MYOB Among Apps Top 500

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MYOB Strengths, Domain Expertise, and Key Differentiators

MYOB offers business management solutions - more than 50 of them. These run the gamut of accounting, payroll, payments, retail point of sale, CRM and professional tax solutions - and more. With a diverse portfolio, but one that operates exclusively in Australia and New Zealand, MYOB is able to deliver solutions well-tailored to specific markets. It’s go-to-market strategy includes selling direct, through channel partners and also includes a network of over 40,000 accountants, bookkeepers and other consultants ready to assist small to medium size businesses throughout the region.

MYOB Recent Developments

In October 2021 MYOB doubled down on its efforts to take more small and medium sized enterprises (SMEs) to the cloud, and unveiled its completely reimagined platform, MYOB Business, allowing SMEs to take charge of their own software through a new module approach to business management. MYOB has embarked on a significant transformation in recent years, investing heavily in a new cloud-based platform, offering business management tools for Australian and New Zealand businesses. MYOB Business is a consolidation of the Essentials and AccountRight product lines on a single SaaS platform, allowing customers to seamlessly move between subscription plans as their business evolves, and configure their product in a way that's right for them. Five subscription plans are now available including Lite, with core business features for smaller businesses with room to grow, and Pro, for rapidly growing businesses. AccountRight Plus and AccountRight Premier are a part of the MYOB Business product suite and contain all their existing functionality for more complex businesses, with a continued investment in the browser experience. There will also be a payroll only product for up to four employees.

In September 2021 MYOB introduced a new program that will enable businesses to “set and forget” recurring payments via direct debit capability. The new functionality, MYOB Direct Debit, rounds out MYOB’s invoice payment workflow with a deeply integrated experience. Through the improved MYOB invoicing workflow, businesses can request payment of an invoice through a built in “pay now” button or set up a recurring direct debit. The invoice and subsequent payments are reconciled automatically to the profit and loss report, enabling a fully automated end to end invoicing workflow.

Also in September 2021 MYOB formed a joint initiative with Procore Technologies, Inc. to provide an intuitive and integrated new platform for construction firms, nearly a year after launching its MYOB Advanced Construction Edition. Procore is a leading provider of construction management software, with more than 1.6 million users worldwide and the new partnership offers Australian construction businesses a best-in-class digital solution that effectively manages all areas of their projects – from resource and project management, to financials and payroll.

In April 2021 MYOB launched its MYOB Advanced Professional Services Edition, an industry first 360-degree business management solution designed for large accounting practices. MYOB Advanced Professional Services Edition arms practice managers with deeper insights to streamline operations, optimize services and best advise their small business clients. An extension of MYOB's cloud Enterprise Resource Planning (ERP) software, the Professional Services edition of MYOB Advanced is specifically designed for practices with more than 25 employees and is the latest industry-focused solution from MYOB. It joins previously launched editions with customized solutions for the manufacturing and building, and construction sectors.

In July 2020, MYOB has launched an integrated employee management tool specifically for small businesses with hourly team members, included in the cost of their software subscription. MYOB Team is available now for MYOB AccountRight users, sending time tracking data directly to the software. Features include a time-tracking app for mobile and tablet, an easy rostering tool and three time capture modes: real time clock on/clock off, timesheets and timesheets with time billing.

In June 2020, MYOB conducted a significant upgrade of its MYOB Practice and MYOB Essentials product suite. Extensive enhancements to functionality and usability are set to be released for small business and accounting and bookkeeping customers. Within MYOB Essentials, the upgrade brings a powerful reporting suite, a feature-rich, highly flexible payroll and mobile responsive experience to the platform. MYOB Essentials customers will have access to integrations from over 150 additional apps and add-ons, giving them greater scope to drive efficiency and productivity. MYOB Team, an employee management and self-service solution, will also be introduced. The updated MYOB Practice puts accountants and bookkeepers at the centre of the workflow, offering richer functionality such as the option to lock files once the work is done.

