The solution, named MYOB Advanced, is the software provider’s first cloud-based product to target the medium to large business market.
Andrew Birch, MYOB general manager of industry solutions, said the product has been built to help more businesses capitalise on the benefits of the cloud.
“MYOB Advanced is designed to help larger businesses think bigger, with a range of cloud-enabled features to streamline customer interaction and equip staff with the tools to operate effectively and productively – wherever they are,” he said.
According to Mr Birch, the product offers a wide range of features focused on the real-world needs of businesses and is easily customisable to suit the individual organisations.
“In this segment of the market, customisation is very important,” he said.
“These are sophisticated clients and while they have some fundamental basics that are all very similar they have a lot of very specific needs and so the system needs to be able to be configured for them.
“It’s a very flexible system that can grow with the business and we have positioned it with three editions ... there is an entry-level edition, a mid-level edition and then a larger edition.
“The good news is that, as a business, as you grow you don’t have to migrate your database or anything, you can just go up to the next level and the next level again and so it’s a very simple process.”
Mr Birch said he is confident the market segment is ready to move to the cloud and embrace the associated benefits, with MYOB expecting to see strong uptake of the new product in the short to medium term.
“We look forward to seeing even greater take-up of our products across the mid-market, as larger enterprises embrace the benefits of the cloud and the opportunities for greater staff and customer engagement through the use of a state-of-the-art ERP system,” he said.
The product is based on the Acumatica cloud solution developed for the US market. Late last year, MYOB announced it had taken a minority stake in Acumatica and taken a seat on the company’s board.
Amazon Web Services has been chosen to host the product locally with Mr Birch citing the need for a safe, dependable local hosting service as key to the decision.
“They're best in class; they’re locally based here in Sydney, highly reliable and very scalable. We did a lot of work working out which platform and how best to do it and then how best to provision the solution on that platform,” Mr Birch said.