’s focus on “making it easier for accountants to add value to client relationships.”

“As we signalled at our 2014 Roadshows in Australia earlier this month, in addition to expanding our cloud offerings to all businesses this year, we are supporting our partners to make wider use of cloud solutions and applications in the evolution of their business.”

For practices working with start-ups or simple businesses, Ferguson says the browser-based Essentials Cashbook is designed to improve the quality of data available to the practice and its clients, and give accountants the ability to manage client involvement.

“As every accountant knows, some business operators just don’t want to be ‘hands-on’ with accounting. This is the ideal product for those with clients who want a real-time insight into their cash position thanks to close support from their accountant or bookkeeper in maintaining their books.

“Our cloud solutions now account for more than 50% of our new product registrations. Essentials Cashbook adds to that offering as an attractive easy-to-use proposition for many small operators.”

According to Ferguson, products in the MYOB Essentials range take advantage of “industry-leading bank transaction feeds by MYOB BankLink” where bank transactions are automatically imported and coded into the accounting software. “Bank feeds remove the tedious task of manually entering numerous transactions and correctly allocating them in the reconciliation process, making accounting much more efficient.”

Ferguson says the MYOB Accountants Office OnTheGo and Accountants Enterprise OnTheGo solutions offer a range of features accessible from any device, including a quick real-time reference to key financial information, such as WIP and debtors balances. “It also provides the latest contact details for any client, integrated with Google Maps – valuable functionality if needed on the way to an appointment.”

Today, MYOB also launched its EssentialsAccounting solution which it says makes online accounting “even easier for those who are new to accounting and starting in business.”

This latest solution – announced at MYOB’s recent partner roadshows in Australia and New Zealand - is an advanced version of MYOB LiveAccounts and includes an enhanced feature set, updated user interface and a new API to enable add-ons as well as integration with other MYOB products.

MYOB’s General Manager, Business Division, James Scollay says, “Our vision is to make cloud accounting easy for every business. Easy for those just starting out, easy for those running on desktop software that want to move to the cloud, and easy for our partners who are increasingly requiring cloud offerings to evolve their businesses.”

“MYOB LiveAccounts was a key driver of our cloud accounting solutions, which now account for over half of our new client registrations. With MYOB Essentials, we’re delivering a fresh, innovative and intuitive client experience. Not only do we have a great looking product – it’s feature-rich and even easier to use.”

Scollay said the Essentials API enables add-on partners to integrate to, with and extend the MYOB Essentials product, enabling business owners and developer partners to “save time and increase efficiencies through seamless data integration with Essentials.”

According to Scollay, the proportion of MYOB’s cloud accounting clients using these add-ons has grown by 38% this year due to the AccountRight API, and continues to accelerate.

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