MYOB eyes NZ expansion

software firm that competes with Xero, wants to build on its dominant New Zealand market position, and sees prospects for growth from an as-yet untapped market as it shifts its customers to cloud-based applications, NBR reports.

CE Tim Reed told BusinessDesk that trading has been strong for the local unit, which holds between 60% and 70% of the New Zealand accounting market, and there is scope to extend its reach.

The accounting and payroll software firm has "north of 170 000" customers, but with some 450 000 businesses in New Zealand, there are "large opportunities for us", he said.

According to Computer World, research carried out by MYOB with Colmar Brunton shows 80% of New Zealanders look online to research products or services before purchasing them, but only 32% of New Zealand businesses have Web sites.

MYOB partnered with Google in the development of MYOB Atlas, and says it has taken inspiration from Google Apps for Business for the GetOnline initiative.

At the same time, MYOB is in the process of migrating payroll customers on to its 'LiveAccounts' application, which enables firms to access all of the company's services in the cloud that have previously been limited to desktop, Scoop states.

Reed is upbeat about the prospects for New Zealand, saying: "There are lots of green shoots."