Are you getting the best possible view of your data?See the full picture of your company's data
MYOB Exo is a sophisticated on-premise ERP system that fully integrates your financial and business management data. The software has been deployed in over 3000 mid-tier organisations across Australia and New Zealand, and they have benefitted from the typically lower cost to implement compared to other mid-market ERP packages. However, as your business continues to grow, the sheer amount of data creates a lack of visibility as data becomes hidden within the depths of your system.
The good and bad of such detailed data
As a sophisticated ERP solution, MYOB Exo captures a wide range of data from within your company. This is part of what has made it so successful over the past decade – being able to integrate with many external systems and collate your data centrally.
However, as your business (pushed forwards by the increase in efficiency from your MYOB Exo system) continues to grow, this data can become less simple to access. You must run through and review reports to see the important details. This can take up valuable time.
Integrations to improve data visibility
One of MYOB Exo’s strengths lies in its integration with third-party (add-on) products. These products are designed to enhance the functionality of your system, extending, and supporting native functionality so that you can make better decisions. Integrating these products into your system removes the need for manual data duplication, reduces overall error rates, and improves the visibility of your data.
Instead of migrating your entire system to the cloud, or configuring remote desktop access, there are cloud-based add-on products that can be deeply integrated to your MYOB Exo system. By using these external services, you create an integrated environment based on MYOB Exo but accessed through the cloud. The power of these add-on services can fill gaps or enhance the capability of your native MYOB Exo system.
Having access to a robust Application Programming Interface (API) or a synchronisation tool such as SynKit means that your data flows seamlessly between your current on-premise system and the cloud-based add-ons. Synkit is a connector for MYOB Exo, developed by Kilimanjaro Consulting, that updates data between your system and popular Add-On products like HubSpot, SmartFreight, Shopify, and many others. This reduces the duplication of work to maintain up-to-date data in both systems.
Phocas is an all-in-one business intelligence, planning, and analytics platform for companywide use. A single governed source of truth fed directly from your ERP, accounting, and other systems. Phocas solves mid-market businesses’ pains by gaining insights, reporting, tracking performance, managing sales teams, planning spend, managing cash flow, building budgets, forecasting and doing month-end.
BI4Cloud is business reporting in the cloud for MYOB Exo. The effortless business intelligence enables you to tailor reports and charts to meet your needs without programming. The system includes over 60 template reports you can tweak, export to Excel, share and email. It is effortless, which will empower your team to discover trends and deal with issues immediately and easily. Simply, BI4Cloud will save your business time and money as it can be implemented in less than 1 hour and is easily accessible with web-based training and on-demand consultancy.
MYOB Advanced is a powerful mid-market ERP system, based in the cloud as a fully hosted SaaS solution. The first thing that you will see upon signing into MYOB Advanced is the dashboard page. This page summarises all your relevant data and displays it in an easy to comprehend visual array. These dashboards can be customised based on your specific role, so that you are only seeing the data that you really need.
As a step forwards from the dashboards, you are able to drill-through your system quickly and easily to find more detailed information. Using inquiry screens, you can quickly and easily display outstanding invoices – as an example in an Accounts Receivables setting – and the system will automatically highlight those specific invoices that are overdue. These inquiry screens can then allow you to look directly at the customer records for those invoices, and a consistent conditional formatting highlights all of their currently overdue invoices. Through these inquiry screens you can then drill down to see the customer information for each specific invoice, and even all of the transactions specific to that customer.
Therefore, when working with larger amounts of data MYOB Advanced can become your singular focal point for visualising and analysing your company. As a second example, in the AP detail inquiry, you can see all records of all of your outstanding Accounts Payable invoices, with specific key fields pre-selected based on your needs. This can then be pivoted within MYOB Advanced so that you can easily recognise what is upcoming and forecast your payments for the future.
How can software solutions improve real businesses?
The Arcadia Corporation successfully transitioned into the cloud and achieved a single, efficient platform from which they now manage Accounts, Inventory Management and CRM. Moving from MYOB Exo to MYOB Advanced improved functionality and provided end-to-end management of its products. Additionally, integrations with their core business management system enhanced visibility and simplified reporting for the finance and sales teams.
Learn more about the real benefits of moving your organisation into the cloud by reading the case study here.
Make the best use of your data to grow sales
If you are searching for a way to increase sales, your first instinct might be to hire and onboard new salespeople. However, as the economy slows and organisations are forced to do more with less, it can be wise to investigate alternate strategies to grow sales. The data found in your MYOB ERP system holds the key to unlocking the power of your sales team. But how do you leverage it in an accurate, actionable format? Join our free webinar and learn how to make the best use of your data to grow sales without growing your headcount.
If you would like to get a sneak peek into the MYOB Advanced system, our friendly team can help you. Email email@example.com or call us on 1300 857 464 (AU) or 0800 436 774 (NZ) to learn more.