Accounting software provider makes 2 key acquisitions

Accounting software provider makes 2 key acquisitions

One accounting software provider has acquired two cloud-based applications, one for SMEs and one for accountants, in a bid to 'cloudify' its core accounting offering.

Yesterday Reckon announced its acquisition of perpetual licences to the source code for two cloud-based applications to enhance its core capabilities.

Reckon said the move came on the back of growing customer demands for cloud and mobile enablement, in an effort to drive greater efficiencies and productivity gains.

The first source code is from Pose, a leading Israeli web-based point of sale (POS) system provider.

The cloud-based POS system enables small business retailers to track sales, manage inventory, reward customer loyalty, manage employees and run reports on any device.

Reckon group CEO Clive Rabie said that enhancing the company’s retail capabilities was a “logical next step”.

“The days of being tied to the cash register and fumbling about with dollars and coins are moving behind us,” Mr Rabie said.

“We are already seeing more retailers, especially in the food and beverage space, taking orders on iPads, and that’s exactly what we are facilitating. There needs to be a good and uninterrupted flow of data between a business’ POS and accounting platform, so as to enable a seamless transactional experience.”

The second acquired source code is from MicroManager, a mobile-based time tracker established in New Zealand.

The MicroManager technology offers a cloud- and mobile-based timesheet application that enables accountants to capture time on the go.

“Accountants bill by the hour, so every minute spent on administrative tasks equates to [a] potential billable hours loss,” Mr Rabie said.

“As workforces become more mobile, we are also seeing a growing demand from professionals to capture time on the move. This is especially so with the Millennials, who have become so reliant on their smartphones that soon the lines between work and personal devices will likely cease to exist.”

Both applications will be rolled out in the first half of 2017 in Australia and New Zealand.

Accounting software provider makes 2 key acquisitions
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