The GST is the biggest hurdle facing small business, but it's a potential cash cow for resellers, according to MYOB's CEO, Craig Winkler.
`We've always been committed to not going out and competing with the channel,' Winkler told ARN. `We're not doing the Compaq thing and setting up MYOB stores, and we're not direct selling to our existing customers. GST software offers huge potential for us and for the channel to come along with us. It's a huge growth area because a large number of businesses don't have accounting software.'
Winkler recently told delegates at the eLiterate IT&T conference at Sydney's QVB Ballroom that 500,000 (45 per cent) of small businesses had not yet computerised their accounts, and a further 200,000 businesses did not have GST-compliant software.
In launching the Premier version 3 of the accounting package, and with the GST due to be implemented on July 1 next year and the first GST returns due in October, Winkler said the peak sales time for GST-compliant MYOB products would be between April and November 2000.
And according to Winkler, MYOB Premier version 3 offers a number of new and improved features to increase productivity and efficiency for small-to-medium businesses. He added that all MYOB accounting products are now GST-ready.
`MYOB Premier version 3 complies with the requirements of the ATO, so businesses can now concurrently work with the Wholesale Sales Tax and the GST to make a smooth transition to the new tax environment,' Winkler said.
`It also has a multi-currency feature which keeps track of exchange rates,' he added, claiming it was a useful feature for Australian businesses in the global marketplace.
Although Winkler confirmed his company is interested in further acquisitions both in Australia and overseas to plug product holes and acquire new technology, he said that no acquisitions were currently in the pipeline.
The recommended retail price of MYOB Premier 3 is $999. MYOB 1800 555 111