Food Express Implements Cantaloupe Inc.’s Seed® Platform and Sees Significant Improvements Within First Six Weeks

Rhea-AI Summary

Cantaloupe Inc. (NASDAQ: CTLP) has announced that Food Express has implemented its Seed® Pro and Seed Office® platforms, resulting in a 97% increase in average collections per visit. This partnership aims to streamline operations and enhance inventory management across multiple branches. Key metrics post-implementation include a 30% reduction in vending service visits and a 75% increase in average fills within six weeks. Cantaloupe emphasizes that this implementation facilitates operational efficiency for high-growth retailers.

Positive

• 97% increase in average collections per visit
• 30% reduction in vending service visits
• 75% increase in average fills
• Operational efficiencies achieved through Seed platform

Negative

• None.

Customer Optimizes Its Business with Cantaloupe Inc.’s Seed® Pro and Seed Office® Solution, Sees 97% Increase in Average Collections Per Visit

MALVERN, Pa.--(BUSINESS WIRE)-- Today, Cantaloupe Inc., (Nasdaq: CTLP) (“Cantaloupe” or the “Company”), a digital payments and software services company that provides end-to-end technology solutions for the unattended retail market, announced that Food Express has implemented its Seed Pro and Seed Office platforms, with added features to support its deliveries, merchandising, and micro markets. Through the agreement, Food Express is utilizing Cantaloupe’s platform to manage all lines of business across multiple branches, helping operators streamline operations and scale more efficiently.

Founded in 1985, Food Express is one of America’s fastest growing food service companies in the Southeast. A family-owned business, the company is headquartered in Greensboro, North Carolina and has four branches in Raleigh, Charlotte, Spartanburg, and Atlanta, Georgia. Food Express is also a USConnect® affiliate, supporting thousands of clients with its fresh food vending machines, Bistro to GO!® Markets, customized dining, and office coffee services.

“Like many businesses that grow quickly, we started to experience critical challenges in managing multiple branches under one streamlined set of processes. We were also concerned about how the workload of transitioning to a new solution would affect employee morale,” said Hugh O’Neill, President, Food Express. “We found Cantaloupe to be the perfect partner as it quickly addressed these concerns by demonstrating to our employees how Seed would make their lives easier. Implementation was completed in record time as the Seed platform integrated seamlessly into our VMS, and daily communication supported the project plan and key next steps for onsite teams at multiple branches. We immediately saw positive results and couldn’t be happier.”

According to Food Express, implementing Seed enabled the company to:

• Eliminate hours of manual work downloading, manipulating data, and consolidating it into one report
• Fuel simple cross-branch alignment on standard processes
• Generate more accurate data through dynamic scheduling, significantly reducing bring-backs and only servicing accounts when they need it
• Improve inventory management, with drivers adopting the easy-to-use Seed Mobile app for in-field management

Food Express has reported a 30 percent reduction in vending service visits, a 75 percent increase in average fills and a 97 percent increase in average collections per visit, all within just six weeks of implementation. To learn more about this implementation, you can access the case study here.

“We are excited to partner with Food Express, as the company is a perfect example of a high-growth retailer that can quickly benefit from the operational efficiencies the Seed platform brings to the unattended retail market,” said Sean Feeney, chief executive officer, Cantaloupe, Inc. “Our goal is to ensure our customers can get up to speed as quickly as possible. Seed provides operational simplicity and incredible cost savings. Now Food Express has the powerful ability to operate their vending, markets, and OCS on the same platform, and is better able to manage multiple branches through a consistent set of processes, as well as manage inventory and remove manual processes that were slowing growth.”

Useful Links:

• Cantaloupe: https://cantaloupe.com/
• Blog: https://www.cantaloupe.com/blog/
• Podcast: https://www.cantaloupe.com/urtechinsiders/
• LinkedIn: https://www.linkedin.com/company/cantaloupeinc
• Resource Center: https://www.cantaloupe.com/resources/
• Twitter: https://twitter.com/cantaloupeinc_
• YouTube: https://www.youtube.com/channel/UCTGQNcXUydcOHLZiuIEPuaw

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.

Forward-looking Statements:

All statements other than statements of historical fact included in this release, including without limitation Cantaloupe’s future prospects and performance, the business strategy and the plans and objectives of Cantaloupe's management for future operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this release, words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “guidance,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions, as they relate to Cantaloupe or its management, may identify forward-looking statements. Such forward-looking statements are based on the reasonable beliefs of Cantaloupe's management, as well as assumptions made by and information currently available to Cantaloupe's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to the incurrence by Cantaloupe of any unanticipated or unusual non-operational expenses which would require us to divert our cash resources from achieving our business plan; the uncertainties associated with COVID-19, including its possible effects on Cantaloupe’s operations, financial condition and the demand for Cantaloupe’s products and services; the ability of Cantaloupe to predict or estimate its future quarterly or annual revenue and expenses given the developing and unpredictable market for its products; the ability of Cantaloupe to retain key customers from whom a significant portion of its revenues is derived; the ability of Cantaloupe to compete with its competitors to obtain market share; the ability of Cantaloupe to make available and successfully upgrade current customers to new standards and protocols; whether Cantaloupe's existing or anticipated customers purchase, rent or utilize ePort or Seed devices or our other products or services in the future at levels currently anticipated by Cantaloupe; disruptions to our systems, breaches in the security of transactions involving our products or services, or failure of our processing systems; or other risks discussed in Cantaloupe’s filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this release speaks only as of the date of this release. Unless required by law, Cantaloupe does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events. If Cantaloupe updates one or more forward-looking statements, no inference should be drawn that Cantaloupe will make additional updates with respect to those or other forward-looking statements.

-- G-CTLP

View source version on businesswire.com: https://www.businesswire.com/news/home/20211012005831/en/

Media and Investor Relations Contacts for Cantaloupe, Inc.:

Alicia V. Nieva-Woodgate

Cantaloupe, Inc.

+1 720.445.4220

media@cantaloupe.com

Emily Porro

Makovsky

eporro@makovsky.com

Investor Relations:

ICR, Inc.

CantaloupeIR@icrinc.com

Source: Cantaloupe, Inc.

FAQ

What is the recent achievement of Cantaloupe Inc. (CTLP) with Food Express?

Cantaloupe Inc. has partnered with Food Express, resulting in a 97% increase in average collections per visit after implementing the Seed Pro and Seed Office platforms.

How much did Food Express reduce vending service visits after using Cantaloupe's Seed platform?

Food Express reported a 30% reduction in vending service visits after implementing Cantaloupe's Seed platform.

What are the key benefits observed by Food Express after using Cantaloupe's solutions?

Key benefits include a 97% increase in average collections per visit, a 30% reduction in vending service visits, and a 75% increase in average fills within six weeks of implementation.

In what ways did Cantaloupe's Seed platform streamline operations for Food Express?

The Seed platform eliminated manual data processes, improved inventory management, and facilitated cross-branch alignment on standard operations.