New Zealand business not ready to operate totally in ‘the cloud’

Wednesday, 2 June 2010 2 Comments

MYOB has announced the upcoming release of MYOB LiveAccounts, an online accounting solution for New Zealand businesses, although its research has found most businesses don't want to use purely online solutions.

MYOB chief executive Tim Reed says that according to an independent survey of over 950 New Zealand businesses conducted for MYOB, Kiwi business owners are looking for online tools and functionality, but prefer to run their business from the desktop.

"Our vision for online services is driven by what our 1 million Australasian business customers are telling us," Mr Reed says.

"Businesses want to use the internet to perform a variety of functions - but they also want the security, rich functionality and control offered by desktop solutions for other areas. Most

businesses are not yet ready to run all their business tools and processes in a fully online environment."

MYOB's independent research survey found that in New Zealand, the software as a service (SaaS) model appeals to less than a quarter of all of SME businesses - with only 4% of businesses who see operating all their business processes on the internet as "very appealing".

Combining the desktop software and internet services (S+S) appeals to more than half of all SME businesses (58%).

Reed says what MYOB is offering really does provide the 'best of both worlds': desktop solutions that will be connected to the internet through the MYOB AccountRight range, and a pure online solution via MYOB LiveAccounts.

He says MYOB LiveAccounts offers the ideal choice for businesses looking for a straight-forward and streamlined way to manage their business online, at any time.

"For businesses looking for an online solution, but who don't need the full range of desktop features, MYOB LiveAccounts will offer a simple, inexpensive and hassle free way to do the accounts."

Businesses can raise invoices, track expenses, monitor bank accounts, manage GST and keep in touch with every aspect of their business through real-time business reports.

MYOB LiveAccounts is currently in Beta testing and is being used by a range of businesses and accounting professionals.

It will be made available on general release within the next couple of months.

"The feedback from people has been great," explains Reed. "MYOB LiveAccounts has a new approach and innovative workflows that makes it really easy to use - especially for non-financial experts."

Some of the key features of MYOB LiveAccounts at time of launch will include:

• Accounts available for use anywhere and anytime you can access the internet
• Easy to use - it's focused on keeping the accounting simple
• Linked to daily bank feeds via BankLink for automatic updates of bank and credit card transactions (connected to over 30 financial institutions in New Zealand)

• No limits on use, users or in technical support (online support notes, email and live chat)
• Business owners can migrate data from other MYOB desktop products to LiveAccounts (Business Basics or the AccountRight range)

• Business owners will be able to try the software for 30 days without obligation and free-of-charge.
• Free use for accountants, bookkeepers and other accounting professionals.

Reed says through accounting solutions MYOB is providing connectivity for both businesses and accountants that will enable much closer working relationships.

"Having provided internet-based solutions for nearly a decade, we are always looking to invest in new ways to make business life easier.

"In fact, we have committed NZ$90million over the next three years to research and development to do just that."

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