MYOB Exo User Group
- March 2021 -
As always, the March 2021 User Groups were a great chance to learn from the experts about all things MYOB Exo. The theme of these sessions was Complete Control, where we explored how finance and administration tasks could be taken to the next level with the use of MYOB Exo. We had access to an extended panel of presenters who covered topics from the future of MYOB Exo, to how to automate your systems for security and efficiency. We were thrilled to host over 80 attendees to our sessions, and that they gained a lot of useful knowledge to take back to their companies.
If you missed out on joining the live sessions, or just want a refresher on the most important info, then read more about the Top Things we Learned from the March 2021 MYOB Exo User Groups here.
There is a bright future for Exo
We were lucky to have multiple speakers discussing the MYOB Exo roadmap on both the macro and micro level. The biggest takeaway is that MYOB are looking to connect directly with you, the users, to further plan the future of the system. If you think there is specific functionality that you feel MYOB Exo should have, now is the time to contact your partner and let MYOB know! The panellists were also excited about the recent graphical updates to Exo, especially allowing the dynamic display resolution that tracks from your computer settings.
“MYOB Exo is a phenomenal product, and has still got a long way to go in its life. It really has.”
James Brading, MYOB’s Senior Product Manager Enterprise
MYOB Exo really is looking better than ever following the conclusion of the User Interface overhauls. Our experts always recommend that you use a version of Exo that is supported by MYOB. They operate off a two-year support cycle, so 2019.1 is the oldest supported update in the rotation.
You worked hard and invested in MYOB Exo as an early adopter of ERP, so it would make sense to regularly update your system, to take advantage of the newest features as early as possible. However, only 20% of current MYOB Exo users are on a supported version of MYOB Exo. What we learned from the attendees is that there is some hesitation to upgrade to a newer version. One of the reasons mentioned in the User Group was the risk of losing their custom reports. But fear not, your partner is there to support you through the upgrade, making sure your previous settings, data, and reports are all still available and functioning properly. So, you can gain all of the new functionality and User Experience upgrades, without losing out on your customised features.
MYOB Exo, the cloud, and your options
MYOB Exo is well-known as a powerful on-premise ERP solution, and while the market is trending more towards the cloud space, moving Exo into the cloud is a real possibility for every company. If you require cloud-based access and a little more flexibility from your ERP system there are several available options:
Simple Connectivity Model
Cloud Hosting Model
Hybrid Model
Software as a Service Models
The simple connectivity model usually relies on connecting to a remote desktop via a VPN. While this relies on a stable internet connection, it is fast and easy to set up. This has been key to allowing staff to work from home over the COVID pandemic and is a very common option for many businesses.
Cloud hosting is an extra step up from the simple connectivity model. Instead of using a VPN, you access your MYOB Exo system through a web browser. However, unlike a connectivity model, your system is hosted offsite in a 3rd party server environment. This allows direct access to your database, without the need for on-premise server maintenance.
Hybrid models leverage best of breed cloud-based connected services alongside your MYOB Exo system. While these require proper integration, these add-on products push and pull data from MYOB Exo to keep both systems updated and remove the need to duplicate your data. These products are purpose built and allow you to elevate MYOB Exo past its normal limits.
Finally, the Software as a Service model is for those businesses who need to fully realise the power of the cloud. The licenses are charged based on a monthly subscription, with no need for additional software or hosting costs, as the platform is settled entirely within the cloud. Cloud-based solutions like MYOB Advanced can be accessed by either a mobile app, or web browser. This may be an option for those whose current on-premise software is not fully meeting their needs. MYOB Advanced adds in additional, scalable features to meet the needs of growing businesses.
Complete Control of your Accounts
We were very thankful to be joined by representatives from our new sponsors expensemanager and ezyCollect, who discussed how to increase control over your AP and AR processes.
Expensemanager is an intelligent spend manager that automates a lot of Accounts Payable processes. Automation helps to mitigate risk by protecting from fraud, streamlines your process by reducing the impact of manual data entry, improves compliance by enforcing policies and limiting ad hoc spending, and keeps your business agile and proactive. MYOB Exo can be enhanced by expensemanager to enable a mobile workforce, especially for your Accounts Payable team. Hyperautomation of your invoice process also makes a big impact on your MYOB Exo system. Optical Character Recognition (OCR) technology balances human input (to amend errors) and machine learning (to learn from them), and results in the automatic processing of your invoices.
ezyCollect is a debt collection system that automates the contact of customers, prompting payment and allowing you to get paid faster. However, they spoke to us about onboarding and the risks that you may face when not using the proper tools to check on your new clients’ credit worthiness. When opening a line of credit, you open yourself up to risk of bad debts when your customer cannot pay you back. This costs you money and jeopardises your bottom line. We saw how ezyCollect’s risk management platform could help you onboard new customers, giving them a risk score to help you make better decisions. Having this information fosters greater trust in your new customer. ezyCollect are offering our User Groups community the chance to get 3 free customer credit scores through their Credit Insights platform. Protect your business from unpaid invoices; find out whether your customers are a risk for late or non-payments and take decisive action.
Thank You to All Involved
Above all, the MYOB Exo User Groups are a chance for the users and experts to share their insights and keep you informed about updates, features, and Business Process Improvement news. We would like to thank our sponsors Kilimanjaro Consulting, Enprise Solutions, ezyCollect, and expensemanager for their support in making these events happen, as well as acknowledge the input from MYOB, Kim Clarke, and James Brading.
Do not miss out on any of these valuable, free events in the future. Make sure you receive our exclusive early invitations by subscribing to our newsletter. For any other queries contact us here.
If your business is evolving and you a looking for a more sophisticated ERP solution; consider engaging with our consultants for a Business Process Improvement project. Their industry best practice methodology begins with a COVID-safe, on-site visit to collaborate and identify your own goals and objectives. They can advise the appropriate ERP solution for your business as well as recommend any Connected Services that can be integrated with your system to ensure your processes are being completed efficiently. Kilimanjaro Consulting is the leading implementer of MYOB ERP solutions in Australia, and Enprise Solutions is the leading implementer of MYOB ERP solutions in New Zealand.
If you wish to get in touch with Kilimanjaro Consulting, you can call 1300 857 464, or email support@k-c.com.au. If you wish to get in touch with Enprise Solutions, you can call 0800 436 774 or email support@enprise.com.
