Accounting software provider Reckon has acquired perpetual licenses to the source codes for the Pose POS system and the MicroManager time tracking system.
While both of these cloud-based products will continue to be offered by their creators, Reckon will offer them in Australia and New Zealand under its own brand.
Reckon group CEO Clive Rabie noted the growing use of cloud-based POS systems.
"The days of being tied to the cash register and fumbling about with dollars and coins are moving behind us," he said.
{loadposition stephen08}"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 addition of POS was a "logical next step" for Reckon, Rabie said.
Designed for retailers, the Pose POS system can track sales, manage inventory, reward customer loyalty, manage employees and run reports on any device, in addition to handling the actual transactions.
The acquisition of MicroManager time-tracking technology is primarily aimed at the accounting firms among Reckon's customers. "Reckon works with the top 200 accounting firms in Australia, and they all want to be more mobile, agile and flexible," said Rabie.
"Accountants bill by the hour, so every minute spent on administrative tasks equates to potential billable hours loss," he explained.
"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 smart phones, that soon the lines between work and personal devices will likely cease to exist.
Reckon has an ongoing plan to expand its fully-integrated suite by acquiring or partnering with other software companies.
"Both acquisitions are highly targeted. We took the time to find the right partners that shared our vision and we found that in Pose and MicroManager," said Rabie. "Ultimately, it's all about delivering on what our customers want - and that's increasingly cloud-enabled applications, to help them work better and reap better business outcomes."
Reckon-branded versions of Pose and MicroManager will be launched by mid-2017.