MYOB ADVANCED + BUSINESSHUB SUCCESS STORY
Discover how BusinessHub partnered with one of Australia’s most respected music retailers to retune its business with a powerful ERP system that supports its fast-growing retail business.
They now enjoy inter-company mapping: consolidated reporting across multiple locations and single-touch payroll speed up workflow.
Read their experience with BusinessHub and MYOB Advanced.
In the late 1970s, Macron Music opened on the main street of Gosford on the Central Coast of NSW. It quickly became the go-to place for local musicians and music lovers alike and would continue that success for decades to come. When the opportunity to buy the iconic instrument shop came up in 2015, it was one that Anthony Ursino – who had started working there in 2008 – couldn’t pass up. Then, in 2019, Macron Music purchased one of Melbourne’s premier music retail brands, GH Music. This increased the company’s retail footprint to three locations, 20 staff and a newly-launched eCommerce store. With this expansion came a growing need for a more efficient and integrated business management solution.
While Macron Music was finding its feet amid the expansion, the pandemic hit and made things even more complex. “When COVID hit, we faced the double-edged problem that most other retailers had – demand was high, but supply was low,” explains Anthony. “We also hadn’t really thought about upgrading our systems yet, but with COVID, we flagged that that was going to be an issue.” The company quickly upgraded to the cloud-based point of sale (POS) and inventory management systems, and that’s when Anthony turned his attention to the accounting system. “We all needed to be running off the same song sheet rather than having multiple, disparate systems,” he explains.
On top of that, the team was frustrated that they couldn’t access data that gave a real-time look at their business. “All that time was spent journaling things in and out of various entities because of the way we had our systems running.” Anthony says MYOB Advanced Business ticked all the right functionality boxes, and “having cloud access to everything in our business is just incredible.”
By implementing MYOB Advanced Business, Macron Music now has seamless integration and consolidated real-time reporting across multiple stores and online. This has significantly reduced the time and cost of managing finances and operations, allowing the team to focus on growing their business.
With MYOB Advanced Business, we can have multiple users log into the platform from anywhere. It’s quick, there’s no downtime and it makes everybody’s lives easier. Going cloud-based was a non-negotiable for us.
Seamless integration with eCommerce platform
With MYOB Advanced Business, we’re able to reconcile our accounts daily instead of 30 days after the fact, and we know that all those merchant fees and surcharges have been accounted for.
One of Anthony’s major concerns was finding an ERP system that could integrate with Neto (now Maropost Commerce Cloud), their eCommerce platform, as well as their inventory and POS systems.
He says many software integrations are still catching up with eCommerce solutions, so he was pleasantly surprised when he was introduced to MYOB Advanced Business.
Using API mapping, the data from the company’s existing systems are automatically replicated in MYOB Advanced Business, so they’re able to manage the entire business from one system. It’s also built a program interface that sorts out any data irregularities.
Online retail equates to approximately 30% of Macron Music’s sales, making it the fastest-growing part of the business and an area where hidden costs can quickly chew into profit. “For example, we offer seven to eight payment methods, and at least five or six of them have costs associated with them,” Anthony explains.
What’s more, most of the reconciliation work is now automated, significantly reducing the risk of error. “With our bank reconciliations up to date and our costs and POs all going in attributed to the right suppliers, we can now get a real-time P&L and track how we’re performing over the month or year.”
Inter-company mapping + real-time reporting
Under the Macron Music umbrella sit three separate companies that trade with each other. Before MYOB Advanced Business, the cost of goods for each sale would have to be journaled in and out between those companies – a process that is now done automatically.
“With MYOB Advanced Business, we can sell whatever we want from wherever and the software will keep up with the origin of the stock and provide the correct cost of goods to the right entity.” Reporting is more accurate and there are significantly fewer journal entries, which makes Anthony – and his accountants – sing.
“We also dropship from other locations, so inventory management from that point of view was a real issue and causing a lot of reporting problems. Now, we can clearly see what we’re making on each product, and that’s purely down to the fact that MYOB Advanced Business has the capabilities to support our type of business.”
With MYOB Advanced Business, we can sell whatever we want from wherever and the software will keep up with the origin of the stock and provide the correct cost of goods to the right entity.
Payroll takes ‘around 4.5 minutes per store’
With the rising cost of superannuation in Australia and the added complexities of more staff across more locations, Anthony says payroll was something that could easily spiral out of control. With MYOB Advanced Business integrating MYOB Advanced, Anthony can seamlessly jump between each entity’s payroll and quickly pull combined reporting across the group – something he couldn’t do beforehand. While it can take some time to customise the payroll workflow, that’s the beauty of the system and the reason he can get his payroll done for all stores in under 10 minutes. “You can set it up so all you have to do is go in once a week to each employee and click a button … done!”
How BusinessHub helped change the tune
Our experience with Macron Music is that they were a highly engaged customer who was able to take feedback and adjust their processes and ask great questions. This was paramount to the success of their implementation.
Partnering with Macron Music, BusinessHub saw an opportunity to improve operations and outputs through a streamlined implementation of MYOB Advanced Business.
BusinessHub was first introduced to Macron Music through a colleague who had a deep understanding of MYOB products and saw a suitable fit across a multi-company environment.
After meeting to understand their key requirements, which included multi-location, multi-company, integrating with Maropost Commerce Cloud and unifying their data in a single platform, it was found that another factor for Macron Music was gaining visibility over their inventory.
The implementation process
Implementation of MYOB Advanced Business was done using BusinessHub’s three-phase approach:
1. Gaining a deep understanding of Macron Music’s requirements.
2. Enabling the platform to achieve their business outcomes.
3. Empowering the customer (Macron Music) to be able to work with the product.
Through this system, BusinessHub was able to effectively empower Macron Music to do that integration by themselves, which gave them greater control and understanding of how everything works together and allowed them to optimise that process.
The implementation of MYOB Advanced Business has unified Macron Music’s data.
It has given them a single view of their business performance, even though they operate through multiple legal entities for different streams and geographical locations.
They can now effectively see their entire business as a whole, while still retaining the compliance structures they wish to keep.
Best of all, they now have a platform to scale with them as they grow further.
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Since MYOB Advanced
+ Powerful ERP system supports the fast-growing omni-channel retailer
+ Seamless integration between finance, inventory and POS systems
+ Inter-company mapping: consolidated reporting across multiple locations
+ Automated bank reconciliations significantly reduce the risk of error
+ Less time spent on manual data entry reduces business costs
+ Single touch payroll speeds up workflow – payroll takes less than 10 minutes
+ Room to scale: business can add more modules as needed.
Strike the right chord like Macron Music
Be like Anthony and contact the team at BusinessHub