MYOB is a leader in digital business solutions with +1.2 million customers across Australia and New Zealand.

In the hyper-competitive online accounting solutions category, MYOB is constantly looking to differentiate their customer experience with cutting-edge technologies. Powered by Sypht AI, MYOB’s new In Tray and Capture App has transformed how customers capture critical data from receipts and invoices.

MYOB transparent

What was the Challenge?

An ongoing priority for MYOB is helping customers save time and reduce administration overheads by capturing transaction data at its source. “This data was usually manually entered at a later point in time, increasing risk of inaccuracy, compliance challenges and an additional administration burden of receipt capture on SMEs,” says Dale Dixon, head of product for small business, MYOB.

Solution

Sypht were able to rapidly deploy a Proof of Concept on the MYOB platform in order to provide a head-to-head evaluation with other data extraction providers. “We looked at a number of Sypht’s competitors and Sypht won hands down in both performance and accuracy,’ says Michael Toose, Senior Product Manager, MYOB.

Sypht worked closely with the MYOB Development team to ensure that the solution could be tested and available to all MYOB customers as quickly as possible. The solution includes ai-driven self-learning capability with template-less OCR which enables the system to continually improve.

“Sypht has a great API, and it was easy to work with and we did it in record time,” said Toose. “What did it for us with Sypht was performance and reliability. Compared to other APIs we’ve worked with, Sypht is roughly twice as fast and twenty five percent more accurate.”

What did MYOB use?

Platform Features

Transport
Extract

Results

The launch of the app on the MYOB app store was an immediate success. “Our Capture App has been downloaded by thousands of customers and we’ve had millions of receipts uploaded in that time,” says Kim Owen-Jones, Head of Go To Market. “It enables them to really simply take a photo of their receipt and it automatically transfers in to the In tray in our software solutions.”

“The feedback on MYOB Capture App has been really strong,” continues Owen-Jones. “Not just from SMEs but also from our accountants and bookkeepers. The benefits for them are huge, the ability for that receipt to be captured and in the system, no double handling, no re-keying, the removal of human error, it’s a real strong benefit for all our practices out there. We’ve seen great increases to our performance and ultimately our customer experience.”

Improvement in customer experience
Sypht's integration into the Capture App resulted in an immediate increase in customer satisfaction by 10 points

Simple integration process
The Sypht API was implemented and up and running in a matter of days

Efficiency gains for MYOB customers
Takes away the burden of receipt capture for SMBs

Improved performance and reliability
Sypht's API is roughly twice as fast and twenty five percent more accurate than other providers

Working with Sypht has been a really easy way for us to improve our customer experience.

Kim Owen-Jones

Head of Go-To-Market, MYOB

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