MYOB has dismissed industry speculation concerning the future of its accounting service BankLink, just two years after acquiring the company.
Despite strong feedback regarding the company’s cloud strategy, rumours are surfacing around MYOB’s position on BankLink, and whether it will continue supporting the service going forward.
“Let me address those rumours and be absolutely clear about our strategy in this area,” says says James Scollay, General Manager, Business Division, MYOB.
“BankLink has been part of the MYOB family for two years now, and it’s become a core part of our product proposition.
“Let me tell you 100 percent unequivocally, BankLink will remain a core part of our proposition for many years to come.
“That means we’ll invest in BankLink, we’ll support BankLink, and we’ll continue to improve BankLink.”
Scollay says MYOB recognises that the magic of BankLink is in the end-to-end workflow for accountants.
“If I hear one thing from accountants continuously, it’s: ‘Don’t go changing that’,” he adds.
“We get that. We get that end-to-end service magic.
“So we’re going to continue to make it easier based on partner feedback. In my opinion, BankLink users will give us the roadmap for this product for years to come.”
As the market shifts online, Scollay says MYOB sees the opportunities for expanding the segment of the market where small businesses say to their accountants do my accounts for me as pretty significant.
“I really believe there is a huge opportunity for accountants to grow in this area,” he says.
“BankLink is the clear market leader in this do my accounts for me space and sets the standard in terms of helping accountants take on small business accounting processes efficiently, profitably and at scale.”
As a result, Scollay says MYOB is going to build BankLink online.
“BankLink as you know and love is going to stay,” he adds.
“But on top of that we’re going to build BankLink online; a browser-based solution that captures the magic of BankLink, accessible through a browser.
“So accountants will have all the obvious benefits on being online around infrastructure and service management, plus enhanced ability to collaborate with clients.”
So Scollay advises the market to “forget any gossip you’ve heard” and help blow out the candles on BankLink’s second MYOB birthday.
“The second of many, many more to come,” he adds.