MYOB enhances cloud offering with minority stake in Kounta

10 June 2014

MYOB enhances cloud offering with minority stake in POS start-up, Kounta

MYOB & Kounta to launch integrated online accounting & POS solution for SMEs

New Zealand’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 New Zealand and Australian 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 New Zealand and Australian business owners and their business advisors.

For MYOB product information, research results, business tips, discussions, client service and more visit the MYOB website, or its blog, LinkedIn, Twitter, Facebook, Instagram and YouTube sites.

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About MYOB
Established in 1991, MYOB is New Zealand’s leading accounting software provider. It makes life easier for approx. 1.2 million businesses across New Zealand and Australia, by simplifying accounting, payroll, tax, practice management, CRM, websites, job costing, inventory, mobile payments and more. MYOB also provides ongoing support via many client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly in cloud computing solutions, and now spends NZ$35+ million annually on research and development. For more information, visit myob.co.nz.

About Kounta
Kounta is a flexible and scalable Online Point of Sale Software System. Quick to get started, Kounta is easy to use yet powerful enough to run any store, on anything, both online and offline. Add, sell and update your products and inventory, centralise your management and reporting, connect to other online and mobile services, reward loyal customers with points and rewards and invite your team to your store to get involved, all in real-time. No downloads, no software and no setup fees and always up to date with new features. For more information, visit kounta.com.

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