Lightspeed Creates Integrated Solution for Retailers, Restaurants
Lightspeed, a point-of-sale solutions firm based in Montreal, said today that it is offering an integrated iOS solution for independent retailers and restaurants with financial software provider Intuit QuickBooks Online and workforce management platform Planday. The three firms are members of the Apple Mobility Partner Program.
Lightspeed has seen significant growth since its founding in 2005: The company closed a $166 million Series D investment round in October last year, led by Caisse de dép?t et placement du Québec with an investment of $136 million and included participation from Investissement Québec, iNovia Capital and a credit line from Silicon Valley Bank, the company reported. The total amount invested in the firm reached $292 million.
RELATED STORY: Lightspeed Closes $166 Million Series D Round Investment
Its partnership with Intuit QuickBooks Online and Planday enabled the development of an integrated service offering that streamlines macro services such as business management and financial planning in tandem with more niche offerings, namely employee scheduling and simplifying merchant-to-customer transactions, the company said.
The new solution marries the expertise of each firm: Managing and reporting on all inventory from a single, centralized location is powered by Lightspeed, while the swift and automatic flow of Lightspeed’s sales information into “proper general ledger accounts” is managed by Intuit. More nuanced capabilities such as the scheduling of all employee shifts (based on expected revenues), individual or group communications, and data regarding sales and employees’ time and attendance originates from Planday, which all rolls into Lightspeed and Intuit QuickBooks Online to run payroll, according to Lightspeed. And, the solution holistically consolidates reports.
As its solution is designed with retailers and restaurateurs in mind, its full suite of services can help trim costs, reduce time spent on administrative tasks and improve employee engagement, according to Lightspeed. For customers using iPhones and iPads, Lightspeed’s solution will enable access to its integrated solutions that provide transparency, creating the opportunity to improve customer experience; onboarding for the solution through a cross-company team of customer service representatives, and mobile POS connected to inventory, e-commerce and back-of-house, all according to the firm.
Julian Teixeira, vice president of sales at Lightspeed, said, “This relationship ushers in a new era of ease and innovation for our customers. With this integration, we are delivering one experience to retail and restaurant customers to help them save time, make more money, and improve data accuracy through automatic syncing of all systems. The way retailers and restaurants do business has changed, and a modern-day POS system should support a business owner so they can spend more time focused on their customers.”
For More Textiles News From WWD, See:
Food for Thought: Archroma Offers Plant-Based Dye Options
Cone Denim Will Soon Debut New Sustainable Denim
Applied DNA Sciences to Create Anticounterfeiting Sewing Thread
Sustainable Polymers Popularize Across Textile Markets
Merchandise Returns Accrue Waste, Strain Brands and Retailers
Related stories
Think Tank: Creating New Revenue Streams With Chat
Searching for Shopping, Google Invests in JD.com
Think Tank: Head Up, Eyes Wide Open
Get more from WWD: Follow us on Twitter, Facebook, Newsletter