In March 2020, MYOB launched an online employee portal to support working parents, in partnership with Circle In, offering practical materials and tools for existing or soon to be parents. The Parents Hub is an online resource where MYOB employees can access information across different stages of their parent journey – from taking leave to returning to work and juggling life as a working parent.

In April 2019 MYOB launched a low-cost payroll product for micro-businesses, enabling Single Touch Payroll (STP) compliance. MYOB Essentials Payroll and a payroll component for MYOB Connected Ledger have been released, specifically for micro-businesses with 1 to 4 employees, with each available for $10 per month.

MYOB Mergers and Acquisitions (M&A) Activities

In November 2021 MYOB acquired Star Business Solutions – a leading business management and enterprise solutions partner - to bolster its direct sales and service channel for ERP (Enterprise Resource Planning) solutions. The acquisition will see Star Business Solutions bring decades of global software market experience, including customization and implementation of MYOB’s on-premises ERP solution Greentree.

In July 2021 MYOB officially introduced GreatSoft Practice Management as part of its accounting software portfolio, following its acquisition of the cloud-based business earlier this year. Highlighted at MYOB’s Showcase event for practice customers, GreatSoft now sits within MYOB’s product range to offer larger practices, or practices with complex management needs, the opportunity to streamline their business through features including job management, timesheets and work in progress.

Also in July 2021 MYOB acquired two leading enterprise solutions partners, Axsys and Exobiz, to play a key role in the development of MYOB’s recently announced direct sales and service channel for mid-market customers. MYOB announced its new direct sales and service channel model for ERP solutions to Enterprise partners in May, focused on increasing MYOB’s sales and support capabilities in anticipation of significant mid-market growth.

While not a current event, it is noteworthy to mention that in May 2019, US-based private equity giant KKR successfully completed its $2 billion acquisition of MYOB. KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. This made MYOB a private company and therefore we can no longer see the same level of financial details as we did through 2018.

MYOB Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying MYOB applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of MYOB and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified MYOB Essentials, MYOB Accountright, MYOB Essentials Payroll, MYOB Advanced, MYOB EXO, MYOB PayGlobal, MYOB GreenTree, MYOB Practice, customers.

MYOB Key Enterprise and Cloud Applications

MYOB Essentials, MYOB Accountright, MYOB Essentials Payroll, MYOB Advanced, MYOB EXO, MYOB PayGlobal, MYOB GreenTree, MYOB Practice,

MYOB Revenues, $M:

Type/Year 2020 2021 YoY Growth, %
Total Revenues, $M Subscribe Subscribe Subscribe
Enterprise Applications Revenues, $M Subscribe Subscribe Subscribe
Cloud Applications Revenues, $M Subscribe Subscribe Subscribe

* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.

MYOB Revenue Breakdown By Type, $M:

Type License Prof. Services Hardware Support & Maintenance SaaS PaaS IaaS Other (Non Enterprise Application Revenues) Total
% of Total Revenues Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe 100%
Revenues, $M Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe

MYOB Revenues By Region, $M

Region % of Total Revenues 2021 Total Revenues, $M 2021 Enterprise Applications Revenues, $M 2021 Cloud Applications Revenues, $M
Americas Subscribe Subscribe Subscribe Subscribe
EMEA Subscribe Subscribe Subscribe Subscribe
APAC Subscribe Subscribe Subscribe Subscribe
Total Subscribe Subscribe Subscribe Subscribe

MYOB Direct vs Indirect sales

Region Direct Sales Indirect Sales Total
Type % Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe

