Oracle's POS Chosen by Paytronix to Boost Digital Experience
Oracle ORCL recently announced that Paytronix cloud-based Oracle MICROS has selected Simphony Point of Sale (POS) solutions to integrate with its Order & Delivery platform. In this way, restaurateurs can improve the digital experience for their customers.
With MICROS POS integration, the Paytronix Order & Delivery Platform can now display information on lead times and out-of-stock items, as well as opening times, and display online order menus on both desktop and mobile devices.
The Oracle POS-Paytronix Order & Delivery integration offers small brands improved IT support as the latest installations are automatically updated. Large brands with a larger number of branches can add the updates to all branches at the same time using cloud technology, thus saving time.
Oracle Corporation Price and Consensus
Oracle Corporation Price and Consensus
Oracle Corporation Price Consensus Chart | Offered by Oracle Corporation
In addition, brands that have a delivery partnership with Uber Eats, GrubHub and other such platforms can use the MICROS POS integration to add orders and offer their customers various contactless payment alternatives. It will also help brands increase demand for their roadside collection facility.
In particular, Paytronix is a well-known SaaS (Software as a Service) provider for customer experience management solutions, which are mainly used by restaurants and convenience stores in Europe and North America. The company's Order & Delivery platform makes it easy to manage digital orders. The platform has a user-friendly ordering interface for mobile phones and desktops and offers the integration of loyalty programs.
The latest deal win is positive for Oracle's POS system and is expected to add to revenue in the coming quarters.
Growing Demand for Cloud POS: Key Catalyst
POS systems are increasingly being used by companies, especially restaurants and retail stores, as they perform numerous tasks in addition to payment processing such as inventory and personnel management as well as sales and customer data analysis.
The coronavirus-induced shelter-in-place guidelines have given digital commerce, including online ordering and delivery of groceries, a boost. In addition, the shift in customer preferences towards cashless transactions and the increasing need for additional payment options are driving the demand for POS systems.
As a result, restaurants are struggling to revamp the digital experience for customers and drive sales growth in the face of deteriorating conventional business prospects.
According to a report by Grand View Research, the global Restaurant POS Terminal market is expected to have a CAGR of 6.8% between 2020 and 2027. The cloud segment is expected to expand with the highest CAGR in the projected period.
According to the Mordor Intelligence report, the Cloud POS market is projected to have a CAGR of 24.2% between 2020 and 2025. Cloud POS systems store data via the cloud and simplify the problems of maintaining / updating the software while also proving to be cost effective. Improved scalability is also leading to rapid adoption of cloud POS, especially in industries where end-user management is paramount, such as hospitality, retail and media, the report added.
We believe that improved spending by restaurateurs on digitally transforming their business processes will increase adoption of Oracle's restaurant POS solutions, which is positive for this Zacks Rank # 3 (Hold) company. The full list of today's Zacks # 1 Rank (Strong Buy) stocks can be found here.
The company's cloud-based restaurant POS solutions provide restaurateurs with simplified management of restaurant operations by streamlining inventory and marketing practices and computerizing everyday tasks. They also offer faster updates of changes in the menu and the arrangement of the work schedule of employees.
However, the rising cost of strengthening its POS offering amid stiff competition from other tech companies like Square SQ, Hewlett Packard HPE, Light Speed, and Shopify SHOP in this space are persistent overhangs for Oracle.
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