Kirkland, WA, August 19, 2013 — Acumatica, the world’s fastest-growing provider of cloud-based enterprise resource planning (ERP) and financial software, and MYOB, the largest business management software provider in Australasia, today announced a multi-million deal.
The deal enables MYOB to localize and distribute Acumatica’s ERP solution platform, moving its offering to mid-sized clients into the online space.
“We are very pleased to sign this agreement with Acumatica,” said MYOB CEO Tim Reed. “The company’s renowned cloud solution will form a vital part of the MYOB product platform, strengthening our online proposition.”
“This opportunity allows us to respond to our mid-sized clients’ needs. While many are comfortable with desktop applications, others are keen to embrace the productivity benefits of the cloud. We are now in a position to implement a cloud-based ERP solution for our clients who are eager to reap the unique advantages of that environment. This provides a great alternative for mid-sized businesses to our existing on-premise MYOB EXO product range. It will form part of our MYOB Live family of offerings, complementing AccountRight Live, one of our online business management solutions for small businesses.”
Acumatica CEO Yury Larichev said: “MYOB has deservedly earned the respect of an enormous client base. At Acumatica, we are eager to leverage our extensive cloud business application platform to help ensure MYOB’s mid-sized clients will quickly enjoy the superior adaptability and scope of a Web-based ERP solution.”
An iconic Australia and New Zealand-based business leader, MYOB enjoys market shares as high as 70 to 80 percent within its operating markets. Larichev noted that the partnership marks an important continuation of Acumatica’s strategy to expand the company’s product line via exclusive relationships with partners in various channels including ISVs, VARs, hosting providers, and – as in the case of MYOB – OEMs.
He added: “Large financial software providers such as MYOB understand that time to market is critical to succeed with a cloud-based ERP solution. And for many, the optimal solution is to leverage a proven product that has demonstrated increasing traction worldwide.”
The Acumatica-MYOB partnership is the second of its kind for Acumatica. In 2011, the company reached an agreement with Oslo, Norway-based Visma, the Scandinavian region’s largest software vendor, with about 340,000 customers in the Nordic countries as well as The Netherlands. As with Visma, MYOB receives exclusive rights to market the Acumatica platform under the company’s own brand name in Australia and New Zealand.
“While VARs, ISVs and hosting providers still account for the bulk of Acumatica’s valued partner network,” Larichev said, “our company will continue to pursue large-scale OEM deals, such as the one announced today. This is especially so in areas of the world where it will permit our products to become established quickly among a large customer base, helping the Acumatica ERP solution become the Cloud ERP world standard.”
Established in 1991, MYOB is Australasia’s largest business management solutions provider. It makes life easier for over 1.2 million businesses, and provides support via many service channels including a network of over 20,000 accounting firms, bookkeepers and other consultants. MYOB’s solutions simplify accounting, payroll, HR, tax, practice management, CRM, websites, job costing, inventory and more, for businesses of all sizes. It is committed to ongoing innovation, particularly in cloud solutions, and now spends over AU$30 million annually on research and development. In 2013, MYOB expanded its offering with the acquisition of accounting solutions provider BankLink. Visit myob.com.
Founded in 2008, Acumatica is the fastest-growing provider of highly customizable, cloud-based ERP applications for small and midsized businesses, offering financial management, distribution, CRM, and project accounting suites. Acumatica Cloud Platform, the company’s technology development platform, gives ISVs and OEMs a rapid, cost-effective means of developing and integrating cloud-based apps, using industry-standard tools. A Red Herring Top 100 Global Tech Company, Acumatica has quickly gained a solid reputation among developers and users for the flexibility of its platform and its innovative licensing practices; cloud, on-site, and hybrid deployment options; and device independence; as well as broad-based licensing, integration, and customization options. The privately-held company’s products are delivered through a global channel-partner network of VARs, ISVs, and OEMs. Headquartered in Kirkland, WA, Acumatica maintains offices in Washington DC, Moscow, and Singapore. Acumatica has affiliate offices in Indonesia and Mexico. Acumatica is sold through resellers in the US, Canada, UK, Africa, the Middle East, India and various countries in Southeast Asia. In the Nordic countries and the Netherlands, Acumatica is sold as part of Visma.net.