MYOB Advanced is one of the best, most reliable cloud-based platforms for enterprise resource planning (ERP). It offers the best accounting solutions for businesses of all shapes and sizes, enabling such firms to manage their inventories and financials in the most cost-effective way possible. The platform is rich with diverse applications, functions and features, allowing for firms to have complete, unrivaled control of their finances. However, that’s just scratching the surface of what MYOB Advanced can bring to your business’ accounting processes and efficacy. Read on to find out more.
Cohesive end-to-end management
One of the defining features of the MYOB Advanced software is that it offers the complete package, from end-to-end. You won’t need to supplement gaps or holes in this cloud-based software because there aren’t any holes. Anything related to enterprise resource planning can be achieved and developed using this software.
Another facet of MYOB Advanced that sets it apart from the rest is that it is incredibly functional and versatile. The General Ledger structure means business owners can track costs and revenue using a full suite of clear and compelling financial analysis reports, which include GST and BAS.
Perfect for global businesses
This dynamic platform is perfectly tailored for companies that operate across international lines. Indeed, it has full support for handling exchange rates, international currencies and other forms of exchange, regardless of location.
A robust CRM module
The software’s highly regarded CRM interface is one of its most significant drawbacks. Customer relationship management (CRM) is a critical aspect of any business since it helps companies stay connected to customers, streamline processes and improve their financial performance over time. By enhancing your business relationships with your customers, you are more likely to build customer loyalty in the long run. You can manage contacts, prospect databases and client lists using reliable and dynamic CRM module built into the MYOB Advanced.
Manage complex distribution issues
The system also enables businesses to track their inventory levels and production costs across a wide range of different business functions, warehouses and inventory channels. For global, transnational corporations, purchasing, tracking orders and inventory management would be impossible without a resource planning scheme that records all information in real-time.
Best practice industries
The MYOB Advanced system can be applied to many different business sectors. It has already become commonplace in professional services, retail, financial services, distribution, wholesaling and trade services. However, the system is becoming increasingly engrained in other industries, like construction, manufacturing, not for profit, entertainment, engineering and even agriculture.
Typical benefits and improvements
It’s undeniable that MYOB Advanced has brought a plethora of advantages to millions of business entities across the world. Here are some of the most common positive comments from satisfied customers:
- Higher productivity levels
- Streamlining of complicated business processes
- Enhanced interpretive turnover of reports
- Quicker, more impactful decision making
- More clearly realised strategy development
- Bolstered supply chain management
- Stronger cost-saving initiatives
- Improved visibility of data (more secure)
Why you need cloud-based ERP
Finally, there is a lot of evidence to suggest that more businesses should be making the switch to cloud-based ERP management. It provides customers with real-time access to their data, anytime and anywhere. This means clients can get access to their data remotely, which means improvements to productivity and finance can be achieved in socially distanced settings. As a result, cloud-based networks have fared better than more traditional, centralised forms of ERP during the ongoing coronavirus pandemic and economic crisis.
So, if you want to future-proof your business against further debilitating shocks in the global economy, you should seriously invest some time into researching MYOB Advanced. You won’t regret it!