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MYOB Acumatica – All you need to know
MYOB Acumatica for Retail

MYOB Acumatica for Retail

Powerful cloud-based retail inventory management software to improve efficiency.

The retail industry places significant demands on your entire organisation. Everything needs to be in sync from sales to inventory, finance, distribution, and e-commerce. To get ahead and stay ahead, you need a software solution that can bring your data together in real-time and support every department in your organisation.

MYOB Acumatica (formerly MYOB Advanced) is market-leading ERP software designed to support the retail industry’s complex requirements.

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Why Retail Companies Need Retail-Focused ERP Solutions

Small business accounting systems only provide some of the necessary functions required for a retail-focused company. As you grow, you will start to experience efficiency bottlenecks that take your focus away from your core purpose. Common areas of pain faced by retail organisations on an ill-fitting system include:

Poor visibility of stock across multiple locations and warehouses,
A reliance on manual processes to sell, invoice, pick, pack, ship, and track shipments leads to mistakes and wasted time,
A growing team that is becoming increasingly difficult to onboard, pay, and manage.
Lack of timely reporting to boards, management, or other departments and parties,
Poor visibility of your financial information, profitability, customer activity, and more across multiple trading entities,
Manual data duplication is required to keep data up to date across your different workflows.

MYOB Acumatica is a powerful, modern ERP solution that can support your growing retail organisation and complex requirements.

What is MYOB Acumatica?

MYOB Acumatica is a cloud-based Business Management Platform localised by MYOB and powered by Acumatica – the world’s fastest growing ERP system. It provides retail organisations with a comprehensive set of tools for financial management, inventory management, customer relationship management, e-commerce integration, and more. The software is designed to streamline business processes, automate tasks and other business events, and provide real-time insights into key performance indicators (KPIs). It is suitable for large, complex retail organisations and can be customised to suit your specific requirements.

Benefits of MYOB Acumatica for Retail

There are many reasons why MYOB Acumatica is the best ERP for complex retail organisations:

Powerful inventory management functionality so you can see where your stock is in real-time and effectively manage purchase orders, backorders, and sales orders, ,
Application Programming Interface (API) integration consolidates data across your technology ecosystem to eliminate manual data duplication – including your online e-commerce platform,
Maintain regulatory and compliance requirements for financial reporting, data privacy, and more across your organisation within a single system,
Create a truly connected organisation, with different departments, entities, and groups working with the same data in real-time,
Empower your sales team with information to identify customer purchasing trends and target slow-moving stock,
Advanced security measures, including encryption, backups, and updates, to protect sensitive data,
Manage and pay your entire team from a single integrated platform.

MYOB Acumatica Features for Retail

MYOB Acumatica has a range of features and functionality to support the business capabilities of retail organisations.

Financial Management

MYOB Acumatica has the sophisticated financial tools you need to easily create reports and track revenue across multiple sources and entities. It allows for better tracking of the cost of goods sold (COGS), with multiple inventory valuation methods such as First in First Out (FIFO) or Last in First Out (LIFO). Configure login and role-specific dashboards and reports that are always kept up to date so you can see the clearest, most accurate picture of your organisational health. Manage your assets from purchasing through to sale and shipping within a single source of truth.

Customer Service

The Customer Relationship Manager (CRM) module can manage and track all interactions with customers, suppliers, and distributors.. This is kept up to date with inventory and sales figures. Use that information to segment customers based on purchasing behaviour and other rules. MYOB Acumatica allows the configuration of pricing rules per customer, removing the need to make manual adjustments.

Inventory Management

Improve tracking and management of your inventory with MYOB Acumatica. Manage stock across multiple sites and locations with full visibility. This includes multiple bins within the same warehouse, so everyone on your team is empowered with the knowledge of every stock item. MYOB Acumatica also supports a vast database of SKUs, matrix item configurations, and more customisability for your inventory. Create approval workflows to ensure the right orders are prioritised and approved for processing.

App-Stack Integration

MYOB Acumatica’s open API means it can integrate with a range of solutions that extend the scope of your inventory management processes. While MYOB Acumatica is an all-in-one retail ERP solution, several best-of-breed add-on solutions are available in the market to further improve efficiency. It is very common to integrate these systems into MYOB Acumatica:

Netstock – intelligent demand planning and supply chain management, so you always have the right stock in the right place at the right time,
eveXso – a warehouse management system that speeds up picking and packing, label printing, and promoting efficient distribution,
OpenFreight – to get the best price on freight and make the distribution process more efficient,
BizEx – integrated Point of Sale software to improve efficiency and accuracy when selling in-store,
E-Commerce – MYOB Acumatica supports native integrations with Shopify and Big Commerce, but can also integrate with WooCommerce, WebNinja, and other platforms to suit your requirements.

Payroll and Workforce Management

With the integrated MYOB Acumatica Payroll module, you can bring HR, operations, and payroll into one place. MYOB Acumatica Payroll is an all-in-one management tool that calculates finances and labour costs, analyses trends, and creates detailed reports – all in real-time and integrated into Finance. It handles multiple pay groups and frequencies, leave requests and approvals, and automated onboarding.

