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MYOB strengthens its online capabilities

MYOB has announced the acquisition of an Australian start-up providing online document collaboration solutions for accountants.

M&A Michael Masterman 22 May 2014
— 1 minute read

The purchase of Dovetail, founded by former MYOB product strategy manager Rob Cameron, is intended to strengthen MYOB’s connected accounting vision by making cloud accounting easier for accountants and their clients, according to the global software provider.

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General manager, accountants division, Adam Ferguson said MYOB is focused on bringing accountants and clients closer together with the vision of the common ledger, which enables real-time collaboration on financial data in the cloud.

“The purchase of Dovetail is the next step in our vision of helping accountants move online,” he said.

“The platform will extend the accountants' capabilities beyond financial data management to deliver an integrated, collaborative experience through intuitive workflows, document management, work approvals and more.

“The outcome of this integrated workflow is improved accuracy, superior turnaround time, reduced data-entry, increased client participation, and increased revenue for the practice,” said Mr Ferguson.

Craig Stanmore, chief executive and director of Jaques Stanmore Financial Group, said an online collaboration platform would significantly enhance their client relationships.

“From our perspective as an accountant, the increase in connection to our clients will lead to more client engagement, allowing us to seamlessly partner with the client to achieve their goals,” he said.

“This also gives us the opportunity to transform our service offering from ‘informing and compliance’ to ‘advisory and coaching’, assisting clients toward growth and their aspirations,” said Mr Stanmore.

MYOB strengthens its online capabilities
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