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MYOB has announced a minority investment position in US-based Acumatica, provider of cloud-based enterprise resource planning (ERP) and financial software.
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MYOB buys into ERP provider
28 October 2014
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The announcement follows a recent multimillion-dollar agreement that allows MYOB to develop a localised cloud-based ERP solution.
Andrew Birch, MYOB general manager – enterprise division said the investment was a natural progression following a successful partnership between the companies over the last year.
“Before partnering with Acumatica, we reviewed technology platforms around the world for the ideal solution that would enable us to extend our successful mid-market business into the online space.”
“After working with the company and the platform for over a year, we have been impressed with the sophistication and functionality of the product,” Mr Birch said.
MYOB said it is confident that mid-sized clients across Australia and New Zealand will embrace the opportunities a cloud-based ERP solution can offer, according to Mr Birch, with the company planning to introduce the product in Q1 2015.
“This new platform provides a complementary state of the art cloud-based solution alongside our existing, extremely successful on-premise MYOB EXO range, giving clients the choice of the ERP solution that’s right for their needs. The cloud solution will also complement our successful family of cloud solutions for SMEs, including MYOB Essentials and MYOB AccountRight,” he added.
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Mr Birch says playing a role in the governance of Acumatica will enable the business to remain closely involved in the ongoing development of the platform.
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