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Most Popular Australian Business Management (ERP) Software Packages Compared Side by Side

MYOB EXO vs Triumph Business Management Suite vs Pronto Xi vs Greentree4

Last month we compared the leading Australian Accounting Software for medium-sized businesses.

This month we’re broadening our comparison to look at the top Australian Business Management Software Packages (ERP Software).

Again, the below is just a simple overview of some key features. To really decide the right software package for your business you’ll likely need to do some further research and request a demo for your team to trial. However, the below side by side comparison is a good place to start!

 

 Provider

 

MYOB Triumph Pronto Greentree
Product

 

EXO Business Management
Suite
Xi Greentree4
Indicative Cost (per user per month)

 

$100-$145 $145-250 $150-200 $150-200
Suitable for business size

 

A$1m-A$250m+ Annual Turnover Unavailable during our research A$20-A$250m Annual Turnover A$5m-$250m+ Annual Turnover
Multiple users permitted?

 

Yes Yes Yes Yes
Multiple
Companies Supported in Single Account?

 

Yes Yes Yes Yes
Multiple Currency Support?

 

Yes Yes Yes Yes
Cloud option available?

 

No No No No
Onsite option available?

 

Yes Yes Yes Yes
Smartphone App Available?

 

Yes No No No
                                                                                       FEATURES

 

Financial Management General Ledger

Accounts Payable & receivable

Profit & Loss

Balance sheet

Cost centre/profit centre

Procurement (requisitions, PO)

Project accounting

Inventory accounting

Services accounting (jobs, timesheet, billing)

Bank reconsiliation

Bank
feeds

 

General Ledger

Accounts Payable & receivable

Profit & Loss

Balance sheet

Cost centre/profit centre

Procurement (requisitions, PO)

Project accounting

Inventory accounting

Services accounting (jobs, timesheet, billing)

Bank reconsiliation

 

General Ledger

Accounts Payable & receivable

Profit & Loss

Balance sheet

Cost centre/profit centre

Procurement (requisitions, PO)

Project accounting

Inventory accounting

Services accounting (jobs, timesheet, billing)

 

General Ledger

Accounts Payable & receivable

Profit & Loss

Balance sheet

Cost centre/profit centre

Procurement (requisitions, PO)

Project accounting

Inventory accounting

Services accounting (jobs, timesheet, billing)

Electronic Document processing with OCR capabilities and approval routing

 

HR & Payroll Human Resource Management

Payroll

Time & Attendance

Timesheets

Timeclock

PC Timeclock for remote staff

Employee info

 

Time clock

 

Payroll

Timesheets

Employee information

Leave requests

Human Resource Management

Payroll

Health & Safety

Leave planning

Recruitment

Employee development

Job Costing Job planning and scheduling

Flexible estimating – multiple billing methods (time and materials, as quoted, milestone or claim schedules)

Master and sub-job structures for more accurate control over large jobs or projects

Customisable alerts to monitor progress

Customisable quote forms

Job planning and scheduling

Base costing on actual cost or charge rate

Master and sub-job structures

Record Work-In-Progress (WIP) at job or transaction level

Create budgets

Job planning and scheduling

Flexible invoicing or via Claim Schedule

Multiple cost centres and budgets per project

Project Tasks and milestones

Export Project Tasks to MS Project 2013

Master and sub-job structures

Job planning and scheduling

Timesheets

Flexible estimating

Budget vs actual

Master and sub-job structures

Multiple customer invoicing for single jobs

Export Project Tasks to MS Project 2013

Customisable alerts to monitor progress

 

CRM & Sales Customer activity/notes

Single customer view (orders,

sales, credit)

Marketing Campaign Management – tracks costs & ROI

Social media integration

Mobile sales (browser/tablet order/re-order)

Real-time stock & finance integration

 

No CRM Customer activity/notes

Single customer view (orders,

sales, credit)

Campaigns

Mobile sales (browser/tablet order/re-order)

Marketing automation

 

Customer activity/notes

Single customer view (orders,

sales, credit)

Campaigns

Mobile sales (browser/tablet order/re-order)

Marketing automation

 

Point of Sale

 

Yes No Yes Yes
Built in
eCommerce
Third party integration available

 

No Yes Yes
Inventory/ Warehouse Available to order

POS/ e-commerce integration

Available to pick

Scan pick/ pack/ dispatch control

Quality control

 

Available to order

Available to pick

On-order /reserved /backordered

Available to order

POS/e-commerce integration

Available to pick

Scan pick/ pack/ dispatch control

Quality control

Available to order

POS/e-commerce integration

Available to pick

Scan pick/ pack/ dispatch control

Quality control

Integration and support of third party add-ons

 

Yes – Open API No Yes – Open API Yes – Open API

Which business management software is best?

