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Cantaloupe’s Remote Price Change (RPC) Saves Operators Time and Money During These Unprecedented Times
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Cantaloupe, Inc. (NASDAQ: CTLP) has launched its Remote Price Change solution, part of the Seed™ platform, aimed at improving price management for vending operators. This innovative tool allows for remote price adjustments across multiple machines, helping businesses adapt to rising supplier costs and inflation. The capability reduces the average cost of manual price changes, previously estimated at $50 per machine, and significantly cuts down required labor. Notable operators have reported time and fuel savings, enhancing profitability amidst current economic challenges.
Positive
Remote Price Change allows for instant price adjustments, saving time and reducing costs.
Operators can dynamically change prices based on supplier costs and trends, helping maintain profitability.
Reported average cost savings of $50 per machine for manual price changes.
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Remote Price Change, Part of the Cantaloupe Seed™ Platform, Helps Vending Operators Manage Prices on Multiple Machines from Anywhere
MALVERN, Pa.--(BUSINESS WIRE)--
Cantaloupe, Inc. (NASDAQ: CTLP), a digital payments and software services company that provides end-to-end technology solutions for the unattended retail market, is transforming the way vending operators manage price changes with its Seed™ platform and Remote Price Change solution.
Cantaloupe's Remote Price Change, part of the Cantaloupe Seed™ Platform, helps vending operators manage prices on multiple machines from anywhere, saving time and money for the operator. (Photo: Business Wjre)
Remote Price Change (RPC) saves operators time and money by enabling them to manage prices for products in their machines remotely using Cantaloupe’s Seed software. With RPC, customers can react quickly to supplier price increases and dynamically change prices based on approaching expiration dates and seasonality trends — all remotely. With the addition of the Remote Price Change compatibility report, customers can easily identify legacy machines that may require firmware updates, ePort cashless devices, or board upgrades to enable RPC. And with RPC, fewer staff are required to make and verify price changes.
Seed customers are already reaping the instant benefits of RPC as they automate their operations and better manage their pricing to address multiple challenges at once from inflation, increased supplier costs, and labor shortages.
“We’ve been using Cantaloupe’s RPC for over a year on 1,500 machines,” said Joseph Barnett, branch manager with Refresh Sips & Eats in Mississippi. “Our goal is to deploy RPC on 500 more machines in the next month and 1,000 more by the end of this year. With inflation going up everywhere and prices changing, we are using RPC to make overnight price changes when we need them. Most of our machines are one to two hours away from our headquarters, so the time savings and fuel savings of being able to make price changes remotely is significant. Even with the additional cost of RPC, it’s a win-win for us to have this solution as part of our system.”
“The Times They Are A-Changin’ (a song made popular by Bob Dylan) has never rung truer than these unprecedented times the world is facing today,” said Ravi Venkatesan, COO of Cantaloupe. “Businesses are experiencing a sharp rise in the cost of goods, with an 8.5 percent increase in just over the last 12 months, according to the U.S. Consumer Price Index (as of March 2022), which are all driving the need for operators in the vending industry to make more frequent price changes on their products. With our Remote Price Change solution, changing those prices across machines has never been easier or more cost effective. We’re excited to see operators take advantage of this easy-to-use tool to preserve their margins and stay profitable in the face of rising costs and labor challenges.”
Prior to implementing RPC within Seed, an operator could incur an average cost of $50 a machine to manually change prices, including the need for a skilled technician and sometimes up to 45 minutes per machine to make those changes. On top of that, operators scheduling techs for each route must account for not only the travel time to each location but also the cost of fuel to get there.
For Sheehan Brothers Vending, which operates in southwest and central Ohio with 23 routes, RPC has been a huge time saver for their route drivers and has increased profits. “We’ve found that RPC is pretty smooth, easy, and straightforward to operate,” said Patrick Sheehan, president of Sheehan Brothers. “Also, the less time our drivers have to worry about anything other than servicing accounts, the better. Taking the responsibility for price changes ourselves makes us more money because we’re getting the increases made faster, and it keeps the driver from working 50 hours a week.”
Remote Price Change is the latest innovation that delivers on Cantaloupe’s mission to provide the best operational and payment platform for unattended retail that is quick to implement, easy to integrate, flexible to operate, and provides valuable, real-time customer insights and rapid ROI. To learn more about Cantaloupe and the Seed platform with RPC, visit cantaloupe.com/software-seed-pro. To understand how much time and money RPC could save for your vending business, visit https://www.cantaloupe.com/rpc-calculator/.
About Cantaloupe, Inc.
Cantaloupe, Inc. is a software and payments company that provides end-to-end technology solutions for the unattended retail market. Cantaloupe is transforming the unattended retail community by offering one integrated solution for payments processing, logistics, and back-office management. The company’s enterprise-wide platform is designed to increase consumer engagement and sales revenue through digital payments, digital advertising, and customer loyalty programs, while providing retailers with control and visibility over their operations and inventory. As a result, customers ranging from vending machine companies to operators of micro markets, gas and car charging stations, laundromats, metered parking terminals, kiosks, amusements, and more can run their businesses more proactively, predictably, and competitively. To learn more about Cantaloupe, Inc., visit cantaloupe.com, the Cantaloupe’s Blog, listen to the podcast UR Tech Insiders, or follow via LinkedIn, Twitter, Facebook, Instagram or YouTube.
What is the Remote Price Change solution by Cantaloupe, Inc.?
The Remote Price Change solution allows vending operators to manage product prices remotely across multiple machines, facilitating rapid adjustments in response to supplier price changes or market conditions.
How does the Remote Price Change solution help vending operators?
It saves time and money by reducing the need for on-site price adjustments, allowing operators to respond quickly to changes in supplier costs.
What is the significance of the Seed™ platform for Cantaloupe, Inc.?
The Seed™ platform integrates technology solutions for the unattended retail market, enhancing operational efficiency and profitability for vending operators.
How much can operators save by using the Remote Price Change solution?
Operators can save around $50 per machine on average by eliminating manual price changes.
When was the Remote Price Change solution launched?
Cantaloupe, Inc. announced the launch of the Remote Price Change solution on June 8, 2022.