MYOB Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified MYOB Customers

No. of MYOB Customers: 30000

No. of MYOB Enterprise Applications Customers: 30000

No. of MYOB Cloud Customers: x

No. of MYOB Cloud Subscribers: 1.2 million

MYOB has over 1.2 million businesses as customers in Australia and New Zealand, including both on-premises installations and online subscribers, which represent a growing percentage. Among MYOB customers are Arcadia, DSK Engineering, Eastern Plant Hire, Trident, Adam Pest Control Pty Ltd, Catering Industries, Don Kibble, First Assistance, Nulab, Pristine Cleaning, Seashells Hospitality Group, Supply Chain Solutions, Tensens Cleaning Supplies, XPO Exhibitions, Australian Slate-Crete, Barkers of Geraldine, Brownies Mattress Direct, Prowler Proof, DDK Commercial Interiors, Rims Engineering, Edcon Steel, Enzed, Mustad, Floyd Instruments, Ullrich Aluminium, and many others.

MYOB Market Opportunities, M&A and Geo Expansions

After the acquisition, with KKR’s support and expertise, MYOB are even better positioned for future growth. They are confident the business will continue to thrive well into the future. A new MYOB Partner Program (see Ecosytem) that focuses on rewards for learning should also prove useful in discovering new opportunities. As a first for all MYOB partners, the program will offer various free certifications to individuals in practices, with an MYOB Business Certification being the first certification available. These firms largely refer business to MYOB. Providing partners with an opportunity to participate in a series of modules to become MYOB Business Certified, the new MYOB Partner Program will see them learn everything about MYOB Business and how to refer it. While its focus in the past has largely been small businesses, MYOB continues its acceleration into the mid-market. This should significantly expand its target market and opportunity.

MYOB Risks and Challenges

MYOB's acceleration into the mid-market signals a significant change in how opportunities are discovered and the sales process required to close new business. It’s acquisition of Star Business Systems is a good step to help mitigate this risk.

MYOB's Cloud push is gathering momentum, but it may have to take more drastic measures to stem the erosion of its on-premise customers, some of which have turned to Cloud offerings from fast-growing vendors such as Reckon and Xero.

MYOB Ecosystem, Partners, Resellers and SI

MYOB works with 3 types of partners:  Accountants and bookkeepers  Developer partner program and API  Training and education providers

In October 2021 MYOB, launched a new and rather unique Partner Program enabling partners to earn reward points as they learn. The program is designed to put a focus on education and strengthen relationships between partners and their clients by helping SMEs plan ahead and adopt digital technology to grow their business.

In September 2021 MYOB and global technology consultancy Thoughtworks entered into a partnership to help solve the technology industry’s biggest challenge: sourcing talent to design and deliver software product solutions. The new program will see both organizations focusing on providing emerging talent with valuable mentoring opportunities and real-world, operational experiences as they begin their tech careers. In July two of MYOB’s leading enterprise solutions partners, Axsys and Exobiz, were acquired. This changes the dynamic of the ecosystem as these 2 former partners take on direct roles in the development of MYOB’s recently announced direct sales and service channel for mid-market customers.

In June 2021 MYOB and Sydney-based fintech Valiant have forged an exclusive partnership to enable data-informed financing offerings for streamlined access to capital for Australia’s small businesses. The vision for the partnership is to deliver fully integrated, predictive financing options, where MYOB’s software will indicate to customers where they can anticipate upcoming capital needs and access potential lending solutions through Valiant.

While not a recent event, in the context of ecosystem, it is worth noting MYOB Advanced is an ERP solution that is based upon the Acumatica ERP Platform. MYOB Advanced is the Acumatica ERP system that has been modified for Australian and New Zealand business conditions. Acumatica cannot be purchased in Australia or New Zealand; only MYOB Advanced. The multi-million deal between MYOB and Acumatica, enables MYOB to localize and distribute Acumatica’s ERP solution platform, moving its offering to mid-sized clients into the online space.

MYOB Cloud Infrastructure Insights

Subscribe to read more about:

  • MYOB Public Cloud and Infrastructure (IaaS)
  • MYOB Platform (PaaS)
  • MYOB Application Delivery
  • MYOB Private Cloud and Data Centers

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: Us

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