MYOB Exo Review

MYOB Exo is an on-premise or privately hosted Enterprise Resource Planning (ERP) system. When MYOB merged with Solution 6 in 2004, the product known as Exonet became MYOB Exonet, and then later MYOB Exo. MYOB also purchased Commacc Payroll and repositioned their solution as MYOB Exo Employer Services, the integrated payroll solution for MYOB Exo. Since then, MYOB have continued to develop the product to meet the needs of midmarket Australian and New Zealand businesses. MYOB has a range of products dedicated for larger more complex businesses. Consider our MYOB Advanced (Acumatica) Review if you are looking for a SaaS cloud-based system to manage your organisation.

Where to look for information about MYOB Exo?

It can sometimes be difficult to find unbiased information about MYOB Exo, despite its longevity in the market. We do believe that MYOB Exo is a great piece of software, but we also understand the organisations and industries it has been designed for. There are many success stories which you can find in our MYOB Exo case study section.

Kilimanjaro Consulting’s MYOB Exo Review aims to be as transparent, objective, and honest as possible, so that you can evaluate the ongoing role of MYOB Exo in your business. This MYOB Exo Review is split into the following sections to help better navigate through the information

• MYOB Exo features breakdown
• Comparing MYOB Exo to other ERP Packages
• Differences Between Off-The-Shelf, Configurable and Customisable Software
• Integrated Systems vs. Best of Breed
• What does MYOB Exo cost?

How do you choose the right solution for your business?

As your business grows and becomes more complex, you need the right software to support your changing operations. A basic, “off the shelf”, “out of the box” , “pre-configured” or one size fits all accounting package will struggle to keep up with your growing complexity and needs. A system that is a poor fit will leave data disconnected in siloes, requiring manual duplication or triplication to keep everything up to date. This is a significant effort, prone to errors and compromising visibility and overall organisational health.

There are many factors that contribute to choosing the right system, and there are a few key steps you should take:

• Engage an experienced, trusted software implementer,
• Prepare for your business management consultation,

Powerful ERP systems, like MYOB Exo, can manage:

• Compliance workflows
• Multiple entities,
• Multiple locations,
• ABN/NZBNs,
• Complicated projects and job costings,
• Fixed Assets,
• Integrations into a range of third-party or add-on products,
• Customer relationships,
• Intercompany transactions,
• Growing supply chain networks

Engage an experienced, trusted software implementer

It is best to seek the advice of the experts when deciding if MYOB Exo is still a good fit for your organisation. They will assess your complexities and match them with the capabilities of MYOB Exo. Trust the advice of an experienced implementation partner. A partner that is concerned and focused on your long-term growth will identify areas of the software you may not have considered such as:

• Security and compliance,
• The risks of a new system implementation for your organisation,
• The role of the cloud in modern business,
• Scalability and customisation,
• Vendor reputation, and software feature roadmaps,
• Training, testing, and support, and
• Current user experiences, feedback, and testimonials.

Get a free, no-obligation software assessment from one of our expert consultants. You can talk to them about your pain points and desires for improvement. They will evaluate your requirements and advise if a Saas Cloud-based system such as MYOB Acumatica (formerly MYOB Advanced) is the right fit for your organisation.

Preparing for your business management consultation

There are additional ways that you can prepare your business for these initial consultations:

• Prepare a software budget. An ERP implementation can be an expensive (albeit rewarding) project. Planning and budgeting for the full implementation before commencing is a wise and prudent step in a successful implementation.
• Identify your pain points and requirements. Ask why you need a new system, as well as which processes could be improved and made more efficient even without a new system. Clearly identify the specific problems you face, let the experience and skill of your software partner guide you to the solution.
• Map workflows so that you can effectively communicate your unique organisation’s processes. This ensures that every part of your business is being evaluated for the viability of the implementation.
• Identify any legacy or satellite systems you use to manage your business. They may need to be integrated or replaced by the new system as part of the implementation.

Is MYOB Exo still a good fit for my business?

MYOB Exo is for medium-sized businesses that have outgrown small-business accounting software. It has a robust suite of accounting and financial management features as well as the ability to integrate data across your entire organisation.

MYOB Exo forms the bridge between Tier 3 and Tier 2 companies. Its sweet spot is for businesses with between than $6million and $500 million  annual revenue and more than 20 employees. These are averages, you may find that your organisation is well suited to  MYOB Exo, despite your size or revenue figures.

