OMNIQ SECURES CONTRACT FOR A MAJOR U.S. OWNED RESTAURANT CHAIN FOR OMNIQ’S FINTECH-BASED SELF-ORDERING PLATFORM
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Insights
The partnership between OMNIQ Corp. and the American hamburger chain for the provision of technological solutions in the Israeli market represents a strategic expansion, which could potentially increase OMNIQ's market share and revenue in the hospitality sector. The integration of Kitchen Display Systems (KDS) and self-order kiosks is indicative of a trend towards automation and improved customer service in the food industry. These technologies can lead to operational efficiencies, reduced labor costs and enhanced customer experiences, which are factors that can contribute to a restaurant's competitive edge.
It's important to note that the Israeli market presents unique consumer behaviors and preferences. The success of this expansion will depend on the adaptability and effectiveness of OMNIQ's solutions in meeting local demands. Additionally, the scalability of the technology will be important as the chain plans to open more branches. Investors should monitor the rollout closely, as early success could lead to further contracts, while any setbacks may have a negative impact on OMNIQ's stock.
OMNIQ's landmark contract with the hamburger chain is a significant development that could influence the company's financial performance. The deal not only provides immediate revenue from the sale and installation of equipment but also opens the door for recurring income from maintenance and software updates. This could improve the company's earnings visibility and provide a more predictable revenue stream.
When evaluating the potential impact on OMNIQ's stock, investors should consider the contract's size relative to the company's overall revenue. If the contract represents a substantial portion of OMNIQ's business, it could lead to material changes in the company's financial projections. On the other hand, if it's a smaller percentage, the immediate impact on the stock might be limited, though the strategic importance should not be overlooked. The expansion into a new market like Israel could signal the company's growth potential and its ability to replicate this success in other regions.
The adoption of OMNIQ's KDS and Fintech self-order kiosks by the hamburger chain is a reflection of broader trends in the hospitality industry towards digital transformation. KDS technology optimizes kitchen workflow, potentially reducing order errors and improving speed of service. The introduction of self-order kiosks can enhance the customer experience by offering convenience and reducing perceived wait times, which can be a key differentiator in the fast-food market.
It is essential to assess how these technologies will integrate with existing systems and processes within the restaurant's operations. The effectiveness of such technologies depends on their user-friendliness and the training provided to staff. If successfully implemented, these systems can provide valuable data analytics, enabling the restaurant to make informed decisions about menu offerings, staffing and marketing strategies. This data-driven approach can be a game-changer in optimizing operations and tailoring the dining experience to consumer preferences.
- All the branches will have full OMNIQ equipment.
- Project includes a new Kitchen Display System and Kiosks.
- Planning to expand to 4 More Branches this year.
SALT LAKE CITY, March 18, 2024 (GLOBE NEWSWIRE) -- OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or “the Company”), a leader in cutting-edge technological solutions and equipment for the hospitality industry, is thrilled to announce a landmark contract with a renowned American hamburger chain. This collaboration marks a significant milestone as the company ventures into the Israeli market, with its first branch now open in Tel Aviv.
The contract signifies the beginning of a strategic partnership, with plans to equip four more branches within Israel by the end of this year. This endeavor not only underscores OMNIQ’s pivotal role in enhancing the dining experience but also its commitment to innovation and quality.
Under this agreement, OMNIQ will furnish the restaurant's Israeli branches with full OMNIQ equipment, integrating state-of-the-art computer systems designed for the Kitchen Display System (KDS). This technology streamlines kitchen operations, ensuring orders are prepared efficiently and accurately, enhancing customer satisfaction.
Additionally, OMNIQ will introduce new, special Fintech self-order compact kiosks to these Israeli outlets. These kiosks are designed to optimize the ordering process, allowing customers to place orders conveniently, thus reducing wait times and improving the overall dining experience.
"We are honored to partner with them as they expand into the Israeli market," said Shai Lustgarten, CEO, OMNIQ. "This partnership aligns with our mission to deliver innovative solutions that drive efficiency and enhance the customer experience. We are excited to see how our technology will support their growth and success in Israel."
The restaurant’s decision to collaborate with OMNIQ illustrates a shared commitment to enhancing the dining experience through technology. It signifies a mutual recognition of the potential to set new standards in the industry and contribute to the evolution of global dining practices.
About OMNIQ Corp.
OMNIQ Corp. specializes in cutting-edge computerized and machine vision image processing technologies, underpinned by its proprietary and patented artificial intelligence developments. The company offers a comprehensive suite of services including advanced data collection systems, as well as real-time surveillance and monitoring solutions for a variety of industries such as supply chain management, homeland security, public safety, and traffic and parking management. OMNIQ Corp.'s solutions are meticulously crafted to enhance security and efficiency in the movement of people, assets, and data within critical infrastructures like airports, warehouses, and borders.
OMNIQ Corp. caters to a diverse client base, including governmental bodies and prominent Fortune 500 companies across sectors—ranging from manufacturing and retail to healthcare, distribution, transportation, logistics, and the food and beverage industry, along with the oil, gas, and chemical industries. Organizations leveraging OMNIQ Corp.’s advanced technologies gain superior control over their operational complexities, thereby achieving greater operational efficacy.
The company is actively working in industries that are quickly growing, such as the Global Safe City market expected to reach
For more information, please visit www.OMNIQ.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, particularly under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements outline anticipated future events, economic conditions, and financial results, relying on current expectations and forecasts rather than historical realities.
Forward-looking statements, identifiable by words such as "anticipate," "expect," "may," "believe," and similar terms, are not assurances of future performance but reflections of management’s present views on potential future events. These predictions are subject to various risks and uncertainties that could cause a significant deviation in actual outcomes from those suggested or implied. Key factors include changes in product demand, the rollout of new products, the maintenance of key business and strategic partnerships, competitive challenges, market growth, financial stability, debt handling, and the successful integration of acquisitions.
This release’s specific forward-looking statements include projections about financial maneuvers, revenue enhancement, and operational betterment. For a comprehensive analysis of risks and uncertainties that might impact OMNIQ Corp.'s projected achievements, refer to our latest submissions to the Securities and Exchange Commission at https://www.sec.gov. OMNIQ Corp. reserves the right to update these forward-looking statements as necessitated by law.
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