MYOB Advanced Enterprise Edition Review: A Closer Look

Any large business with an intricate structure and dynamic needs demands features and automation above and beyond what a standard ERP solution provides. Company executives need enterprise-wide visibility into data, and they require timely business intelligence to make informed choices.

This is where MYOB Advanced Business Enterprise comes in! Here is a review of the Enterprise plan in MYOB Advanced.

Powerful Accounting

The enterprise edition comes with superior accounting and finance capabilities, simplifying financial and cash management workflows and reporting. It provides full visibility into account receivables, accounts payable, and all other transactions. Profit and loss and balance sheet reporting as well as cash flow forecasting let you plan and track business performance in real time.

The accounting component of the software makes it easy to manage multiple company branches from a central location. The integrated system harmonizes financial reporting, the complexity of your organization’s structure notwithstanding.

Advanced Inventory Control

Serial or batch tracking enables you to monitor stock levels in transit as well as across warehouses in multiple locations, paving the way for timely, automated inventory replenishment. The system lets you analyze sales trends, deliveries, and lead time, which can inform forecast-based restocking. With tMYOB Advanced Enterprise, you can build an accurate picture of historical demand patterns, helping to replenish accordingly and satisfy customer expectations while optimising stock levels.

In-depth supply chain analytics help minimize or eliminate overstocking, understocking, and dead stock, all of which impact the bottom line. You may optimize your pricing strategy to boost profits by taking into account real-time landed costs, including exchange rate fluctuations, import duties, and shipping fees.

With multicurrency support, you can track current foreign exchange rates and apply them in price quotation to overseas customers. Also, the system automates foreign currency conversion for financial reporting purposes.

Automated Allocation Scheduling

Thanks to automated allocation processing, you can assign amounts over several account ledger combinations. The system charges revenue or overheads to the right object (for example, the sales department) in accounting every time. You may set allocation rules on specific main accounts.

Statistical Ledger

Statistical accounts let you account for non-monetary data, such as square footage or personnel headcount per department in your organization. The numeric information can help with the correct distribution of total expenditure or cost in a general ledger account within a specific timeframe across multiple departments.

Project Accounting

It’s possible to manage production or assembly projects efficiently with this ERP solution. As such, you can monitor timelines, resources, and deliverables every step of the way, from planning and budget to completion. Additionally, the solution allows you to break down tasks, analyze costs, and track the attainment of specific project goals.

Excellent Customer Relationship Management

The CRM component of the MYOB enterprise solution makes light work of tracking the customer journey, from prospecting to the ultimate conversion. It lets you capture, record, and study potential and current customer preferences to personalize engagements, be it through contact centre support, email campaigns, or web content marketing.

The solution facilitates the compilation and management of customer case files. Support agents can refer to AI knowledge bases while addressing pain points for customers in real time during engagement via social media, phone contact, online chat, or other digital channels.

Take advantage of the advanced CRM features to optimize revenue collection and keep healthy cash flows. With these capabilities, you can create overdue charge invoices automatically, track and take partial customer payments, and recover debts faster than ever before.

With this system, customers can have a self-service portal for placing orders conveniently. Buyers can also retrieve invoices and statements via the platform.

Automation and Interface Customization

Automating repetitive everyday tasks helps save time, and it eliminates data entry errors. With the most advanced MYOB edition, you can create and customize multi-level approval processes for quotes, claims, or budget estimates based on the structure of your business.

The superior business management software has intuitive and customizable interfaces. You can customize screens based on features like command buttons, label text, and text boxes. Custom tweaks help simplify interfaces such that users only see or interact with necessary system elements based on their responsibilities as well as authentication credentials and access rights.

MYOB Advanced Business Enterprise edition has the features your organization needs to manage large-scale, complex operations efficiently. At Leverage Technologies, we have extensive experience with the robust accounting, CRM, and inventory control features of this ERP. To request a demo, contact us right away!