If your organisation has issues with demand planning, inaccurate reporting, and inconsistent data, an ERP system is a great solution. These comprehensive digital platforms provide a central point of truth, reducing confusion and miscommunication.
In this article, we compare two popular ERP systems in New Zealand and Australia — MYOB Acumatica (formerly MYOB Advanced) and HARMONiQ. We review the top features and key differences between these two platforms, helping you choose the right system for your unique needs.
What is an ERP?
ERP stands for Enterprise Resource Planning, referring to an integrated software platform for businesses. All business data and processes are managed on the ERP, ensuring a single point of truth. Common ERPs include MYOB Acumatica, Oracle Netsuite, Microsoft Dynamics, and HARMONiQ.
ERP software encompasses a range of business functions, including (but not limited to):
- Finance management.
- Supply chain management.
- Human resources.
- Customer Relationship Management (CRM).
What is MYOB?
MYOB, which stands for ‘Mind Your Own Business’, is an Australian-based software solution. First developed in the 1980s, MYOB has become one of the most widely used accounting software solutions globally.
In terms of business management solutions, MYOB has three key solutions:
- MYOB Acumatica.
- MYOB Inventory.
- MYOB ExoNet.
What is MYOB Acumatica?
MYOB Acumatica (formerly MYOB Advanced) is a comprehensive, cloud-based Enterprise Resource Planning solution (ERP). It is designed for medium to large businesses that have outgrown basic accounting software and require a more comprehensive solution. The software integrates financial management, CRM, payroll, project management, and business intelligence.
If you require effective inventory management, you may also need the MYOB Inventory module added on.
What is MYOB Inventory?
MYOB Inventory is an additional feature or module available with MYOB software products. It is designed to manage stock, track inventory, and organise supply chain operations. It is often integrated with other MYOB software suites, such as MYOB Acumatica.
It is important to note that MYOB Inventory is not a standalone ERP system and must be used in conjunction with MYOB’s software ecosystem.
What is MYOB ExoNet?
MYOB ExoNet, also referred to as MYOB Exo, is an ERP solution designed for medium-sized businesses needing more advanced features than MYOB’s basic software offers. Unlike MYOB Acumatica, which is cloud-based, Exo is an on-premise solution. However, Exo can also be hosted in the cloud with additional configurations.
In summary, MYOB offers a range of ERP solutions to suit diverse business needs.
What is HARMONiQ?
HARMONiQ is a customisable and scalable ERP system developed by Micronet, one of Australia's largest software companies. The integrated platform allows businesses to streamline processes, drive efficiency, and coordinate data across all functions.
While this platform is suited to a range of companies and industries, it is especially popular with SMEs, wholesalers, and distribution-based businesses. Key features include, but are not limited to:
- Accounting.
- Business Intelligence and Reporting.
- Customer Relationship Management (CRM).
- E-Commerce.
- E-marketing.
- Full transparency across all business channels.
- Inventory management and stock control.
- Orders and Quotes.
- Workflow Automation.
According to Nathan Barnes, Director at Farmgear, “What we liked then and still do, is that the system is so configurable and easy to use.” Read the Farmgear case study.
MYOB Acumatica vs HARMONiQ
Ultimately, the right ERP system for your business depends on your unique needs. Both MYOB Acumatica and HARMONiQ are ERP systems and both are designed to streamline business operations. The key difference between these platforms is which business priorities they cater to best. See the objective comparison below.
| Feature | MYOB Acumatica | HARMONiQ |
| Deployment | Fully cloud-based | On-premise with cloud-based options |
| Target Audience | Medium to large businesses with complex needs | Small to medium-sized businesses |
| Customisation | Highly customisable | Highly customisable |
| Core Features | Financials, CRM, inventory, payroll, project management | Strong focus on inventory management, production processing and job costing. |
| Scalability | Excellent scalability for growing enterprises | Best for small to medium businesses scaling up |
| Integration | Broad integration capabilities with external tools | Built-in, fully configurable API makes integration a breeze |
| Pricing | Higher cost due to advanced features and scalability | Cost-effective for smaller businesses |
The right choice depends on your business size, budget, and operational needs. If you require a fully cloud-based system, advanced scalability, and powerful features for a larger business, choose MYOB Acumatica.
If you need a cost-effective and flexible ERP solution that grows with you, choose HARMONiQ. It is especially suited for businesses prioritising CRM and inventory management, and small to medium-sized organisations seeking growth.
Logiq Group, your ERP partners
Here at Logiq Group, we are New Zealand’s approved agents for HARMONiQ, providing ongoing support and guidance to grow your business. We’ve been specialists since 2012, bringing business consulting, technical and accounting expertise, and 24-hour support. While we set everything up, you can focus on what you do best — running your business.
Based on your company, operations, resources, and required level of integration, we will customise HARMONiQ to suit your needs.
For improved decision-making and business confidence, contact us or try our Cost Calculator quiz today!
