An online accounting package called LiveAccounts designed for small businesses that need to raise invoices, track expenses and manage income will be available from MYOB in June. MYOB CEO Tim Reed says the offering was developed in response to an independent survey of over 950 local businesses which found business owners are looking for online tools and functionality, but prefer to run their business from the desktop.
The independent research indicates that the majority of local business owners would prefer to have both desktop and online services. According to the research, the software as a service (SaaS) model appeals to less than a quarter of all of SME businesses with only four percent of businesses wanting to operate all their business processes on the internet.
In contrast, combining the desktop software and internet services appeals to more than half of all SME businesses (58 percent).
He says MYOB’s online strategy is to provide a range of products and services that enables business owners to make the most of the internet and their desktop to run their business they way they want to.
According to Reed, LiveAccounts is a great example of this approach.
“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,” says Reed.
Some of the feature will include accounts linked to daily bank feeds via BankLink for automatic updates of bank and credit card transactions and no limits on use or technical support.
Business owners can migrate data from other MYOB desktop products to LiveAccounts.
They will also be able to try the software for 30 days free of charge. A price point of $35 is being considered.