Business management solution MYOB is “upping the ante” in its cloud ERP platform, with new AI functionality and 250 features, enhancements, and updates that it says will supercharge the performance of mid-sized businesses across Australia and New Zealand.
MYOB’s new capabilities focus on three key themes, the provider said in a statement: productivity boosts, increased visibility for decision making, and being future-fit through greater adaptability.
To this end, it has launched three new artificial intelligence (AI) experiences, which it said are set to transform the way mid-sized businesses use the MYOB Acumatica platform.
Designed to assist, automate, and advise, the provider said, MYOB Acumatica AI “enhances productivity by helping users interact more intuitively with the platform, streamlining repetitive tasks, and providing data-driven insights to support business leaders on the important decisions they make daily”.
Speaking about the updates, MYOB general enterprise manager – product and product marketing, Valentis Vais (pictured), said Acumatica AI is led by a focus on practical AI that helps businesses do and achieve more.
“Mid-sized businesses are often quick to embrace new technology and our latest data highlights that AI use by this segment has reached a turning point, moving beyond experimentation and promise, to genuine impact,” he said.
“Nearly half of the businesses we polled are already seeing productivity gains from their existing use of AI, and looking ahead over the next 12 months, there’s a strong intention among these business operators to scale their use of AI across core operational workflows to deliver more value.”
“This is precisely where the latest developments to our platform come in – it’s not about AI for the sake of it, but applying AI with tangible purpose through MYOB Acumatica to drive efficiencies and accuracy that can be converted into real performance gains,” he said.
The provider went on to say that AI automation boosts financial processes in MYOB Acumatica, with Accounts Payable Bill Entry capable of reading supplier invoices and automating bill data entry before routing it for approvals, and new AI Expense Creation converting receipts into expenses directly in the platform.
An AI Advisor will take care of anomaly detection, convert ERP data into actionable insights, and deliver predictive forecasting capability, while an AI Assistant will make the platform easier to use, the provider said, thanks to predictive text and autocomplete reducing time spent completing common fields.
Vais added: “In conversations with our customers, it’s becoming increasingly evident that mid-sized businesses want to use technology to do more with less - and they believe AI can help them.”
“From cutting bill entry time from minutes to just seconds per invoice, to faster processing of expenses for quicker reimbursement, our early adopters are already seeing results,” he said.
“With the ability to leverage predictive intelligence for a greater strategic advantage coming soon, the power of AI continues to transform MYOB Acumatica as the platform does the heavy lifting so local mid-sized businesses can accomplish more and truly thrive and succeed.”
Elsewhere, the provider said that improving supply chain workflows is a key focus in the latest MYOB Acumatica enhancements, with attention to greater traceability helping mid-sized businesses to get items where they need to be, with fewer steps.
Strengthening audit trails and improving picking accuracy, users can capture full-lot and serial attributes at receipt and have those details instantly searchable during sales, MYOB said.
Vais said: “These updates are about offering clearer insight, less friction, and stronger control across every stage of the supply chain.”
“We’re helping mid-sized businesses streamline how goods flow through their operations, with tools that make traceability effortless and accuracy the default.”
“Across this release, our focus has been on visibility, automation, and readiness for what’s ahead.”
“These enhancements target the core areas our customers work in every day, delivering the clarity, speed, and confidence mid-sized businesses need to keep their operations moving and their teams focused on growth.”
Get breaking news
iscover
