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MYOB has announced the firm has hit some significant milestones in regular paying clientele and cloud subscriber numbers.
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MYOB hits client milestones
28 January 2015
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8 minute read
The software provider said there are now more than 1.2 million businesses actively using MYOB SME solutions, with more than 500,000 regular paying clients. This record figure was achieved in December last year, the firm said.
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MYOB has also reached a record figure for cloud subscribers, with 116,000 of the 500,000 regular paying clients in this class.
In the latest quarter, ending 31 December, more than two thirds (67 per cent) of new MYOB SME product registrations were cloud subscriptions, well up from the 61 per cent for the quarter ending 30 June 2014 and 48 per cent for the comparable quarter in 2013.
James Scollay, MYOB’s general manager for SME solutions, said achieving 500,000 regular paying clients is an exciting milestone, reflecting the incredible pace at which the market is adopting the firm's cloud offerings.
“We recognise that small and medium [sized] businesses have different and specific needs and have invested significantly in R&D, with over $40 million invested in 2014 alone, to develop a range of leading-edge cloud solutions," he said.
“Our cloud solutions suite provides SMEs in Australia and New Zealand with a wide range of available solutions, so we’re able to meet their needs at any stage of their businesses growth cycle.”
Mr Scollay said he expects the growth that MYOB is currently experiencing to continue as the company works hard on developing its offering.
“With our suite of exciting products that make business life easier for micro, small and medium-sized enterprises, and significant investment in R&D, we are positioned well for continued growth moving forward," he said.
“The uptake of our cloud solutions is driving growth of our total, paying and online users, whilst solidifying MYOB as the leading accounting solutions provider in Australia and New Zealand.”
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