MYOB Advanced is a popular ERP or Enterprise Resource Planning and accounting software that is intended to help businesses manage their financials and inventory on a cloud-based system. It is considered to be highly cost-effective and includes a number of features designed to streamline the accounting process for your business. MYOB Advanced can help your business with lead management, supplier management, distribution and the management of stock levels across a number of departments and locations. MYOB Advanced software can be easily operated through a self-service client portal with a highly intuitive design. MYOB Advanced even has the technology to create custom workflows to suit your specific business needs.
What can it be used for?
MYOB Advanced has a wide range of functions and uses including cost-tracking and operating as a general ledger for revenue. It also has a complete suite of reports for financial analysis, including GST and BAS reports. The system also includes a number of useful budgeting features and is capable of working across multiple countries for globalised businesses. The system features a comprehensive CRM to help businesses manage customers, clients and prospecting databases. Financial tracking for individual projects is also available; it is capable of breaking down specific tasks and tracking individual budgets. MYOB Advanced is great for enterprises with complicated distribution networks as it can help with purchase orders, tracking and inventory even across numerous warehouse and locations. It is also capable of maintaining a number of price lists and tracking different discount policies. The uses of MYOB Advanced are varied and many and it is a system that is suitable for even large enterprises.
What industries is it suited to?
The technology can be applied to a wide variety of industries and can be adapted for use by many different businesses. Some of the industries that it’s best suited to include agricultural and farming businesses, construction and building businesses, distribution and logistics, engineering, entertainment and leisure businesses, financial services businesses, information technology, not-for-profits, professional services such as accounting and legal services, manufacturing businesses, retail services, trade businesses and wholesalers. These are just some of the industries that this cloud-based system can be used for.
What outcomes can I expect?
Many clients can typically expect to see a number of benefits when implementing this software across their business including the ability to pull up reports much faster and make decisions based on analytics much more quickly. Many processes in the business can also be made much more streamlined and productivity can be improved. The software can also help to make financial management more efficient and comprehensive even across multiple workflows. It’s even possible for some financial processes to be automated with the software. Having everything located in one single ERP program can also help to reduce the cost of IT management and reduce complexity in the business. This software is also ideal for increasing visibility and oversight of data across the business. One of the benefits that many users appreciate is the complete end-to-end management of the supply chain and the cost savings available through the system. Many people also love that the software is cloud-based because it can be accessed anywhere at any time which means that productivity can be increased. It is also highly secure and can be backed up for peace of mind.
Is it right for my company?
When deciding on whether or not the software is right for your business it’s important to think about your business needs, budget and the level of support you require. It’s is great enterprise-level software but may not be right for smaller businesses.