TrustRadius: an HG Insights company

Save this comparison

Save this comparison

Add Product

Recommended Comparisons

    Overview
    ProductRatingMost Used ByProduct SummaryStarting Price

    MYOB

    Score8.3 out of 10
    N/AMYOB now has a suite of subscription-based products and a browser-based accounting product that was released in August 2010. On 24 October 2012, MYOB released AccountRight Live - the cloud-enabled version of its flagship product. MYOB competes with Xero and QuickBooks.

    $11

    per month

    Synoptix

    Score7.5 out of 10
    Mid-Size Companies (51-1,000 employees)
    Synoptic provides ERP financial reporting tools and analysis. This solution is designed to deliver real-time data. The vendor’s value proposition is that their solution empowers users to create financial and operational reports with spreadsheet ease of use.N/A
    Pricing
    MYOBSynoptix
    Editions & Modules
    Solo
    $11
    per month
    Lite
    $34
    per month
    Pro
    $63
    per month
    Premier
    $88.50
    per month
    Account Right Plus
    $150
    per month
    No answers on this topic
    Offerings
    Pricing Offerings
    MYOBSynoptix
    Free Trial
    YesNo
    Free/Freemium Version
    NoNo
    Premium Consulting/Integration Services
    NoYes
    Entry-level Setup FeeNo setup feeOptional
    Additional Details——
    More Pricing Information
    Features
    MYOBSynoptix
    Payroll Management
    Comparison of Payroll Management features of MYOB and Synoptix
    Feature
    MYOB
    10.0
    12 Ratings
    28% above category average
    Synoptix
    -
    Ratings
    Pay calculation10.012 Ratings00 Ratings
    Benefit plan administration10.08 Ratings00 Ratings
    Direct deposit files10.010 Ratings00 Ratings
    Salary revision and increment management10.08 Ratings00 Ratings
    Reimbursement management10.08 Ratings00 Ratings
    Customization
    Comparison of Customization features of MYOB and Synoptix
    Feature
    MYOB
    10.0
    7 Ratings
    28% above category average
    Synoptix
    -
    Ratings
    API for custom integration10.07 Ratings00 Ratings
    Plug-ins10.06 Ratings00 Ratings
    Security
    Comparison of Security features of MYOB and Synoptix
    Feature
    MYOB
    10.0
    12 Ratings
    20% above category average
    Synoptix
    -
    Ratings
    Single sign-on capability10.011 Ratings00 Ratings
    Role-based user permissions10.012 Ratings00 Ratings
    Reporting & Analytics
    Comparison of Reporting & Analytics features of MYOB and Synoptix
    Feature
    MYOB
    10.0
    12 Ratings
    24% above category average
    Synoptix
    -
    Ratings
    Dashboards10.011 Ratings00 Ratings
    Standard reports10.012 Ratings00 Ratings
    Custom reports10.011 Ratings00 Ratings
    General Ledger and Configurable Accounting
    Comparison of General Ledger and Configurable Accounting features of MYOB and Synoptix
    Feature
    MYOB
    9.1
    16 Ratings
    18% above category average
    Synoptix
    -
    Ratings
    Accounts payable10.016 Ratings00 Ratings
    Accounts receivable10.016 Ratings00 Ratings
    Cash management10.015 Ratings00 Ratings
    Bank reconciliation10.016 Ratings00 Ratings
    Expense management10.012 Ratings00 Ratings
    Time tracking6.07 Ratings00 Ratings
    Fixed asset management10.09 Ratings00 Ratings
    Multi-currency support10.08 Ratings00 Ratings
    Multi-division support10.07 Ratings00 Ratings
    Regulations compliance10.09 Ratings00 Ratings
    Electronic tax filing5.19 Ratings00 Ratings
    Self-service portal6.37 Ratings00 Ratings
    Global Financial Support10.06 Ratings00 Ratings
    Primary and Secondary Ledgers10.08 Ratings00 Ratings
    Intercompany Accounting10.06 Ratings00 Ratings
    Localizations10.06 Ratings00 Ratings
    Journals and Reconciliations10.012 Ratings00 Ratings
    Enterprise Accounting2.84 Ratings00 Ratings
    Configurable Accounting10.09 Ratings00 Ratings
    Centralized Rules Framework10.04 Ratings00 Ratings
    Standardized Processes10.08 Ratings00 Ratings
    Inventory Management
    Comparison of Inventory Management features of MYOB and Synoptix
    Feature
    MYOB
    10.0
    9 Ratings
    31% above category average
    Synoptix
