January 30, 2015
On a recent trip to Boston, we got a chance to meet Gordon Russell, CEO & Co-founder of Springboard Retail. The first remarkable thing about Gordon and his group is that they come from the retail industry and they started implementing their cloud based solution more than a decade ago. And since they come from the retail world and the founder still owns a retail chain, they are able to understand their customers’ problems and offer the best possible solutions from an insider’s perspective. The company was established in January 2013 during the NRF (National Retail Federation) convention in the same year.
Springboard counts Boston Sunglass Company, Mahi gold, Pink Magnolia, The Vaccine Center, Porter’s Craft & Frame amongst its customers and has a 20 person development team situated globally. Springboard primarily offers a retail platform that includes solutions and services that are highlighted by the following illustration:
Some key features/components of their service offerings are:
Springboard has recently partnered with NuORDER, a B2B E-commerce platform, to allow fashion brands and retailers to improve their buying and order management processes — saving time, buying smarter, and supporting higher sell-throughs at better margins. With the Springboard Retail partnership, when a Springboard customer places an order in NuORDER, it is immediately visible in Springboard’s inventory management platform, making data instantly reportable and orders instantly available for receiving. NuORDER’s software also utilizes cloud-based architecture and a native iPad app which are now integrated with Springboard’s platform.
Springboard Retail has also integrated its platform with Shopify to provide Springboard customers the ability to automatically sync and manage inventory in both brick and mortar and ecommerce stores, increasing revenue and enabling strategic buying initiatives. With this integration, Springboard customers can now make all inventory available across all stores – online and offline. Retail customers can compare website sales, in-store sales, and customer activity - online and offline - in one single place instead of two. Shopify offers a professional online storefront, a payment solution to accept credit cards, a point of sale system to power retail sales and a card reader to process credit card transactions through a mobile phone, and all of this would now be available to Springboard customers as well.
Springboard Retail’s mobile POS use case:
At the 1000 sq. ft. store of In The Pink based in Boston, Springboard had launched its mPOS solution on April 10 last year. Within a span of 4 months, Springboard helped increase net sales by 23.2%, unit sales by 18.4% and overall transactions at the store by 22%.
Springboard Retail is moving towards a self-onboarding model for retailers which requires less training for sales people. It is a SaaS based model and is available to retailers for as low as $79 per month.
The company’s plans for this year include looking for further partnerships in commerce for the retail industry, implementing their sales strategy and also looking for collaborations with e-commerce platforms like Magento and certain payment acquirers as well.