The accounting software war between incumbent (MYOB) and the challenger (Xero) continues to heat up.
According to ZDNet, MYOB has announced a special offer of six months free to the Account Right Live product. It is difficult to find any other information on the web about this offer and perhaps that is a symptom of what is MYOB's biggest challenge; namely, moving to the new way of doing business.
Xero has announced a massive funding infusion through a capital raising. This was so well publicised, their stock jumped on the news. It looks like Xero are out to conquer the accounting software world. We like companies with big ambitions and they are executing very well to date.
Intuit, the maker of QuickBooks are also in the sites of Xero. The funds raised as part of the capital raising will be used to more actively push into the US market.
Whether you are a MYOB, Xero or Quickbooks user, the future looks bright. The reason is that all of the players are pushing into the cloud. Subscription models often cost more than buying the software outright, but if you subscribe to updates then there is no doubt you should be considering a switch to the cloud.