Intelligent Point of Sale outstrips growth targets for 2015
The disruptive technology company for the retail and hospitality sector, Intelligent Point of Sale has seen its turnover grow nearly 300 per cent to break through £1m in 2015 (only its second full year in business), as client numbers have more than doubled to over 1000 in the past ten months.
The creator of the cloud-based, iPad point of sale application intelligentpos®, Intelligent Point of Sale provides a low cost, cutting edge electronic point of sale system to businesses of all sizes and has found a particularly thriving market with pop-up and festival operations. Amongst an array of new clients, the Edinburgh-based entrepreneurial company has signed significant deals over the past year with events companies Underbelly and N2O.
The EPOS system enables businesses to start selling products quickly and easily, control and track sales and stock in real time, and clients range from pubs, bars, cafes, restaurants and clubs with a single till point in one location up to multiple till points in multiple locations, through to retail outlets such as VIP Electronic Cigarettes which has around 100 sites.
The company’s success - and appeal to investors - has also meant that with the hire of two senior executives, it is looking at a new product launch in 2016 and a similar boost to sales. Graeme Horsfall recently joined Intelligent Point of Sale as COO from Microsoft Services UK, where he was Chief of Staff and responsible for enterprise clients, while Andrew Calzetti joined as CMO from an international marketing role with NVIDIA. Both bring the big business thinking the company needs to continue its expansion.
From a staff of 14 at the beginning of 2015, Intelligent Point of Sale now employs 25, with another five to be recruited by the end of January 2016.
Paul Walton, the co-founder of Intelligent Point of Sale, said:
“This has been an exciting year for the company. We have outstripped all our targets achieving a firm foothold in the market. It is particularly satisfying that we have competed against and won business from the big US players trying to get established in the UK. Our experience of the hospitality industry and UK-based support services are beating back our US rivals.
“We are now in a strong position to continue growing, and with Graeme and Andrew’s expertise quickly mature the business, its processes and its thinking to expand our customer base and product range.”
The company, which secured £550,000 of investment earlier in the year from 24Haymarket and the East of Scotland Investment Fund, is now well placed to win further funding from the Scottish Edge Awards. This will be announced on 7th December 2015.
Notes to editors:
Intelligent Point of Sale Limited
1. Edinburgh-based Intelligent Point of Sale Limited supplies computerised cash register software and hardware to small and large businesses throughout the UK and the world.
2. The product – intelligentpos® - is an iPad and cloud-based point of sale application which allows businesses to process transactions with portable and flexible hardware and software.
3. intelligentpos® allows business owners to remotely monitor their commercial activity, manage staffing levels and alter products and offers.
4. intelligentpos® is fully integrated with mature POS apparatuses such as chip and pin provider Verifone, and Xero – the world’s number one cloud accountancy system.
5. intelligentpos® is a hybrid cloud system, meaning that it is not internet reliant.
6. Founded in October 2012 by business partners Robin Knox (age 28) and Paul Walton (age 29), Intelligent Point of Sale Limited employs 25 members of staff in Edinburgh.
7. intelligentpos® packages start from £39 plus VAT per month for the use of one iPad.
Elizabeth Lambley, Indigo, 0131 554 1230