In a current market scenario, it has become necessary for businesses to keep pace with today’s increasingly demanding and well-informed consumers. Thus, many new innovative inventions have been evolved in the business world to streamline the business operations that can satisfy customers with the services or products they offer. As initially, most of the businesses were using cash registers for maintaining sales transactions. Since then, cloud based Point of Sale (POS) systems has continued to evolve that are far beyond a payment and accounting system to drive highly individualized interactions that consistently gratify customers in the moment. This led to the inception of a leading POS company, SlickPOS.
A Platform Providing Quality Customer Services
SlickPOS is a platform with an app-based ecosystem enabling customers to try features they require. The company prides itself in providing quality customer service. POS being a critical part of daily operations needs to be up and running all the time and thus in case of issues, SlickPOS makes sure that the issues are addressed within 30 minutes. It also makes sure that the price remains affordable even as more features are added to the POS.
SlickPOS provides tailor-made cloud-based POS solutions to the businesses including restaurants, cafes, QSR and food trucks. The company works across the platforms like windows, Android and iOS devices. It gives the customers a capability to manage both standalone and chain of stores. Being a cloud-based solution, it works offline too when there is no internet.
Foremen behind SlickPOS
SlickPOS is headed by two of its Co-founders, Abishek Baskaran, CTO and Saravanakumar C.P., CEO. Prior to SlickPOS, Abishek has worked with Goldman Sachs and Oracle. As the co-founder and technology lead, he looks after product development, architecture and product management. Saravanakumar has worked with Deloitte Consulting before SlickPOS. He has worked across all phases of the system development life cycle, with a broad spectrum of clients from industries like semiconductors, banking, warehouse management, consumer & industrial products and technology.
Both of them have been involved in successfully launching and running an online cake store. Apart from these, they both also have an experience in running retail food outlets. The experience from the industry has enabled them to build a solution that addresses the pain point in the industry.
SlickPOS enables the owners of food outlets to grow their business by providing certain features such as avoiding pilferage with inventory management app, avoiding customer loss through the feedback app, and monitoring key metrics of their store for anywhere with the owner app. The additional features of the company’s product includes cloud POS, works offline, available for every device, accept booking, credit sales, table management, order tickets, discounts and payment modes, multiple cashier accounts, inventory management, recipe management, SMS & digital receipts, customer feedback, store owner app, dashboard and reporting, responsive support and API integration.
A Journey through Challenges
As challenges are the part of journey, SlickPOS also went through hurdles to reach a certain level. Initially, its primary customer acquisition channel was online as the offline channels were expensive for a startup. Thus, the company tried different approaches by analyzing their effectiveness and finally stuck on to a few strategies that worked.
The point of sale is a product that can have hundreds of features built into it. With a small team, SlickPOS had to make sure that it was building the features that the customers required most. The company also made sure about the differentiating factors of its products.
Higher cost of operations such as salary, technology infrastructure, office infrastructure, etc. means higher cost of product. The biggest challenge for SlickPOS was to keep the operational cost low in order to deliver a quality product to the customer at a reasonable cost.
After passing through these challenges, SlickPOS has set the benchmark of its offerings in the POS Market. The Minimum Viable Product (MVP) of SlickPOS was developed in 3 months on a budget of $4000. In a year since launch SlickPOS has been tried by more than 5000 customers.
Paving the Way to build a Technology Platform for Retail Stores
SlickPOS envisions building a technology platform for retail stores. As every store and its owner’s requirement are unique in a way, it aims to provide single click customizations to its users. The company wants to enable data collection to its users and the same data collection is being leveraged to help in-growth of user’s store at minimum cost. The other problem store owners mostly face is to manage a store with unskilled labor. Thus, ease of use is an underlying philosophy of SlickPOS’s product.
SlickPOS’s near future goal is to focus on the food industry. It is developing a new product in a way that with each release it adds new features in the product to target the next category of customers in the food industry. The company has distributed food industry into different categories that includes cafes, quick serve restaurants, food trucks, restaurants with single kitchen, multi cuisine restaurants, and restaurant chains.
Source: The 10 Most Innovative POS Solution Providers 2018
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