It is unsuitable for small businesses as the majority of functionality is unnecessary and the costs are too high. Small businesses will be better off using out of the box accounting systems such as MYOB Business to manage their finances, and then transition to an ERP system once they have grown to a sufficient level. On the other hand, larger companies that require segregation of responsibilities and compliance accounting would likely find MYOB Exo too restrictive and inflexible. They are better served with more specialised systems that can be configured to meet their specific needs. More complex systems by their nature require greater investment in implementation.

MYOB Exo is a good fit for:

• Management teams that want a clear picture of their organisation’s health,
• Teams that are struggling with manual processes and need integrations to support efficiency improvements,
• Wholesale, Distribution, Importing, or Retail companies who want total control of their supply chain, inventory, multiple warehouses, and shipping processes from a single integrated platform,
• Project-centric organisations who need connected support for project accounts, job costing, customer relationship management (CRM), and expenses, to improve profitability and efficiency,
• Discrete manufacturers and companies with light manufacturing requirements as part of a wider, more complicated workflow,

MYOB Exo is a poor fit for:

• Small businesses that do not require  the complexity of MYOB Exo’s functionality,
• Extremely large organisations that require a more bespoke custom solution,
• Organisations that are looking for a cloud-native platform,
• Large-scale manufacturing operations, especially for process manufacturing.

The benefits of a local software system

MYOB Exo was developed to meet the needs of mid-sized ANZ businesses; those who need a robust suite of accounting and financial management features as well as the ability to integrate data across their entire organisation. MYOB Exo is reliable, stable, and robust. It has existed and thrived in the market for many years and is a proven system that many organisations have used to improve efficiency. It can be privately hosted in the Cloud.

There are many benefits to using a system that has been designed for your local region. All the idiosyncrasies of doing business in Australia and New Zealand will be familiar to you, but not to overseas vendors. Their systems are not built to reflect the complexities that a local provider is more familiar with.

MYOB is a trusted local vendor who have the benefit of working closely with local government bodies like the ATO, IRD and more. Overseas vendors will not prioritise compliance and legislative requirements in the same way that a local vendor can.

A local software option is the low-risk approach. You will not have to worry about workarounds or manual process for requirements such as:

• Business Activity Statement (BAS) support.
• Goods and Services (GST) tax
• Cash vs accrual GST
• Unique ANZ payroll requirements
• Changes in Legislation Terminology is also different between ANZ and the rest of the world.

Small differences in language such as “stock” and “inventory”, “Dunning Letters” and “bills” can disrupt your process and confuse your team. Seeing terminology that is more familiar to ANZ users eliminates much of the pain of learning a new system.

Microsoft SQL and MYOB Exo

MYOB Exo relies on Structured Query Language (SQL) databases for the foundation of its data management and manipulation:

• MYOB Exo Business uses a SQL database to store all the information related to the business operations. This includes customer details, product information, financial records, transaction history, and more. SQL provides a structured and efficient way to organise and access this data.

• SQL is used as part of your interface with MYOB Exo to retrieve, update, insert, and delete data within the system. Users can also execute specific SQL queries to generate custom reports, update inventory levels, or process transactions.
• SQL enables customisation and integration capabilities within MYOB Exo Business. You can create custom queries and functions as well as integrate MYOB Exo Business with other systems or applications, allowing seamless data flow between different parts of the business.
• SQL plays a crucial role in optimising the performance of MYOB Exo Business. Database administrators can utilise SQL indexing, query optimisation techniques, and other performance tuning methods to ensure that the system operates efficiently, even with large volumes of data and complex operations.

SQL knowledge is not required for everyday use of MYOB Exo; however, it can be helpful for making customisations, building custom reports, and understanding what drives MYOB Exo.

Despite being introduced in the 1970s, SQL remains an established language to manipulate databases. MYOB Exo’s reliance on SQL does not compromise its longevity or lifespan in the current market. SQL will continue to support MYOB Exo into the future.

How to ensure long term success with MYOB Exo

Long term success with MYOB Exo starts with the implementation. The goal should be to get the implementation right the first time, with an implementation partner that understands the three goal states:

1. Current State: Identifying and understanding current workflows within the organisation.
2. Future State: Exploring the benefits of your software and the changes required to improve your efficiency.
3. Ideal State: The combination of the previous states, delivering MYOB Exo Business to match your business requirements.

