Wednesday, January 4, 2017

Comparison between Accounting Software - Malaysian Market

Comparison between Accounting Software - Malaysian Market
There are many software for the SMEs in Malaysia for the accounting.
The following are the comparison between them.

We have selected the  following for comparison:
 2. MYOB
3. Quickbook
4. OfficeCentral

The following are the criteria that we compare:
  • Technology
  • Mobile Apps Availability
  • Business Management
  • Easy to Set Up & Access Help
  • Sales Invoice and Manage Debtors
  • Track GST
  • Business Reporting
  • Pay & Track Expenses
  • Set – Up Recurring Transactions
  • Estimates (QUotes) & Job Costing
  • Create Purchase Orders
  • Manage Creditors
  • Inventory Stock Management
  • Links with Microsoft Office
  • Company File Auditor
  • Time Billing
  • Multiple Currencies
  • Multi-Level Pricing
  • Multi-Companies
  • Multi Users
  • Multi- Stock Locations
  • Customisablility
  • Subsidiary Companies monitoring
  • CRM Integration Availability
The following is the result of he comparison:

Criteria UBS  MYOB QuickBook OfficeCentral
Cloud technology PC Based PC Based Cloud Cloud
Mobile Apps is provided No No Yes Yes
Business Management Yes Yes Yes Yes
Easy to Set Up & Access Help Yes Yes Yes Yes
Sales Invoice and Manage Debtors Yes Yes Yes Yes
Track GST Yes Yes Yes Yes
Business Reporting Yes Yes Yes Yes
Pay & Track Expenses Yes Yes Yes Yes
Set – Up Recurring Transactions Yes Yes Yes Yes
Estimates (QUotes) & Job Costing Yes Yes Yes Yes
Create Purchase Orders Yes Yes Yes Yes
Manage Creditors Yes Yes Yes Yes
Inventory Stock Management Yes Yes Yes Yes
Links with Microsoft Office Yes Yes Yes Yes
Company File Auditor Yes Yes Yes Yes
Time Billing Yes Yes Yes Yes
Multiple Currencies Yes Yes Yes Yes
Multi-Level Pricing Yes Yes Yes Yes
Multi-Companies Yes No No Yes
Multi Users License based License based License based License based
Multi- Stock Locations No No No Yes
Customisablility No No No Yes
Subsidiary/ Group Monitoring No No No Yes
Integrated with CRM No No No Yes

All the accounting software provide the features required by their target customers.

However some software have certain features due to their focus on certain target market.

One of the problem of the older technology like PC-based technology is the lack of features provided by cloud technology. Technically because of the technology difference, many fantastic features of the cloud technology like access from anywhere, access from mobile and integration with  other software modules are not possible. UBS and MYOB suffers from this weakness.

The UBS and MYOB have been in the market for more than 20 years. They have a strong following and many users are trained in the system. So they have the advantage here. The UBS is designed for experience accountant in mind. So many small enterprises that could not afford accountant will find it very difficult to operate.

Whereas Quickbook and OfficeCentral are designed with entrepreneurs in mind. So the system is easy to use and very intuitive. The Dashboards and Reports are very friendly to entrepreneurs.

OfficeCentral designed the system with entrepreneur in mind. OfficeCentral provides CRM tools. CRM is one of the major tools that entrepreneurs can use in order to be very effective. CRM provides them with sales management, sales staff KPI management, Leads and Account management and the Point of Sales, Distribution Management and Inventory management. The Mobile Apps for sales staff also comes in handy.


Elizabeth J. Neal said...

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