    -
    Ratings
    Inventory tracking10.09 Ratings00 Ratings
    Automatic reordering10.06 Ratings00 Ratings
    Location management10.06 Ratings00 Ratings
    Manufacturing module10.06 Ratings00 Ratings
    Order Management
    Comparison of Order Management features of MYOB and Synoptix
    Feature
    MYOB
    10.0
    7 Ratings
    30% above category average
    Synoptix
    -
    Ratings
    Pricing10.07 Ratings00 Ratings
    Order entry10.07 Ratings00 Ratings
    Credit card processing10.06 Ratings00 Ratings
    Cost of goods sold10.07 Ratings00 Ratings
    Order Orchestration10.05 Ratings00 Ratings
    End-to-end order visibility10.05 Ratings00 Ratings
    Order exception Resolution10.05 Ratings00 Ratings
    BI Standard Reporting
    Comparison of BI Standard Reporting features of MYOB and Synoptix
    Feature
    MYOB
    -
    Ratings
    Synoptix
    6.0
    5 Ratings
    23% below category average
    Pixel Perfect reports00 Ratings5.73 Ratings
    Customizable dashboards00 Ratings5.85 Ratings
    Report Formatting Templates00 Ratings6.44 Ratings
    Ad-hoc Reporting
    Comparison of Ad-hoc Reporting features of MYOB and Synoptix
    Feature
    MYOB
    -
    Ratings
    Synoptix
    7.4
    7 Ratings
    5% below category average
    Drill-down analysis00 Ratings7.37 Ratings
    Formatting capabilities00 Ratings7.07 Ratings
    Integration with R or other statistical packages00 Ratings7.03 Ratings
    Report sharing and collaboration00 Ratings8.24 Ratings
    Report Output and Scheduling
    Comparison of Report Output and Scheduling features of MYOB and Synoptix
    Feature
    MYOB
    -
    Ratings
    Synoptix
    7.7
    5 Ratings
    3% below category average
    Publish to Web00 Ratings7.64 Ratings
    Publish to PDF00 Ratings8.45 Ratings
    Report Versioning00 Ratings7.63 Ratings
    Report Delivery Scheduling00 Ratings7.34 Ratings
    Data Discovery and Visualization
    Comparison of Data Discovery and Visualization features of MYOB and Synoptix
    Feature
    MYOB
    -
    Ratings
    Synoptix
    6.9
    3 Ratings
    6% below category average
    Pre-built visualization formats (heatmaps, scatter plots etc.)00 Ratings7.33 Ratings
    Location Analytics / Geographic Visualization00 Ratings6.82 Ratings
    Predictive Analytics00 Ratings6.82 Ratings
    Pattern Recognition and Data Mining00 Ratings6.82 Ratings
    Access Control and Security
    Comparison of Access Control and Security features of MYOB and Synoptix
    Feature
    MYOB
    -
    Ratings
    Synoptix
    7.6
    6 Ratings
    10% below category average
    Multi-User Support (named login)00 Ratings7.36 Ratings
    Role-Based Security Model00 Ratings8.05 Ratings
    Multiple Access Permission Levels (Create, Read, Delete)00 Ratings7.85 Ratings
    Report-Level Access Control00 Ratings7.35 Ratings
    Single Sign-On (SSO)00 Ratings7.86 Ratings
    Mobile Capabilities
    Comparison of Mobile Capabilities features of MYOB and Synoptix
    Feature
    MYOB
    -
    Ratings
    Synoptix
    6.7
    4 Ratings
    9% below category average
    Responsive Design for Web Access00 Ratings6.74 Ratings
    Mobile Application00 Ratings6.82 Ratings
    Dashboard / Report / Visualization Interactivity on Mobile00 Ratings6.73 Ratings
    Budgeting, Planning, and Forecasting
    Comparison of Budgeting, Planning, and Forecasting features of MYOB and Synoptix
    Feature
    MYOB
    -
    Ratings
    Synoptix
    6.6
    8 Ratings
    20% below category average
    Long-term financial planning00 Ratings6.06 Ratings
    Financial budgeting00 Ratings6.57 Ratings
    Forecasting00 Ratings6.64 Ratings
    Scenario modeling00 Ratings5.94 Ratings
    Management reporting00 Ratings7.88 Ratings
    Consolidation and Close
    Comparison of Consolidation and Close features of MYOB and Synoptix
    Feature
    MYOB
    -
    Ratings
    Synoptix
    7.6
    7 Ratings
    2% below category average
    Financial data consolidation00 Ratings8.26 Ratings
    Journal entries and reports00 Ratings7.03 Ratings
    Multi-currency management00 Ratings7.14 Ratings
    Intercompany Eliminations00 Ratings6.82 Ratings
    Minority Ownership00 Ratings9.12 Ratings
    Local and consolidated reporting00 Ratings7.55 Ratings
