These figures were reached in December 2014, with the December quarter seeing ‘over two thirds (67%) of new MYOB SME product registrations’ being cloud subscriptions.
MYOB says ‘this compares to 61% in the quarter ending 30 June 2014 and 48% in the comparable quarter for 2013.’
MYOB’s GM of SME Solutions, James Scollay said: “Achieving 500,000 regular paying clients is an exciting milestone, reflecting the fantastic pace at which the market is adopting our cloud offerings.
“We recognise that small and medium businesses have different and specific needs and have invested significantly in R&D, with over $40 million invested in 2014 alone, to develop a range of leading-edge cloud solutions.
“Our cloud solutions suite provides SMEs in Australia and New Zealand with a wide range of available solutions, so we’re able to meet their needs at any stage of their businesses growth cycle.
“With our suite of exciting products that make business life easier for micro, small and medium-sized enterprises, and significant investment in R&D, we are positioned well for continued growth moving forward.
“The uptake of our cloud solutions is driving growth of our total, paying and online users, whilst solidifying MYOB as the leading accounting solutions provider in Australia and New Zealand,” Scollay concluded.