The accounting software revolution has changed the small business landscape, allowing businesses to delve into what drives results within their business. Specifically, cloud technology has given business owners access to real-time data, which has provided SME’s with financial information that allows decisions to be made quickly, to increase business performance.
This influx of technology has meant that different accounting software solutions are available to suit specific business models, with different levels of technical understanding. The XERO vs MYOB discussion has been a well-documented one, so we wanted to share our opinion from us here at Minnik Integrated Financial Solutions.
Tips from Leah
MYOB
MYOB accounting software is one of the traditional accounting software’s available in the Australian market. Beginning life as a desktop software package, MYOB have now attempted to shift to the world of cloud based technology, with their MYOB Essentials subscription-based offering.
Although MYOB generally has longer loading times and may feel clunky throughout use, it is improving. In saying this, time is your most valuable asset as a small business owner, and the learning curve and user experience using MYOB software could become a costly time factor for your business. Even though MYOB now offer their Essentials software, which is 100% cloud based, this cloud technology is a relatively new market for them, which means that the product is yet to reach its potential. Longer loading times, and a not-so-friendly user experience is likely to have a negative impact on the time spent on your business’s financials.
XERO
XERO is known for its ease of use and 100% cloud approach, and is a truly beautiful, user friendly software. XERO Accounting Software is a newer option than MYOB, and has rapidly achieved a tremendous share of the market not only in Australia, but globally.
So how can XERO benefit your business? Besides its ease of use, multiple users have access to your XERO portal, ensuring your key business stakeholders can collaborate with your advisors, to make important business decisions. XERO’s leading mobile approach allows you to invoice on the go, and to get paid faster. We see XERO as the ultimate business tool, which allows you to really understand what makes your business function, and ultimately drive your business forward.
Our Opinion
Here at Minnik Integrated Financial Solutions, we are advocates of XERO Accounting Software, which has successfully brought to businesses a whole new way of managing their financials. Being able to simply process once high level functions, has produced automated, efficient and cost effective business accounting solutions. If your business is considering migrating to XERO accounting software, get in touch with the team at Minnik, and find out how we can help.
Minnik Integrated Financial Solutions are specialists in business advisory and personal wealth management. Contact us today to discuss your financial needs, and embrace your journey to wealth. www.minnik.com.au