Lightspeed launches new flagship restaurant platform in North America with innovative analytics, payments, inventory management

Rhea-AI Summary

Lightspeed Commerce Inc. (NYSE: LSPD) has launched Lightspeed Restaurant, a new hospitality commerce and POS platform in North America, following its successful European launch. This platform integrates features from Upserve, Gastrofix, Kounta, and iKentoo to enhance operational efficiency for restaurants. Key offerings include advanced analytics, integrated inventory management, and contactless payments aimed at addressing the evolving needs of restaurateurs in the post-pandemic landscape.

Positive

• Launch of Lightspeed Restaurant enhances operational capabilities for restaurants.
• Integration of advanced analytics and reporting features improves decision-making.
• Contactless ordering and payments streamline customer interactions.
• Successful initial rollout in Europe sets a positive precedent for North America.

Negative

• None.

New Lightspeed Restaurant integrates top features from Upserve, Gastrofix, Kounta and iKentoo 

MONTREAL, Oct. 14, 2021 /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 launch of the all-new Lightspeed Restaurant, a unified hospitality commerce and point-of-sale (POS) platform. 

Dining out in the US and Canada is on the rise again, but business needs have fundamentally changed. Through strategic global acquisitions, Lightspeed has combined the power of Upserve, Gastrofix, Kounta and iKentoo with new solutions and modules, to simplify processes and enable merchants to build thriving businesses for the future. This best-in-class solution built through years of strategic investments and innovation, brings together an innovative POS, contactless integrated payments, online ordering, advanced inventory, and analytics to create a powerful hospitality platform for running a smarter, more efficient restaurant. 

"After years of strategically bringing together the best talent and technology in the hospitality industry, we're excited to bring this long-awaited solution to the United States and Canada after a successful launch in Europe last quarter," said Peter Dougherty, GM, Hospitality, Lightspeed. "Digital adoption has been an important lifeline for restaurants and it's clear there are greater efficiencies to be realized with new technology. Lightspeed Restaurant was built to meet these challenges by putting new data into the hands of independent restaurateurs to help them make smarter decisions about their business." 

The new Lightspeed Restaurant is now available in North America in a phased rollout to select restaurants after launching in Europe this summer with new customers like fast casual mega-chain Dean & David. 

Lightspeed Restaurant's Key Merchant Resources Include:

• Best-in-class Analytics and Reporting
  Lightspeed Restaurant tells operators what brings their customers back, who their best servers are and why, and makes them feel like they're on the floor every day even if they manage several locations.
• Data at your Fingertips 
  Restaurant owners, chefs and managers receive a daily email detailing everything they need to know before doors open, and a shift prep email detailing reservations, VIP guests, and notes for the service ahead. 
• Comprehensive Integrated Inventory
  Track and automate inventory without breaking the bank. Know exactly how much product was sold, how much is still on hand, and how much is needed from a supplier for the next order.
• Easy-to-Use and Train Workflows
  Optimized by years of user testing, Lightspeed Restaurant is easy to use and train on, key for hiring and retaining new staff and running smoother shifts. 
• Contactless ordering and payments with Order Anywhere
  Fully integrated with Lightspeed Restaurant, Order Anywhere provides contactless ordering and payments for dine-in, and commission-free ordering for takeout, with the flexibility to either pre-pay online or pay at pick up, while avoiding expensive third-party fees. 

"The difference with Lightspeed Restaurant is the accuracy of information," said Antonio Arias, founder of Once Finger Lakes, a restaurant and wine tasting room in upstate New York, who began using Lightspeed Restaurant in beta this year. "When everything is on the same system and fully integrated, everything flows better. With POS, analytics, and inventory all under the Lightspeed umbrella, that's the dream. " 

In a recent Lightspeed and OnePoll study of over 2,000 merchants and consumers, 90% of US hospitality merchants credit the adoption of technology to their survival and 50% are looking for technology to help automate tasks – a key requirement for a short-staffed industry. 

"The quality of service and product really has an impact on the quality of my life," said Brook Neale, GM of Mexiko Strasse who started using Lightspeed Restaurant in 2021. "A lot of people go into gastronomy out of passion and the less they have to worry about, the better. I really feel that Lightspeed is helping people get on with their businesses, and making a practical effect on their day-to-day life." 

About Lightspeed 
Powering the businesses that are the backbone of the global economy, and used by merchants around the world including Five Guys, Canlis, Momofuku, Tommy John, and Vera Wang, 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 and Toronto Stock Exchange (NYSE: LSPD) (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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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"). 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.

Media Contacts: 

Victoria Baker
NKPR
victoriab@nkpr.net 

Lightspeed Media Relations
media@lightspeedhq.com

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SOURCE Lightspeed Commerce Inc.

FAQ

What is the recent launch by Lightspeed Commerce Inc. related to the restaurant industry?

Lightspeed recently launched the Lightspeed Restaurant platform, a unified POS system aimed at enhancing restaurant operations in North America.

How does Lightspeed Restaurant support restaurant operations?

It offers analytics, inventory management, and contactless payment solutions to improve efficiency and customer service.

In which regions is Lightspeed Restaurant available?

The Lightspeed Restaurant platform is currently rolling out in North America after a successful launch in Europe.

What companies were integrated into the new Lightspeed Restaurant platform?

The platform incorporates features from Upserve, Gastrofix, Kounta, and iKentoo.

What benefits does Lightspeed Restaurant provide to restaurant owners?

It provides data insights for better decision-making, simplifies inventory management, and enhances customer interaction through contactless solutions.