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MYOB launches AccountRight Live for seamless cloud and desktop work
Posted on 8-Nov-2012 06:59. | Tags Filed under: News.

MYOB has announced the release of its cloud accounting solution AccountRight Live. MYOB AccountRight has been used by smaller businesses for two decades. AccountRight Live is a full-featured accounting solution which enables SMEs to seamlessly manage their business anywhere, anytime on the desktop and in the cloud.

MYOB has also established live 24/7 client support by phone, email and online, supported by new roles in its Christchurch office.

MYOB general manager Julian Smith says the design of the new product reflects MYOB’s commitment to making it easier to get more Kiwi businesses enjoying the benefits of cloud computing.

“AccountRight Live will help transform the way New Zealand businesses work,” says Julian Smith. “The advantages of the cloud can help them work more productively, collaborate more, and work from anywhere.”

“For the thousands of business owners who use and trust our AccountRight desktop software range, this new product allows them to easily experience the benefits of cloud at their own pace. They don’t need to migrate data to a new system or learn a new interface; they simply install our latest release and turn the live features on.

“It’s the next evolution in online accounting that will make business life easier for New Zealanders.

“As we’ve highlighted, we believe this approach is key to engaging the mass market – including the more than three quarters of local businesses who don’t currently use a cloud system – in using the cloud. They can choose to do their accounts in the way that suits them: online, offline or by alternating between at any time.

Mr Smith says by bringing more New Zealand businesses into the cloud, the potential of AccountRight Live for the local business community is significant.

“We know that businesses using the cloud do better, earn more, and are more likely to be providing better paying jobs for more New Zealanders.

“Another key benefit of cloud accounting is the potential for collaboration. With AccountRight Live you can work on your data with your accountant, bookkeeper, business advisor and other team members in different locations, at the same time.”

All changes made in the cloud are saved in the one file in real-time. For additional security, a back-up of the file is copied to the desktop every 20 minutes or whenever specified – ensuring businesses remain in control of their vital business data.

AccountRight Live also enables businesses to directly link their bank accounts, providing bank feeds from more than 100 leading banks and financial institutions. This allows transactions to be automatically and securely imported, reducing manual data entry and improving accuracy.

Julian Smith says security – a key concern for New Zealand businesses, particularly when considering using the cloud – is at the core of the new product.

“AccountRight Live is a great example of industry best practice. Throughout the development process, we’ve included security specialists in the design and construction of our architecture and testing,” says Julian Smith.

The product was also externally validated by a specialist, third-party security vendor, with a full code review performed by a separate A-class vendor and penetration testing of the final system done by another third-party.

By allowing businesses to authorise other users, such as their accountant, sharing information also becomes more secure.

“You can also authorise others to access your data simultaneously from any location. This eliminates the need to deliver data to your business advisors via CD, USB, email and other less secure means,” says Julian Smith.

AccountRight Live also allows businesses to access their accounting data regardless of whether they have an internet connection available, because a copy of the application is loaded onto their computer.

When online, the products business logic and data are in the cloud while the desktop provides the interface. Businesses can also work offline by checking out of their online file. The application then puts the shared version in the cloud in read-only mode, to avoid duplication, with all changes seamlessly synced back up to the cloud and the exclusive lock removed, when users reconnect.

“For local businesses, we believe this simple, evolutionary step-up to the cloud will allow them to enjoy the considerable productivity benefits of the cloud, while still working the way they want to,” says Julian Smith.

“In creating this product, we’ve worked hard to remove the barriers of time, complexity and cost that Kiwi businesses say are holding them back from the cloud, so they can connect more, collaborate more, become more productive and have more time to work on their business.”

AccountRight Live is available on the MYOB website and via MYOB partners on 8 November, with subscriptions starting at $23 per month.

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