While the above table gives a snapshot of the availability of some key features, it doesn’t give an in-depth look at the full functionality level in each of these areas, and importantly, how that matches up to your business’ needs.

It must be said, however, that MYOB EXO is often seen as the strongest contender in the game. MYOB is a long established world leader in the ERP market and it is the largest selling mid-sized ERP in Australia & NZ – they’re not a new or start-up business so you can rely on their longevity and stability as a provider for your business.

MYOB also has a strong network of trusted, authorised, local partners and third party MYOB developers (like us here at Horizon Business Systems!) who can offer local support and training and help you design custom add-ons specific to your business needs.

If you’d like to find out more about how MYOB EXO can help your business, don’t hesitate to get in touch with us today!

Annual Leave

How to Prevent Annual Leave Accrual from Crippling Your Business

Annual Leave

Image credit

With the end of the financial year fast approaching on June 30, this is the perfect time to review your staff’s annual leave accrual and take positive steps towards preventing difficult a financial situation for your business arising as a result of staff’s annual leave building up, as allowing staff to accumulate too much leave could end up crippling your business.

It is important to consider the impact it could have on your small to medium-sized business, and be aware of the law regarding employees’ rights to carry accrued leave over into the following year.

Problems associated with accrued annual leave

If you are a small to medium-sized business, then you are likely to be running on tight profit margins and managing cash flow can be an issue. If one or more staff members leaves or resigns and you end up owing them for unused leave hours, it could be a huge obstacle. Also, consider the problems that could arise if you find that staff are owed leave at the end of the working year and more than one employee wants to book time off at the same time, or at an inconvenient time for you.

Delays, a poor impression of your processes, or departments not working effectively could leave your customers with a negative impression of your business – and financial hardship for you. In addition, staff might ask to carry leave over to the following year, creating problems at a later date.

The law regarding accrued annual leave

Employees can carry over accrued annual leave to the next year, but by law, there are two situations in which you can direct an employee to take annual leave. According to the Fair Work Ombudsman, an employer can direct an employee to take annual leave if the business is closing for holidays (over Christmas or Easter for example), or if an employee has accumulated excess annual leave. What constitutes ”excessive” differs between industries; more information is available on the Australian Government’s website, and it’s extremely important to know your rights as an employer in your industry so you can enforce leave on staff members with excessive accrual.

How can you stay on top of it?

Larger companies have HR departments to keep on top of annual leave, but without that resource how do you keep on top of the leave hours of all of your staff members and still push forward with your business? It’s not easy! But good accounting and business management software can really help you out.

An EPR platform, like MYOB EXO, is the simplest way to keep on top of it. Most ERPs come with a core finance / accounting software, and can be integrated with a payroll module, which will not only allow you to keep track of accrued and taken leave for each staff member, you can also get a snapshot of how your financial situation would look should you have to pay out a lump sum for accrued leave if a team member were to hand in their notice.

Payroll tracks the amount of leave that has accrued and shows the monetary equivalent of the days that are owed to individuals. Add-ons can calculate leave entitlement, manage requests and approvals, and monitor and show accruals and deductions of leave hours. The software can effectively manage the full life cycle of an individual’s leave, whilst ensuring compliance with employment laws and regulations.

Once you know what leave is owed, you can think about how you will finance this in the event the leave must be paid out. This is a good topic to discuss with your accountant when you do year-end tax planning.

EOFY Tips

EOFY: 5 Tips to Ensure You’re Prepared for Tax Time

We’re nearing the end of the financial year with 30 June right around the corner, which translates to stressful times for Australian businesses. Don’t fret, you can make the process slightly less stressful for your organisation by following these simple tips.

1. Get Documents in Order

Because of the high volume of documents required to lodge your business taxes, it is crucial that you get everything in order before you begin. Taking some extra time at the start to get organised can save you delays and headaches further down the track.

Be sure that you have statements dealing with your pay-as-you-go (PAYG) withholdingsgoods and service taxes, and any documentation of deductions you are claiming so that you can prepare your Business Activity Statement (BAS) to formally lodge your taxes. Getting this done early means you will not have to scramble at the last minute to put everything together.

