Hi all,
Today we are celebrating the first birthday of our online accounting service AccountRight Live. Over the past year we’ve been really pleased to enable so many businesses to utilise the cloud to help make business life easier.
Over the past 12 months, businesses have told us that online accounting is helping them save time and money.
For example, many business owners no longer have to spend hours each week keying bank transaction data into their financial accounts. SMEs utilising bank feeds – a service that automatically feeds bank transactions into software like AccountRight Live and LiveAccounts – say it saves them an average of 10 hours per month. Bank feeds enable them to spend 42 per cent less time on bookkeeping.
In the recent survey of 600 small and medium-sized businesses, Australians valued those 10 hours a week at $713, while New Zealanders valued the time at $458. What is clear is that the value of the software’s functionality is many times higher than its cost.
“Here’s real proof that MYOB’s accounting software, and in particular bank feeds, can significantly change our clients’ business lives for the better,” says MYOB CEO Tim Reed. “It pays for itself many times over.”
The time savings are also significant in the context of how time-poor business owners can be. “We know SME operators often sacrifice personal and family time in order to run their businesses,” Tim says. “This kind of time and cost saving is equivalent to a day off a month or a couple of weeks’ holiday each year.”
Speaking of time savers, make sure you read today’s profile on one of our most active contributors to the Community Forum – Jennie Kingma. Better known as jenniek, Jennie works tirelessly to assist others and generously share her two decades of experience with MYOB software. I hope you enjoy getting to know her a little better.
On the Community Forum this week our most active contributors were Julie_A_C, Marilyn, TonyLane, Geoff_ and jenniek. Special thanks also to Mike_James who had multiple posts marked as Accepted Solutions. We really appreciate the contribution these leading contributors have made. Please remember to mark a post an Accepted Solution if it solves your issue so you can help others.
A special welcome to the 190 new members that joined the Community Forum in the past seven days. There was plenty of activity this week on the forum, with over 430 new posts, including over 120 from MYOB staff. Please let us know if you need any assistance with your software or getting the most from the Community Forum – we are happy to help.
Love your work,
Jason Hill
Community Manager
