Lightspeed (NYSE and TSX: LSPD) powers complex small and medium-sized businesses with its cloud-based, omnichannel commerce platforms in over 100 countries. With smart, scalable and dependable point of sale systems, Lightspeed provides all-in-one solutions that drive innovation and digital transformation within the retail, hospitality and golf industries. Its product suite enables SMBs to sell across channels, manage operations, engage with consumers, accept payments and ultimately grow their business.
Headquartered in Montreal, Canada, Lightspeed is trusted by favorite local businesses worldwide, where communities go to shop and dine. Lightspeed has staff located in Canada, USA, Europe, and Australia.
As commerce enters a new era of digital transformation, Lightspeed’s priority remains the same as it has been for 15 years—the success of its merchants. Since the platform first hit the market in 2005, Lightspeed has empowered thousands of entrepreneurs, of all backgrounds and experiences, to grow their business. Lightspeed is committed to breaking barriers, celebrating diversity and providing merchants the platforms they need to achieve more. From its omnichannel retail solutions to its powerful analytics tool to an innovative self-service app for restaurants, Lightspeed builds technology that drives economic empowerment worldwide.
How was the idea for Lightspeed born?
Lightspeed was created in 2005, I saw the opportunity to create a point-of-sale software that would give small and medium-sized retailers the chance to compete with larger chains. Interested in programming from the age of 12, and inspired by the launch of the iTunes playlist, I realized he could create a platform similar to the iTunes interface that would be simple enough for the busy owners of independent businesses to use.
From day one it’s been about much more than transactions; Lightspeed was built to help entrepreneurs work smarter, make data-driven decisions, and create the best possible experience for their customers. 15 years later, Lightspeed has established itself as a leading provider of cloud-based, omnichannel commerce platforms serving over 100,000 customer locations in over 100 countries and provides all-in-one solutions that drive innovation and digital transformation within the retail, hospitality and golf industries.
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Tell us about your new feature Order Ahead.
Order Ahead on Lightspeed Restaurant (L series) is a cost-efficient online ordering management system designed to facilitate takeout, enabling restaurants to provide customers with a completely contactless dining experience. As COVID-19 drives growth in the restaurant-to-consumer delivery market worldwide, hospitality businesses are turning to technology to reduce friction and high fees in the takeout and delivery experience. Order Ahead on Lightspeed Restaurant (L series) integrates fully with Lightspeed eCom for Restaurant, creating a powerful digital hub that equips restaurants with new revenue streams as they future-proof their business.
As the pandemic continues to accelerate the digital transformation of the food service industry and consumers intend to make more takeout and delivery purchases, reaching diners outside restaurant walls has never been more important to ensuring long-term success. With Order Ahead, restaurants can integrate a new sales channel directly into their existing POS and provide a contactless end-to-end experience.
Key Features and Benefits of Order Ahead:
- Seamless integration and real-time updates: Restaurants can accept orders made online that appear directly into the Lightspeed POS, streamlining all orders into the prep queue. Merchants can now send real-time status updates via text message, so customers can track their orders from start to end.
- Convenient and contactless ordering: Offers customers a variety of safe and flexible pick-up and delivery choices, including the option to place an order for now or later and accept contactless payments.
- Streamlined online experience: Provides users with the option to customize branding and adjust hours of operation, preparation time, as well as pick-up and delivery options.
The launch of Order Ahead builds on Lightspeed’s innovative product suite for the hospitality industry. Most recently, Lightspeed unveiled eCom for Restaurant to help users seamlessly transition their businesses online. Whether for bespoke dishes, limited edition merchandise, or grocery items, this new eCom platform allows restaurants to continue to maintain strong customer relationships and diversify revenue.
What can we hope to see from Lightspeed in the future?
Following our recent listing on the New York Stock Exchange (September 2020) and landmark acquisition of ShopKeep, a leading cloud commerce platform provider serving more than 20,000 customer locations in the United States, Lightspeed’s goal is to become the most advanced commerce platform for high-performing businesses around the world.
The global COVID-19 pandemic has changed consumer behaviour and accelerated the digital transformations of the retail and hospitality industries worldwide. In response to the pandemic, we pivoted our product roadmap to support SMBs as they future-proofed their businesses. This includes the recent launch of Lightspeed Subscriptions, a module that allows retailers to collect recurring revenue, and Lightspeed Capital, a resource that provides select retailers with quick and easy financing.
Within hospitality, this includes eCom for Restaurant, a solution helping food service users seamlessly transition their businesses online, and Lightspeed Order Ahead, a cost-efficient system designed to facilitate takeout for restaurateurs seeking new revenue streams.
Heading into 2021, Lightspeed will continue to innovate alongside the independent businesses that choose us as their technology partner to meet the permanently changed needs of consumers.