Keep in mind that the ATO has changed the way in which they accept payment summaries in 2016. Allow plenty of time to convert documents to the proper format so you can comply with the new requirements. The ATO has provided a guide to help explain the changes to make it easier for businesses to comply.

2. Consult with Your Accountant

Your business accountant can help you navigate your financial data to find the information you need to lodge your taxes. Be sure to have your accountant go over the books in detail to ensure that there are no errors in your financial reporting. Have them remedy any mistakes as quickly as possible so that you can move forward with lodging your taxes.

Using good business accounting software (like MYOB Finance) can streamline this process, giving you easy access to detailed account statements, financial summaries, and trend analysis. The Exo Accountant’s Assistant module is also indispensable at tax time – you can follow pre-defined checklists for tax return processing, see the financial health of the business from a high level and easily identify any areas that are incomplete or need review.

Ask your accountant to review your account balances to determine if you can qualify for any tax deductions, as explained in the sections to follow.

3. Spend Money to Save Money

If your accountant confirms that you have funds available in your business accounts, spending some money on your business now can save you in tax liability later. Paying your employees’ superannuation before tax day can result in a large deduction for your business. Be sure to make your payments well in advance to allow for processing time. Your business can also take a deduction for paying your bills in advance, like rent, utilities and subscription services. Keep in mind, though, that you may not be able to claim the deduction if the expense covers more than 12 months.

4. Take Care of Your Debts

The ATO also offers deductions regarding debts your business is owed. If you and your accountant have determined that a debt is unlikely to be repaid, you should write it off as a bad debt. Your accountant can help you determine which accounts are deductible for the current tax year. If you or any of your colleagues have taken personal loans from the business, try to pay them back before the end of the tax year to avoid a large increase in personal income taxes. At the very least, submit a minimum payment incorporating interest for the business. MYOB accounting software can aid your business in keeping track of debts paid and debts payable.

5. Evaluate Your Inventory and Assets

Go through your inventory and determine if any of it is expired or obsolete, as you can write these off on your taxes. Also, if the current value of your inventory is lower than what you had at the beginning of the year, you can deduct this as a business loss. If your business needs to increase inventory or purchase new tools or equipment, presuming it fits in the budget, a portion of these expenses may be able to be deducted. The regulations on this change frequently, so be sure to consult with your accountant or check the ATO’s website before making any large purchases. The EXO Fixed Assets Module allows you to keep track of asset value and depreciation.

It is never too early to start planning for next year, and investing in good accounting and business management software will keep you on track for next year Get in touch with us today to learn more about our software solutions and how we can help your business breeze through tax time! You can also check out our MYOB EXO EOFY webinar below for some more great tips.

Tax time ATO change

ATO has changed the way payment summaries can be submitted

Tax time ATO change

With tax time coming up in a few short months it’s important to be aware of how the Australian Taxation Office has changed the way payment summaries can be submitted since last EOFY.

As of 31 December 2015, the ATO changed the process for businesses to submit their payment summary information. Although the change took place several months ago, the ATO reports that over 20,000 businesses are still submitting their summaries incorrectly. It is important that businesses both small and large understand the new changes to the system so that they can adopt the new methods for seamless document transfers.

Out with the Old…

In the past, the ATO has accepted payment summary submissions via CD, DVD, and flash drive (USB key). However, these methods present a host of security risks for your business should the data fall into the wrong hands. The ATO’s new measures and requirements help to combat this risk by providing taxpayers with a more secure method to submit their documents. In addition to the above listed hard copy formats, the ATO is also no longer accepting submissions from Word or Excel documents, PDF files, or scanned image files.

…And in with the New

In the wake of reports of financial data hacks occurring around the world, individuals and businesses alike are becoming increasingly concerned with their data security. The new measures put in place by the ATO are designed to make the process of lodging your documents easier and vastly more secure than this process was previously.

Payment summaries must now be submitted through the ATO’s online portal and must be in the EMPDUPE file format. This file can be created using your MYOB accounting software and you can find step-by-step guide to creating the EMPDUPE file using MYOB here.

For more information about the details of this new method, the ATO has provided an extensive FAQ about the process to help simplify the transition for small business owners, or for questions about how to create the EMPDUPE file using MYOB you can get in touch with our MYOB support team.

Q&A with Horizon CEO Michael Pendred

This month on the blog we sat down for a Q&A with our CEO Michael Pendred to find out more about the history of Horizon Business Systems; get an insight into Michael’s vision for helping other businesses achieve, and how Horizon is doing so.

Michael PendredManaging Director


Michael Pendred
Managing Director

What prompted your to set up Horizon Business Systems?

