The investment preceded a joint launch of an integrated online solution that combines accounting and POS, due “later this year”, the email said.
The new product, called MYOB Kounta, would be offered to new clients interested in a retail solution from MYOB, the company said. MYOB will provide migration tools for retailers who wanted to move from RetailBasics or RetailManager to Kounta.
The solution will integrate with MYOB’s MYOB Essentials (browser-based cloud program) and MYOB AccountRight Live (desktop application and cloud database). It will complement existing MYOB RetailBasics and RetailManager programs.
“The investment is one of our key goals for 2014 and will allow us to solidify our position in the retail POS, mobile payments and e-commerce spaces,” MYOB said in the email. “The MYOB Kounta partnership is integral to our vision of making online accounting easy for every business.”
MYOB planned to reveal more details about the development path for Kounta and its retail software at its Partner Connection conference held on 27 August on the Gold Coast.
BoxFreeIT has contacted MYOB for more information. Update to follow.