Review of MYOB EXO Business

February, 2015

Rating: 4/5

MYOB is an accounting software and ePayment solution for smaller businesses. It is designed to automatically update and backup your company’s financial portfolio. MYOB manages your invoicing, expenses, GST, cash flow and inventory all in one place and produces reports and graphs to measure the success of revenue streams and sales targeting.

Some of MYOB’s key features include:

EXO CRM is an integrated contact management solution offering complete visibility over the end to end sales workflow across the entire business in a customizable workspace. EXO CRM includes:

  • Access to real-time, accurate customer information including stock levels and pricing arrangements whenever you need it.
  • Simple management of contacts including prospects and customers.
  • MyDay tool is a customizable space that allows you to view all your activities including tasks, opportunities, pipeline, orders and sales performance.
  • Fully customizable tracking of sales performance.
  • Ability to set realistic and accurate sales budgets using historical sales data.

EXO Job Costing helps you manage the profitability of your jobs and projects in real time by providing direct visibility of all your input, process and time costs, including:

  • Consulting hours
  • Equipment hours
  • Inventory
  • Labor hours
  • Materials
  • Subcontractors

EXO Fixed Assets provides all the tools you need to:

  • Depreciate by book and tax value for up to seven years
  • Group by hierarchy and / or type
  • Locate assets, track them and allocate staff to manage or maintain them
  • Recognize purchase and disposal of assets
  • Report by depreciation, groups, maintenance, revaluation and more
  • Set and manage maintenance schedules

EXO Point of Sale allows you to run your entire business, from end-to-end, on the same integrated system, with complete transactional visibility. MYOB EXO stock control capabilities translate to automatic updating of stock levels as sales are transacted, support of multiple warehouse sites, access to customer orders, delivery times and much more.

Combine all of this with MYOB EXO POS easy-to-use retail interface, along with barcode reader capabilities, cash drawer, docket printer, EFTPOS, touch screen and other retail POS hardware integration and you can have a powerful retail business solution.

EXO Intercompany offers any business a wide variety of solutions, regardless of size. While efficient for tax and other purposes, it can often make for additional accounting and, in some cases, even the need to involve external assistance from a business’s accountant and/or auditor.

MYOB EXO Intercompany Module enables a business to consolidate its various entities into a single entity for the purpose of reporting. The consolidation process can happen as frequently as necessary to perform group based reporting. The group company is treated as an entity in its own right and as such all the General Ledger transactions and reporting functions are available.

Ease of use

MYOB provides live accounts, accounting, payroll, retail point of sale, CRM, job management, professional tax solutions, websites and more. MYOB’s online accounting solution is always up-to-date so you can clearly see how your business is going at any time. You can see:

  • Business bank account balances
  • Accounts receivable
  • Business expenses
  • An estimate of the GST you currently owe

Either with the desktop software for the cloud-based solutions, MYOB offers some pretty impressive financial management solutions.

Customer Service

The customer service for MYOB was pretty impressive. They offer online support, video tutorials, Live Chat support and an impressive 90 day money back guarantee.

My questions were answered quickly and efficiently, best of all I could understand what I was being told and the guidance I was given. This last part means a lot to me whenever I’m dealing with a company, I want to have things presented to me in an easy to understand manner and this is one of the things I always base my customer service review on. MYOB passed my test.

Add-Ons and Integration

MYOB offers several add-ons to enhance the application and provide you with a complete business solution that grows with you and allows you to only add what you need and not clutter your life with the things you don’t need. Here are some of the popular add-ons available:

Selling Online

  • Bigcommerce
  • Straightsell
  • Shopify

Hospitality

  • Drone
  • Tanda
  • Cooking the Books

Invoices and Expenses

  • TransPost Express
  • Invitbox
  • Shoeboxed

Debtor Management

  • ezyCollect
  • Debtor Daddy
  • SMS My Debtors

Problems and Complaints

Every application has its problems and complaints, and MYOB is no different. However, for the most part I really couldn’t find anything that really bothered me about the application. It seemed to do everything I needed it to and in an efficient and easy to understand way.

A couple of the complaints I had with MYOB was that the reporting is pretty basic. There is almost no support for cash flow forecasting. MYOB is focused on smaller businesses, so there is very little support if you have a larger business. However, this isn’t a problem if you don’t expect the application to do something it wasn’t intended to.

In Conclusion

MYOB has a lot to offer any business. The application offers several options and add-ons that will allow you to streamline and customize it to fit your needs without cluttering your workspace with a lot of things you don’t need. This means a lot to me, as I’m sure it does for others, because I hate having a bunch of applications I don’t need and will never use just confusing everything.

If you keep in mind that MYOB is best for a smaller company and don’t try to use it for a larger one, you won’t have a problem. MYOB, for the most part, will achieve what it was designed for. The reporting could be a lot better, however, if you just use a different app for your reporting, you ought to be in great shape with this helpful accounting suite.

The Sales Pitch

ERP systems for growing and mid-sized businesses

MYOB EXO Business is a fully integrated ERP management system consisting of modules supporting Accounting, Customer relationship management (CRM), Inventory Management, Job Costing, Point of Sale Fixed Assets, Analytics and Reporting.

By providing a unified view of the internal and external factors affecting your business, EXO Business gives you direct access to the ‘big picture’ information you need to make critical business decisions.

And by allowing a deeper view of your individual line processes, EXO Business gives you a clear understanding of what’s driving your business, with the ability to drill down to the details behind every transaction.

EXO Business will give you a true business management view of your entire operation.

Features

EXO Finance, EXO CRM, Job and Project Costing, Serviceable Unit Management, Asset Management , Retail POS Shopfront, Intercompany Reporting, Managing and Paying Staff, M-Powered Services, EXO Accountant’s Assistant, EXO Business Analytics

Customers
1,000,000 business owners

Automotive Engine Reconditioners, Fiordland Lobster Company, Offroad Trucks Australia, Chapman Grove Wines

Tech Information
Service Name
EXO Business
Parent Company
MYOB
No. of Staff maintaining this service (estimated)
Medium (100-499 people)
Compliance
PCI-DSS
Support
Telephone, Online, Email, Community
Mobile Devices
Yes, Android App, iPhone App, iPad App
Head Office
Australia
Learn More

Are you interested in MYOB EXO Business or related products? COMPARE PRICING

Alternatives
See also: ERP Software , PSA