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MYOB is an Australian company that develops tax, accounting, and other software for a variety of businesses. It provides tools for making interactive dashboards and reports, monitoring the company’s progress, and managing its finances (“What is MYOB,” n.d.). MYOB products contribute to all kinds of business management decision making: operational, financial, strategic, and tactical, allowing companies to make informed choices and address their specific business needs.
First of all, MYOB solutions contribute to financial decision making, helping businesses to save time and money. MYOB offers cloud accounting services that allow accountants and bookkeepers to remotely access and share the company’s financial records (“What is MYOB,” n.d.). The Business Intelligence (BI) tools are used to create fully automated flexible reports presented in a simple format, which facilitates faster and easier decision-making (“Faster decision making is easy,” 2017). With easy access to clearly structured information, companies make more informed and careful financial decisions.
Another helpful product developed by MYOB is reporting dashboards that are used for making all kinds of business decisions. They display different types of data related to job functions, roles, and responsibilities and help to structure and analyze the company’s financial, organizational, and operational information (“Business management reporting, n.d.). With the help of dashboards, businesses can assess the profitability of each department and the performance of each member of the staff, which helps them to manage operations and human resources.
Decision making in business management significantly depends on the management and access to information. MYOB tools provide such access, allowing companies to analyze all kinds of data and constantly monitor their progress. Furthermore, all MYOB products can be personalized to address each business’s specific needs. Overall, these solutions help companies achieve significant improvements in customer support, sales, operations, cost management, human resources, and product development decision making.
References
Business management reporting. (n.d.). MYOB. Web.
Faster decision making is easy, you just need better data.(2017). MYOB. Web.
What is MYOB? (n.d.). Bottom Line Control. Web.
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