Oracle ORCL recently announced that Paytronix has selected cloud-based Oracle MICROS Simphony POS (point of sale) solutions to be integrated with its Order & Delivery platform. This will enable restaurateurs to augment digital experience for their patrons.
With the MICROS POS integration, Paytronix’s Order & Delivery Platform can now exhibit information pertaining to lead times and out-of-stock items as well as store hours, while displaying online ordering menus on both desktop and mobile devices.
The Oracle POS-Paytronix Order & delivery integration will provide small brands with improved IT support as the latest installs will be automatically updated. Large brands with greater number of stores can add the updates to all the stores simultaneously utilizing the cloud technology and thereby saving time.
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Moreover, brands which have delivery partnership with Uber Eats, GrubHub, and other such platforms can add orders and offer variety of contactless payment alternatives for their patrons with the MICROS POS integration. It will also help brands increase demand for their curb side pickup facility.
Notably, Paytronix is a well-known software as a service (SaaS) provider of customer experience management solutions which are mostly adopted by restaurants and convenience stores across Europe and North America. The company’s Order & Delivery platform facilitates hassle-free management of digital orders. The platform has a user-friendly ordering interface for both mobiles and desktops and features loyalty program integration.
The latest deal win is a positive for Oracle’s restaurant POS system and is expected to contribute to revenues in the coming quarters.
Increasing Demand for Cloud POS: Key catalyst
POS systems are being increasingly leveraged by businesses especially restaurants and retail stores as these perform numerous tasks apart from processing payment like inventory and personnel management, along with sales and customer data analysis.
The coronavirus induced shelter-in-place guidelines has given more boost to digital commerce including online ordering and delivery of food items. Moreover, shifting customer preferences toward cashless transactions along with increasing need for additional payment choices is driving demand for POS systems.
As a result, restaurants are scrambling to overhaul digital experience for patrons and drive revenue growth amid slackened conventional business prospects.
Per a Grand View Research report, the global restaurant POS terminals’ market is expected to witness a CAGR of 6.8% between 2020 and 2027. The cloud segment is forecast to expand at the highest CAGR over the projected period.
Per Mordor Intelligence report, cloud POS market is projected to witness a CAGR of 24.2% between 2020 and 2025. Cloud POS systems store data over cloud and simplify the software maintenance/ upgradation issues while proving cost-efficient at the same time. Increased scalability is also driving the rapid uptake of cloud POS especially in verticals where end-user management is of paramount importance like hospitality, retail and media, added the report.
We believe improved spending by restaurateurs on digitally transforming their business processes, will augment adoption of the Oracle’s restaurant POS solutions, which is a positive for this Zacks Rank #3 (Hold) company. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company’s cloud-based restaurant POS solutions offer restaurateurs simplified management of restaurant operations by streamlining inventory and marketing practices along with computerizing everyday tasks. They also provide faster updates to changes in menu and arrangement of staff work schedule.
However, increasing expenses to strengthen its POS offerings amid stiff competition from the likes of other technology companies including Square SQ, Hewlett Packard HPE, Light Speed and Shopify SHOP in this space, are persistent overhangs for Oracle.
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