MYOB regularly releases updates to MYOB Exo so that customers can benefit from improved functionality and bug fixes. Upgrading is an easy way to improve efficiency in your business. Though an upgrade may seem like a costly and disruptive exercise with little benefit, we encourage our clients to upgrade, for the following 5 main reasons:
1. Annual License Fees (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 consulting services for upgrades, (the actual work involved in deploying the upgrade) the benefits far outweigh the costs. If you don’t upgrade, you are paying for the latest software (the ALF) but not utilising what you have already paid for. Why not get a return on your investment and benefit from the latest, most up-to-date features?
2. Added Functionality
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 complex functionality like Bank Feeds. Of course, all identified bugs are also fixed in each new version.
3. Benefits over 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. 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 a year is recommended.
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 adapt to the changes more easily. The training courses your 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 10 versions behind.
Microsoft does not stand still. MYOB is constantly monitoring the Microsoft roadmap, so new versions of Exo are compatible with new versions of Microsoft. Staying on an old version of Exo means that when you do upgrade your Microsoft software, you have to bear the additional cost and disruption of upgrading Exo at the same time. Exo Versions are always backwards compatible. This means you can use the latest version of Exo with an old version of MS Office, but not an old version of Exo on a new version of MS Office.
If you are on an older version of MYOB Exo, speak to our Business Process Improvement team on 1300 857 464 or email us at [email protected] They can help you evaluate what 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.