5 Reasons to Regularly upgrade MYOB Exo

Get the most out of MYOB Exo by participating in regular upgrades

MYOB regularly releases updates to MYOB Exo so that you can benefit from improved functionality and bug fixes. Keeping your MYOB Exo software updated to the latest stable version means you have the largest available set of features ready to go when you need them. Taking advantage of these new features is an easy way to improve efficiency in your business.  Although it may seem like a costly and disruptive exercise, we encourage our clients to recognise the 5 reasons and signs to upgrade their systems:

1. Make sure you get the best value out of your Annual Licence Fee (ALF)

Your Licence agreement with MYOB requires you to pay an annual licence fee (ALF) to keep using the software. This ALF entitles you to the latest version of the software. Although there is a cost for the consulting services associated with upgrades, (the actual work involved in deploying the upgrade) the benefits far outweigh this cost. If you don’t upgrade, you are paying for the latest software (the ALF) but not utilising what you have already paid for. If you have the latest version installed, your business will have the best array of tools in MYOB Exo. In addition, the smaller the version jump the lower the cost to upgrade. The ALF remains the same regardless of the version, so it makes sense to have access to the latest features and bug fixes in MYOB Exo.

Why not optimise the return on your investment and benefit from the latest, most up-to-date features?

2. Take advantage of new functionality that you are missing out on

Software changes all the time. The team at Kilimanjaro pass on all client suggestions and issues to MYOB, who invest a large portion of their Research & Development budget into further development of the MYOB Exo product. This means that the latest versions of the software will always give you benefits over the older versions. Added functionality may be as simple as an improved workflow, a new widget, a tidier report or new complex functionality like Bank Feeds. Of course, identified bugs are also fixed in each new version. In the current climate having the ability to react quickly to market, changes are critical.

3. See even more benefits that outweigh the cost

The savings generated by the improvement to business efficiency will easily compensate for the cost of the upgrade. The more regularly you upgrade your MYOB Exo software, the smaller the investment will be each time. If you are many versions behind the latest release, the process becomes very complex and time-consuming for your implementation partner, and for you. It makes sense to stay on top of the new releases. Upgrading at least once every 18 months is recommended. The new software version is available to you at no additional charge as part of your ALF. There is however a cost to physically perform the upgrade, conduct training on the new features, and fix any issues. This will vary depending on your system, the number of companies and the amount of customisation. Our team can discuss these costs in more detail with you.

4. Staying Current with your Team Training

It is far easier for users to learn incrementally. If, for example, you only upgrade every 5 years, the new versions of the software would be almost unrecognisable to someone used to the old interfaces. By staying up to date, users can more easily adapt to the changes. The training courses your trusted implementation partner delivers also focus on the new versions, so sending employees to receive training may be difficult for them when they get back to the office and find your company is many versions behind.

5. Compatibility

Microsoft Office does not stand still. MYOB is constantly monitoring the Microsoft roadmap, so new versions of MYOB Exo are compatible with new versions of Microsoft. However, this does not guarantee that older versions of MYOB Exo will remain compatible with new Microsoft operating systems. You could face significant disruptions and unnecessary costs when MYOB Exo fails to work with your newly upgraded version of the Microsoft Operating System, or MS Office itself. Staying on an old version of MYOB Exo means that when you do upgrade your Microsoft software, you will bear the additional cost and disruption of upgrading MYOB Exo at the same time. MYOB Exo Versions are always backwards compatible. This means you can use the latest version of MYOB Exo with an old version of Microsoft Office, but not an old version of MYOB Exo on a new version of MS Office.

To find the latest MYOB Exo version available for your business, you have a few options to choose from:

Contact our team; they will go through the details with you and provide access to release notes and related documentation.

If you are on an older version of MYOB Exo, speak to our Business Process Improvement team on 1300 857 464 (AU) and  0800 436 774 (NZ) or email us at sales@kilimanjaro-consulting.com. They can help you evaluate the benefit you will get from an upgrade. If you wish to check which version is currently available for an upgrade, visit our MYOB Version history page.

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