In general, MYOB Exo is best suited to midsized businesses that require powerful financial management tools with robust inventory, job costing, and business management functionality.

Just as the selection and implementation of software is crucial for long term success, so is your software implementation partner. Your chosen partner should have:

• The skills and experience to customise MYOB Exo to meet your requirements, with dedicated support and training options available for the life of your partnership,
• SQL knowledge to perform advanced customisations and optimisation as your organisation’s requirements change – ensuring MYOB Exo can continue to support your needs long into the future,
• A strong risk-management strategy, so that you can be confident that everything will work properly over the long term, especially considering future MYOB Exo updates that could affect previous customisations,
• Knowledge of MYOB Exo’s API as well as the ability to build additional endpoints and accommodate integrations into your system,
• A strong relationship with the vendor, MYOB. Their influence can motivate future development, as well as advanced notice of major system changes and updates.
• A commitment to supporting MYOB Exo for its entire lifecycle.

Like any complex order or project, it is far better to do right the first time. Money and time spent on rectification far exceed the cost of doing it right the first time.

Choosing the right MYOB Exo implementation partner is as important as choosing the right software. Because this is a lifetime partnership, organisations should be aware of the “implementer risks” before making a large investment. Implementer risk permeates the entire implementation process it is critical to choose an implementer that can support your through the entire software journey. With the right partner, ERP implementation should flow on to ongoing support and Business Process Improvement (BPI).

You may not have done it before, but we have

The Kilimanjaro Consulting team are experts in taking a low-risk approach and prioritising your business needs, resulting in a successful implementation and long-term success with MYOB Exo. We are the largest and most experienced implementer of MYOB Exo across Australia and New Zealand.

The Kilimanjaro Consulting team follows and embodies the #ClientFirst approach. We put your needs first. Our skilled, low-risk implementers have helped countless businesses overcome their challenges through the use of clever, innovative and proven technology. We the time to truly understand your organisation and customise MYOB Exo to meet your requirements. The Kilimanjaro Consulting team is proud to be the longest serving MYOB Diamond Partner, and MYOB’s Number 1 partner.

Even if your MYOB Exo site was not implemented by our team, we can still offer premium MYOB support services as well as MYOB Exo integrations and customisations.

Cloud solutions for bigger businesses

Today MYOB offers a variety of different options for medium to larger business including sophisticated SaaS cloud solutions. MYOB Exo is a robust and established market offering for ERP systems but it is towards the latter end of its lifecycle.. Kilimanjaro Consulting has the expertise and experience to implement and support MYOB Exo clients. When your business requirements have changed to the point where a new system is required, many businesses are opting for MYOB Advanced as a modern, cloud-based business management system.

MYOB Advanced Business (Acumatica) is a cloud-based enterprise resource planning (ERP) system. It is a localised version of Acumatica, the fastest growing ERP system in the world, that has been configured by MYOB for Australian and New Zealand organisations. MYOB Advanced provides organisations with a comprehensive set of tools for financial management, supply chain management, project management, customer management and more. The software is designed to streamline and customise business processes, automate tasks and other business events, and provide real-time insights into key performance indicators (KPIs). It is suitable for large, complex organisations and can be customised to suit your specific requirements.

MYOB Exo in the cloud with ExoHosted

ExoHosted bridges the gap between on-premise and the cloud, giving you reliable, remote access to your MYOB Exo from anywhere and at any time.

ExoHosted represents the next step in accelerating your business to heights previously unimaginable and at a reasonable cost. It is a service managed and operated by Kilimanjaro Consulting’s MYOB experts. We understand the MYOB Exo framework and have optimised the cloud-based platform to support your database in a stable manner. You can rest assured that our servers are in a highly reliable, modern, secure and automated environment managed by our hosting division. Accessing MYOB Exo online increases its flexibility and accessibility without sacrificing its in-depth control and coverage of your business’ data.

Kilimanjaro Consulting is positioned to take your business into the cloud if and when you need it. Talk to our team to explore the benefits of MYOB Exo in the cloud and your options for ExoHosted deployment.

What are the next steps?

Kilimanjaro Consulting is the largest, most experienced implementation and support partner of MYOB Exo across Australia and New Zealand.

To start a conversation about how MYOB Exo can improve efficiency in your organisation, email sales@kilimanjaro-consulting.com or call 1300 857 464 (AU) or 0800 436 774 (NZ).