In October 2014, MYOB invested in a leading provider of cloud business management software called Acumatica and branded as MYOB Advanced in Australasia. This product empowers small and mid-sized businesses to unlock their potential and drive growth, as well as delivering a suite of fully integrated business management applications such as Financials, Distribution, CRM and Project Accounting – all powered by a robust and flexible platform.
ERP systems have long functioned like a data version of Fort Knox – they contain a wealth of useful information, but accessing has been almost impossible. Until now.
In simple terms, OData is a ‘live’ data feed directly from the MYOB Advanced using Generic Inquiry screens which is updated in real time into tools such as Excel.
It is beneficial to clients as it enables them to use a software that they are already used to, in which they can easily create their own reports based on real time data.
According to this article on the OData.org blog, one of the beautiful things about this setup is that the Generic Inquiry screens are already built-in to the Acumatica security setup. If a user has access to the Generic Inquiry screen from the regular Acumatica menu, then they also have access to the OData connection. Traditional ERP systems often rely on expensive Data Warehouse solutions to present their data to end users. These Data Warehouse solutions have a separate security setup and reconciling which users have access to certain data in the ERP application vs the Data Warehouse can be a real nightmare.
Since OData can be easily consumed by Microsoft BI tools like Power Query and Power Pivot, end users can create their own multidimensional models. Then they can present the information as a dashboard in Power BI. This replaces the need for a data warehouse in the case of many small and medium-sized businesses. Acumatica, combined with OData and Microsoft BI, opens up the world of ERP data analysis to the business users, not just the IT department. (http://www.odata.org)
Take a look at the demonstration from the Microsoft Build Conference where the keynote speech was about OData that Acumatica (MYOB Advanced) is using in their new release.
Acumatica and Microsoft Power BI Intergration in #Build2015 Keynote:
This video demonstrates using Excel to display OData from Acumatica Cloud ERP: