5 MYOB Benefits That You Need To Know About | CogTek

August 21

5 MYOB benefits you need to know about

For growing businesses, there’s always a need to invest in powerful and scalable management solutions that will grow and adapt to the business itself.

 

When more staff members are added to the roster, revenues increase, and more suppliers start to work with an organisation, business managers will be faced with a multitude of business challenges.

 

However, when they have a reliable system to help them manage these processes, their ERP management capabilities will be far more streamlined and easier to handle.

 

In this blog post, we’ll look at some of the MYOB benefits your business can experience in the long run.

 

1) Higher productivity levels and lower operating costs

One of the best features that ERP management systems like MYOB offers is automation.

 

With automation, your employees will be free to focus on other vital areas of the organisation while MYOB handles ERP-related tasks. This way important areas of the organisation won’t be overlooked and productivity can be increased.

 

Also, the MYOB platform will be a repository for data from all departments in your organisation, making information easier and faster for stakeholders to access. This saves time people would have to spend looking for the documents and data they need, giving them more time to focus on their other daily tasks, ultimately boosting productivity.

 

Additionally, by increasing operational efficiency, MYOB can help cut costs and boost profitability across all your organisation’s departments. The system enables this by eliminating delays and facilitating real-time analysis.

 

2) Automation and improved visibility

MYOB allows workflows between departments to be clear and automated, making the transition of work and information between departments seamless and quick. This way, tasks can be completed faster and tracked to ensure that they are finished on time.

 

Also, MYOB ensures that all processes and operations are visible to everyone in the organisation, including employees in junior and senior management, stakeholders and shareholders. This visibility ensures everyone is on the same page with the organisation’s operations and processes.

 

3) Improved supply chain management and financial planning

MYOB ensures functions such as inventory processes, procurement, customer delivery, and manufacturing can be streamlined, allowing your organisation to improve profit forecasting, allocate staff, and acquire raw materials.

 

Additionally, MYOB also comes with accounting and financial management features. This will allow you to keep track of your organisation’s financial health by handling bills from customers and vendors in one unified system.

 

Also, this will make it easier for you to analyse all your accounting statements so that you can see what can be changed to improve profitability.

 

4) Better communication and collaboration

Since MYOB provides easy access to data, employees will have all the information they need right at their fingertips. This allows them to stay on top of things and make better decisions. In this case, employees won’t have to communicate with departments directly to get the information they need.

 

Also, when employees have the information they need, they understand what needs to be done and are less likely to make mistakes that may lead to delays and even financial losses.

 

Additionally, when employees can access data from other departments, they can collaborate with their co-workers more easily.

 

5) More data security

All data related to sales figures, finances, business operations, and so on are stored within MYOB. Even though the data is accessible to multiple users, the data is still protected by MYOB’s internal cloud-based protection measures, such as multi-factor authentication, software updates and preventing the installation of unauthorised programs.

 

This ensures your organisation’s information is protected and safe from potential cyber-attacks.

 

Experience the many MYOB benefits today

MYOB offers a plethora of benefits that can help you streamline your work processes, boost your productivity and profitability, improve communication between your teams, and ultimately increase customer satisfaction levels.

 

And if you want to get the most out of MYOB and other ERP systems like NetSuite, work with a well-reputed MYOB partner today