MYOB applications are designed to help business owners and managers run operations smoothly and easily so you can maximise your time and profit. They aim to assist and support operations by providing easy solutions for handling accounting systems, payroll, inventory and other important functions in running a business, whether small or big.
There is no better option when it comes to choosing MYOB Advanced and MYOB Exo. Both are great tools for businesses. The most important factor to consider is which option fits your business needs the best.
We have made a comparison between MYOB Advanced and MYOB Exo so you will be guided accordingly when choosing which one is the most appropriate for you and your business.
- MYOB Exo was originally designed to be hosted in your own space requiring your own server hardware and a Microsoft SQL database. This means needing more space and spending more money on the hardware. This is good for large scale businesses that have more data to store and process. Recently, because of new advances in hosting and data centres, MYOB Exo can now be hosted so there is no need for getting your own server.
- MYOB Advanced, on the other hand, functions as a Software as a Service (SaaS) system. You do not need a server or a Microsoft SQL database. You can access the MYOB Advanced software through your internet browsers like Google Chrome, Firefox, Internet Explorer, or Safari. You just need a fast and reliable internet connection.
How To Avail The Service
The cost for both MYOB Exo and MYOB Advanced are both dependent on the number of users and functionality you will use. The difference is:
- With MYOB Exo, you need to buy the user’s license upfront and its yearly annual license fee for as long as you want to continue using it.
- With MYOB Advanced, you can pay for a monthly or yearly subscription based on the license level you choose. Different levels allow a specific number of users to use different functionalities.
Segregation of Duties
- MYOB Exo is a very user-friendly and efficient piece of software but it is also generic in its assignment of duties. The separation of duties is not as clear cut as MYOB Advanced. This is not always a disadvantage. Depending on your type of business and your operational dynamic, generic access can work well for you.
- MYOB Advanced is more specific when it comes to the assignment of duties. This gives users accountability because one or more users can be required to complete a task or be assigned to specific functionality in the system.
- MYOB Exo gives business owners and managers direct access to your information database since it uses Microsoft SQL database. Because of this, configuration and integration with other systems are possible. And upgrades to the system will not impact your data.
- MYOB Advanced does not provide business owners and managers direct access to the database because it uses MySQL as the underlying database. All changes and upgrades must be done in the SaaS environment and will require an Application Programming Interface for any configuration that will be made.
Multi-Company Use of General Ledger
MYOB Advanced allows business owners and managers to group multiple companies into one software. There is one access for all departments and companies regardless of location including international locations.
MYOB Exo does not have this feature. It is safe to say that MYOB Advanced is a good option for bigger, larger-scale companies. It is also a good option if you want to future-proof your growing enterprise.
There are two important factors when you are considering which MYOB option you will take
- Your current business needs and operational requirements.
- Your anticipated needs in the future.
This will help you avoid additional costs in the future for upgrades or purchasing a new system.
Do you have any specific requirements in running your business? For more information regarding the best MYOB system for your growing business, call us now and talk to our MYOB Consultants at STRATUS SMART SOFTWARE SOLUTIONS.
Let us help you get set up with the best business solution for you and show you how to run and manage your business efficiently, anytime, anywhere. We help businesses just like yours grow and thrive especially during this COVID-19 crisis.
We are accredited and experienced MYOB Australia/NZ Enterprise Partners with a dedicated team of business, accounting and IT Consultants who are passionate about helping Australian businesses grow. We are dedicated to MYOB, and we are dedicated to you.
Call us today on 1300 499 000 or fill out our inquiry form and we will get back to you within 24 hours.