MYOB Practice Online
The full story of our long-term collaboration with MYOB
Terem has had a five-year long partnership with MYOB to help them develop various products, most recently working collaboratively with them on key modules of their Practice Online product for the New Zealand and Australian accounting software markets.
MYOB has spent the last seven years working on various cloud-hosted SaaS offerings to replace their current client/server legacy desktop products for small to medium accounting practices—to enable better user experience and a subscription-based adoption—as they face competition from new entrants in the market. Work in this area ramped up in 2018 with a new architectural design and a new private owner of the company. MYOB selected Terem as a partner organisation to assist with product management, product development and delivery capabilities to help build the critical Financial Reports module for Practice Online.
In 2020, Terem took a greater role in product managing the work for the entire Client Accounting area (including Financial Reports and Asset Manager). Terem embedded a second product development team to handle the expanded responsibility, whilst another team was embedded to help deliver critical tax changes for New Zealand Tax in Practice Online – NZ.
The Terem team working on Practice Online – NZ played a key role in the massive upgrade and data migration effort required to move taxation data for all MYOB accounting customers in New Zealand to the new cloud product by mid-2021. The tight deadlines were achieved and allowed their customers to maintain regulatory compliance with the latest Inland Revenue Department gateway filing system.
In July 2021, all embedded Terem teams rolled off this engagement, with a thorough, extended handover of technical and product management work to new Practice Online teams within the MYOB development organisation. This was achieved through a variety of documentation artefacts, videos, walkthroughs and in-person learning sessions.
After two previously unsuccessful attempts Terem took on the challenge of defining and building a Financial Reports module that was delivered into the early adopter program.
Terem delivered a complex reporting engine within the Practice Online product, with six statutory reporting templates, which accountants could configure for clients, and which users relied on to complete holistic financial regulatory reports for specific client types.
In order to meet key deadlines, an embedded Terem team supplemented the development capacity of MYOB’s existing Practice Online teams, and:
Delivered a NZ Online Rollover feature that allows MYOB users to rollover their financial data from the previous tax year data in desktop to the current tax year data in the cloud.
Delivered several features that made it quicker and easier for clients to file their taxes in time for the start of the 2021 NZ tax year.
Improved understanding of existing services and interoperability between services. Our team uncovered nuances in system implementation and functionality that were unknown to the existing MYOB teams, and helped them in their solution design for the next pieces of work.
On all of our engagements, Terem worked with MYOB to help uplift internal capabilities.
Some highlights were:
Coaching team members to improve their transparency and communication.
We uncovered areas for improvement in the way MYOB managed their roadmap and provided recommendations for better prioritisation, better alignment across teams, and keeping the roadmap up-to-date.
While working alongside the MYOB teams in development our team uncovered some key areas for improvement with product development, and proposed a plan for improvement to senior technology and delivery management.