Australia’s leading business solutions provider MYOB has announced it has purchased a minority stake in Kounta, a high growth start-up that provides cloud-based Point of Sale (POS) solutions. The investment was for an undisclosed sum.
The partnership will see MYOB and Kounta launch an integrated online
solution for MYOB clients that combines accounting and POS later this
year, to make it easier and more efficient for small and medium
businesses to run their stores and manage their business. The solution
will integrate with MYOB’s popular cloud accounting solutions MYOB
Essentials and MYOB AccountRight.
MYOB General Manager, Connected Services, Andrew Birch says the
investment is a key strategic move that will solidify the accounting
software provider’s position in the retail POS, mobile payments and
e-commerce space.
“We’re very pleased to announce our partnership with Kounta, a
successful start-up renowned for its flexible and scalable online POS
solutions. Typical POS systems are made up of a mix of both hardware and
software from different vendors. This will be a total solution from
MYOB and fully integrated to eliminate compatibility and syncing risk
between systems. Seamless integration ensures the data is reliable,
accurate and up-to-date as a client can work from and maintain its
customer and stock information all in one place and in real-time.
“The MYOB-Kounta partnership is integral to our vision of making cloud
accounting easy for every business. The partnership also reinforces
MYOB’s continued commitment to servicing the Australian and New Zealand
SME market,” says Mr Birch.
Kounta Founder Nick Cloete says, “Over the past few years Kounta has
worked hard to re-imagine the way retailers do things at Point of Sale
and it’s great to see such established and innovative companies like
MYOB validating, investing in and supporting this new approach.
“Kounta remains committed to an open platform and will continue to
design and develop intuitive Point of Sale solutions with the ability to
extend functionality through integration partnerships with all other
leading online and mobile services like accounting, payments, loyalty,
inventory, e-commerce and more.”
Founded in 2012, Kounta powers stores around the world and offers the
flexibility of both online and offline access on multiple platforms such
as iPads, Android tablets, Mac, Windows and the existing POS equipment
retailers already have. Its flexible API allows for seamless integration
with MYOB cloud accounting solutions.
MYOB is already implementing a number of initiatives to bring connected
services and solutions to SMEs. This includes popular mobile payments
solution MYOB PayDirect, and an easy-to-use website builder MYOB Atlas.
Each year MYOB invests more than $35 million in research and development
specifically to provide superior solutions that meet the needs of
Australian and New Zealand business owners and their business advisors.
Tuesday, June 10, 2014
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