"Lightspeed just entered its 20th year in business, and we wouldn't be where we are today without a dedicated commitment to providing product innovation that supports our customers' growth ambitions," said Dax Dasilva, Founder and Chief Executive Officer of Lightspeed. "Retailers and restaurants around the globe are facing complex challenges to their business, and it's our goal to help those customers better understand their operations, their customers and their opportunities for growth."
Lightspeed's Q4 innovations brought a number of new products and feature sets across the retail and hospitality industries, including:
Retail
- Forecast demand with greater accuracy using seasonal trends
Lightspeed's Retail Insights now analyzes sales patterns and seasonal trends to forecast demand with precision and ensure optimal inventory levels, reducing overstock and out-of-stock periods, maximizing sales. Available on plans that include Lightspeed Insights.
- Understand your data in an instant with sales visualisations
You shouldn't need a BI degree to understand your data, Lightspeed Insights has made this even easier for merchants with the addition of sales visualisations, turn your data into easy to interpret visual graphs to understand in a snapshot how your business is performing without sifting through spreadsheets.
- Lightspeed's new Generative AI web builder takes the frustration out of web design
Lightspeed's cutting-edge new AI-driven website building tool, is designed to help retail merchants generate website elements from a simple screen grab. No need for manual coding or third party developers. This innovative tool lets retailers create custom web elements without coding by using AI to analyze screen captures and generate production-ready code. Merchants simply describe or show Lightspeed's Website Builder what they want using real-world examples, and the tool builds them fully integrated, professional-looking online stores with speed and ease.
- Lightspeed NuORDER advancements streamline inventory operations
Lightspeed's NuORDER Wholesale Network now includes PO Sync, a two way sync to drive fast, automated replenishments for retailers. Now retailers can place a replenishment directly in POS and have this sent to their supplier on Lightspeed NuORDER without leaving the platform. Retailers can also now connect multiple NuORDER buyer accounts, ensuring that all orders—regardless of who placed them—seamlessly sync to the POS. Now, when retailers import a NuORDER PO, the supplier name will automatically populate—saving time and reducing manual errors.
- Lightspeed NuORDER expands partnership offering for brands
Brands now have two new ways to join Lightspeed NuORDER to work with Lightspeed's POS retailers. This offering makes it easy for brands to join Lightspeed's network and accept orders or share catalogs with POS retailers, helping them increase average order value, drive faster, streamlined reordering and maintain accuracy with product information. These offerings via NuORDER - Catalog and Connect are expansions to the existing NuORDER offering for brands wanting to collaborate with retailers using Lightspeed.
- Drive more gift card sales with Omni gift cards and promotions
Retailer's gift cards can now be redeemed in-store and online, a huge unlock for omnichannel retailers who can now manage one gift card platform for both channels.
Hospitality
- Drive traffic and online orders with Order with Google integration
Lightspeed Restaurants merchants using Order Anywhere can now increase their exposure and drive more traffic to their online ordering stores with Order with Google integration. This integration helps merchants gain more exposure, increase orders, and offer a convenient ordering experience, all leading to higher revenue and more business opportunities.
- Effortlessly divide checks by seat or cover on Tableside
Lightspeed's mobile POS, Tableside, just became more powerful. Merchants can now divide checks by seat or cover on a variety of devices powered by Lightspeed Tableside. This new functionality provides greater flexibility, ensures a smoother payment experience, and saves time for the customer.
- Lightspeed KDS enhancements make chefs happier
Two new KDS features launched, designed to make communication between front-of-house and back-of-house even better:
- Improve order accuracy with advanced production instructions. Merchants can now add custom production instructions to items, and this info flows seamlessly from the POS to KDS to minimize errors, and facilitate guest safety with clear, automatic allergen highlights on kitchen tickets so merchants never miss an allergen.
- Boost kitchen efficiency with consolidated items list. KDS now offers the capability to group identical items from all tickets into a consolidated list, allowing chefs to prepare items in batches, significantly reducing prep time and boosting kitchen efficiency.
To learn more about these new features, visit Lightspeed's website.
About Lightspeed
Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale, and provide exceptional omnichannel customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions, and connection to supplier networks.
Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange and Toronto Stock Exchange (NYSE: LSPD) (TSX: LSPD). With teams across North America, Europe, and Asia Pacific, the company serves retail, hospitality, and golf businesses in over 100 countries.
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Forward-Looking Statements
This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"), including information regarding Lightspeed's partnerships, product offerings and planned product roadmap. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under "Risk Factors" in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profiles on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Lightspeed Commerce Inc.
For further information: Lightspeed Media Relations: [email protected]; Lightspeed Investor Relations: Gus Papageorgiou, [email protected]
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