It's the AI-powered compliance engine of the future

Why MYOB has partnered with Silverfin – and what’s in it for you!

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It's the AI-powered compliance engine of the future

Why MYOB has partnered with Silverfin – and what’s in it for you!

Next-gen workpapers and financial reporting in the cloud

We’ve partnered with Silverfin to bring you an AI-powered workpaper and financial reporting platform designed to unlock capacity through seamless automation, supercharge your team with intuitive standardised tools, and deliver exceptional client experiences with proactive data-driven insights.

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Tailored for accounting practices in Australia

MYOB's local accounting expertise joins forces with Silverfin's cutting-edge technology. This ensures our suite of tools is fully optimised for your practice.

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Available in 2025 for early adopters

At the start of 2025, we’ll be ready to work with a select pool of early adopters. Register your interest below to stay up to date with product news and timelines.

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Work faster and smarter

Automate tedious manual tasks, eliminate human error, and save valuable time. With it, your entire team can work more consistently, collaboratively, and efficiently.

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AI is powering the future of accounting

AI tech gives you even more precise and insight-driven financial tools. Together with Silverfin, we’re setting new standards in financial reporting and helping enable your advisory services.

 

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The latest from the MYOB x Silverfin partnership

In an exciting step forward for the accounting industry, MYOB recently announced its partnership with Silverfin to deliver an AI-powered financial reporting and compliance solution for Australian accounting practices.

Discover more on the strategy behind MYOB’s partner approach and get a sneak peek into the MYOB x Silverfin roadmap. 

This partnership is a pivotal step for accountants, and we look forward to keeping our community informed as we deliver this innovative solution.

 

Development update

A look into what we've been working on

November 2024

Here's a look at one of the key features we've been working on: the connected workpaper. This screenshot provides a glimpse into how the workpaper will look and feel within the platform.

Silverfin Workpaper - AU Company

The team have been busy designing the look and feel of the core workpapers for Australian companies and will be working with Australian practices to get feedback.

**Note the above previews are a work in progress. Product interface is subject to change

September 2024

The team is focused on developing Special Purpose Financial Reports and its required key workpapers, starting with Australian companies.

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We're also building an integration between our small business accounting software, MYOB Business, to bring live, transaction-level data in the Silverfin Data Hub. Plus, an integration with MYOB Practice to sync client contact information to the clients in Silverfin.

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**Note the above previews are a work in progress. Product interface is subject to change

A look into Silverfin's UK version

To give you a better understanding of how the platform functions and operates, below is a demonstration of Silverfin's UK version.

Whilst this demo showcases the UK version, rest assured that the functionality and user experience will be the same in our localized version. The core functionality and capabilities you see in the video reflect how the platform would work for your firm with the key difference being the localized content tailored to for the Australian market.

All your practice needs. All in one place.

Work seamlessly with all leading accounting software
Bring data seamlessly into your workflows with live data syncs to leading cloud accounting software including MYOB and others, so you have the same efficiency in your workflows no matter what software your clients’ use.

Automate routine and time-consuming tasks
Automatically populate your workpapers and financial reporting with live client data, so you’re completing multiple jobs at the same time and always working with the latest data.

Improve accuracy and reduce errors with AI you can trust
AI Assistant continuously analyses client files to detect anomalies, flag inconsistencies, and ensure that financial data is accurate and up to date, which saves hours on manual checking.

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All your practice needs. All in one place.

Work seamlessly with all leading accounting software
Bring data seamlessly into your workflows with live data syncs to leading cloud accounting software including MYOB and others, so you have the same efficiency in your workflows no matter what software your clients use.

Automate routine and time-consuming tasks
Automatically populate your workpapers and financial reporting with live client data, so you’re completing multiple jobs at the same time and always working with the latest data.

Improve accuracy and reduce errors with AI you can trust
AI Assistant continuously analyses client files to detect anomalies, flag inconsistencies, and ensure that financial data is accurate and up to date, which saves hours on manual checking.

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Media Release: MYOB reveals new, exclusive deal with Silverfin

Read our media release to find out how we’re improving the efficiency, competitiveness, and profitability of compliance and reporting services for accounting practices in Australia.

Discover eDM - Q3 Ent v2

Deloitte Sweden transforms its data processes and insights

"During these three years, we have made tremendous progress, not just on the tax compliance side but also on how we are utilising the data.  

Today we are able to think a lot more about how we can use data to provide additional insights or opportunities to our clients, not only in the tax compliance side but also in other areas."

Jonas Ramber, Lead Corporate Income Tax Compliance Partner, Deloitte Sweden

Is your practice ready for AI?

Generative AI is changing the game for accounting. MYOB’s Product Marketing Lead, Liam Hindle, writes about the impact of AI in the accounting industry in the present day, as well as in the future.

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Stay up to date with updates on this exciting partnership

Submit an expression of interest to be among the first to know about updates and events.

Frequently Asked Questions

Who is Silverfin?

Silverfin is at the forefront of financial technology in Europe, revolutionizing the sector with its cloud-native platform that leverages artificial intelligence to enhance financial reporting and advisory services. 

Why is MYOB partnering with Silverfin?

By partnering with Silverfin, MYOB will combine their deep understanding of the accounting profession & existing cloud products with Silverfin’s technological prowess. MYOB is set to deliver an unparalleled, fully integrated, cloud-native platform that will transform the way accountants work. 

MYOB will be able to offer a pathway from AE/AO Client Accounting to a cloud-native solution.

How will the new partnership enhance MYOB’s product offerings?

MYOB will integrate Silverfin’s cutting-edge, automated financial reporting, work papers that connects with the leading accounting software providers, and AI powered business advisory tools. Offering a comprehensive, cloud-based solution that accounting practices require to thrive in today’s competitive digital age.

Are there any new features I should be particularly excited about?

Yes, the new platform will introduce several innovative features including: 

Data Hub: Centralised store of data which connects with the leading accounting software providers, allowing you to work in one platform whatever the data source. It maps your client’s data to a standard chart of accounts in just a matter of minutes. Once standardised, your workflows, reconciliations, reporting can be automated saving valuable time. Eliminating the time wasted manual importing or exporting file data. 

AI Assistant: In-built AI tool that performs a fully automated review of your client files to spot unexpected values in balances, transactions, reconciliations etc. Time-intensive and repetitive tasks can be completed quicker. This means accountants can spend more time on more profitable work. 

AI Insights: In-built data and analytics tool that interrogates data for all your clients, at the client or portfolio level to spot trends, benchmark your clients and identify advisory services. 

In-product collaboration: Work on the same client file, at the same time, from anywhere. Send messages or tasks to colleagues. Tag your manager when it’s time for review. See at a glance all outstanding work on any client engagements. No more endless email trails, missing attachments or deciphering scribbles on printouts. No switching in and out of client files and applications. 

Can I still use my existing MYOB products?

MYOB customers can continue to use your existing AE/AO Client Accounting (MAS accounts, AOGL, Reporter, and Assets) or Hosted Compliance products. Silverfin allows for more choice and the opportunity to adopt a leading cloud native solution when your practice is ready.

What kind of practice will this solution appeal to?

The new platform will be a valuable solution for ambitious and growing practices that handle a mix of client files, are missing a robust workpapers solution, or need tools to help take care of the admin-intensive compliance tasks - and instead, focus on delivering/growing their advisory services.

When will the new solution be available?

An early adopter program will be ready in early 2025 and the product will be generally available in Australia in the second half of 2025. The plans for New Zealand are yet to be finalised.

Practices can register their interest to stay informed on new developments relating to this announcement.