For many small businesses, MYOB or Mind Your Own Business software seems like a very viable option. After all, it is a full-service tax, accounting, and business software that offers a range of cloud based solutions.
However, as your business grows, you may begin to think about whether MYOB is still the right choice to handle business as it emerges into the next level of growth.
This is not just a situation with only a few companies, but is a situation that is faced by nearly 700,000 companies in South Asia alone who are currently using MYOB. It’s awesome for your business to grow, but challenging when you don’t have the tools to handle that growth.
So, how do you know that your business has reached a limitation point in using MYOB. These 5 signs might help you:
#1 Your business needs real time data, now. However, MYOB is designed to help you provide that data at the end of the month.
#2 If you are spending a lot of time on reconciling and re-entering data into the system, it is a clear indication that your business has outgrown the traditional data entering model.
#3 Since you don’t get real time information, it becomes difficult to achieve desired sales goals.
#4 When you start doing all the accounting work outside the software, its an indication that you have reached the limits of MYOB.
#5 If you begin thinking about the technology and it diverts your attention from the business, you know that you are looking for something that is beyond MYOB.
If you want to get a detailed understanding of these signs and how to overcome the challenges of limiting software, click the link below for more information.