MYOB bets integrated services are the future of accounting

The accounting software company MYOB recently rolled a new service into its suite: payment transaction. The company, whose name is short for mind your own business, acquired Paycorp in a $48 million deal, making it the first to market with a product that integrates payments and accounting, as Yolanda Redrup writes for Financial Review. It’s part of a shift toward what CEO Tim Reed sees as the future of accounting: a union of transaction processing, compliance work, and business coaching, all combined to better process real-time data flows. MYOB reported a 13% increase in revenue last year.

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