“So you want me to talk about the benefits of MYOB? … How long have you got?!?”
For Leigh-Ann Rohde and her family, MYOB Business AccountRight’s wide range of integrated features has been a revelation in how to run their business — Cardboard Box Shop — in a way that benefits their customers best.
Nestled in the heart of Brisbane, Cardboard Box Shop stands as proof of the winning combination of a long-running family business and modern, smart technology.
For more than 50 years, this family-run enterprise has been a cornerstone of the local community, providing a wide array of packaging solutions.
From humble beginnings in 1974, the business has grown significantly, and at the heart of this growth lies their adoption of MYOB, which has streamlined their operations and enhanced their ongoing success.
A family legacy
For Leigh-Ann, the company secretary, the rich history of Cardboard Box Shop is the foundation of their reputation for high-quality work.
“It's a family business, run by my husband, his siblings, and his parents, who still work here as well,” she says.
This close-knit team has seen the business evolve from selling second-hand cartons to farmers, to offering a comprehensive range of stock size and custom boxes to a diverse clientele including small businesses, bakeries, and large companies needing custom packaging with their logos.
The shift to MYOB
But by the turn of this century, the business faced a critical decision.
Their previous computer system was rapidly approaching its end life and was no longer user-friendly to either staff or customers, meaning the entire customer experience was a much more inefficient business process than it needed to be.
“We implemented MYOB in 2000 to replace our old networking system, which was just a blue screen at that point,” Leigh-Ann explains.
This transition was a significant upgrade, bringing a more upscale and user-friendly platform to the business.
This change was pivotal in not only streamlining their processes and making everyday tasks more manageable, but also making the customer experience far easier.
Simplifying operations
Today, one of the biggest impacts MYOB has had on Cardboard Box Shop is in simplifying their operations.
“It's very easy to do the invoicing and track down payments. A lot of it is automatic now,” Leigh-Ann says.
This automation has reduced the amount of manual work required, allowing the team to focus on more critical aspects of the business.
Inventory management, a crucial component of their operations, has also benefited greatly from the implementation of MYOB.
"We hold more than a thousand item codes now, and it's growing. MYOB helps us keep track of all our stock lines and replenish when needed."
— Leigh-Ann Rohde
The ability to manage such a large inventory efficiently is something she notes is unmatched by other programs they’ve researched.
End of financial year made easy
One of the most stressful times for any business is the end of the financial year.
This period often involves a flurry of activity, from finalising accounts to preparing reports and ensuring compliance with tax regulations.
However, for Cardboard Box Shop, MYOB has transformed what used to be a daunting task into a streamlined process.
“Where it used to take a week to finalise everything, I can now do end-of-financial-year reports within two days, which is pretty impressive,” Leigh-Ann explains.
How MYOB simplifies EOFY processes:
Automated Financial Reports:
MYOB automates the generation of crucial financial reports such as profit and loss statements, balance sheets, and cashflow statements. These reports are essential for assessing the financial health of the business and ensuring all financial activities are accurately recorded.
Tax Compliance:
Keeping up with tax regulations can be challenging, but MYOB helps by automating tax calculations and updates, ensuring that all compliance requirements are met without the manual effort.
Effortless Payment Reconciliation:
Reconciling accounts is a breeze with MYOB, as it automatically matches transactions with bank statements, significantly reducing the potential for errors.
Real-Time Financial Insights:
With real-time access to financial data, Leigh-Ann and her team can make informed decisions quickly and accurately, ensuring that the business remains on track throughout the year.
This efficiency not only reduces stress during the EOFY rush but also allows more time for strategic planning and business development.
Online Invoice Payments: transforming cashflow management
Cashflow is the lifeblood of any business, and ensuring timely payments from customers is crucial.
Before implementing MYOB's online invoice payments, Cardboard Box Shop faced challenges in getting paid promptly.
Customers would receive invoices but then have to either call to provide credit card details or manually transfer payments through their bank.
