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MYOB takes stake in POS start-up Featured

Accounting software vendor MYOB has taken up a minority stake in Australian Point-of-Sale start-up Kounta and will offer an integrated accounting and POS solution to the market.

No details of the transaction have been disclosed but MYOB says its investment in Kounta will facilitate the launch later this year of an integrated online solution for its clients that combines accounting and POS.

MYOB General Manager, Connected Services, Andrew Birch said 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 startup 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.”

Nick Cloete, founder and CEO of Kounta, said the partnership will provide MYOB clients an “easy-to-use, efficient online platform that combines accounting with their POS.”

According to Cloete, the combined accounting/POS integrated solution will make it easier and more efficient for small and medium businesses that use MYOB software to also run their stores. The solution will integrate with MYOB’s cloud accounting solutions MYOB Essentials and MYOB AccountRight.

Kounta also currently partners and integrates with PayPal, Tyro, Collect Rewards, Swarm and Deputy.

“The growth of Kounta as a startup has been based on our flexible, scalable, affordable cloud-based software,” Cloete said.

“Over the past few years, Kounta has worked hard to re-imagine the way all different types and sizes of stores manage both online and offline transactions and it’s great to see such established and innovative companies like MYOB validating, investing in and supporting this new approach.

“Kounta lets merchants focus on customer service and experience, and also easily connects with other add-ons that retailers already use. This gives them access to real-time reporting and centralised management that not even a prohibitively expensive legacy solution could offer.

“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 platforms and more.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

 

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