Lightspeed Commerce Announces Table Side; Roster of New Product Innovations Designed to Increase Customer Efficiency and Cost Effectiveness

New product features enhance customer service, insights and unified integrations for both retailers and hospitality providers

MONTREAL, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Lightspeed Commerce Inc. (NYSE | TSX: LSPD) announced today a combination of new product features and updates designed to help retail and restaurant customers across the globe to simplify and scale their operations. Powering the world’s best businesses, Lightspeed is the unified POS and payments platform for ambitious entrepreneurs who wish to accelerate growth, provide the best customer experiences and become a go-to destination in their space.

“With inflation remaining a chief concern amongst hospitality and retail providers, Lightspeed has focused on innovations that improve speed and efficiency, reducing the overall time and stress related to daily business management,” said JP Chauvet, CEO of Lightspeed. “We’re excited to roll out features like our new Tableside solution which provide a faster, more seamless order-taking experience, while Lightspeed Retail and NuORDER Order Integration simplifies the retail purchasing process. By simplifying their operations, we’re empowering entrepreneurs to elevate their business through exceptional customer service.”

Newly launched for U.S. customers in January, Lightspeed Tableside is a compact, portable, and flexible POS and payment processing device for restaurants looking to expand their ability to take orders and payments and gain flexibility in service.

With Lightspeed Tableside, servers can instantaneously process orders, improving the restaurant's speed and efficiency and improving the overall dining experience. This seamless process reduces wait times, increases table turnover, and improves customer satisfaction.

Other ways Lightspeed is elevating the customer experience across Retail and Hospitality industries include:

Retail

• Lightspeed Retail and NuORDER Order Integration save retailers hours per week: Lightspeed Retail is optimizing the purchasing experience. Now, retailers can order from thousands of brands they stock and love through direct integration with NuORDER by Lightspeed. The integration also lets them import purchase orders placed into Lightspeed Retail, saving hours in product creation and inventory management for every order placed. This new integration is available to Lightspeed retailers in the U.S., Canada, UK, Australia and New Zealand.

• Advanced Insights additions to Lightspeed Retail save money and time: New reports released to Advanced Insights subscribers help retailers reduce inventory waste and create more efficiency in their business. Dusty Inventory and Sell Through reports give a clear view of what needs stocking or what should be discounted, while Individual Performance and Sales by Hour reports help identify who's performing well, when. These reports quickly and easily provide retailers the insights they need to optimize every area of their business.

• Instant Payouts for Retailers: Cash flow is the most crucial part of running a business. With the launch of  Instant Payouts, eligible Lightspeed merchants will be able to access funds immediately after the transaction–even on weekends and holidays–and manage daily expenses, pay suppliers and invest in growth opportunities. Instant Payouts is available to Lightspeed Retail customers currently based in the U.S.

• Lightspeed Payments and accounting reconciliation on Lightspeed Retail: Embedded payments is a key value of Lightspeed Retail. This value now flows through to speed up and automate the reconciliation process through accounting connections with QuickBooks Online and Xero. By clearly recording deposits and transaction fees, reconciliation is done in a snap.

• Standalone Retail Payments: Available wherever Lightspeed Payments is offered, retailers now have the flexibility to process a payment without initiating the sale in their Lightspeed POS. Never miss a sale and reliably accept payments, whenever, wherever with standalone mode.

Hospitality