Does your accounting software love you back?

Software is supposed to make life easy – whether that is a reduced administrative workload or deeper insight into data that can drive informed decision-making. But for all the investment you may be putting in to train your team, change your processes, and manage your data, sometimes it just doesn’t work.

When software makes your life harder than it needs to be, you realise it doesn’t really love you back.

Choosing the software you use to manage your business is the start of a long-term relationship. Choose a system that you can really fall in love with, one that supports your team to remove risk and manage compliance, streamline processes and workflows, and improve efficiency.

Falling into bad software habits

People are naturally drawn to the same rhythm and routine, comfortable in their day-to-day operations. This includes the software systems you use every day. The limited functionality or reliance on manual data manipulation can very easily become ingrained in your processes. The repetitive manual processes become something that you live with, having accepted the way things have always been and maintained the bad software habit.

Your environment also shapes habit formation. A new hire coming into the organisation will be trained in your existing processes and indoctrinated into this habit during onboarding with little consideration of how to improve processes. Common explanations for maintaining bad software habits include:

• It is easier to stay the same rather than make a change,
• Who knows if changing systems will even be worthwhile?
• Surely, all systems are like this. Can it even get any better than what we have?
• I’m not sure if I am qualified to use a different system,
• This is how we have always done it, and we have got this far. Why should it not continue to work in the future?

Have you heard these justifications and excuses for staying on the same system around your team? When it comes down to the simple reality, any software system should be making life easier.

Spot the signs of a poor software relationship

Does your accounting system feel like a supportive companion, intuitively guiding you through tasks and amplifying your capabilities? Or does it resemble a stubborn adversary, complicating even the simplest of workflows and leaving you frustrated and disheartened?

The signs that your system is actually holding you back may not be clearly visible. Start by asking these questions:

• How much time does your team spend preparing reports? The manual processes that may have supported your organisation in the early days can now be a significant barrier to productivity and efficiency. An integrated cloud-based business management system has personalised dashboards that are updated in real time, so you have automatic visibility of all your important information.
• How do you maintain inventory information? Outdated systems can struggle to keep up with new customer demand, stock holdings, and invoicing volumes. Modern systems with robust inventory functionality can handle thousands of SKUs with bin management, First-in-First-out (FIFO) tracking, and more.
• Can you provide personalised customer service to your growing client list? Without visibility of customer information between departments, there is simply more room for error, time delays, and frustrated customers. A CRM integrated into finance, inventory, sales, and more means automated engagement, updated information, and all teams on the same page to prioritise customer service.
• How easily can you scale and grow your team? Growing teams create administration and payroll bottlenecks, the scale of which cannot be handled by simple off-the-shelf accounting systems. Automated onboarding and rostering, dedicated leave management and employee self-service, and updated tax and award rates are possible with dedicated business management payroll systems.
• How connected are the various entities and locations across your organisation? Accounting software is designed to only manage one business at one location. A cloud Business Management System will allow you to set up multiple locations and multiple companies to manage customers, suppliers, and stock items separately for each location and easily produce consolidated reporting according to your business structure.
• Do you add a new product to solve one specific problem? Your Finance, Warehouse, Operations, or Sales teams may work across disparate, siloed systems with their own disconnected databases, sources of truth, and spreadsheets. This makes it almost impossible to get a clear picture of your organisation and have the right information at the right time. A cloud-based Business Management system supports integration with a variety of add-on systems, bringing all your data into one shared, real-time source of truth.

There are many signs that change is the right step for your organisation. Once they are identified, it can be hard to look past them and continue as normal. You deserve better for all the hard work and investment that is already going into your operations. Find a system that loves you back.

Find a business management system that loves you back

We understand bringing change to your business may seem daunting. You may perceive a risk in overhauling the day-to-day habits of your team and the processes that have built your organisation to where it is today. However, you cannot afford to be continually held back in a bad software relationship. Clever, proven, and innovative technology is the key to improving your efficiency. And improving your efficiency is the key to growth and increased profitability.

What is MYOB Advanced Business?

MYOB Advanced is a cloud-based enterprise resource planning (ERP) software developed by Acumatica and localised for the ANZ market by MYOB. Acumatica is the world’s fastest-growing ERP system renowned for its usability and flexibility.

MYOB Advanced (Acumatica) is a complete business management platform with a comprehensive set of tools for financial management, payroll and workforce management, supply chain management, project management, customer management and more. The software is designed to streamline business processes, automate tasks and other business events, provide real-time insights into key performance indicators (KPIs), and make life easier for its users. It is suitable for large, complex organisations and can be customised to suit your specific requirements.

A range of features that MYOB Advanced users love

MYOB Advanced has powerful functionality to support organisations across a range of industries, such as construction, wholesale and distribution, not-for-profit, healthcare, government, financial services, multi-entity organisations, field services, professional services, engineering firms, manufacturing, and more. Across all of these industries and all of our satisfied clients, there are many standout MYOB Advanced features that save hours of administration time a week.

Intercompany and Cross-Company consolidations

MYOB Advanced is well suited to structurally complex organisations. It uses the concept of an entity to manage multiple branches, divisions, or companies within a single database. This makes the intercompany and cross-company sales and consolidation process incredibly streamlined without compromising the financial identity of each company in your organisation.

Bank Feeds automation

Bank Feeds automatically imports transactions from your bank or financial institution directly into the MYOB Advanced database. This eliminates the need to import transactions manually and removes the risk of errors. You can also create bank feed rules to automate transaction matching and further streamline the reconciliation process.

Business event notifications

Business events form the backbone of low-code configurable automation to support your organisation’s unique workflows. They allow you to monitor the MYOB Advanced database and easily automate business processes when certain events occur. These processes can include sending automated notifications, creating tasks, or automatically updating records. MYOB Advanced Business Events allow users to best utilise automation to improve efficiency, reduce manual tasks as much as possible, and simplify complex processes.

Working in the cloud

MYOB Advanced is a cloud-based business management system. It is built on the Acumatica framework – and Acumatica itself was built as a cloud-native system. The entire platform is optimised for performance specifically on the cloud; it is not a hybrid system nor an on-premise software converted to the cloud like other ERP systems.

The cloud naturally promotes collaboration, flexibility, and real-time data flow. It is secure and reliable, with Two-Factor Authentication (2FA) and hosting services provided by Amazon Web Services (AWS).

Integrated payroll and workforce management

MYOB Advanced is the only platform available across Australia and New Zealand to offer integrated ERP Finance, Payroll, and Workforce Management functionality for midmarket organisations. With payroll and workforce management integrated with your finance function, all payment information is automatically allocated to the General Ledger without manual duplication. MYOB Advanced Workforce Management also adds automated rostering and onboarding workflows, as well as manages leave management, timesheets, award interpretation and more, with all information flowing directly into MYOB Advanced Payroll for accurate, risk-free payroll.

Choose an expert guide to manage your software relationship

Kilimanjaro Consulting are experts in guiding our clients up the technology mountain towards improved efficiency. We understand the impact the right business management platform can have on your organisation. Our risk-free methodology ensures that we configure MYOB Advanced to support your organisation and improve efficiency. We take the time to understand your unique workflows and processes and truly understand your business to guide you through Business Process Improvement and a strong return on your technology investment.

We provide safe hands and careful guidance to help your organisation navigate a MYOB Advanced implementation. Contact our team to discover how to implement MYOB Advanced – a business management system that you can really fall in love with. Email sales@kilimanjaro-consulting.com or call 1300 857 464 (AU) or 0800 436 774 (NZ).