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TransAct Announces Strong Momentum from SMB Initiative in Fourth Quarter of 2021
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Rhea-AI Summary
TransAct Technologies (TACT) announced notable success in its SMB initiatives, with 26 new accounts adopting the BOHA! system, encompassing 44 terminals. This growth represents a potential for up to 900 additional terminals in the future. TransAct's BOHA! platform integrates various applications to enhance food service operations. CEO Bart C. Shuldman emphasized the SMB team's focus on delivering personalized solutions to small businesses, highlighting the ongoing demand for the BOHA! technology.
Positive
26 new accounts with BOHA! terminals adopted, indicating strong market penetration.
Potential expansion of up to 900 additional terminals, signaling future growth.
Success of SMB initiatives since Q2 2021 demonstrates effective business strategy.
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None.
Focus on SMB Market Yields 26 New Accounts Across Individual Restaurants, Chains, And Franchisees
HAMDEN, Conn.--(BUSINESS WIRE)--
TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today announced continued success with its SMB initiatives, which were introduced in the second quarter of 2021. In the fourth quarter, these efforts have resulted in the adoption of BOHA! terminals and workstations by 26 new small businesses, including individual restaurants, chains, and franchisees. These new accounts have already rolled out a total of 44 BOHA! terminals and workstations, and represent an additional opportunity to deploy up to an additional 900 terminals at their stores in the future.
“These new wins are indicative of the strength of our SMB initiative, and we look forward to its continued future success. We truly believe that every restaurant, convenience store and food service provider, regardless of number of locations or size, can benefit from our industry leading BOHA! platform,” said Bart C. Shuldman, Chairman and CEO of TransAct Technologies. “The SMB sales team was created last year in order to give customers the type of high quality, personalized experience we are accustomed to providing. The team is focused on small restaurant companies including franchise owners and also small convenience stores that can quickly test out the BOHA! solution and quickly move forward and purchase our technology.”
BOHA! and BOHA! ROP are the first single-vendor cloud-based enterprise system to combine applications for Food Safety, Date Code and Grab n’ Go Labeling, Temperature Monitoring of Food and Equipment, Checklists & Task Management, Inventory Management, Timers, and Food Recall, in one integrated platform. Each BOHA! solution combines cloud-based SaaS applications with hardware and accessories to deliver superior results for critical back-of-house operations. BOHA! offers a one-stop solution for restaurants and food service companies to address their current back-of-house operating requirements while providing a future-ready platform capable of addressing back-of-house operations.
About TransAct Technologies Incorporated TransAct Technologies Incorporated is a global leader in developing software-driven technology and printing solutions for high-growth markets including food service, casino and gaming, POS automation, , and oil and gas. The Company’s solutions are designed from the ground up based on customer requirements and are sold under the BOHA!™, AccuDate™, EPICENTRAL®, Epic®, Ithaca® and Printrex® brands. TransAct has sold over 3.3 million printers and terminals around the world and is committed to providing world-class service, spare parts and accessories to support its installed product base. Through the TransAct Services Group, the Company also provides customers with a complete range of supplies and consumable items both online at http://www.transactsupplies.com and through its direct sales team. TransAct is headquartered in Hamden, CT. For more information, please visit http://www.transact-tech.com or call (203) 859-6800.
Forward-Looking Statements
Certain statements in this press release include forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe" or "continue" or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but not limited to, customer acceptance and market share gains, both domestically and internationally, in the face of substantial competition from competitors that have broader lines of products and greater financial resources; our competitors introducing new products into the marketplace; our ability to successfully develop and introduce new products and the acceptance of such products in the marketplace; our dependence on significant customers; our dependence on significant vendors; dependence on contract manufacturers for the assembly of a large portion of our products in Asia; our ability to protect intellectual property; our ability to recruit and retain quality employees as the Company grows; our dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe, Latin America and Asia; the economic and political conditions in the United States, Australia, New Zealand, Europe, Latin America and Asia; marketplace acceptance of new products; risks associated with foreign operations; the availability of third-party components at reasonable prices; price wars or other significant pricing pressures affecting the Company's products in the United States or abroad; risks associated with potential future acquisitions; the risk that our new line of food safety and oil and gas products will not drive increased adoption by customers; and other risk factors detailed in TransAct's Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.
