Reckon is looking to enhance its core capabilities by acquiring perpetual licenses to the source code for two cloud based applications.

The source codes are from Pose, a leading Israeli web-based point of sale (POS) system provider, as well as MicroManager, a mobile-based time tracker established in New Zealand.

With Pose Technology's cloud-based POS system, businesses are enabled to track sales, manage inventory, reward customer loyalty, manage employees and run reports on any device.

Clive Rabie, group chief executive officer of Reckon, says 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. 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,” he explains.

“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.”  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 potential billable hours loss,” adds Rabie.

“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,” he says. “Reckon works with the top 200 accounting firms in Australia, and they all want to be more mobile, agile and flexible.

Rabie explains that the reality is there are now more people working from anywhere and on any device, so an app like this is really going to assist with how the Australian workforce is shifting and evolving.

“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,” he adds.

“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.”  Both applications will be independently branded as Reckon products and rolled out within the first half of 2017 in Australia and New Zealand.