Lightspeed and OpenTable Help Restaurants Drive Improved Efficiencies as Systems Integration Partnership Extends to North America

Rhea-AI Summary

Lightspeed Commerce Inc (NYSE: LSPD) announced an expansion of its integration partnership with OpenTable, enhancing real-time communication for restaurant operations. This integration aims to improve efficiencies amidst rising costs and staffing challenges in the industry. Key benefits include faster table turnaround times, automated check creation, and comprehensive insights into diner behavior. Leaders from both companies emphasize the importance of this partnership for providing exceptional guest experiences while optimizing operational costs.

Positive

• Enhanced real-time communication improves operational efficiency for restaurants.
• Integration streamlines table management, boosting turnaround times.
• Automated check creation reduces manual processes for staff.
• Access to interactive reports allows restaurateurs to track performance and revenue instantly.

Negative

• None.

MONTREAL, July 19, 2022 /PRNewswire/ - Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD), the one-stop commerce platform for merchants around the world to simplify, scale, and create exceptional customer experiences, today announced the expansion of its systems integration partnership with OpenTable (part of Booking Holdings Inc., NASDAQ: BKNG), a leading restaurant platform and provider of online restaurant reservations.

The rich integration between OpenTable and Lightspeed enables the two systems to communicate in real-time, streamlining the core information restaurants need to run an efficient floor all in one place. Those using the Lightspeed and OpenTable systems integration can better understand diner behavior and spending, get up-to- the-minute updates on table status, and track revenue in real-time, harnessing the power of both systems.

The partnership expansion comes as restaurants continue to face a difficult operating environment with rising costs and staff shortages, putting a new emphasis on the need to drive efficiencies, without compromising the guest experience.

Restaurants using the integration can benefit from:

• Improved table turnaround times with up-to-the-second updates, so hosts know the status of every table.
• Automated check creation once a meal is completed.
• Quickly viewing information on past visits including average spend, previous order info and more, allowing staff to provide a greater level of customer familiarity and hospitality.
• Interactive reports available anytime, anywhere, giving restaurateurs real-time access to restaurant performance, revenue, and more.

"Lightspeed restaurants are always looking to help provide the best possible guest experience. This partnership gives management and staff in-depth guest details for every reservation," said Lightspeed Hospitality GM Peter Dougherty. "OpenTable is an industry-leading restaurant platform, and we're proud to bring more resources like this to our customers around the world."

"Our integration partnership with Lightspeed gives restaurants even more tools to help provide exceptional hospitality while protecting their bottom line," said Susan Lee, Chief Growth Officer for OpenTable. "We've seen success in Europe, and we look forward to bringing these capabilities to more owners and operators across North America."

The new flagship Lightspeed Restaurant and the OpenTable integration are must- have tools for the busy summer ahead in hospitality. To learn more about the OpenTable partnership, click here.

Editor's Note
Customer Testimonial: How Craft House Improved Sales and Table Turn Time with Lightspeed & OpenTable*

Blake Mellgren, chef and owner of Craft House bar and restaurant in Dana Point, California has seen success with the integration: "The big driver for us was the ability to keep track of guests through the whole dining experience, and quantify those experiences."

Now that many restaurants see turn times as a key opportunity to optimize the ROI of each shift, Mellgren says: "Instead of having to walk through the restaurant and status everybody, which wastes time, the host knows exactly where the meal is. Using the OpenTable and Lightspeed integration helps create a better workflow so everybody is on the same page, allowing us to be one step ahead."

Using the OpenTable and Lightspeed Restaurant integration has also helped Mellgren have a better sense of his VIP guests' preferences. "Seeing in the Lightspeed and OpenTable integration what your customers are ordering on a regular basis is a nice feature. We may not know them as a regular yet, but you can access that data if you want to connect the dots and it's all at your fingertips," said Mellgren.

About Lightspeed 

Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale, and provide exceptional customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions, and connection to supplier networks.

Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe, and Asia Pacific, the company serves retail, hospitality, and golf businesses in over 100 countries.

For more information, see www.lightspeedhq.com

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About OpenTable

OpenTable, part of Booking Holdings, Inc. (NASDAQ: BKNG), connects more than 1 billion people with restaurants every year, helping power hospitality at more than 50,000 restaurants, bars, wineries, and other venues in more than 80 countries. With software that drives reservations, experiences, payments, guest insights and operations, OpenTable enables restaurants to run their most successful business yet.

*Disclaimer: Customer received an account credit in exchange for participation.

Forward-Looking Statements

This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"), including information regarding Lightspeed's product offerings and planned product roadmap. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under "Risk Factors" in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Lightspeed Commerce Inc.

FAQ

What is the recent news about Lightspeed and OpenTable integration?

Lightspeed expanded its integration partnership with OpenTable to improve real-time communication and operational efficiency for restaurants.

What benefits does the Lightspeed and OpenTable integration provide for restaurants?

The integration offers improved table turnaround times, automated check creation, and real-time access to diner behavior and revenue tracking.

When was the partnership expansion between Lightspeed and OpenTable announced?

The partnership expansion was announced on July 19, 2022.

How does the integration of Lightspeed and OpenTable help restaurants amid rising costs?

It helps streamline operations and drive efficiencies, allowing restaurants to manage costs better while maintaining a high-quality guest experience.

What is Lightspeed's stock symbol?

Lightspeed's stock symbol is LSPD, traded on NYSE and TSX.