Before we dive into the world of ERP systems, let’s take a closer look at MYOB Business (previously known as AccountRight) to determine if it’s the right fit for your business. When starting a business, it is common for the business decisions to be based predominantly on cost. Accounting software, such as MYOB Business, Xero or NetSuite, are inexpensive and provide a basic, easy-to-use accounting functionality that is suitable for small businesses.
So what can you expect from MYOB Business (or other basic accounting systems)?
Accounting functionality
Payroll and timesheets
Invoicing
Tax and GST
Reports and basic budgets
General expenses
Inventory basic
Bank reconciliation
Multi-currency capabilities
Available online and offline
Pricing is suitable for a few users in small businesses (includes payroll)
Why do I need to upgrade if I already get all those benefits?
While MYOB Business provides basic functionalities, it can be quickly outgrown as your business grows and becomes more complex. A particular concern is MYOB Business’ lack of security surrounding your sensitive financial date… all your users can see just about everything in your accounting system.
MYOB Business is a generic product, which lacks functionality and is restricted in the level of customisation available to meet your unique business requirements. Therefore, you may be forced to compensate for these gaps in your system with manual workarounds and reliance of disparate software to help you bridge those gaps.
Running a successful business requires more than just accounting software- it demands comprehensive solutions that empower your entire team and streamline workflows to unlock your business's full potential. This is when you should consider upgrading to a fully integrated and powerful ERP system such as MYOB Advanced
Introducing MYOB Business Advanced
MYOB Business Advanced is a cloud-based application that builds upon MYOB Business’s foundation while offering additional features designed to evolve with your business. It is a fully customisable system that can provide you with real-time business insights to help you achieve your business goals.
MYOB Business Advanced offers several features:
Advanced inventory and supply chain management
Warehouse and manufacturing management
Comprehensive project management
Payroll management
Easy financial management with multi-currency options
Customer Relationship Management (CRM) integration
Customer portals for improved self-service
Highly scalable system with unlimited transaction volumes and departmentalised financial reporting systems
Customisable dashboard and reporting tools
Mobile application and remote access allow you to access your data anywhere, anytime
Customisable reporting and analytics
Seamless integration with other software and webpages including BI
Two-factor authentication and automatic backups for enhanced security
Role-based security and delegated authority workflows
Configurable workflow engine for automation
Regular, automatic updates with no downtime
Monthly subscription model for cost effectiveness
We can help choose the right system for your business
At Integrated Logic, we understand that your business requirements change as your business grows. Your software solution should push your business to thrive rather than just survive, and to do this requires the right software. Whether it's MYOB Business Advanced or another tailored solution, we've got you covered.
Ready to explore your options? Check out our website or contact us today!
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