Micro Market Business Optimization Solution Offers Greater
Efficiencies and Streamlined Operations to Owners and Operators
MALVERN, Pa.--(BUSINESS WIRE)--
Technologies, Inc. (NASDAQ:USAT), a premier payment technology
service provider of integrated cashless and mobile transactions in the
self-service retail market, today announced the expansion of its newly
acquired micro market optimization solution, Seed Markets™. The
cloud-based and mobile solution was introduced in March 2016 in a
limited-test deployment, bringing select micro market operators the same
service efficiency tools already available for vending through Seed Pro™
and for office coffee services (OCS) through Seed Delivery™. Dozens of
customers have since signed on to use Seed Markets, including All Star
Services, One Source Office Refreshments, K&R Vending, Imperial
Companies, CL Vending, Southern Canteen, and Gulf Coast Canteen.
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Operators can simplify their operations by standardizing a single set of mobile and web-based tools for markets, vending, and OCS. (Photo: Business Wire)
According to the most recent NAMA Industry Census, micro markets is the
fastest growing segment in unattended retail convenience services, with
total revenue between 2014 and 2016 increasing by more than 154 percent.
"Self-service markets are gaining momentum as the business model evolves
and businesses respond to groundbreaking, new self-service shopping
experiences like Amazon Go. But as smart owners and operators look to
add these new channels to their portfolio in any scale, they often
struggle with separate business platforms and, consequently, separate
inventory for vending, OCS and micro markets. This lack of integration
creates costly duplication in warehousing, drivers and back-office
processes," said Michael Lawlor, Chief Services Officer, USA
Technologies. "We found, through the success of the pilot program, that
offering the same tools for micro markets that operators use on their
vending and OCS business gives them the ability to better manage
operational costs and increase efficiencies. All Star Services has also
reported an increase in revenues collected per visit during the first
six months of use of Seed Markets. We are thrilled to be able to offer
it to all micro market operators as this industry continues to grow."
With the implementation of the new NAMA standard on VDI VMS/MMS
integration, USA Technologies now has the ability to accelerate the
integration of Seed Markets with micro markets on which the NAMA
standard has been implemented, as the standard eliminates delays
stemming from unique development work that would otherwise be required
to integrate Seed Markets with the various micro markets.
"We have seen remarkable results since integrating with Seed Markets,"
said Duncan Smith, COO of All-Star Services. "Servicing markets is 30-50
percent faster, revenue per visit has increased because markets are
better stocked, and we've reduced the time it takes to pick beverage
orders from the warehouse by 33 percent. Seed Markets has also saved
time on re-stocking by reducing the amount of product being brought back
from the field to the warehouse."
Tim Greble, Director of Markets at One Source Office Refreshments also
noted, "Our primary focus has been to dissolve our market-only routes,
and create fully integrated market/vending routes, while maintaining a
strict inventory schedule. With our newly integrated routes, we believe
we can add new market and vending business in the Philadelphia region
without adding any additional trucks or drivers on the street, which
will help us build a foundation for future growth."
Seed Markets Features Available to Operators
One Standard Set of Tools: Operators can simplify their
operations by standardizing a single set of mobile and web-based tools
for markets, vending, and OCS. Drivers can now use the same Seed
Mobile™ driver handheld app to service markets, as well as vending
machines and OCS stops. This minimizes time spent on training and
eliminates the need to switch applications or devices. Seed Mobile
also features market-specific enhancements such as laser barcode
scanner support that make inventorying much faster.
Simplified Route Management: Route schedules for markets,
vending and OCS can all be managed in the same web-based interface.
Schedules can be market-only or mixed with vending and/or OCS. Markets
can even be split across routes, where a market's snack racks and
drink coolers can be serviced by a regular vending driver, while a
market's food coolers can be serviced on a food route. Dynamic
Scheduling helps to avoid wasting valuable route labor on markets or
sections of markets that don't need service.
Efficient Warehouse Pre-Picking: Seed Markets simplifies an
operator's warehouse operations as well. Operators no longer need to
train warehouse employees on multiple systems, because the same Seed
Office™ web and mobile apps now handle inventory management and
accountability for markets, vending and OCS. For operators who want to
pre-pick market orders with vending orders on the same route, Seed
Markets supports a "one pass" pre-pick operation that allows markets
and vending machine pre-picks to be selected at the same time,
increasing picker efficiency.