Bring onboarding, rostering, timesheets, and payroll together in one seamless, automated solution. MYOB Acumatica Workforce Management is an add-on module to MYOB Acumatica Payroll that improves the efficiency of even more of your administrative processes. Keep track of casual staff and manage awards automatically in MYOB Acumatica Workforce Management.

Mobile app

Access MYOB Acumatica from any browser or via the MYOB Acumatica OntheGo app. Team-based collaboration improves dramatically when working in the cloud. You can work knowing the data you are using is up to date and consistent across different teams and workflows – no matter where you sign in.

The integration of these modules within MYOB Acumatica promotes data consistency, reduces manual data entry, and supports informed decision-making across different areas of the institution. It allows for seamless sharing of information among departments, leading to improved collaboration and efficiency.

Overcoming the Roadblocks of ERP Implementation

Choosing the right implementation partner is as important as choosing the right software. The partner’s role is critical to the long-term success of the software in your organisation. An experienced partner, with reference sites in your industry, can guide you through the common ERP software myths. It is important to get your MYOB implementation right the first time.

A successful MYOB Acumatica implementation relies on managing risk. Retail organisations should be aware of the 3 types of risk:

Software risk – can the software do what you need it to do?
Implementer risk – can the implementer customise the system to meet your needs?
Self-Inflicted risk – do we have appropriate resources dedicated to the implementation?

MYOB Acumatica is a reliable, stable, well-supported, powerful ERP system. It is well established as a good fit for the retail industry due to its integrated modules and cloud-based flexibility. To manage implementer risk, engage the services of a trusted, experienced, low-risk implementation partner.

Self-inflicted risk is perhaps the hardest aspect of an implementation for your organisation to manage. You must have the available resources to dedicate towards the implementation, including a project champion and buy-in from departmental leads and management. An ERP system works across your entire organisation, and it takes representation from the entire organisation to successfully implement it.

The Kilimanjaro Consulting team can help you manage the three areas of risk, ensuring a successful implementation with so you can realise the benefit of cloud ERP software in your organisation.

Importance of local software

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 Acumatica has been specifically customised to meet the needs of Australian and New Zealand organisations.

MYOB is a stable and reliable local vendor. Your investment supports a mainstay in the ANZ market, as well as giving your organisation the local tools to benefit your stakeholders.

How can we help?

Kilimanjaro Consulting is the largest and most experienced implementer of the MYOB Acumatica Suite across Australia and New Zealand. We are skilled, low-risk implementers helping organisations overcome their challenges through the use of clever, innovative and proven technology. Our dedicated team takes the time to truly understand your organisation and customise MYOB Acumatica to meet your requirements. We are experienced at implementing MYOB ERP for retail organisations and guiding them through the ERP selection process.

MYOB Acumatica Implementation

MYOB Acumatica is a complex, sophisticated business management platform. It requires an in-depth solution design and configuration to meet your requirements and to add the most value to your organisation. While an MYOB Acumatica implementation may seem like a daunting project, you can engage an expert implementation partner to guide you to a successful outcome.

MYOB Acumatica integrations and customisations

There is a vast array of specially developed connected services that you can integrate with MYOB Acumatica to create a technology ecosystem. These systems are specifically developed to meet individual industry or departmental requirements and can further improve efficiency. MYOB Acumatica integrations and customisations allow you to build a truly custom system for your organisation.

Business Process Improvement

Business Process Improvement (BPI) is a systematic approach to helping your organisation optimise its processes and improve efficiency. BPI is an integral part of any implementation. There must be overall improvement in your processes, otherwise your investment in a new software is suboptimal.

Targeted areas for BPI typically include:

Automating manual processes
Validate data integrity
Improved reporting capabilities
System integrations, if applicable, and
Process efficiency

MYOB Acumatica Training and Support

Kilimanjaro Consulting provides in-depth MYOB Acumatica training as part of our implementation process, as well as long-term guidance and support for our clients. Training during implementation ensures your team is equipped and ready to use MYOB Acumatica and improve efficiency when you go live.

The MYOB Support Sherpas will help guide you to the best possible solution if and when you face challenges with your systems. With decades of experience, the Kilimanjaro Support team take a collaborative approach when solving your issue. All MYOB Acumatica clients can log and track support tickets through our dedicated MYOB Acumatica Support Portal.

For any support case, we follow a structured methodology to minimise risk and solve your problem efficiently. Our MYOB Acumatica Support team has developed a robust knowledge base grounded in their real experiences in finding solutions for our clients. Knowing more about your issue gives the team the ability to consider multiple resolutions. No matter if the query is small or large, our team will always endeavour to provide the best solution.

MYOB Acumatica for Retail Case Studies

MYOB Acumatica is a proven solution for retail companies to improve efficiency.

Arcadia Group

The Arcadia Group is a leading global manufacturer of high-end monitors and visual technology solutions. When they opened a second location, it became clear that their legacy system was no longer the best system to meet their requirements. Following the advice of their trusted business technology partner, Kilimanjaro Consulting, Arcadia Group implemented MYOB Acumatica. They now enjoy full visibility of their organisation’s data in one system, serially tracked stock items to improve lifecycle management, and the MYOB Acumatica OntheGo app for even wider cloud access for their sales teams on the road.

