Home Business Software Competition concerns over MYOB bid to buy Reckon
Competition concerns over MYOB bid to buy Reckon Featured

A bid by accounting software firm MYOB to acquire another similar company. Reckon’s Accountants Group, could lead to a lessening of competition in this sector, the Australian Competition and Consumer Commission says.

The software that is sold by both MYOB and Reckon is used by accounting firms for tax returns, client accounting and practice operation.

“If MYOB acquired Reckon’s Accountants Group, it would likely be the only supplier of practice software suitable for medium to large accounting firms,” ACCC commissioner Roger Featherston said in a statement.

“If MYOB has a monopoly on this software, it would substantially lessen competition. We think there’s a significant risk for customers that prices will increase and service levels will decrease.”

The consumer watchdog said its initial analysis identified that medium to large accounting firms required advanced software features, such as flexibility in reporting, workflow, matter and customer management, advanced security configurations, and support for many users.

“The ACCC received feedback from the accounting industry that MYOB’s AE product and Reckon’s APS product are the only products that are capable of meeting the software needs of medium to large accounting firms,” Featherston said.

“There are other suppliers of this software, but market feedback suggests those products are less sophisticated, and that they are unlikely to be able to develop the more advanced functionality for several years at least.

“We also identified several barriers to expansion for other competitors. These include the time and cost to develop better functionality, switching costs for accounting firms, and a cautious approach from the industry towards changing to untested suppliers.”

The ACCC said submissions from interested parties in response to its statement of issues should be submitted by 13 April. A decision on the acquisition will be made on 30 May.

REASON TO CHOOSE TENDA MESH WIFI

Our Mesh WiFi system MW3 is the first in Australia market with price below AUD$200 for a set of three.

· Best valued product
· Strong signal covering up to 300m2 for MW3 and 500m2 for MW6
· Aesthetically pleasing and light weigh (blend into any room deco)
· Wireline backhauls supported
· Product units are pre-paired and easy to setup
· Not requiring phone number or email address to set up
· Wall penetration (better than other similar brands)
· Seamless WiFi roaming
· User friendly app with controls to setup a guest network, parental controls for disabling groups of devices you allocate to individuals, QoS and more

CLICK FOR MORE INFO!

LEARN HOW TO REDUCE YOUR RISK OF A CYBER ATTACK

Australia is a cyber espionage hot spot.

As we automate, script and move to the cloud, more and more businesses are reliant on infrastructure that has the high potential to be exposed to risk.

It only takes one awry email to expose an accounts’ payable process, and for cyber attackers to cost a business thousands of dollars.

In the free white paper ‘6 Steps to Improve your Business Cyber Security’ you’ll learn some simple steps you should be taking to prevent devastating and malicious cyber attacks from destroying your business.

Cyber security can no longer be ignored, in this white paper you’ll learn:

· How does business security get breached?
· What can it cost to get it wrong?
· 6 actionable tips

DOWNLOAD NOW!

Sam Varghese

website statistics

Sam Varghese has been writing for iTWire since 2006, a year after the sitecame into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

 

Popular News

 

Telecommunications

 

Sponsored News

 

 

 

 

Connect