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The tech company has announced the launch of its new app, Solo by MYOB, tailored for SME accountants.
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MYOB launches new app to support sole operators
04 December 2024
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MYOB has developed an all-in-one app focused on the accounting industry, tailored exclusively for sole operators.
The software provider said Solo by MYOB was the result of a multi-year investment to produce a bespoke solution for sole operators.
The app allows users to access software which would help anticipate and manage vital business management risks and would also feature invoicing, expense tracking and ATO-ready record keeping.
MYOB CEO Paul Robson said running a business solo should not mean business owners need to go it alone.
“For more than three decades, we’ve invested deeply in SMEs and mid-market businesses, and their accountants and bookkeepers, to help manage the complexities that come with a growing established business,” he said.
“In that time, we’ve seen an extraordinary transformation within the SME sector. Currently, 61 per cent of Australian SMEs are classified as a non-employing business, but this community is expanding at a rapid rate.”
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According to MYOB, the app offers invoicing, expense management and tap to pay for on-the-go payments, as well as features to speed up expense capture, including ‘snap and scan’ optical character recognition and a generative AI digital assistant support for real-time troubleshooting.
Sole operators and users of the app would also be integrated into an online community of like-minded businesses via the app, where practical tips and feedback would be shared.
The app would feature the added benefit of establishing a digital foundation, avoiding the shoeboxes and Excel spreadsheets and would allow sole operators to prioritise pursuing their passions, MYOB noted.
Robson said Solo by MYOB was developed to make the critical audience of sole operators feel more connected and supported.
“We are committed to our purpose of helping Australian businesses start, survive and succeed and this new app will provide sole operators with a flying start to their future as Australia’s next-generation business owners.”
“Despite the clear productivity and performance advantages of digitisation, more than half a million sole operators in Australia do not use digital business admin tools, a challenge that becomes much harder to overcome as a business grows and evolves.”
Robson added the new app could help sole operators save an average of 17 hours per month, based on early productivity results.
“We are very proud to be able to apply MYOB’s expertise in business management solutions to helping sole operators feel less alone, more connected and better supported as they work towards their business goals.”
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