How can you meet your growing audit and governance requirements?

As your company grows and deals with an increased volume of transactions, your error rate is bound to increase. This is usually due to an over-dependence on manual data entry and handling. However, you are also at an increased risk of fraud and malicious behaviour, and this can slip through the cracks much more easily without proper auditability.

MYOB Advanced is an ERP solution built to add additional security to your system. It allows roles, permissions, authorities, and auditability to suit any organisation. With tightly configured approval maps, and the ability to automate your manual processes, you will move away from data manipulation towards verifying completed work. This will remove the opportunity for fraud and decrease your system errors.

Automated Approval Maps

Approval maps can be created across the MYOB Advanced system. At certain stages, such as creating a Purchase Order or AP Bill, the status will change to pending approval. Based on the flow of the approval map, MYOB Advanced will email specific individuals who have permission to make approvals. These maps can be specifically configured based on what is being approved and the stage of the process. In order to further protect your approval pathways, you can use Two-factor authentication (2FA) to ensure that only the approver with the correct access is making the decisions. This gives you complete control over your AP security.

On the other side of the coin, MYOB Advanced tracks all account changes so that you have full visibility over everything that is happening across your system. After the introduction of new and stringent compliance requirements, MOTAT upgraded their software to MYOB Advanced and reaped the benefits of a single integrated system. In many cases, your dashboard screen can display a detailed audit table, showing all recent changes to selected fields. Any unauthorised change can be identified, reversed, and investigated. For even greater security of your data, Row Level Security can be enabled, limiting the visibility for each user down to the specific field.

Process Automation

Automating your processes removes the human element and increases security. Other benefits of automation are that your mundane and repetitive tasks are completed automatically and correctly and in a timely manner. One of the significant strengths of MYOB Advanced is in its automation capability. With their fundraising efforts growing, Breast Cancer Network Australia decided to implement MYOB Advanced to meet their changing compliance requirements.

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. 

If your business could benefit from leveraging the power of automation, contact us at sales@kilimanjaro-consulting.com or 1300 857 464 (AU) or 0800 436 774 (NZ).