MYOB is revolutionising franchise systems

With 20+ years of experience servicing Australia’s small to medium businesses, MYOB is changing the way franchise systems use technology to innovate, grow and expand. It has played a significant role in servicing the franchise sector through market-leading Enterprise and SME Accounting and Retail software solutions. With approximately 1.2 million SME customers in Australia and New Zealand, MYOB is passionate about making business life easier for Australia’s franchise industry.

Avoiding compliance risks

The recent publicity surrounding 7-Eleven and some of the breaches its franchisees are claimed to have committed may have far greater impact on the franchise sector than many realise. Never has there been a better time for franchisors to conduct in-depth reviews of end-to-end processes within their group to ensure they have the right systems in place to mitigate compliance risks – and avoid being dragged into the public eye for the wrong reasons.

The risks of non-compliance are high and can have a crippling effect on a franchise from both a PR and financial perspective. It affects the franchisees who are invested in the parent group, and the employees at a store level who put their faith in working for a compliant system. Compliance issues are actually very easy to avoid, but many legacy systems in place at both franchisor and franchisee level means that often it is too late to stop the fall out by the time the problem is found.

Online technology

The emergence of ‘online’ has seen franchise systems look to transform the way their business not only interacts with customers via mobile apps or EDM communications, but also internally as a group through integrated solutions to automate processes and provide access to real-time data and reporting.

Franchise systems that aren’t focused on upgrading their existing infrastructure risk leaving their franchisees behind when it comes to providing market-leading tools to help them better manage their business. Market-leading tools including functionality such as automating historically time-consuming and mundane back office tasks, reducing risk and compliance concerns at a store level, and spending more time away from their back-of-house tasks so they can better service their customers and run a more profitable business.

MYOB has a division entirely dedicated to the franchise industry

MYOB is changing the game in how technology companies support Australia’s franchise industry. Foreseeing the amount of change occurring within the franchise sector, MYOB invested in a dedicated Franchise Solutions Team to service this very important part of the small business community.

The team is made up of:

• Franchise Development Managers who oversee the commercial relationships and project plans with franchisors
• An Inbound Support Team to assist franchisees with any product, technical and account-related queries
• A Marketing Team that works collaboratively with franchisor marketing resources to ensure the information transfer is seamless and clear
• The largest partner community in Australia (~40,000 partners) to support franchisees at the coalface (Bookkeeping/Accounting Support, Business Consultation, Onsite Training)

As the Accounting Software Partner of choice for the FCA, MYOB is working closely with the FCA to ensure that all of its members receive the right level of information and support to help with each Franchise’s own growth and expansion journey. MYOB is invested in this space because it is passionate about the success of franchising in Australia.