Large and growing businesses can benefit from MYOB Advanced Business, a comprehensive cloud-based platform for resource planning, inventory management, and more. MYOB Advanced Business comes with a wide range of features to help businesses manage their resources efficiently. If you are a growing business, understanding what the platform has to offer could save you time and money in the long run.
What is MYOB Advanced Business?
As businesses grow, they need more powerful management tools to keep up with the demands of increased staff, revenue, and suppliers. MYOB Business, the standard offering from MYOB for businesses, is available in several different package tiers ranging from Lite to AccountRight Premier. These options provide a good selection of choices for enterprises with fewer than 20 full-time employees. Larger or more complex businesses may need the extra features that come with MYOB Advanced Business.
MYOB Advanced Business is a cloud-based enterprise resource planning (ERP) system that helps businesses of all sizes manage their finances, operations, and customer relationships.
It is a comprehensive solution that offers a wide range of features, including accounting, inventory management, CRM, project management, and reporting:
- Accounting – track income and expenses, manage payables and receivables, and prepare financial reports.
- Inventory management – track inventory levels, manage orders, and forecast demand.
- CRM – manage customer relationships, track leads and opportunities, and provide excellent customer service.
- Project management – manage projects, track time and expenses, and collaborate with team members.
- Reporting – generate reports on financial performance, inventory levels, customer relationships, and project progress.
Who is MYOB Advanced for?
MYOB Advanced Business is a good fit for businesses that are looking for a comprehensive ERP solution. It is particularly well-suited for businesses that are growing rapidly or that need to improve their efficiency.
Is MYOB Advanced the right fit for your business? Our team at Darcy Bookkeeping are MYOB bookkeeping experts and can advise you on the best accounting software options and help you get setup. Contact us on 1300 728 875 or send us a message.
How much does it cost?
The cost of MYOB Advanced Business depends on the size of the business and the features that are required.
Key features
MYOB Advanced offers a number of features that are not available in other MYOB Business offerings, such as MYOB AccountRight.
These include advanced inventory management, reporting and analytics, multi-currency support, and advanced project management. As you would expect then, MYOB Advanced is more expensive than MYOB AccountRight.
The best choice for your business will depend on your specific needs and requirements. If you need a comprehensive ERP solution with advanced features, then MYOB Advanced is a good option. However, if you are looking for a more basic accounting solution, then MYOB Business may be a better fit.
Key features of MYOB Advanced Business vs MYOB AccountRight
| Feature | MYOB Advanced Business | MYOB AccountRight |
| Inventory Management | Advanced | Basic |
| Reporting and Analytics | Advanced | Basic |
| Multi-Currency Support | Yes | No |
| Project Management | Advanced | Basic |
| Integration with other MYOB products | Yes | Yes |
Is it easy to setup?
MYOB Advanced Business is relatively easy to set up. The installation process is straightforward, and the user interface is intuitive. However, businesses that need to integrate MYOB Advanced Business with other systems may need to hire a consultant to help with the setup process.
Alternatives to MYOB Advanced
There are quite a few alternatives to MYOB Advanced Business. Here is a look at some of them and a quick overview of their main features:
- Xero – A cloud-based software, which means that you can access it from anywhere with an internet connection. Designed to be easy to use, even for people who are not familiar with accounting software.
- QuickBooks Online – A user-friendly interface that makes it easy to track your finances and integrates with a variety of other apps, such as PayPal, Stripe, and Google Drive.
- Sage 300 – can be scaled to meet the needs of businesses of all sizes and can be customized to meet the specific needs of your business
- SAP Business One – A global solution that can be used by businesses in over 180 countries and therefore supports multiple currencies, which makes it easy to track your finances if you do business internationally.
- Oracle NetSuite – offers powerful reporting capabilities that can help you make informed business decisions and has a mobile app that allows you to access your data from anywhere.
Ultimately, MYOB Advanced Business is a powerful ERP solution that can help businesses to streamline their operations and improve their efficiency. It is a good fit for businesses that are growing rapidly or that need to improve their efficiency. So, if you’re a growing business with complex systems and processes, the platform can help you simplify and streamline your operations.
Still not sure? If you’d like to discuss your needs, give us a call on 1300 728 875 or send us a message for an obligation-free consultation.
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