The latest cloud accounting solution was officially floated by MYOB yesterday, sweeping the old days of office based invoicing and repetitive bank reconciliations into the past.
Sitting in the crowd watching proud as punch MYOB execs run through the new system, small business minds couldn’t help but rock back and wonder ‘why hasn’t someone done this before?’
Very little’s new about the interface itself - it’s the same old MYOB that every existing user is familiar with - it’s the new mobility and interconnectedness that begs the question.
You see, all MYOB AccountRight Live has done is take the tried and tested software of old and beamed it down from the cloud, instead of up from the tower under your desk.
This means access from anywhere, anytime. No more saving on USB sticks or rushing back to the office to invoice. You can now mind your own business anywhere there’s internet, and in the tech centric time we live in, that’s as good as everywhere.
But it’s in the cloud, you say, what about security? To be honest there’s probably more chance of the USB stick bearer getting eaten by an alligator en route than MYOB getting mugged. And given alligators are American, you’ve got to like those odds.
Plus, every time you sync your software with the cloud you can back it up on your desktop for peace of mind. Then, if your accountant’s been working on it from home, when you link back up to the cloud everything will be automatically updated.
A few very handy improvements have been thrown into the accounting side of things too. The latest edition of AccountRight picks up all your bank statements and automatically matches them line by line with the books.
If the software is unsure, you can teach it. Make a rule and next time MYOB will follow it to match those uncertain entries up.
As you might expect the whole thing automatically updates and has a suite of insightful new analytic functions too, but these are insignificant against the fact you can now access your books from anywhere.
And to top it off, it’s a very easy transition (that can be made from November 8). As CEO Tim Reed explains, “Simply install our latest release and turn the live features on.”
Of course all this comes with a cost attached, but flexibility from $23 a month seems pretty reasonable to us.
While this spiel might sound a bit spruiky, rest assured it’s not. This MYOB Live jazz is just a fantastic new product that we reckon you need to know about.
To get reviews of all the latest technology for your small business, tune into KBB Series 6, 11am Sundays on 7!