This often resulted in delays and a cumbersome payment tracking process.
The benefits of Online Invoice Payments with MYOB:
Faster Payments:
MYOB’s online invoice payments allow customers to pay their invoices immediately upon receipt. With just a click of a button, payments can be made swiftly and securely.
Improved Cashflow:
With faster payments, The Cardboard Box Shop has seen a significant improvement in cashflow. This ensures that funds are available when needed, reducing financial strain and enabling better financial planning.
Automatic Payment Tracking:
MYOB automatically tracks payments, so Leigh-Ann and her team no longer has to manually reconcile each payment. "Tracking online invoice payments is super easy. It all goes into our payment area, even the extra little bits for any incidentals. And it's all in one area, so we don't have to go searching for it," she says.
Automated Payment Reminders:
One of the standout features is the automatic payment reminders. MYOB can be set to send reminders at intervals of 15 days, 30 days, or any custom period. This has dramatically reduced the number of overdue accounts. "Our creditors have been significantly reduced since bringing on the online invoice payments and reminders," Leigh-Ann notes.
Customer Convenience:
The simplicity of the online payment process enhances the customer experience. Customers appreciate the ease of paying their invoices online without additional fees beyond standard credit card charges.
"Nine times out of ten, they use the online invoice payments."
— Leigh-Ann Rohde
Overcoming payment delays
Before implementing MYOB's online invoice payments, Cardboard Box Shop often dealt with delays in receiving payments.
Customers would sometimes procrastinate or forget to pay, leading to cashflow challenges. The introduction of online invoice payments has turned this situation around.
“Now that we have online invoice payments, it is super easy for the customer to pay as soon as they get the invoice. So it is in respect straight away,” Leigh-Ann explains.
Moreover, the system's ability to automatically send reminders means that customers are gently nudged to pay their invoices on time, further reducing the burden on the business to chase payments.
“We did have a few customers that were a little bit slack in paying their bills, but with online invoice payments and reminders, we are able to send those reminders out, and they pay reasonably well now. So they might only get two reminders instead of ten,” says Leigh-Ann.
Seamless website integration
The integration of MYOB with Cardboard Box Shop's website has created a unified order and payment process.
Customers can place orders online, and these orders flow directly into MYOB without any manual data entry from the staff.
This not only reduces the workload but also ensures that all orders and payments are accurately recorded in real-time.
Leigh-Ann explains, “The integration with MYOB and our website is seamless. It has created a system where the customer will make an order, and it'll flow straight into MYOB.
“We don't have to do anything. The payments go through, and everything goes straight through to MYOB. It's just created less data input by our staff, and it's really great."
Transitioning to the cloud has also brought a new level of efficiency to Cardboard Box Shop.
“Since moving to the cloud, it's a lot easier for us to follow our payments and keep track of our customers.”
— Leigh-Ann Rohde
This centralisation of data has allowed the business to operate more smoothly and respond to customer needs more promptly.
Work-life balance
For Leigh-Ann, the benefits of MYOB extend well beyond the day-to-day business operations.
The automation and optimisation provided by MYOB have given her more time to enjoy life outside of work.
“I can go to yoga, create artwork at home, and spend more time with my family,” she shares.
This improved work-life balance is echoed by her colleagues, who now have more time for recreational activities and spending time with their families.
Customer relationships
At the core of The Cardboard Box Shop's success is their commitment to their customers.
“Customers come to us because we are a family business, and they prefer us over other competitors because we're honest and direct," Leigh-Ann says.
With MYOB, The Cardboard Box Shop is well-equipped to continue its legacy of excellence.
Leigh-Ann recommends MYOB to businesses of any size, not just for tax time but for the overall efficiency and simplicity it brings to daily operations.
The story of The Cardboard Box Shop is one of tradition, innovation, and community.
By embracing MYOB, they have managed to stay true to their family values while adopting modern solutions that propel their business forward.
As Leigh-Ann sums it up, “At the end of the day, I just really love what I do.”
