CED Tech Venture profile: Kiposlabs, expanding mobile point of sale capabilities

Durham startup Kiposlabs will be demonstrating its platform that helps restaurants capitalize on additional applications from mobile points of sale.

Its name references that point, based on the slogan “Your key to point of sale.”

Kipos – get it?

Kiposlabs is among the presenting companies at the CED Tech Venture conference.

This profile is the latest in a series published by WRAL TechWire in partnership with the CED.

The Q&A:

What is the focus of your business?

Kiposlabs provides cloud and mobile solutions for restaurants (Food & Services). Our solutions allow restaurants to effectively run multi-location (franchises) restaurant operations, manage guest services and efficiently process customer orders (both in-house and online/mobile). All our solutions are cloud enabled, POS (Point of Sale) integrated and delivered on both web and mobile platforms.

What is the top pain point/business application you are seeking to address?

In today’s world technology is moving the business forward. With the advancement in Cloud and mobile technologies, mPOS (Mobile Point of Sale) have taken a significant role in restaurant business. Kiposlabs plans on leveraging the mPOS platforms to provide integrated solutions for restaurants, which will allow them to efficiently manage every aspect of their day to day operations.

Using our solutions, a restaurant manager will be able to manage inventory across locations, waitlist/reserve tables for guest, run a paperless operation by allowing servers to take orders on a tablet and last but not the least accept online (web and mobile) order straight to the kitchen.

What makes it unique?

We are building a cloud enabled ecosystem of apps (web & mobile) that would allow a restaurant owners to get a 360 degree view of the restaurant operation. Every data point from inventory, guest, orders, payments and table operations is being captured within the ecosystem, which allows the merchant to analyze the data and get quantifiable insights into the operation of the restaurants. Since the solutions are POS(Point of Sale) integrated, the merchant can take the data across multiple POS systems. We are already partnering with Clover, poynt and Square POS systems to port our solutions to their POS platforms. We will continue to port our solutions on newer POS systems and increase compatibility across POS.

Why should investors be interested in your firm?

mPOS disruption provides a huge opportunity in the Food & Services industry. The mPOS market in Americas is expected to grow at CAGR of 51% during the forecast period 2016-2020. These new mPOS platforms provide big opportunity to provide solutions for multiple industries including restaurant, retail, hospitality etc. Our deep focus in developing solutions for the mPOS platforms gives us a big heads up in the leveraging the projected growth in this area.

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