Are you familiar with an enterprise resource planning (ERP) system? One of the ERP systems quite popular nowadays is MYOB Advanced, which is a cloud-based system designed for medium to large businesses. If you need more than just accounting, you can certainly take advantage of MYOB Advanced to manage finance, inventory, payroll, CRM, project management, and many more.
What Type of System Is MYOB Advanced?
This is an ERP system that deals with the intricacies of managing your business. So, your company can make use of several features depending on the needs of your business. Since it is hosted online, you can easily access the system anywhere.
If your company needs advanced reporting, automation, or multi-entity support, you can use this system to make key operations more manageable. This approach is particularly well-suited to meet the unique operational needs and challenges faced by industries such as wholesale, manufacturing, construction, and professional services.
You may benefit from its financial management feature, as well as inventory and supply chain tools. You can also track sales and customer relationships through its CRM system. You may also track time and cost with its project accounting feature. It can also help your company manage its payroll and workforce.
How MYOB Advanced Acumatica Works for You
- Centralised Operations
With a focus on streamlined efficiency, this system centralises your business operations, allowing for better visibility, improved decision-making, and enhanced control over day-to-day activities. As a result, it reduces reliance on spreadsheets or juggling multiple platforms.
- Real-Time Data
You can access live dashboards and analytics to gain faster, better decision-making. Thus, there will be no more waiting for month-end reports or manual reconciliations.
- Cloud Access Anywhere
Thanks to secure cloud access, employees are no longer confined to a single physical location and can perform their duties from virtually anywhere. This level of flexibility is especially beneficial for remote teams collaborating across different regions, organisations that operate from multiple sites, and sales professionals.
- Automation of Tasks
You will be surprised at how it can help automate the invoicing, approvals, purchasing workflows, and inventory tracking. It is a great way to free your staff from repetitive admin tasks.
- Scalable as You Grow
This can help you add users, branches, or modules easily, even as your business expands. Ideal for manufacturing operations or detailed project costing. It can also handle complex needs like multi-entity accounting, intercompany transactions, or multi-currency reporting.
- Local Compliance Support
It makes sure that the system will comply with Australian or New Zealand tax, payroll, and superannuation rules. Thus, reporting to the Australian Taxation Office becomes a lot easier.
Choosing the Right ERP for Your System
If you are making a big move, it is smart to check whether it will fit your current systems and workflows. Here is how to tell if the type of enterprise resource planning system you have chosen will suit your current setup.
- Check System Compatibility
Determine if it can be integrated with your current software. If possible, ask for a list of supported APIs or connectors. In this context, MYOB Advanced can support many common business apps.
- Match Against Your Needs
You can make a list of what your system can do and what it may be lacking. You will be surprised as to how MYOB Advanced can handle those missing areas, namely job costing, multi-site stock control, or advanced reporting. Check if it can grow with your needs, such as adding new users, locations, or business units.
- Test for Usability and Training
Check if it is user-friendly for your team. You might want to choose one that may not require retraining of your staff. If possible, ask for a demo or trial version from your provider. You can also check if your provider can offer local support and onboarding assistance.
- Integration and Migration Support
It will be awesome if the ERP can support the integration of existing data, such as customer lists, inventory, and financials. Sometimes, new systems can cause downtime or loss of history. Find out if it can support migration or customisation to fit your workflow.
- Ask for a Gap Analysis
A lot of providers, like MYOB partners, can offer a pre-implementation audit or system fit analysis. This will enable you to compare the capabilities of your current system against the features of a prospective enterprise resource planning system.
Seeking an ERP system customized for the Australian and New Zealand markets? Why not check out MYOB Advanced Acumatica, which delivers the same robust features and functionality, letting you manage your entire organisation from a single platform? Give us a call if you want to take advantage of our experience to help your organisation grow and advance to its full potential.
