December 5, 2013
With Christmas just round the corner, shop owners can expect a lot more traffic at their stores. To manage the heavy rush, ShopkeepPOS has released a new version of its iPad based sales management which helps in reducing the check out time at retail locations.
ShopkeepPOS was co-founded in 2008 by Jason Richelson (CEO), David Olk (COO), and Amy Bennett. The company received a total funding of $ 12.2 Mn through investors Canan Partners, TTV Capital, and Tribeca Venture Partners. 50% of Shopkeep’s customers include quick serve restaurands such as food trucks, bakeries and coffee shops while the other half includes clothing stores, pop ups and boutiques.
ShopKeep POS solution provides a platform that enables merchants to manage sales at their shop with the help of an iPad. It is backed by good customer support which helps to narrow down the gap between retail systems and advanced cloud technology. ShopkeepPOS provides mass customization and alternative to common payment platforms.
With the update:
Retailers can now customize their register with color coded buttons and group products to jump between various categories in a easier manner.
The company has also focused on order and receipt printing, a pain point that adds friction to the sales transaction.
High volume restaurants are enabled to print orders to multiple locations, such as the kitchen and bar. Smaller retailers can print receipts and tickets to the same printer.
Some of the Features of ShopkeepPOS:
X and Z Reports: ShopkeepPOS application will allow merchants to redesign the layout and other Information in cash flow. The Z Report will now give the businesses full details of Cash flow which will allow the retailers to match with the cash drawer.
Discount by dollar%: ShopkeepPOS updated version has increased the flexibility of their discounting. Now users can discount individual sale or their entire sale by either a dollar amount or a fixed percentage.
Split tender returns: The flexibility of returning a split tender sale, which gives the user more control. It helps the user in dealing with multiple payments by giving the user freedom in choosing the split over which they want the return.
Extra Data Security for Manual Card Entry: Shopkeep POS has added a CVV field which is required for manually entered cards and charged zip code from an optional to required field.
Shopkeep POS provides mass customization and alternative to common payment platforms. The entire idea is to replace the traditional POS (Point of service Terminal) with an easy to use high end technology that stores all the data in the cloud. Shopkeep POS is functionally viable because of its low cost (under $ 1,000 for all hardware including an ipad) that makes him popular among retailers.
According to Shopkeep CEO Jason Richelson, their main competitors are Windows based POS systems. There’s PayPal or Square, but then they realize they need reporting and timeclocks and employee management. When you’re running a store you need retail management, not just payment. They’ll try those first and then move up to us.
Shopkeep POS enables shop owners to accept cash as well as credit. Shopkeep has also tied up with PayPal and LevelUp to enable merchants using their platform to accept mobile payments.
In three to five years we can be in a really large percentage of retail stores, very similar to what Salesforce did with CRM, said Richelson. It’s a very different world now. POS used to be very fragmented because someone had to install a server in your basement. It’s no longer a fragmented industry. There’s going to be a dominant player.