New product updates focus on providing
merchants with a deeper understanding of their–and their
competitors–businesses
MONTREAL, Oct. 22,
2024 /CNW/ - Lightspeed Commerce Inc. (NYSE:
LSPD) (TSX: LSPD) ("Lightspeed" or the "Company"),
the one-stop commerce platform empowering merchants to provide the
best omnichannel experiences, today highlighted some of the key
product innovations launched in the past quarter to support the
Company's customer base in retail and hospitality.
Focused on improving business effectiveness and operational
efficiency, the releases in the past few months have streamlined
business management to help create faster workflows, predict sales
opportunities and compare the health of their business against
industry benchmarks.
"This past quarter we've delivered on some exciting and
cutting-edge technology innovations," said Dax Dasilva, Founder and Chief Executive Officer
of Lightspeed. "Whether you're a retailer looking to better
capitalize on product sales opportunities, or a restaurateur who
needs to better understand their business in context to your peers,
we've opened up real opportunities to improve business performance
and maximize sales."
Lightspeed's Q2 innovations brought a number of new products and
feature sets across the retail and hospitality industries,
including:
Retail
- Increased sales opportunities and better inventory
management with Retail Insights
Launched globally in
August, Retail Insights allows Lightspeed customers to
close the gap on missed sales opportunities by using historical and
real time data to forecast demand which factors in stock-outs, and
create purchase orders ahead of demand.
- Keep your sales, and peace of mind, with Offline
Mode
With Offline Mode, Lightspeed Retail merchants can
continue to run business as usual even during outage situations.
When a terminal detects that the internet connection has been lost,
Lightspeed's POS will be prompted to enable offline mode to process
payments. Merchants can manually enter the sale amounts and have
the customer pay using a card payment like normal. The payment will
be stored on the terminal until the internet connection has been
restored. All stored payments will then be transferred to
Lightspeed for processing and merchant portal payments will be
updated accordingly.
- Automatic Order Distribution to Multiple
Locations
Distributing stock from a purchase order to
multiple locations can be challenging. With Lightspeed
Multi-Location Ordering, retailers can now create one purchase
order for multiple locations and after receiving it at a warehouse
automatically create transfers to distribute the stock out.
- Instant Payouts for Retailers Comes to the UK
Cash
flow is the most crucial part of running a business. With the
launch of Instant Payouts to UK merchants, eligible Lightspeed
merchants will be able to access funds immediately after the
transaction–even on weekends and holidays–and manage daily
expenses, pay suppliers and invest in growth opportunities. Instant
Payouts is already available to Lightspeed Retail customers
currently based in the U.S.
Hospitality
- Groundbreaking AI-driven Benchmarks & Trends for the
Hospitality industry
Through the power of machine learning
and AI, Benchmarks & Trends gives restaurateurs the insights
they need to help boost revenue, streamline operations, and gain a
competitive edge in a crowded dining landscape.
- Spot trends faster with the new Sales Summary
page
Leveraging improved data visualization, customers can
now better understand what's happening with their business,
identify sales trends and pinpoint where losses are happening. This
visual guide clearly outlines the busiest periods throughout the
week and provides insights into what's affecting performance.
- Happy Hour on Order Anywhere
Extend POS happy hour
pricing to Order Anywhere. This feature allows businesses to
dynamically adjust their menu pricing, allowing guests to take
advantage of happy hour pricing ordering online from their
table.
- Menu management made easy through bulk
actions
Customers can manage their menu faster than ever
with new bulk actions in the item library. Assign static
categories, accounting groups, production instructions, etc.
Archive or unarchive up to a hundred items at a time.
- Issue partial refunds directly from the POS
Partial
refunds directly from the POS are now enabled for all merchants.
This feature gives users the flexibility to refund specific items,
service charges and tips, making it easier to provide excellent
customer service.
eCommerce
- Endless opportunities with custom sections for the Instant
Site
Merchants and partners can now develop and design new
sections for Lightspeed eCommerce Instant Site. Giving merchants
and developers the tools to build unique customer experiences
tailored to their business or design an online store that matches
their vision and takes their brand to the next level.
Lightspeed powers the world's best restaurants and retailers
including: Taverne Atlantic (Montréal), Tony's Chocolonely
(Amsterdam), Alinea Group
(Chicago), L'Occitane
(New Zealand), and Kei (Paris).
For more information, see https://www.lightspeedhq.com/.
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 omnichannel
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 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.
Follow us on social media: LinkedIn, Facebook, Instagram,
YouTube, and X.
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 profiles
on SEDAR+ at www.sedarplus.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.