MYOB Invests in Acumatica
MYOB takes a seat on the board of Acumatica as they look to make an impact in the cloud-based ERP marketMYOB is reinforcing their commitment to building strong, local, and compliant cloud-based solutions for mid-market enterprises with its minority investment in Acumatica. Acumatica is a provider of cloud-based business management software built on the world’s best cloud technology. It incorporates a fully integrated suite of applications, allowing full control over business operations and finance from one robust platform. Acumatica software is delivered in Australia and New Zealand under the MYOB banner as MYOB Advanced. This is based on the sophistication and functionality of Acumatica, albeit tailored to the needs of the Australian/New Zealand market. This business management software complements the existing range of solutions for larger, more complex organisations.
Background on MYOB
MYOB is the leading accounting software provider for Australia and New Zealand. Their products typically focus on simplifying accounting, tax, websites, job costing, CRM, payroll, inventory, practice management, and more. They have had success with programs for small businesses with MYOB AccountRight and medium-sized companies with MYOB Exo. MYOB is now looking to be breaking into the cloud-based mid-market space with a new and advanced solution.
The future with Acumatica
Investing in Acumatica was a natural move after having been in a successful partnership for the last year. Before commencing the partnership, MYOB had reviewed a range of globally available technology platforms that would provide the ideal platform to extend into the online space for upper mid-market businesses. This investment sees MYOB take a seat on Acumatica’s board, allowing a close involvement in future software development.
MYOB spend approximately AUD$35 million on research and development annually, and are constantly looking to improve their offering, be that in a new product or new features for existing products.
MYOB Acumatica Information Pack eBook
Download nowThe impact of changing to MYOB Acumatica
In July 2024, MYOB changed the name of its MYOB Advanced platform to MYOB Acumatica. This brought greater public transparency to the strong, decade-long alignment between the two companies. It is a sign of MYOB’s continued dedication to building and supporting clever technology solutions for the Australian and New Zealand mid-market.
The Acumatica Cloud Business Management Platform is the world’s fastest-growing cloud ERP system. It is developed by the Acumatica company in Seattle, USA. MYOB Acumatica is based on the Acumatica platform and has the same features and functionality. MYOB Acumatica is localised to the Australian and New Zealand markets, with local tax and compliance requirements.
If you want more information on how MYOB’s cloud-based solutions can help your business or on the latest developments of the newest MYOB Enterprise solution, contact us on 1300 857 464 (AU) or 0800 436 774 (NZ) or email sales@kilimanjaro-consulting.com.
