Published on the 30/09/2015 | Written by Newsdesk
MYOB has strengthened its hand in the New Zealand payroll market by acquiring Hawkes Bay’s Information Management Services…
The NZ$9.7million acquisition marks the third local payroll solutions company to be acquired by MYOB in recent times, following the purchases of PayGlobal in August 2014, and Ace Payroll in May 2015.
MYOB SME Solutions GM James Scollay said the company is investing ‘substantially’ in developing the next generation of online payroll solutions. “We estimate over 30 percent of the New Zealand workforce is paid using MYOB software and we’re committed to providing easy online payroll solutions for all employers – whether they have just one employee or employ over 500.”
Scollay added that payroll is ‘core to MYOB’s offering’.
MYOB CFO Richard Moore said the IMS acquisition will help drive the company’s growth strategies. “The acquisition is in line with our strategy of targeting value-add acquisitions which enhance MYOB’s core business,” he added.
Moore said IMS is provider of payroll solutions to over 10,000 small and medium businesses in New Zealand. “This acquisition will help deepen our relationship with New Zealand clients as we continue to roll out MYOB’s next generation of cloud accounting and payroll solutions.”
IMS was founded by Kevin Atkinson, a prominent Hawkes Bay community leader, in 1983. Atkinson said uniting with MYOB is the natural next step for the business and ‘an exciting outcome’ for its customers.
Scollay said IMS clients can expect the standard of customer service to continue while looking forward to benefitting from innovations in the delivery of payroll. “[They] will soon have access to MYOB’s full range of solutions, including the next generation of online payroll currently being developed following our announcement in May.”
The move to online payroll solutions will boost productivity and reduce complexity for New Zealand employers, he added. “New Zealand has a complex payroll compliance regime, with employers grappling with a range of considerations such as annual leave requirements, KiwiSaver and parental support obligations. In addition, a large number of New Zealand employers pay their staff weekly, which has a big impact on the time spent by employers ensuring each pay is accurate,” Scollay said.
