Reckon says the release is set to further fuel its “cloud-first game” and follows its acquisition of the perpetual licence to the source code from Pose, a leading Israeli provider of flexible, affordable and user-friendly web-based POS systems, early last year.
Sam Allert, managing director ANZ at Reckon, says the latest software development further delivers on Reckon’s long-term strategy and commitment to helping small business owners work better and reap better business outcomes – and at its crux, demonstrates another major leap forward in the company’s ongoing vision to ‘cloudify’ its core accounting offering.
“The integration of a POS feature is a natural progression for Reckon, as we continuously look to provide our customers with a more fully integrated platform and one-stop shop with a complete suite of solutions.
“In addition, small business owners demand mobility; they want to be able to run their operations anytime, anywhere, online or offline – and that is exactly what we are facilitating. Reckon Cloud POS will allow our customers to enjoy a seamless transactional experience by streamlining reporting, automating tax obligations and ultimately, ensuring an uninterrupted flow of data between their POS and accounting system.”
Allert says with more than 1 in 10 trading businesses in Australia requiring mobile and over-the-counter transactions, this represents robust growth opportunities for Reckon as a business.
He notes that the global POS terminal market was worth approximately $70.17 billion in 2016 and is projected to rise at a compound annual growth rate of 11.5% through to 2025. This is driven by the uptake of wireless and mobile POS terminals amongst small and medium-sized businesses within the retail and hospitality sectors.
Reckon Cloud POS is fully integrated with Reckon One and Reckon Accounts Hosted, and the software is also available as a standalone application.