    Detailed Audit Trails00 Ratings7.46 Ratings
    Financial Reporting and Compliance
    Comparison of Financial Reporting and Compliance features of MYOB and Synoptix
    Feature
    MYOB
    -
    Ratings
    Synoptix
    7.2
    8 Ratings
    12% below category average
    Financial Statement Reporting00 Ratings7.28 Ratings
    Management Reporting00 Ratings7.78 Ratings
    Excel-based Reporting00 Ratings8.07 Ratings
    Automated board and financial reporting00 Ratings7.37 Ratings
    XBRL support for regulatory filing00 Ratings5.73 Ratings
    Analytics and Reporting
    Comparison of Analytics and Reporting features of MYOB and Synoptix
    Feature
    MYOB
    -
    Ratings
    Synoptix
    6.5
    6 Ratings
    15% below category average
    Personalized dashboards00 Ratings6.46 Ratings
    Color-coded scorecards00 Ratings5.94 Ratings
    KPIs00 Ratings6.73 Ratings
    Cost and profitability analysis00 Ratings6.73 Ratings
    Key Performance Indicator setting00 Ratings6.73 Ratings
    Benchmarking with external data00 Ratings6.73 Ratings
    Integration
    Comparison of Integration features of MYOB and Synoptix
    Feature
    MYOB
    -
    Ratings
    Synoptix
    7.4
    6 Ratings
    9% below category average
    Flat file integration00 Ratings7.33 Ratings
    Excel data integration00 Ratings8.05 Ratings
    Direct links to 3rd-party data sources00 Ratings6.96 Ratings
    Best Alternatives
    MYOBSynoptix
    Small Businesses
    QuickBooks Self-Employed (discontinued)
    Score4.2 out of 10
    No answers on this topic
    Medium-sized Companies
    Accounting Seed
    Score9 out of 10
    IBM Planning Analytics
    Score8.5 out of 10
    Enterprises
    Microsoft Dynamics GP
    Score5.4 out of 10
    Oracle Fusion Cloud Enterprise Performance Management
    Score7.2 out of 10
    All AlternativesView all alternativesView all alternatives
    User Ratings
    MYOBSynoptix
    Likelihood to Recommend
    9.0
    (19 ratings)
    7.5
    (18 ratings)
    Likelihood to Renew
    9.5
    (2 ratings)
    9.1
    (2 ratings)
    Usability
    10.0
    (15 ratings)
    7.2
    (7 ratings)
    Support Rating
    1.2
    (14 ratings)
    9.1
    (2 ratings)
    Implementation Rating
    5.0
    (1 ratings)
    9.1
    (1 ratings)
    Ease of integration
    1.0
    (1 ratings)
    -
    (0 ratings)
    User Testimonials
    MYOBSynoptix
    Likelihood to Recommend
    MYOB
    MYOB is suitable for any business. I have two different businesses and both use MYOB effectively. I use MYOB to pay wages every fortnight for both businesses. This enables me to track exactly what is happening with everyone's different sick leave and holiday entitlements easily. I'm also able to keep track of expenditure and balance and reconcile the accounts against bank statements.
    Incentivized
    Read full review
    Synoptix
    Synoptix has been great for us to allow end users access to the data and information they need to make informed decisions without letting them have full access to all ERP functions. It has also been very easy to create custom reports that meet our needs. It is also nimble enough to create quick reports that are needed with a small turnaround
    Incentivized
    Read full review
    Pros
    MYOB
    • MYOB is very easy to navigate and find the correct information.
    • The Help section was very straight forward and very easy to learn.
    • MYOB was a great accounting tool for our business as it provided the accountant, sales, etc all of the information they need all in one place.
    Incentivized
    Read full review
    Synoptix
    • Easy report building interface with an query interface that allows financial users the ability to conduct complex queries without difficulty.
    • The ability to create reporting that allows us to review in-depth financial review by drilling down into accounts to find transnational data easily.
    • Easily maintained and monitored with simple upgrade installations and end point installation.
    • Great knowledge base for review and trouble-shooting.
    • Highly knowledgeable and easy to work with staff.
    Incentivized
    Read full review
    Cons
    MYOB
