News & Analysis

MYOB reveals its vision for the connected practice at its first INCITE event in Melbourne

- February 5, 2016 2 MIN READ

MYOB is dedicating 2016 to helping clients future proof their businesses, this morning outlining its vision for the ‘connected practice’ at its first MYOB INCITE roadshow event in Melbourne.

The company will be rolling out a range of new features to clients to bring its vision to life. These include a new online ledger for accountants using MYOB Practice Solutions, which will allow practices to have a consistent workflow across all clients, no matter which product their clients are using.

Partners will also be able to access a single dashboard view across their clients’ solutions, with this dashboard incorporating key efficiency features already found in MYOB’s long-standing BankLink facility, which allows professionals to manager the transaction processing of large numbers of clients.  They will also be able to collaborate more easily with clients and get sign off on the go.

Launching in Q2 will be the MYOB Essentials Accounting Starter, which the company said will be an easy introduction for micro businesses and startups looking for a price competitive starting point.

Also to launch in Q2 is MYOB Essentials Connected Ledger, which will allow businesses to manage the books and GST returns for small volume clients, connecting bank feeds to an online accounting ledger.

CEO Tim Reed said the company’s latest innovations will enable practices to “future proof” their businesses.

“What we have developed is a ground-breaking platform for efficiency to enable our partners and their clients to take advantage of best in market bank feeds, government connections, connected services, and add-ons,” he said.

“Through the MYOB platform, together with MYOB business solutions, we enable clients and accountants to communicate and collaborate together more effectively than ever. This Connected Practice is a huge step towards greater workability between practices and their clients,” Reed said. 

He said the connected practice is how MYOB sees the accounting profession taking shape, with the company’s software delivering time and efficiency to partners.

“The adoption of online and mobile technology is having big impacts on the accounting profession. We are seeing effects and opportunities in three areas: transaction processing, compliance and advisory. These three accounting workflows are now more closely intertwined than ever before, creating innovative new possibilities for practices and their clients.”

Image: MYOB CEO Tim Reed.