Vela Software Group acquires Greatsoft

MYOB retains exclusive reseller position for APAC region

Leading business management platform, MYOB, has confirmed it will continue to be the exclusive strategic partner in the APAC region for practice management software company GreatSoft, after it was announced earlier today that GreatSoft has been acquired by Vela Software Group.

GreatSoft offers cloud-based practice management software designed to help accounting firms better manage their employees, clients and work-in-progress - all in one scalable and centralised platform. It also integrates with other leading practice solutions - including MYOB's own practice software - to build a single view of a company's practice.

MYOB successfully acquired the reseller licensing rights for GreatSoft for the APAC market in 2021. Since then, the solution has continued to deliver value and grown in popularity with accounting practices in Australia and New Zealand.

On today's announcement, Portfolio Manager at Vela Software Group - Dylan Webb, said: "We welcome GreatSoft customers and team to Vela Software Group, and look forward to supporting long term growth of the business through access to capital, international networks and sharing of best practices."

General Manager for MYOB Enterprise and Practice, Kim Clarke, welcomed the news of the acquisition.

"GreatSoft is being increasingly recognised as a leading practice management solution for A/NZ accounting practices and we've seen this positive reputation in market translate into both strong interest and uptake, with 79% YoY sales growth in the past 12 months alone," said Kim.

"We congratulate Bruce Morgan and the team at GreatSoft on this special milestone for the business, and we look forward to working with Vela Software Group as they invest in growing the platform and accelerate the delivery of new innovation and capability to our local markets."

GreatSoft CEO, Bruce Morgan, explained the acquisition brings many benefits to the business, its customers, and its people.

"This major investment by Vela Software Group will allow GreatSoft to accelerate our investment in R&D, enabling us to build more of the profit-improvement products demanded by our clients. In addition to this, we now have the resources to grow GreatSoft further into Africa and other global markets.

"Being a Vela company also provides our teams with exciting career growth opportunities and ensures that our clients will continue to receive the fantastic products and services they have come to love."

The addition of new capabilities over the past couple of years have seen practice customers in Australia and New Zealand benefit from increased efficiencies thanks to GreatSoft, including improvements in billing workflows (such as recurring billing) and automated client onboarding.

A new module - Planner - which allows practices to easily create, assign and work on client tasks and integrates with their timesheets, budgets and billing, has also been added.

For more information about GreatSoft visit: https://www.myob.com/nz/accountants-and-bookkeepers/practice-solutions/greatsoft

ENDS

About MYOB

MYOB is a leading business management platform in Australia and New Zealand, providing solutions to streamline key business workflows, from finance and inventory management to employee onboarding and payroll. With a core purpose of helping more businesses with 0 to 1000 employees in Australia and New Zealand start, survive and succeed, MYOB offers a richly curated, integrated and flexible platform that enables a business to make better decisions, unlock its full potential and confidently grow. For more information visit myob.com or follow MYOB on LinkedIn.

About GreatSoft

Headquartered in Cape Town, South Africa, GreatSoft has more than two decades of industry experience and thought leadership, that have made them one of the leaders in Practice Management and CRM for accountants CRM. With expertise in tax, Company Secretarial, Project Planning and payroll for accountancy firms, they have a wealth of experience in document management and profit improvement systems through powerful CRM capability and extensible platform.
www.greatsoft.co.za

About Vela Software Group

Vela Software Group is a global provider of software solutions to several vertical industries. As an Operating Group of Constellation Software, Vela acquires, manages, and builds specific software businesses which provide specialised, mission-critical software solutions. Vela companies invest in becoming leaders in their industries and to better serve their customers. The Group helps companies improve their operations, grow through organic initiatives, and seek acquisitions that can strengthen their market position.

velasoftwaregroup.com