MYOB Acumatica vs MYOB Advanced – what is the difference?
Cloud business management solutions – different name, same powerful systemIn 2014, MYOB invested in an emerging cloud software solution – Acumatica. This, in turn, gave rise to their new cloud business management solution, MYOB Advanced. MYOB Advanced has grown to become one of Australia and New Zealand’s favourite cloud ERP systems. But now, a new name has emerged in the ANZ ERP space – MYOB Acumatica. What is it, and how does it compare to the established MYOB Advanced?
What is MYOB Acumatica?
In July 2024, MYOB decided to rename and rebrand MYOB Advanced to MYOB Acumatica (formerly MYOB Advanced). So that means MYOB Acumatica is MYOB Advanced. They are the same software, built on the same infrastructure, and with the same powerful cloud functionality. Same product – new name.
MYOB Acumatica (formerly MYOB Advanced) is a cloud-based business management platform that captures financial and non-financial data across your organisation. It uses this information to automate manual processes, connect unaligned teams, and improve efficiency. MYOB Acumatica is built out of several modules centred around its core Finance functionality. When MYOB Acumatica is properly configured to fit your organisation’s needs, it helps you effectively manage the 6 key operational workflows:
- Accounting and Tax
- Finance
- Customers
- Employees
- Supply Chain, and
- Projects
Why did the name change from MYOB Advanced to MYOB Acumatica?
MYOB changed the MYOB Advanced name to MYOB Acumatica to convey the close alignment between the two products and the two companies. This promotes clarity for Australian and New Zealand organisations – they can be confident that they are using an established, world-renowned system that is also built to meet their needs. It also streamlines the process and understanding for companies using Acumatica when they expand into Australia and New Zealand.
What does the change mean for you?
As part of the strengthening partnership with Acumatica, MYOB Acumatica users will have access to the Acumatica Community, including the Acumatica Discussion Forums. These community resources and discussion boards are fantastic tools for troubleshooting minor roadblocks or learning more about your system. Expert MYOB Acumatica users may even be able to lend their own experience and help a company using Acumatica. MYOB Acumatica users can also use the #MYOB tag and MYOB board to leverage local expertise from both MYOB and Channel Partners.
Why use MYOB Acumatica instead of Acumatica?
If a cloud-based ERP system is the engine that drives your organisation, then using MYOB Acumatica ensures that the steering wheel is on the right side of the car. You get to leverage all the power, versatility, and usability of the fastest-growing cloud ERP in the world. However, with local configurations, you can enjoy a smoother ride in software that is adapted to suit local conditions and compliance requirements.
Acumatica is a large US-based organisation. All the idiosyncrasies of doing business in Australia and New Zealand will be familiar to you (and MYOB), but not to overseas vendors. The Acumatica system is not built to reflect the complexities that a local provider is more familiar with. MYOB Acumatica is a specifically customised iteration of Acumatica to meet the needs and compliance requirements of Australian and New Zealand organisations.
MYOB has the benefit of working closely not only with local government bodies like the ATO, IRD and more, but also with the developers of Acumatica. This means you will get the best of both worlds: a market-leading, cloud-native ERP platform built on the stable Acumatica framework with all the benefits of using locally developed software. MYOB Acumatica is the low-risk approach.
You will not have to worry about workarounds or manual processes for requirements such as:
- Business Activity Statement (BAS) support.
- Goods and Services Tax (GST)
- Cash vs accrual GST
- Unique ANZ payroll requirements
- Changes in Legislation
What is Acumatica?
Acumatica is an industry-leading, cloud-based business management platform based in Washington, USA. It aims to deliver unparalleled functionality and value to midmarket organisations. Acumatica has been the world’s fastest-growing Cloud ERP company for 8 years.
First developed in 2008, Acumatica was built for the cloud and made for integration. It empowers collaboration across your team and workflows, resulting in improved efficiency. The Acumatica Cloud ERP platform improves accessibility, allowing connections from anywhere and at any time.
Chief among Acumatica’s benefits is its usability. In 2022, Nucleus Research ranked Acumatica as Number 1 for usability compared to 16 other ERP platforms. Of these 16, only 5 were ranked in the leader quadrant of a Value Matrix. Acumatica has the highest client satisfaction rating in the industry.
MYOB Acumatica for specific industries
Acumatica is regarded for its development of industry-specific editions. These editions have powerful, additional functionality – required by the industry – that is not available in other systems. Acumatica is modular, and you can build out the system’s functionality to suit your needs, including HR cloud solutions. From Finance to Payroll, Inventory to Projects, Acumatica can connect data in one place, eliminating manual data duplication and improving efficiency. Acumatica and MYOB Acumatica support a range of industries:
- Construction
- Manufacturing
- Not-for-profit
- Inventory, Wholesale, Distribution, and Import
- Multi-Entity/complex corporate organisations
- Government
- Professional Services
- Healthcare, and more.
MYOB Acumatica Information Pack eBook
Download nowFrequently asked MYOB Acumatica questions
Naturally, this name change has been accompanied by several frequently asked questions for MYOB Advanced and other ERP users:
Is MYOB Acumatica compatible with MYOB Advanced?
Is MYOB Acumatica more expensive than MYOB Advanced?
Can I migrate data between MYOB Acumatica and MYOB Advanced?
How do I access MYOB Acumatica support?
How do I access MYOB Acumatica training?
Is MYOB Acumatica a better system than MYOB Advanced?
Want to learn more?
The Kilimanjaro Consulting team work closely with MYOB as their number 1 partner and with Acumatica. We are excited to continue to see the future growth of the MYOB Acumatica platform to continue meeting the needs of Australian and New Zealand organisations and improving their efficiency.
Contact our team if you have any questions about the name change or want to learn more about MYOB Acumatica. Email sales@kilimanjaro-consulting.com or call 1300 857 464 (AU) or 0800 436 774 (NZ) to learn more.
