Andy Young, editor TheShout
The hospitality point of sale sector has experienced incredible growth and development in recent years and provider Impos expects that trend to continue.
Impos saw record growth in its 2016 financial year, with revenue up 11 per cent on the previous year and has said that it plans to invest $1.5 million into the research and development of new technology.
Sean O’Meara, CEO of Impos, said: “The PoS market in Australia is changing rapidly and this will lead to some aggressive consolidation and attrition in the next few years. Today there are around 40 players in the PoS market, but in five years’ time we expect there will only be about 10 players in the space.”
One indicator of just how quickly this market can change is shown in the rapid move away from POS hardware towards tablets. In the two years since July 2014, the market has seen tablets grow from being less than 20 per cent of sales to the café, restaurant and bar sector to more than 40 per cent of sales into this sector.
O’Meara added: “To survive in this disruptive market, you need to be constantly looking at trends, evaluating how this will impact your business, and adapting to survive.”