Available November 8 from $23 a month.
MYOB held a gala launch party with much fanfare for its cloud accounting service AccountRight Live at an event yesterday morning in the Rocks, Sydney. The cloud service, which lets MYOB’s AccountRight users view and edit their accounts online and share them with their accountant or bookkeeper, would be available on November 8.
MYOB CEO Tim Reed promoted AccountRight Live as an Australian-first cloud accounting solution that would bring the productivity benefits of the cloud to hundreds of thousands of business owners already using AccountRight. The ability to seamless switch between the desktop and cloud was an Australian first, Reed said.
“AccountRight Live will change the way our clients do business. Now, hundreds of thousands of business owners who use and trust our AccountRight desktop software range can 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,” Reed said.
AccountRight Live gave users access to the full AccountRight program in the cloud including inventory, payroll, general ledger and accounts. Two in three Australian businesses used accounting software and of those, three in every five relied on MYOB accounting software, primarily AccountRight, MYOB said.
“The time, effort and cost savings from cloud accounting are a game-changer for businesses. 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 are saved in the one file in real-time,” Reed said.
“For additional security, a back-up of your file is copied to your desktop every 20 minutes or whenever you want. This allows business owners to remain in control of their important data.”
MYOB had heavily tested the security of its cloud application by using a range of third-party companies to validate the program’s design, review the program’s code and test for security flaws.
Senator Stephen Conroy, Minister for Broadband, Communications and the Digital Economy, took to the stage to talk about the importance of cloud computing to the national economy.
The digital economy is critical to Australia’s future and MYOB AccountRight Live is key to SMEs leveraging it, Conroy said.
Conroy spoke about the federal government’s commitment to cloud computing and the digital disruption it will bring. Drawing on an analogy from a Deloitte report on the topic, Conroy said cloud computing would have “a short fuse and a big bang” in its impact.
Minister for Small Business, Brendan O’Connor, also spoke. “Cloud computing has the capacity to generate greater industry development and resilience,” O’Connor said.
Pip Marlow, managing director of Microsoft Australia, also attended.
Key features of AccountRight Live included the ability to access accounts, inventory and payroll from any internet connection, including wireless and 3G networks. Users could save their data in the cloud and to their PC for greater security.
Bank feeds, currently in beta, would automatically import and match bank transactions from over 100 financial institutions to the desktop and cloud product.
A “Business insights dashboard” gave a comprehensive daily snapshot of a user’s business and MYOB could automatically update the software with new features and payroll updates without user intervention.
The software was fully compatible with Microsoft’s latest operating system, Windows 8. Developers would soon be able to create and integrate applications through an API (application programming interface) which would be released in the coming months.
MYOB also announced it was bringing 24×7 support by phone, email and online channels to its small business accounting products which would be free to MYOB Cover subscribers and provided for a charge to non-members.
The support coverage was far more comprehensive than rival cloud programs some of which only offered email and online support.
AccountRight Live was available from 8 November for existing AccountRight Plus, AccountRight Standard and AccountRight Basics users. It would be available for AccountRight Premier next year.
Subscriptions for AccountRight Live started at $23 per month. MYOB Cover members received access at no extra cost. Clients who purchased an AccountRight desktop license from 1 October 2012 were given six months free access. All AccountRight Live clients received 24/7 live support.