Accounting Business


20th February, 2019

MYOB sets sights on payments ahead of Accounting Business Expo

With another jam-packed Accounting Business Expo just around the corner, online accounting software leader MYOB demonstrates its developments in the payments category.

The accounting and bookkeeping industry continues to undergo rapid evolution as new tech disrupts the traditional ways of working.

So it’s little surprise that independent industry events like the Accounting Business Expo (ABE) continue to draw large crowds seeking the latest information on tech, trends and forward-thinking strategies.

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It may involve a flight to Sydney and a reasonable amount of walking and talking on the day, but MYOB Head of Partnerships Simon Dennis says ABE represents a singular opportunity for learning.

“The Accounting Business Expo brings together all of the major software companies as well as a broad variety of specialist accounting ecosystem solutions,” said Dennis.

“The sheer scale of tech and information presented at the expo will mean there’s something for all tiers of partners: from solo bookkeepers and accountants right up to pinnacle firms and corporate accountants.

Show Director Laura Venables says the expo will offer a surprising amount of flexibility for anyone who hasn’t attended in the past.

“The flexibility this type of event offers in being independent and free to attend is amazing. Everyone who’s anyone is here: the major software providers and supporting ecosystem partners, through to associations, vendor, banks and startups,” said Venables.

“Attendees can come down for two hours or for the full two days – it really is all about flexibility, choice and leveraging opportunities.”

Educational content at ABE also includes a number of roundtable discussions, with event organisers spruiking the sheer volume of content on offer reaching the equivalent of 88 Continuing Professional Development (CPD) hours (although you’ll need a time machine to draw 88 hours from the two-day event).

“My favourite part of ABE is that it attracts attendees with a progressive mindset, or they’re experiencing challenges for which they hope to find specific answers – they’re the type of people who are open to hearing new things and that makes this a great show for us to attend,” explained Dennis.

“This year’s event covers such a broad array of content across 12 conferences,” said Venables. “There’s so much to see and do at the expo that it may even seem overwhelming if you don’t take time to plan ahead.

“Following the Royal Commission, ABE will offer practical advice on how accountants can add financial planning to their service offering.

“Data-driven business advisory is also a big topic this year, along with the latest approaches and concepts for using intelligence tools and how they can be used to provide insights for SMEs  and the automation of compliance piece is bigger than ever this year.”

Bold news from MYOB

Dennis will be among the 120 industry experts to speak at ABE, and attendees can look forward to hearing some surprising developments from Australia and New Zealand’s leader in online accounting software.

“I’ll be sharing a presentation that reveals where MYOB is going beyond the run of product updates on display at our stand,” he said. “Don’t underestimate it, we’ve got a lot of new things to showcase on the expo floor – and we’d encourage everyone to join us new and hear of all the exciting announcements we recently released at our INCITE roadshow events.”

But it’s MYOB’s developments in the payments space that Dennis is particularly keen to discuss with attendees, which he’ll share in some detail during his presentation.

“MYOB has committed to making significant investments in the payments market into the future,” he said.

“Payments is currently a $2.1tn industry in Australia alone and the big opportunity for accountants and bookkeepers is the $638bn in small business payments.”

Of that $638bn of small business payments, Dennis says around $200bn is already being posted to an MYOB ledger and this places the company in a unique position when it comes to helping accountants and bookkeepers make their mark in payments advisory.

READ: Payment solutions advisory is critical to The Connected Practice

“By 2022, the local payments market will have grown to around $2.7tn – the growth in this market is phenomenal,” he said.

“Traditionally, getting businesses paid faster has not been a conversation accountants and bookkeepers can weigh in on. But with this new, digital world of ours, innovative payment solutions are opening up that discussion point among these advisors.

“We believe we’re changing the game in the four key payments areas of: accounts receivable, accounts payable, payroll payments and enterprise payments – there really is something for everyone in that sense.”

According to Venables, who recently attended MYOB’s product roadshow, INCITE 2019, attendees will be impressed to hear what the brand has in store for payments.

“I know Simon is super pumped to share his thoughts on payments and payments advisory,” she said.

“The size and scale of the payments industry represents a huge opportunity and I feel Simon and his team are very proud to be leading the change.

“We love giving companies like MYOB and others the platform to share their news and game-changing opportunities for the industry – it’s going to be a great event!”

Simon Dennis will present a discussion on ‘Payments: The Next Great Advisory Opportunity’ from 1.30-2pm on Wednesday, 20 March.

Senior Product Manager for MYOB Tobi Heskett will also be presenting a talk on ‘Automation, Integration and the Future of Compliance’ from 11.15-11.45am on Thursday, 21 March.

For further information and to register your attendance, visit the ABE website today.