MYOB call for end to "old-school" accounting

22 Aug 2013

Leading business solutions provider MYOB has called on Australia’s SMEs to modernise their operations and invest in technology that will increase productivity and efficiency. The call comes as the Australian Bureau of Statistics today revealsthat 1 in 7 (13.6%) SMEs do not even use basic IT for accounting processes.

“Today's findings reveal a huge opportunity to save time and stress is being missed by business operators who aren’t even using a computer, let alone cloud accounting, to maintain their books. The right system can significantly minimise manual data entry and errors while giving back time to invest into growing the business or enjoying life outside work,” said MYOB CEO Tim Reed.

“With all the tools available today, anyone can make their business life easier through technology.”

Mr Reed said business owners who recognise the potential of cloud solutions in particular are getting the jump on their competition.

“Cloud solutions have huge potential to help businesses grow and be more competitive, yet for many business owners the cloud is still a big unknown. It can make them and their team more mobile, providing ‘anywhere access’ that nurtures healthy collaboration. It also means the ability to hire or keep quality staff that may want to live across the state or country,” said Mr Reed.

Other findings from the ABS:

Financial activities (including online banking, invoicing and making payments) are the most commonly reported business internet activities by all businesses (85%)

Using the internet to allow staff to work from home is an increasing trend, particularly amongst micro businesses


Note to media: If you'd like further information or commentary from MYOB, please contact:

Angely Grecia, MYOB Public Relations Consultant

P: 02 9089 9071 / M: 0449 169 997 / E:

About MYOB Australia

Established in 1991, MYOB is Australia's largest business management solutions provider. It makes life easier for approx. 1.2 million businesses across Australia and New Zealand, by simplifying accounting, payroll, tax, practice management, CRM, websites, job costing, inventory and more. MYOB provides ongoing support via many client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly in cloud computing solutions, and now spends more than AU$30 million annually on research and development. In 2013, MYOB expanded its offerings with the acquisition of accounting solutions provider BankLink. For more information, visit