POS provider Revel Systems experiences 250 percent growth
US based Point of Sale (POS) provider, Revel Systems has experienced growth of 250 percent over the past 12 months, with Australia becoming the business’ second largest market behind the US.
The Apple iPad-based POS software currently has 1,000 terminals operating across the country including George Gregan’s GG Express, Charlie Lovett and Croissant Express caf outlets and Qantas Business Lounges. The system can be adapted to assist both single location and multi-location outlets for POS services, ordering, delivering and inventory control as well as employee scheduling and payroll administration.
“We have now reached a capitalisation of $500 million and are targeting listing on the New York Stock Exchange or Nasdaq over the next two years,” says chairman of Revel Systems, Sean Tomlinson.
“Australia is now Revel’s second largest market with 40 staff across Sydney, Perth, Brisbane and Melbourne, with an office now open in Singapore to progress our expansion across Asia.”
Now working with Apple, the five-year old business has posted revenue growth of 250 percent over the last 12 months. Revel Systems Australia general manager Josh Franklin says the business’ incorporation of customer feedback into the platform has largely led to the impressive growth.
“Being just five years old, we are still predominantly led by our customers’ feedback, with weekly meetings being held to provide their suggestions to our technology experts in California,” says Franklin.
“We designed our system as a hybrid between a cloud-based, back-end and an iOS App ensuring it has bullet proof stability and “always-on” reliability. It is this fleet footed approach that is keeping us ahead of our competition in processing time and potential security beaches, that have occurred in a number of competitors’ installations in recent years.”
When developing the platform, Franklin says that Revel worked with accounting and time-and-attendance systems providers, concentrating on its core competencies at point of sale, with special attention to cyber security and customising its terminals to individual businesses.
“We are offering an all-in-one solution for stores and are extending our market reach to more hospitality and retail outlets across Australia, with our system scalable to have the ability to cater for major chains both here and across Asia – a region where our potential reach is enormous.”
Hospitality caught up with Franklin in July 2014 to discuss the impact of the nationwide switch from signature credit and debit payments to pin in the Australian foodservice scene. Click here to read the full article.