The AI revolution reshaping Australian small businessesIn partnership withMany small business owners spend hours on administrative and compliance tasks, but these new AI tools can help ease the burden.Katrina SichlauSmall and medium enterprise (SME) owners across Australia are spending countless hours each week on administrative and compliance requirements, yet only four in 10 are using dedicated AI tools to help alleviate the burden.This provides a significant opportunity for local innovators to create real-world solutions. For MYOB, one of Australia’s leading technology companies, that has meant reimagining the way SMEs work with their business software, deeply integrating AI into its products to support customers with repetitive tasks.“At MYOB, we see AI as a strategic evolution, not just a product upgrade,” MYOB chief executive Paul Robson said.“We have applied AI to one of the most consequential workflows a business faces – business activity statements (BAS). Now we’re extending that model across other areas where compliance, finance and decision-making intersect, ultimately changing how business gets done.”MYOB CEO Paul Robson says AI tools can help small businesses save time on compliance tasks.Many small businesses simply didn’t know where to start when it came to AI adoption, Mr Robson said, but given how much time SMEs spend on administration, bookkeeping and compliance tasks, AI is providing a unique opportunity to seamlessly support their workflows.“According to the National AI Centre, 40 per cent of Australian SMEs are currently using AI, and our latest MYOB Business Monitor found only 11 per cent have an AI policy so their team understands when and how they can use AI,” he said.“We have been part of the fabric of the business community in Australia and New Zealand for generations, and AI provides an incredible advantage for SMEs that are often short on time and resources. We’re not only putting AI into software, we’re putting it to work for small- and medium-sized businesses.“In practice that means reducing the administrative burden that slows businesses down, from compliance preparation and reconciliation to invoice reminders and business insights. For businesses, the benefit is clear: less time spent on manual work, faster access to insights, and greater confidence in areas that are often complex and time-consuming.”We Are Technical director Ben Shannon has been using MYOB’s AI tools alongside existing processes at the Melbourne-based technical events production company.“What has impressed us most is how quickly the tools are improving,” Mr Shannon said. “Tasks that previously required manual review are becoming more accurate and efficient, allowing us to spend less time on administration and more time focusing on customers, projects and business growth.”Removing the administrative burden from BAS preparationPreparing quarterly BAS is one area where AI tools can make a considerable difference for SMEs.MYOB’s AI BAS is the first agentic BAS support tool and, according to Mr Robson, is a prime example of how new technology can target repeat compliance admin work.“We see AI as most useful when it is applied to the specific pain points that are common across many businesses,” he said. Spending time on tax compliance can put pressure on small businesses.“For example, 26 per cent of respondents in our latest MYOB Business Monitor said time spent meeting tax compliance obligations causes significant pressure.“AI BAS is ‘always on’ in the background, reviewing transactions, flagging anomalies and suggesting GST treatments so lodgment becomes a final check rather than a quarterly scramble.”Mr Shannon and his team have experienced the benefits firsthand.“AI streamlines the preparation process, which means less time spent gathering information and more time reviewing the results. Rather than replacing the process, it helps us get to the review stage faster and with greater confidence,” he said.Making reconciliation a breezeSubway franchisee owner and Balance Accounts and Advisory principal Suresh Patel said by implementing another of MYOB’s AI tools, Smart Reconciliation, he was saving five to six hours a week in administration.“That spare time I can spend in my business on the floor to help staff with extra training, and improve stock control, the customer experience, and profitability, rather than doing manual work that is not productive,” he said.Another benefit of using AI in business compliance is that it can pinpoint issues, as well as compile real-time data more efficiently than humans can.“The real opportunity with AI is not just faster compliance, but doing it better and earlier,” Mr Robson said.Subway franchisee owner and Balance Accounts and Advisory principal Suresh Patel said using AI tools saves him significant amounts of time.“AI can make a material difference by surfacing anomalies, organising data, matching transactions and helping to create cleaner, review-ready outputs from day one rather than at the last minute.”Mr Patel said MYOB’s AI tool recently flagged an error he had overlooked.“The AI picked up an incorrect account code, which I had missed. It also helps to separate GST sales and non-GST sales, as it’s able to match the transaction with the type of sale perfectly,” he said.A new eraDespite these rapid technological developments, human insight still plays a crucial role.“MYOB has always been designed to work alongside our customers and their advisors. Our design principle remains human-in-the-loop review, particularly at the highest-stakes moments, so customers and advisors can see what the AI did, review it deliberately and proceed using their own considered judgement,” Mr Robson said. Mr Shannon described trust in AI as “a sliding scale”. “A good analogy is modern commercial aircraft. Much of the flying process can be automated, but we still expect trained pilots in the cockpit. That’s how I view AI in business: the technology is incredibly capable at handling routine tasks and processing large amounts of information, but human oversight remains essential. AI does the heavy lifting, while people provide judgment, context and accountability.”So, after 35 years of supporting Australian businesses, MYOB’s strategic AI evolution is signalling the beginning of a new era and a smoother path for the nation’s small business owners.Learn more about MYOB’s AI tools here.