MYOB Invests in Acumatica
MYOB takes a seat on the board of Acumatica as they look to make an impact in the cloud-based ERP marketMYOB is reinforcing their commitment to building strong, local, and compliant cloud-based solutions for mid-market enterprises with their minority investment in Acumatica. Acumatica is a provider of cloud-based business management software built on the world’s best cloud technology. It incorporates a fully integrated suite of applications, allowing full control over business operations and finance from one robust platform. Acumatica software is delivered in Australia and New Zealand under the MYOB banner as MYOB Advanced. This is based on the sophistication and functionality of Acumatica, albeit tailored to the needs of the Australia/New Zealand market. This business management software complements the existing range of solutions for larger, more complex organisations.
Background on MYOB
MYOB is the leading accounting software provider for Australia and New Zealand. Their products typically focus on simplifying accounting, tax, websites, job costing, CRM, payroll, inventory, practice management, and more. They have had success with programs for small businesses with MYOB AccountRight and medium size companies with MYOB Exo. MYOB is now looking to be breaking into the cloud-based mid-market space with a new and advanced solution.
The future with Acumatica
Investing in Acumatica was a natural move after having been in a successful partnership for the last year. Before commencing the partnership, MYOB had reviewed a range of globally available technology platforms that would provide the ideal platform to extend into the online space for upper mid-market businesses. This investment sees MYOB take a seat on Acumatica’s board, allowing a close involvement in future software development.
MYOB spend approximately AUD$35 million on research and development annually, and are constantly looking to improve their offering, be that in a new product or new features for existing products.
If you want more information on how MYOB’s cloud-based solutions can help your business or on the latest developments of the newest MYOB Enterprise solution, contact us on 1300 857 464 (AU) or 0800 436 774 (NZ) or email sales@kilimanjaro-consulting.com.
