Accounting software provider MYOB has announced a swathe of changes to its cloud accounting products and launched several new mobile apps at an event in Auckland this morning.
MYOB announced a new product line-up, extensions and changes to its product names – and took a few swipes at rival Xero along the way.
Emphasising ease of use, CEO Tim Reed said MYOB is "upping the ante". The changes will expand MYOB's cloud offerings to all businesses, from micro to mid-sized.
He added that MYOB had heard customer complaints about the speed of its online systems and responded. He showed what he said was a benchmarked workload running against Xero, with MYOB the fastest. A direct price comparison followed, showing that MYOB offers better value.
In early April, MYOB will launch the MYOB Essentials range, replacing its current LiveAccounts product, consisting of two options.
First is Cashbook, available exclusively through MYOB partners, which enables accountants to allocate a client's financial transactions for accounting purposes while managing the level of client involvement.
Second is accounting, a richer version of the browser-based accounting solution MYOB LiveAccounts with an enhanced feature set, updated user interface, and API providing a network of add-ons and integration.
Admitting customers had found MYOB's old product names confusing, Reed said a similarly redesigned AccountRightLive will become AccountRight.
MYOB will also launch a mobile payments solution, MYOB PayDirect, in limited release in Australia in the first quarter and in New Zealand in the second half of the year. This is a free mobile app enabling business owners to take payments, send receipts, and manage their invoicing and contacts.
The app has two modes: Payments only, for accepting customer payments while on the road; and AccountRight Live integrated for managing invoicing, contacts, and payments.
MYOB also announced that it will de-couple payroll from MYOB Essentials Accounting in Q3 to cater for solo operators wanting a simpler solution. A new version of payroll will then be made available as an add-on.
MYOB announced that it will launch a mobile solution for the company's accountant clients, MYOB Accountants Office OnTheGo and MYOB Accountants Enterprise OnTheGo in the first quarter. These are browser-based interfaces that enable accountants to access their practice management data from any web browser,