More than 1.2 million businesses across Australia and New Zealand are now actively using MYOB SME solutions, with a milestone of more than 500,000 now regular paying clients with the cloud accounting firm.
A record figure which was achieved in December 2014, of these regular paying clients, over 116,000 are cloud subscribers, which again smashes another record figure for the company.
In the latest quarter ending 31 December, over two thirds (67%) of new MYOB SME product registrations were cloud subscriptions - this compares to 61% in the quarter ending 30 June 2014 and 48% in the comparable quarter for 2013.
“Achieving 500,000 regular paying clients is an exciting milestone, reflecting the fantastic pace at which the market is adopting our cloud offerings," says James Scollay, General Manager – SME Solutions, MYOB.
"We recognise that small and medium businesses have different and specific needs and have invested significantly in R&D, with over $40 million invested in 2014 alone, to develop a range of leading-edge cloud solutions."
According to Scollay, the uptake of the company's cloud solutions is driving growth of total, paying and online users.
"Our cloud solutions suite provides SMEs in Australia and New Zealand with a wide range of available solutions, so we’re able to meet their needs at any stage of their businesses growth cycle," he adds.
"With our suite of exciting products that make business life easier for micro, small and medium-sized enterprises, and significant investment in R&D, we are positioned well for continued growth moving forward."