Tips for Successful Businesses

ABC Business Solutions
Oct 29
3 min read

Accurate Information = Better Business Decisions

Read more to find out about our top tips for successful business.

As we approach the end of October, we’re over a quarter through the financial year, which is the perfect time to review your business performance and make informed decisions.

Tracking your financial data can tell you:

How does your performance compare to this time last year?
What can be improved or changed in the next three months?
What are your KPIs revealing about profitability and efficiency?
Which markets are shifting — and what new ones should you target?
Do you appear profitable but still struggle with cash flow?

Successful businesses don’t thrive on luck. They succeed through strategy- by working on the business, not just in it.

To make confident decisions, you need accurate financial information and the courage to act on it. Ignoring or sugar-coating issues won’t help; addressing them directly will.

If your accounting software isn’t giving you clear, measurable insights, contact us to book a session with one of our Cost and Management Accountants.

We can also provide Business Development support with Scott, available monthly over 6 or 12 months on a fixed-price plan. Focus areas include:

Profitability and cash flow
Managing debt
KPI development
Direct and indirect costing
Staffing and marketing strategies

Successful businesses need the right accounting or ERP system. This is why choosing one is so important:

Xero

Xero Cloud Accounting makes managing your finances simple and efficient. Xero is currently offering free data migration from MYOB AccountRight, allowing you to keep your financial history when you switch.

Xero includes:

Payroll and cash flow reporting
Customisable general ledger and fixed asset register
Multi-user access at no extra cost
A wide range of add-ons for job tracking, project management, and more

Perfect for small to medium businesses, Xero integrates seamlessly with add-ons like Ostendo and WorkflowMax, providing powerful tools for inventory, manufacturing, and job management.

Plans range from $50–$80 per month, depending on the number of employees.

If you’re considering moving to Xero, contact us to discuss the best setup for your business.

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MoneyWorks

MoneyWorks is a robust ERP accounting system ideal for medium to large businesses. It supports both on-premise and cloud hosting, and offers:

Multi-entity management in one database
Department, branch, and analysis-level reporting
Comprehensive budgeting and custom report writing
International VAT/GST support
Integration with Ostendo for advanced operational management

MoneyWorks can be:

Fully hosted for $75/month per user (including hosting), or
Purchased outright for $2,995 for 3 users, with a 20% annual licence renewal fee

MoneyWorks runs on both Windows and Mac, with hosting and backups handled for you.

If you’re seeking an ERP accounting system with advanced control and scalability, contact Jennifer for an online demo.

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MYOB Exo Business

MYOB Exo Business is a comprehensive on-premise ERP solution designed for businesses that have outgrown basic accounting software. It offers deep insight into your finance, inventory, and job costing, all in one flexible system.

Key features include:

Detailed job costing and project management
Advanced stock and inventory control
Customisable reporting and dashboards
Integration with payroll and CRM tools

MYOB Exo is ideal for growing and mid-sized businesses that need a tailored ERP solution capable of managing complex workflows and multiple entities.

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MYOB Acumatica (previously known as MYOB Advanced)

MYOB Acumatica, known as MYOB Advanced, is a fully cloud-based ERP platform built for larger or multi-site businesses seeking scalability, flexibility, and complete business visibility.

It provides end-to-end management across:

Financials, distribution, and inventory
Project and job cost tracking
CRM, payroll, and HR
Real-time business intelligence and reporting

With anywhere, anytime access, MYOB Advanced allows your team to work collaboratively from any location. Its modular design means you only pay for the features you need, while maintaining powerful scalability as your business grows.

ABC Business Solutions are MYOB Exo and MYOB Advanced specialists, providing full implementation, support, and training to ensure your ERP system is set up for success.

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Ostendo

For businesses requiring inventory, manufacturing, or project management, Ostendo is a comprehensive operational system that integrates automatically with Xero, MoneyWorks, MYOB Exo, and MYOB Advanced via API.

It delivers seamless data flow, reducing manual entry and improving efficiency across your operations.