H&C News meets with suppliers regularly to keep up to date with the latest product and service innovations, aiming to get the inside track on what companies offer to the market and how it is delivered.
This week, we met with Robin Knox, Founder and CEO of Intelligent Point of Sale at their offices in Edinburgh to gain a better understanding of the business.
Robin Knox, Founder and CEO of Intelligent Point of SaleIntelligent Point of Sale is the creator of the cloud based, iPad point of sale application intelligentpos, a low cost, cutting edge EPOS system that enables businesses to start selling products quickly and easily, control and track sales and stock in real-time, from any location.
1. Intelligent Point of Sale is still a young company, less than three years old, and yet you’ve come a long way in that time to become one of the market leaders in EPOS systems. What is behind such a rapid rise?
Robin Knox: The idea to create intelligentpos came through a genuine need that I encountered as I set up my own business. I needed an EPOS system that would provide good sales reporting and keep track of stock but, the existing systems on the market were very expensive to buy and the additional ongoing monthly fees completely beyond what was feasible for a start-up.
I started to have conversations with Paul Walton, my co- founder at Intelligent Point of Sale, who had experience of building apps, and we started to build the intelligentpos app.
Having come from a hospitality and retail background, we were able to use that personal experience to identify the gap in the market, what features were important and how it should be priced. That experience has continued to be important. We understand our client base.
That said, the real driver became the desire to put the business tools and trading power of an international corporate in to the hands of a start-up, small business or independent sole trader. That ethos hasn’t changed over the past three years and I think we are recognised as a company able to make people’s lives easier.
We have had the support of investors, beginning with The Prince’s Trust, business mentors and a very strong team of developers which has given us the opportunity to forecast customer requirements in advance and allow intelligentpos to stay ahead of competitors.
We were the first in Britain to market a home grown iPad based till system for UK retail and hospitality users. We now employ more than 30 staff and our client base is international.
2. Why was the EPOS market ready for a disruptive technology like yours?
Traditionally, a new till set up and EPOS system would cost around £3,000 which is prohibitive for many businesses. At the same time, new technologies are being developed which drive down the cost of many business operations. We saw the need and the opportunity.
Alongside intelligentpos software, consumers have the option to purchase hardware, so it is an easy set up. The software comes with UK based support that runs seven days a week from only £39 per month for a single iPad Terminal and £29 per month per device for additional terminals. The app itself is free to download.
The hospitality market has changed a great deal over the past few years with the increase in pop-ups, festival operations and the need for mobility. We’re also seeing advances in payment systems such as contactless and how we access information online from any location, any device, anytime. Our software responds to all of these new pressures on a business and answers the need for speed, ease and adaptability.
The intelligentpos software now competes alongside large American EPOS providers, but it is a much leaner operation than its larger US competitors and as such it is able to boast a much more resilient and adaptable market position.
3. Given the speed with which technology is changing, what should operators look for when investing in a new EPOS system so that’s it’s not considered ‘out of date’ too quickly?
A cloud-based system is the way forward. Not only does this accommodate businesses that are expanding and need to scale up the number of till points and locations, but it can also mean that updates are easy and automatic. For instance, it is possible to future-proof an EPOS system with intelligentpos by downloading regular and totally free updates from the App Store.
Training and ongoing support is an important consideration when looking at new EPOS systems as many are provided by US suppliers. Intelligent Point of Sale is UK based, with a UK based team of experts on hand to support our clients. Online support is included free of charge and it is possible to raise a support ticket or give feedback directly from the iPad.
4. What new developments are you looking at in the near future?
We have a full programme of product development based around our ethos for putting big business tools into the hands of companies of all sizes.
With that in mind, we are looking at integrating accounting software which will enable businesses to automatically transfer everyday sales to HMRC–ready spreadsheets and tax forms. Working with another cloud based software service we could make filing VAT and tax returns an easy and low-cost process, saving time and money for the many clubs, pubs, cafes and retail outlets that can gain from a cutting-edge EPOS system.
Our software already supports loyalty schemes, gift cards and table and deposit management. The system is also fully integrated with contactless payments and Apple Pay.
Further down the line, we will be releasing product updates that support more advanced loyalty functionality such as order on the way and order from the table.
The key is that we stay close to our customers to know what’s coming and what will make a difference to their businesses.
H & C News comment – We enjoyed meeting with Robin and we will be following his and Intelligent Point of Sale’s progress with interest.
Contact details:
Address: Intelligent Point of Sale, (Sales) Limited
Top-Floor, Admiral House, 29-30 Maritime Street, Edinburgh, EH6 6SE, UK
Tel: 0800 404 5805 or 0333 202 1025
E-mail Intelligent Point of Sale info@intelligentpos.com
For more information about Intelligent Point of Sale click here