Single Reporting Interface: A simplified back-office providing
a single reporting interface for markets, vending, and OCS business.
Financial reporting can be run across all three lines of business in a
single report, making a rolled-up customer P&L or Category P&L easy to
generate without having to manage data from multiple systems.
Operational reporting is also consolidated, allowing the generation of
driver and route performance metrics across vending, markets, and OCS.
Cash Accountability: Reconcile cash collected from markets with
cash counted in the money room, enabling the reduction of cash
shrinkage and better oversight of cash flow.
"With the integration of Seed Markets with the micro markets supplied by
365 Retail Markets completed, operators are already taking advantage of
Seed Markets to manage all of their 365 markets," said Anant Agrawal,
EVP Corporate Development, USA Technologies. "Yoke and Company Kitchen,
two other micro market providers, expect to integrate their micro
markets with Seed Markets in the near future, and we expect other major
providers will follow."
The news comes on the heels of the company's recent announcement and
what we consider to be strong customer interest in USAT's expanded
end-to-end enterprise services with the addition of Seed Pro and Seed
Office solutions to its cashless payment platform following its
acquisition of Cantaloupe Systems on November 9, 2017. The acquisition
added logistics, dynamic route scheduling, automated pre-kitting,
responsive merchandising, inventory management, warehouse and accounting
management to USAT's existing portfolio of cashless payment, loyalty and
consumer engagement services. The expansion of Seed Markets further
extends USAT's enterprise offering for self-service unattended retail
USA Technologies: https://usatech.com/
Sales and Partnership Inquiries:
Please contact USA Technologies, Inc. at +1 800.633.0340 or firstname.lastname@example.org.
About USA Technologies:
USA Technologies, Inc. is a premier payment technology service provider
of integrated cashless and mobile transactions in the self-service
retail market. The company also provides a broad line of cashless
acceptance technologies including its NFC-ready ePort® G-series, ePort
Mobile™ for customers on the go, ePort® Interactive, and QuickConnect,
an API Web service for developers. Through its recent acquisition of
Cantaloupe Systems, Inc., the company also offers logistics, dynamic
route scheduling, automated pre-kitting, responsive merchandising,
inventory management, warehouse and accounting management solutions.
Cantaloupe Systems is a premier provider of cloud and mobile solutions
for vending, micro markets, and office coffee services. USA Technologies
and Cantaloupe Systems have 85 United States and foreign patents in
force; and have agreements with Verizon, Visa, Chase Paymentech and
customers such as Compass, AMI Entertainment and others. For more
information, please visit the website at www.usatech.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: All statements other than statements of historical fact
included in this release, including without limitation the business
strategy and the plans and objectives of USAT's management for future
operations, are forward-looking statements. When used in this release,
words such as "anticipate", "believe", "estimate", "expect", "intend",
and similar expressions, as they relate to USAT or its management,
identify forward-looking statements. Such forward-looking statements are
based on the beliefs of USAT's management, as well as assumptions made
by and information currently available to USAT's management. Actual
results could differ materially from those contemplated by the
forward-looking statements as a result of certain factors, including but
not limited to, the ability of USAT to predict future market conditions
and customer response to Seed Markets; the possibility that all of the
expected benefits and efficiencies from Seed Markets, including
improvements in efficiencies and revenue, and scalability, will not be
realized by all micro market operators and on all micro markets or
within the expected time period; whether the micro market segment of
unattended retail will continue to grow at the current pace; the pace at
which micro market operators adopt the NAMA standard for VDI VMS/MMS
integration; and whether and when USAT will complete integration of Seed
Markets with micro markets supplied by certain providers. Readers are
cautioned not to place undue reliance on these forward-looking
statements. Any forward-looking statement made by us in this release
speaks only as of the date of this release. Unless required by law, USAT
does not undertake to release publicly any revisions to these
forward-looking statements to reflect future events or circumstances or
to reflect the occurrence of unanticipated events.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180222005552/en/
Emily Porro, +1 347-346-3663
Monica Gould, +1 212-871-3927
Source: USA Technologies, Inc.
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