3 Ways MYOB Advanced Has Disrupted The Mid-Market ERP Software Landscape

ERP software isn’t anything new.

According to a recent report by Research & Markets, the Global ERP Software Market is poised to grow at a CAGR of around 7.4% over the next decade to reach approximately $63.1 billion by 2025.

Many businesses use Enterprise Resource Planning (ERP) because it allows them to focus on one software to manage all aspects the organisation and get a consolidated view across departments and business units.

There are many aspects to consider when choosing an ERP solution for your organisation. Things like functionalities, pricing, Cloud or On-Premise deployment are all important factors that will affect our decision.

In this post, we are going review the three ways MYOB Advanced has disrupted the Australian mid-market ERP landscape and created value for businesses looking for the “right size” ERP software to grow smart.

MYOB Advanced is 100% Cloud-Based

MYOB Advanced is 100% based in the cloud. This means that there is no need to store any information directly on a computer or server. It saves space on company computers and ensures that everyone can access the information that is stored in the software program, regardless of where they may be located. It serves truly as a service (SaaS), which is unique in comparison to many of the other ERP software programs currently available.

There is no longer the need to manage expensive servers, which can reduce IT overhead considerably. It also grows with you based on monthly pricing plans. You don’t have to expand your servers as data expands – you simply need to increase your monthly pricing plan, all of which is affordable.

Partnered with Amazon Web Services, MYOB Advanced allows you to enjoy a best-in-class data storage, located in Sydney. It offers flexibility that you wouldn’t otherwise have.

Core Suite of Modules That Organisations Look For When Choosing A Mid-Market ERP Software

The core suite of modules gives you more features than you likely have available now. They’re designed for organizations looking for the right mid-market ERP software. Even if you don’t need all of the modules right away, they are there as you expand your business. Everything is scalable, allowing you to streamline your workflow. You can take advantage of inventory management, CRM, general ledgers, accounting support, and more.

You will have everything that is needed to manage your day-to-day operations. The functionality inside of the cloud ensures that you have access regardless of where you might be.

• The Financial Management module provides you with accounts receivable and accounts payable support, a general ledger, currency management, tax management, and more.
• The Inventory And Distribution module provides you with inventory management, sales order management, purchase order management, as well as requisition management.
• The Customer Management module is a full, working CRM giving you access to reporting and dashboards, opportunity and pipeline management, business intelligence, and integrated marketing. You will also have a customer self-service portal.
• The Project Accounting module also gives you access to project cost tracking, time and expense management, as well as advanced billing.
• Finally, the Payroll Management module will help you to stay compliant and save you time while being scalable and provide full unification.
• Business Intelligence & Reporting – Integrated reporting and dashboards give you real-time visibility into your business. These are the functionalities that most businesses love and trust to make informed decisions on the go.

It’s the Go-To ERP Choice For Many Mid-Sized Businesses

Outgrowing the current accounting package is a common challenge for many small and mid-sized organisations. The need for more functionality, more tools and better reporting capabilities pushes these organisations towards MYOB Advanced as an entry-level, mid-market ERP option. This is because MYOB Advanced has more to offer than a basic accounting package and is also more cost-effective than a “heavyweight” ERP software.

It should come as no surprise that MYOB is going against Netsuite. They have done a lot in order to position themselves to be the go-to ERP product. Andrew Birch, the general manager of industry solutions for MYOB, has identified that the company invests approximately $35 million per year in development. Finance, job costing, general ledgers, project accounting, and more are included in the Advanced version.

Birch also acknowledges that the SaaS-based solutions available on the market are highly fragmented. The only one that offers a cloud-based solution for the mid-market businesses beyond MYOB Advanced is NetSuite. Since NetSuite is considered heavyweight software, many organizations will skip it as an option.

Conclusion

The ERP software market is showing no sign of slowing down for the next foreseeable future.

Given the multitude of ERP software options available to Australian small and medium-sized businesses, it’s important to understand what makes MYOB Advanced uniquely positioned with regards to other software.

MYOB Advanced is purely Cloud-based, meaning businesses can enjoy the flexibility of a system that will scale as required. In addition, the software has several key modules that can be used to manage all aspects of a business from Finance to Distribution and more. Finally, MYOB Advanced is the optimal entry level ERP for business wanting more from their accounting solution but not quite ready to implement a “heavyweight” ERP such as Netsuite.

Contact Leverage Technologies today in order to learn more about MYOB Advanced and how you can take your ERP solution to a new level that is more powerful and more flexible.