    • [In my opinion,] horrible interface to import data
    • [In my opinion,] user interface stuck in 1995
    • Needs improvement to usability
    • Contestant price increases
    • [In my opinion,] new in-app advertising is annoying
    • Countless different windows to do simple tasks like onboard an employee
    • [In my experience,] too slow
    Incentivized
    Read full review
    Synoptix
    • It has a poor install procedure which is not standard. It almost requires copying folders from an existing computer to the new install.
    • The update process is less than desirable. It seems like Compusoft needs to do a better job of testing before releasing updates.
    • The interface is a bit archaic. It looks more like a program from 20 years ago than one used today.
    Incentivized
    Read full review
    Likelihood to Renew
    MYOB
    Our clients seems hesitant to change softwares so I don't see why we wouldn't be renewing with MYOB
    Incentivized
    Read full review
    Synoptix
    There is no question that we will continue to use this product for as long as it's available
    Incentivized
    Read full review
    Usability
    MYOB
    Still 10 for me, I have no problem at all using this toll even it hangs sometimes, I need to log in again to refresh it and it always ask to update the MYOB app. i Also like the security of this platform, iT always asks for the code (before logging in.
    Incentivized
    Read full review
    Synoptix
    It didn't take long to learn how it works and has always been easy to navigate and accomplish all that we have needed. Whenever there have been any issues Synopotix has been great to address them in a timely manner and have always been able to resolve the issues we have had
    Incentivized
    Read full review
    Support Rating
    MYOB
    MYOB accounting software basically works but looks and functions like 1998. Unfortunately their Antipiracy licensing system is absolutely TERRIBLE and verging on nearly criminal, scam! You must CONFIRM each and every data file and when it doesnt work you have to PAY THEM to fix their own file protection issues. If you dont pay them, they hold your data hostage as your company accounting information file becomes READ ONLY. Permantly, unless you pay them. This is a total extortion SCAM. I cannot believe a company can operate this way. With a lot of better product available... i dont imagine MYOB is going to survive much longer.
    Read full review
    Synoptix
    Support does not know much about software solutions. As an example, I have struggled for weeks just to set up LDAP that should be fairly simple.
    Incentivized
    Read full review
    Implementation Rating
    MYOB
    No answers on this topic
    Synoptix
    Good guidance of what steps will halppen.
    Read full review
    Alternatives Considered
    MYOB
    Not even close. Though I will say MYOB had a budget module where Zoho Books doesn't which is one thing severely lacking in Zoho Books. On the other hand, Zoho Books allows for payment processing integration without trying to get a cut from the process whereas MYOB allowed for payment processing but you had to go through their service only and it wasn't cheap.
    Incentivized
    Read full review
    Synoptix
    Synoptix is more oriented to users as their own developers. You do not need to understand any sort of coding or languages. If you are working in financials you just need to know your trial balance. The menus and programing are so user friendly the programming is "kinda obvious"
    Incentivized
    Read full review
    Return on Investment
    MYOB
    • Made a life a lot easier by removing a lot of separate entries in multiple excel sheets
    • With all of the relevant information in one place, it is easier to process payments.
    • Most of the business only have one person doing the payroll compared to the team effort.
    Incentivized
    Read full review
    Synoptix
    • As a reporting tool it has allowed us to make fact based decisions. We have a significant annual cost with relation to our legacy system and Synoptix provides us with the best tool to mine the data that resides in our legacy system.
    Incentivized
    Read full review
    ScreenShots