It’s goodbye to MYOB’s AccountRight Classic: what does it mean for you?

Cloud-first is the new ‘normal’. While there are still reasons for on-premise solutions, the benefits of cloud computing mean there’s less demand for desktop applications. Which means over time some software will be retired or vendors will stop providing support and updates.

In just such a case, MYOB recently announced it will end support for its desktop product – AccountRight Classic platform (also known as V19), as of 30 September 2019. This article will explore why MYOB is ending support, why the future is cloud-based, and what it all means for your business.

Desktop doesn’t match the way we do business

As MYOB’s Head of Product Dale Dixon explained when the announcement was made, “When we developed this product, business was done very differently to now.”

“The books had to be worked on in the office, data entry was done by hand, and getting that information from your business to the bookkeeper or accountant required multiple drives, file versions and probably a booked face-to-face meeting. We no longer work that way today,” Dixon said.

AccountRight Classic was created decades ago when we operated in a dramatically different business environment. You can see why, in the long-term, it may not have made sense for MYOB to continue to support it, or add features, fix bugs or update compliance.

The present—and future—is in the cloud, or multiple clouds as the case may be. Writing for Forbes, successful entrepreneur John Greathouse argues that the subscription, cloud-based model is so ubiquitous, it is the default. “It’s high time we kill the term Software As A Service (SaaS) and call it what it is – software,” Greathouse said.

Indeed, a report from IDG Research this year revealed that nine out of ten companies will have some part of their applications or infrastructure in the cloud by 2019. The top objectives that businesses nominated as driving their decision to move to the cloud were: improved IT service delivery speed; greater flexibility; enabling business continuity, and improving customer support and services.

Seizing the opportunity to move online

If we look at MYOB’s move to end support for AccountRight V19, we can see how these same objectives have shaped their decision. For instance:

• When MYOB surveyed more than 1000 SMEs in 2013 about the benefits of cloud technology the top responses were reduced IT costs, access to more technology and a greater ability to embrace remote work, and increased productivity and being able to stay up-to-date.
• MYOB’s clients report spending up to 10 hours less on their accounting using online bank feeds and were able to reduce payment days by an average of 33 days by using online invoicing.

The reason MYOB exists is to make business life easier, so operators like you can be more productive. So it makes sense that when the technology is moving so rapidly in the direction of cloud-based systems, they would choose to focus their energy there.

The question is, are you putting enough of your focus on digital transformation?

Change can be painful, but it can also be the impetus you need to modernise and adopt a more scalable, agile solution that will help you work smarter.

What do you need to do right now?

The priority now is to evaluate your business and software needs. Transitioning from AccountRight Classic to another solution will require data migration and will change the range of features you can access.

Depending on the features you use now—or may need for future growth—the solution you need to replace AccountRight Classic will vary. For instance, if you’re in a phase of growth or have a goal to expand your business across multiple cities, sites or even countries, your finance management needs will become more complex and it could pay to look at cloud-based software with richer features.

Rest assured, MYOB has a number of step-up or step-down solutions to choose from and will support you to transition, so you won’t be left with no options. But it’s advisable to decide well before the September 2019 deadline, to avoid working with out-of-date systems.

Don’t get left behind

If your business will be affected by the end of support for AccountRight Classic V19, now is the time to begin thinking more broadly about your company’s financial management software needs.

Maybe it’s a chance to consolidate multiple systems, upgrade to more robust cloud-based accounting or ERP software that not only meets your current multi-currency, multi-site finance needs, but also prepares you for expanding your operations as you enter 2019, and beyond.  

If you’re ready to explore cloud technology in your mid-market business, talk to us today. We have the technical expertise and industry insight to help you determine the best path forward and support your transformation. Contact us today.