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As an organisation grows, the need for more powerful management tools increases. More staff, more revenue and more suppliers to pay all add up to headaches for business managers, unless they have the right systems and processes in place to handle them.
While MYOB Business is the go-to solution for most organisations with less than 20 full-time employees, larger or particularly complex businesses should consider MYOB Acumatica to best fit their needs.
If you’re a growing organisation, understanding what’s on offer in MYOB Acumatica could save you a lot of time and expense down the track.
MYOB Acumatica is a cloud-based enterprise resource planning (ERP) system that connects critical business functions in one single platform, reducing reliance on manual processes and providing accurate insights in real time. And it’s designed to scale with ongoing growth.
That’s because MYOB Acumatica has been designed to address the key challenges faced by today’s mid-market organisations, says Valantis Vais, head of product, Enterprise, for MYOB.
“At the core of all businesses there are six, key, overarching business workflows,” said Vais. “They are: generating revenue, managing suppliers, managing your staff, managing work in progress, managing your cashflow and, finally, managing compliance.”
Bringing together these key workflows along with associated information and data into one all-of-business platform, MYOB Acumatica enables mid-market businesses to easily track and forecast inventory, streamline sales and purchasing, and manage projects and financials in real time.
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MYOB Acumatica key features & benefits
The following features, their associated uses and benefits are all on offer within MYOB Acumatica.
Financial management
Handle complex financials across structures and locations
Gain real-time visibility and minimise manual data entry
Browse customisable and comprehensive reporting and analysis
Structure accounts with organised segments
Create role and access permissions
Inventory management
Multiple sites, staff and equipment issues, sales and purchase order management
Compare physical and counted stock
Use multiple methods of billing including time and materials
Select different valuation methods for each inventory item
Adjust costs and physical inventory from inquiry and report screens
Project accounting
Real-time tracking and management of billing, time and expenses
Have your employees, partners and contractors log timesheets anytime, anywhere
Flexible billing arrangements let you bill materials and labour based on the type of work performed, project requirements or customer
Manage projects with a single location needed to track all costs, revenues and budgets
Manage account processes accurately and efficiently
Customer management
Provides a total view of your customer data
Manage marketing, quoting, sales, post-sales support and customer information
Dashboards and reports provide real-time sales data to help manage forecasts
Efficiently communicate with customers through the Customer Portal.
Built for industry
MYOB Acumatica supports a range of industries with specific capabilities including manufacturing, construction, wholesale, distribution and field service management
Our team also includes industry experts that can help make certain our customers have their specific needs met
Business intelligence
Total accessibility — access your information in one central place
Custom reports allow you to drill down into the details quickly and easily
Better informed decision making, with easy access to real-time information whenever you need it
Gain a 360-degree view of your business to ensure interdepartmental transparency
Configurable search to find the information that is important to your organisation
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Who is MYOB Acumatica for?
Operations best suited to adopt MYOB Acumatica are typically bringing in more than two million dollars in revenue per annum, and have 20 or more full-time employees in Australia or New Zealand.
“We have tailored MYOB Acumatica for you as ambitious Australian and New Zealand companies rather than trying to be a global generalist,” said Vais. “We have local support and unparalleled local expertise.
“This means whether you’re speaking to our sales, customer success or support teams, you are speaking to someone who understands your industry and local nuances.”
More specifically, businesses who consider MYOB Acumatica will be looking to improve the following in their current IT setup:
Software speed and ability to derive insights fast
Accurately track costs and revenue at any time
Comprehensive financial reporting
Analysis reporting including GST and BAS
Enhanced financial and budgeting functionality
Managing multiple locations, multiple currencies and countries
Project management and customer relationship management
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Industries best suited for MYOB Acumatica
Agriculture
Construction
Distribution
Engineering
Entertainment
Financial Services
Information Technology
Manufacturing
Distribution
Not For Profit
Professional Services
Retail
Trade Services
Wholesaling
What results can I expect from using MYOB Acumatica?
“The reward for those who implement MYOB Acumatica includes increased revenue, decreased cost, reduced risk and the most precious commodity of all: a reduction in the amount of time spent performing repetitive, low-value tasks, enabling you to focus on building the business, not working in it,” said Vais.
For ActivTec Solutions’ quality manager, Nandish Trivedi, MYOB Acumatica created clear efficiencies for his organisation by bringing all critical functions together in one place.
“Everything is linked — sales, purchases, inventory, accounts, finance, payroll — so from a business perspective, we can see that every department is getting more efficient. That means, overall, the business is operating and performing more efficiently too,” Trivedi said.
Typical results for new adopters of MYOB Acumatica include:
Faster decision making enabled by advanced and real-time reporting and insights
Greater productivity as a result of streamlined workflows and automation
Overall reduction in IT management costs incurred by outdated systems
Reduced risk in supply chains and compliance
Enterprise-level data security and storage
“MYOB Acumatica is also a smart platform,” said Vais. “As you digitise your workflows, a smart platform does more than facilitate what you do today.
“We help you benefit from advancements in machine learning and AI.
“As a cloud solution, you can utilise these new technologies across your workflow either to automate repetitive tasks or drive better decision making.”
How much is MYOB Acumatica?
Because MYOB Acumatica is tailored to an organisation’s specific needs, pricing depends on what requirements you have.
MYOB Acumatica is billed as a straightforward and convenient monthly subscription, with no hidden fees.
Is MYOB Acumatica for you?
If you’re managing a growing business and contending with an increasing level of complexity in your systems and processes, it’s time to consider MYOB Acumatica.
Regardless of what industry you’re in, MYOB has brought together all the key functionality and features you need to get things running smoothly again, and get your staff operating at their true potential.
Still not sure how MYOB Acumatica stacks up? You can find out more here.
