New all-in-one business management platform launches in NZ

MYOB’s new SaaS platform, MYOB Business, offers a completely reimagined cloud platform for SMEs of all sizes.

With a more flexible, modular approach designed to improve efficiency and ensure businesses are paying only for the software they need.

MYOB Business consolidates MYOB’s existing cloud SME product lines on a single SaaS platform, allowing customers to seamlessly move between subscription plans as their business evolves, and configure their business management solution in a way that’s right for them.

Supporting business growth

The platform also helps to reduce ‘subscription overwhelm’ for local business owners. MYOB’s recently released Digital Disconnection research has highlighted that, while local SMEs have been digitising rapidly over the past few years, boosting both performance and resilience, around half of New Zealand SMEs have digital tools they are not using. The cost and limited capability of these underutilised tools is increasingly becoming a barrier to further digital adoption – especially as financial pressures increase.

MYOB Business allows SME owners and managers to add functions and features based on their needs, regardless of size. From new start-ups and sole operators, to growing SMEs with more complex business management needs, businesses only ever pay for what they use, while having access to the features that are tailored to their stage of business. The platform is also designed to integrate easily with other applications SMEs may need as their business evolves.

Powerful new features

The all-in-one platform also includes the addition of two new features – Payroll Premium and the much-anticipated, Inventory Premium.

The new Payroll Premium feature is designed specifically with New Zealand SMEs in mind, with cloud capabilities making tasks such as paying employees, managing leave, KiwiSaver calculations and IRD reporting, effortless. The new payroll offering also automatically stays up to date with tax, reporting and compliance changes, reducing the time and cost of compliance for local business owners and operators.

Inventory Premium is MYOB’s first cloud-based inventory management offering for small businesses. Goods-based businesses can improve efficiency, reduce costs, and increase cashflow, while enjoying the benefits of an enterprise-grade inventory product, but at a fraction of the cost.

Inventory Premium takes the guesswork out of managing inventory, by showing the cost of carrying stock, the margins being made on each product, and appropriate stocking levels. The low-cost solution provides SMEs with the ability to track and control inventory from anywhere, anytime, and on any device.

Inventory Premium also includes a range of new features, designed specifically for the needs of local SMEs. Businesses can track inventory items, making it easy to see the quantity of stock-on-hand, average cost of products, and the total inventory value. Using pre-set details on invoices and orders, businesses can record inventory items as they are bought and sold, streamlining sales and purchases. The adjust inventory feature also lets businesses adjust stock quantity and value in real time, as well as allowing them to cater for shrinkage and re-evaluation of inventory.

MYOB has focused on managing stock and suppliers as one of the key business processes that, if digitised properly, can really make a significant difference to an SMEs’ chance of success. The cloud-based feature ensures business owners will always know what’s in stock at any given time and what it’s worth. This means they can better forecast for seasonal events or sales periods, adjust pricing accordingly, and avoid the risk of overselling which in turn keeps customers happy.

Choice of plans

Five subscription plans will be available to SMEs as part of the new MYOB Business platform. These include Lite – which offers core business features for smaller businesses, while providing room to grow, and Pro – for rapidly growing businesses. There is also a payroll-only product available, while Payroll Premium and Inventory Premium can be added to any Lite or Pro subscription.

AccountRight Plus and AccountRight Premier are included within the MYOB Business platform, complete with existing functionality for more complex businesses. MYOB is also continuing its investment in the browser experience for the AccountRight products.

Processes that matter

The MYOB Business platform has been developed to focus on the processes that matter most for SMEs – from managing stock and paying their people, to streamlining compliance and increasing visibility across the whole business – all from a single, expanding platform.

MYOB Business makes accessing the right solution for the needs of their business simple, with business owners and their bookkeepers and accountants able to benefit from increased functionality, a clear view of business performance and the opportunity to collaborate in real-time on a single cloud platform.

Ultimately, MYOB Business is designed to allow local SME owners and operators to spend more time on growing their business and focusing on the things that bring them greater value, productivity and efficiency.

New customers can try MYOB Business for free for 30 days, plus 50% off their first three months of a MYOB Business Pro or Business Lite subscription. 

For more information visit:  www.myob.com/nz/accounting-software