MYOB for Retail – Frequently Asked Questions

MYOB Acumatica is a complex and fully featured business management platform. Naturally, this leads to many frequently asked questions.

Where can I learn more about MYOB Acumatica as a retail ERP solution?

The Kilimanjaro Consulting teams are experts in MYOB Acumatica and how it can be used to improve efficiency in retail and other inventory-centric organisations. Download our free resources, or book a free, no-obligation consultation with one of our friendly and experienced MYOB Acumatica consultants. Discover how our team can support your organisation in your journey up the technology mountain.

How long does an MYOB Acumatica implementation take?

The length of an MYOB Acumatica implementation varies depending on your individual requirements. You should anticipate a minimum of 3 months for the entire implementation project, from design through to go-live.

Your relationship with an implementation partner should be a lifetime one. Choose an implementation partner with the skills to customise MYOB Acumatica to meet your requirements and who will be there to support you through your lifetime journey with the system.

Do you offer MYOB Acumatica for Retail training?

MYOB Acumatica Training is essential to get the most out of your system. Our goal is to help you become self-sufficient on your system when you go live. However, for new starters or those who need a refresher in their system, we also offer supplementary training. In the case of MYOB Acumatica, because every system is so different and unique, we curate ad hoc training to suit your specific build requirements.

What kind of MYOB Acumatica support do you offer?

The support team at Kilimanjaro Consulting are MYOB Acumatica experts. They follow a structured methodology to minimise risk and ensure your system works perfectly when the ticket is closed. If you are not on a fixed fee support plan, our team will always submit a written quote before undertaking any work, to ensure our support costs are clear and transparent.

Continuous support and Business Process Improvement help you get the most out of your investment in MYOB Acumatica. Support rates are typically bundled into packages; however, you could also opt to pay for support by the time spent to resolve your problem, usually at a more expensive rate.

What are the costs involved when implementing MYOB Acumatica for retail organisations?

Just like the implementation timelines for MYOB Acumatica, the implementation costs also vary from organisation to organisation.

Every MYOB Acumatica site is different, and the investment required reflects this. Because you only pay for the modules you use, and every organisation will use the system differently and with a different number of users, there will be variance between companies for the final cost.

An MYOB Acumatica implementation will typically cost between $50k and $100k depending on the individual requirements. More complex organisations could fit outside this range. Ongoing licence fees range between $2k to $5k per month.

Your organisation may be more or less complex than the exemplar. The best way to find out how much it will cost is to talk to an expert. Our team will attempt to understand the uniqueness of your organisation, how MYOB Acumatica can best meet your needs, and provide a quote for implementation, ongoing licences and support.

Can MYOB Acumatica integrate with my existing retail systems?

MYOB Acumatica has a flexible and secure open REST-based API. This means it can integrate with a variety of existing retail systems. Integration improves efficiency by eliminating manual data duplication across systems. Implementing MYOB Acumatica for your retail organisation also minimises disruption to your operational teams. They continue using the same applications, and you retain the benefit of the ERP as the single source of truth for the organisation.

In some cases, MYOB Acumatica’s powerful inventory management capability can replace existing retail systems. This consolidates and streamlines your licence fees and adds further value to the ERP system.

How will Kilimanjaro Consulting help my organisation to adopt MYOB Acumatica?

You may not have gone through an implementation before, but we have. Kilimanjaro Consulting places a supreme focus on minimising and mitigating risk in your implementation. We follow a systematic framework to guide clients and the implementer step-by-step through the process. Without a structured implementation methodology, the speed and sequence of steps may be confused, resulting in frustration and dissatisfaction. A structured methodology incorporates the lessons learned from experience, ensuring that the same mistakes will not be made again.

Is MYOB Acumatica for both small and large retail businesses?

MYOB Acumatica is built to manage the complex requirements of mid-large sized retail organisations. Generally, businesses start to become classified as mid-large sized when they employ more than 20 staff and turnover more than $10 million per year. For retail businesses smaller than this threshold, a system like MYOB Acumatica may prove too complex and expensive.

Smaller retail businesses will be better served with off-the-shelf accounting and retail systems. These need little customisation to reflect your unique processes, although they cannot accommodate the complexity of larger retail businesses. When small business management systems struggle to support your efficiency improvement and begin holding you back it is time to consider MYOB Acumatica.

Get in touch today

The Kilimanjaro Consulting team are experts in configuring MYOB Acumatica to meet the needs of retail organisations. Our team includes CA, CPA, and ACA accountants as well as experienced inventory management and retail consultants. We understand your needs and have the skills to configure the system to meet your requirements. MYOB Acumatica is a suitable and proven business management platform in the retail industry. It provides a strong return on investment while also improving the efficiency and visibility of your most important data and streamlining your entire app stack and technology ecosystem. Contact us to organise a free, no-obligation assessment of your organisation and whether MYOB Acumatica is right for you.

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