MYOB has been around for a lot longer and in terms of its core accounting ability and functionality I think is more advanced. It also has more powerful reporting capabilities which can be necessary for larger companies.
That being said - it has so many different versions out there, it gets bloody confusing. Even as an accountant. It would be difficult for a small business owner to even navigate there way through all these versions of their software. When it comes to the cloud, they are behind the game and playing catch up. The initial product they released wasn't even fully cloud based and still required software to be installed on a computer somewhere. It was so slow and difficult to use. Whilst, lacking the real benefits you get from having a system on the cloud. This is an example of how they are not on the same path as Xero.
Now they do have a fully cloud operated product. But, from what I understand its integration ability is not a sophisticated as Xero. Hence why Xero has more partners and add ons - which as I say, is where the future is.
Xero is definitely being pushed as a the product to use for small business from the big firms.
XRO Price at posting:
$13.92 Sentiment: Hold Disclosure: Held
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