Global commerce leader pioneers direct
integration of small and medium-sized businesses with
industry-leading suppliers
MONTREAL, Jan. 12, 2021 /CNW Telbec/
- Lightspeed (NYSE: LSPD) (TSX:
LSPD), a leading provider of cloud-based, omnichannel commerce
platforms, today announced the initial availability of the
Lightspeed Supplier Network for North American retailers.
The launch of the fully integrated stock ordering solution
transforms supply chain management for SMBs, democratizing access
to the strategic inventory visibility once reserved predominantly
for enterprise retail and eCommerce giants as the global COVID-19
pandemic continues to place pressure on supply chains in 2021.
This direct integration between businesses and brands provides
merchants with an automatically updating supplier catalog system,
easy order management tools and automated shipment handling
directly within Lightspeed's cloud-based platform. Lightspeed's
Supplier Network enables SMBs to more easily adopt a demand-focused
inventory model to remain nimble, placing independent businesses on
equal footing with large chains while providing suppliers access to
a ready-to-buy customer base and real-time sell-through data.
"Connecting SMB retailers directly to their suppliers through
the Lightspeed Supplier Network is nothing short of revolutionary.
This new tool enables independent businesses to discover new
products, more easily sell online and make better use of their
capital to strategically increase order frequency," said
Dax Dasilva, Founder and CEO of
Lightspeed. "The disruption of 2020 cemented the need for SMBs
to use technology to remain agile and the Supplier Network is
deeply in line with Lightspeed's mission to strengthen their
operational resilience."
"With the growing demand for bicycle-related products and supply
being lean, product curation and inventory visibility are key to
success for SMBs," said Charles
Bisaillon, Retail Success Leader for Specialized Bicycle
Components. "The direct integration our brand has with
Lightspeed creates an ecosystem that ensures our retailers have
full visibility of Specialized products to satisfy that growing
demand, a critical capability in 2021."
Key Advantages of the Lightspeed Supplier Network:
- A harmonized marketplace. Provides the same direct
supplier access and inventory visibility as the big box stores,
easily managed through a single platform.
- Automates manual ordering and consolidates supplier portals
in the POS. Improves transparency of when a shipment will
arrive and what goods will be included, shortening the receiving
cycle and getting items into consumers' hands more quickly.
- Makes new suppliers and products more discoverable.
Product details, including photos, are imported into the POS with a
click of a button, eliminating a barrier to selling online.
- Increases control of supplier branding. Easy import
workflow for retailers ensures merchants are using brand-approved
names, product descriptions and high-quality imagery.
- Provides suppliers aggregated and anonymized sell-through
data in real time. Brands are granted unprecedented visibility
of goods sold by independent merchants.
The Lightspeed Supplier Network will be initially available for
retailers in the Bike, Outdoor Sport, Jewelry and Pet verticals.
For more information and to become part of the growing marketplace,
please visit www.lightspeedhq.com/partners/supplier-network.
About Lightspeed
Lightspeed (NYSE and TSX: LSPD) powers complex small and
medium-sized businesses with its cloud-based, omnichannel commerce
platforms in over 100 countries. With smart, scalable and
dependable point of sale systems, Lightspeed provides all-in-one
solutions that drive innovation and digital transformation within
the retail, hospitality and golf industries. Its product suite
enables SMBs to sell across channels, manage operations, engage
with consumers, accept payments and ultimately grow their
business.
Headquartered in Montreal,
Canada, Lightspeed is trusted by favorite local businesses
worldwide, where communities go to shop and dine. Lightspeed has
staff located in Canada,
USA, Europe, and Australia.
For more information, please visit: lightspeedhq.com
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Forward-Looking Statements
This news release may include forward-looking information and
forward-looking statements within the meaning of applicable
securities laws ("forward-looking statements"). Forward-looking
statements are statements that are predictive in nature, depend
upon or refer to future events or conditions and are identified by
words such as "will", "expects", "anticipates", "intends", "plans",
"believes", "estimates" or similar expressions concerning matters
that are not historical facts. Such statements are based on current
expectations of the Company's management and inherently involve
numerous risks and uncertainties, known and unknown, including
economic factors. A number of risks, uncertainties and other
factors may cause actual results to differ materially from the
forward-looking statements contained in this news release,
including, among other factors, those risk factors identified in
our most recent Management's Discussion and Analysis of Financial
Condition and Results of Operations, under "Risk Factors" in our
most recent Annual Information Form, and in our other filings with
the Canadian Securities regulatory authorities and the U.S.
Securities and Exchange Committee, all of which are available under
our profile on SEDAR at www.sedar.com and on EDGAR at
www.sec.gov. Readers are cautioned to consider these and other
factors carefully when making decisions with respect to
Lightspeed's subordinate voting shares and not to place undue
reliance on forward-looking statements. Forward-looking statements
contained in this news release are not guarantees of future
performance and, while forward-looking statements are based on
certain assumptions that the Company considers reasonable, actual
events and results could differ materially from those expressed or
implied by forward-looking statements made by the Company. Except
as may be expressly required by applicable law, Lightspeed does not
undertake any obligation to update publicly or revise any such
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE Lightspeed POS Inc.