I’m interested in how things work, how things are built, new ideas and hearing about the very cool things that our clients do.  I think that I’d be bored if all I dealt with was my own business, so having Horizon allows me to step into lots of different businesses and see how they work.  I find the complexities in how companies manage their jobbing or other business/management processes intriguing and I’m always looking for better ways of doing things – I know that I should get out more!

I also wanted a business where we really felt like a team.  I’m lucky enough that the crew that Jon and I have brought together at Horizon are people that we really like and we enjoy working with them.  All the personalities are different, all of their skills and the experiences that they bring to us are amazing, and they all believe in our vision of ‘helping businesses achieve’. I’ve always felt that it’s an insular view to just want your own business to be successful – if you aren’t contributing to the business community, the local economy and to the success of other businesses, you can’t stay successful for long.

What is your background?

I have a degree in Financial Management and Economics but have had the opportunity to work across different industries with sales and management roles in the Financial, Hospitality, Tourism, Health and IT industries across the world over the past 25 years.

What is the most common issue or pain point that customers have when they come to Horizon?

A lot of the time our clients have experienced growth and added on to the systems that they were using when they first started up – e.g. piggy-backing disparate systems, double handling of tasks etc. – so they are really looking to simplify things for themselves.

It seems really straightforward, but having a system like MYOB EXO makes life easier for everyone from the Receptionist to the CEO.  This can include no longer having things (like customers or orders!) ‘slip through the cracks’, tasks can be completed more accurately and efficiently, and provide employees and management an overall view to manage all the critical processes in their business and ultimately make better decisions going forward.

How do you help them better than competitors can?

I believe that one of our team’s most important skills is that we don’t walk into a business with the idea that we already KNOW how they work.  We want our clients to tell us what works for them and what they need – then we go out of our way to value add to this.

Each client that we work with, even those that provide similar services or products, do certain things uniquely.  Of course we want them to be compliant – just to limit that particular pain! – but we also understand that the companies that are our clients have built themselves from small businesses into successful companies, so they’ve done a lot of things right to get themselves to this point.   These are businesses that just need our input to streamline things and help them get to the next level.

Every client relationship that we build also adds to our own skill set as we learn something new from each business. A lot of consultancy businesses out there will go into companies with the view that they will just replicate what they did last week at another business, rather than take the time to understand and respect the way that you do business.  We genuinely feel invested in each of our clients – most likely because we are a local business too.

What has been the most interesting or unusual request you’ve had for custom add-on development?

I try to think of myself as a person who has not led a sheltered life but I may have blushed (or asked for clarification!) once or twice when we were building customised reporting dashboards for Adult Shop!

What is the most rewarding part of your job?

In the short term, it’s seeing the change in companies once we are able to help them make once painful processes in businesses pleasant.

In the longer term, several of our clients were just taking the leap from a small to mid-sized business a decade ago when Horizon began and we have enjoyed seeing them grow and become even more successful. One of my pastimes is ‘client spotting’; where I’m driving somewhere with my family and I point at a business, sign or company badged car and go ‘there’s one of our clients!’ – it used to be a rare spot but, after a decade in Western Australia, it’s a lot more common now.

What has been Horizon’s greatest achievement in your eyes?

We have won MYOB’s Partner of the Year a few times but I truly think that last year’s MYOB Excellence in Customer Satisfaction (Australia) award was the most satisfying.  It’s a real team effort and is the best measure of our client focus and success.

What new trends or developments are emerging or do you predict will emerge in the next few years?

The development teams behind MYOB EXO and MYOB Advanced are amazing.  We are fortunate that MYOB is an established product provider than can and does prioritise continual development for its ERP business management software offerings.  Because MYOB’s EXO and MYOB Advanced ERP products are geared towards mid-sized businesses, rather than monolithic business entities/large scale government bodies (where processes are carved in stone and changes don’t occur at speed or with any regularity), MYOB and its products are open to, and usually leading, ERP development.

As Platinum Partners with MYOB, the team at Horizon are ‘at the coal face’ in our day to day dealings with the companies that use the products, so we make it a priority to have an open and continual dialogue with MYOB about our clients’ needs and projected requirements for the future.

Cloud solutions have been emerging over the last few years and these will gain a larger market footprint as time goes on.  Mobile add-ons in time capture, service management and reporting will become the norm.  Also, the tools and customisation that once only the big businesses could afford, are filtering down to being more manageable, mobile and cost effective adaptations for mid-sized businesses.