MYOB launches AI app to ease admin burdens for small businesses
MYOB has announced the launch of MYOB Assist, a new AI-supported mobile app aimed at addressing the administrative burdens facing small and medium-sized enterprises (SMEs).
The MYOB Assist app is being rolled out as part of every MYOB Business and AccountRight subscription. It brings together browser-based AI for smart matching and categorisation, with the goal of making tasks such as invoicing and expense tracking faster and less labour intensive for business owners.
The launch comes in response to research commissioned by MYOB, indicating that 56% of SME owners spend more than half of their time managing internal business operations. Recent data also shows that meeting tax compliance obligations is one of the leading challenges for profitability, with 17% of respondents highlighting this as a concern in MYOB's Business Monitor survey.
Features and integration
Among the first features available in MYOB Assist are a 'snap and track' tool for receipts and a real-time invoicing function, with both services designed to synchronise data with browser-based platforms. This integration means business owners can invoice on the move and record expenses immediately, reducing the chance of lost data or missed income.
The in-app data feeds directly into MYOB's smart reconciliation engine, which relies on AI-enabled automation to offer users features such as instant matching and categorisation, together with the ability to sync receipts with their accounts instantly. All these functions are intended to minimise manual data entry and provide up-to-date information with minimal intervention from the user.
According to MYOB, the app's capabilities will assist customers in keeping on top of their administrative responsibilities, particularly as tax deadlines approach. The company argues that making these processes accessible via a mobile device will help business owners feel more in control and prepared.
Feedback from SMEs
"Small business owners are often on the move, meaning a constant juggling act when it comes to managing receipts, invoices and payments," said Dean Chadwick, MYOB's Chief Customer Officer.
"MYOB Assist puts powerful, easy-to-use expense capture and invoicing tools in their pocket, helping them feel in control and freeing them up to focus on their customers, not their paperwork. Through smart technology that works quietly in the background, the app can reduce admin stress and help small businesses feel confident, in control, and ready to grow."
The company says the app was specifically built in response to feedback on the significant administrative workload that small business owners face, echoing the findings from their recent research.
One SME owner, Adrian Katz of Katz Studios, shared his views on the new tool, noting the impact it has had on his workflow.
"As soon as I finish a job, I can send an invoice on the spot - no delays, no extra admin," he said. "The interface is simple, clean and seamless to use, and having an all-in-one expense and invoicing app that I can use on-the-go has really saved me time. Now I can focus my efforts on the core drivers of my business - editing, video production and animation - instead of paperwork."
Future rollout
MYOB Assist will replace the current Capture and Invoice app offered by the company, combining those features within a unified platform. MYOB has stated that the transition will include the introduction of additional features over time, all aimed at improving cashflow management and simplifying administrative processes for SMEs and their advisors.
The company has emphasised that each enhancement to the platform will be introduced with the goal of increasing efficiency and reducing time spent on business administration, based on continued feedback from their SME clients and partners.
