By Austin DeNoce, Benzinga
In the world of commerce, the right technologies can empower businesses significantly, offering them an edge in an intensely competitive landscape. One of these is offered by Givex Corp. (OTCQX: GIVXF) (TSX: GIVX), an industry-leading SaaS name in customer engagement and point-of-sale systems and payments with omnichannel solutions in an all-in-one platform. Key among them are GivexPay and GivexPOS, two groundbreaking products that are propelling businesses across different sectors.
The Givex Ecosystem
Givex reports it has built an ecosystem that boosts sales and assists clients in making informed decisions by providing high-quality SaaS to merchants. Its platform hosts an array of tools like GivexPOS, Gift Cards, Loyalty Programs, GivexPay and Uptix Ticketing to manage operations, drive sales, harness analytics and increase customer engagement.
Givex maintains a focus on reliability and efficiency, as evidenced by its infrastructure distributed across 15 data centers, which delivers a reported 99.9% uptime. As a result, businesses have consistent access to its services. Additionally, the Givex support team averages response times of less than 20 seconds, underscoring the company’s customer-centric approach.
GivexPay: Seamless Transactions, Insightful Experiences
Developed in partnership with Adyen, a recognized global payment processing solution, GivexPay enhances the payment process. It facilitates seamless transactions and provides businesses with insights into customer behavior patterns to make insight-driven decisions, enhancing sales and customer experience. As an integral part of the Givex platform, GivexPay also offers competitive pricing and live support to assist businesses with their operational needs.
Additionally, GivexPay has an integration partner network that includes over 1,100 options, offering businesses a range of flexibility. The platform supports both standard and custom integration solutions, and Givex provides a free demo for businesses interested in exploring GivexPay's functionalities.
GivexPOS: A Comprehensive Business Solution
GivexPOS operates as more than a POS system; it’s an all-encompassing business solution. It is structured to integrate a wide spectrum of business functions, from payment processing to menu management. Furthermore, it is adaptable to various industry needs, offering specialized workflows, tools and reports.
In response to the growing trend toward contactless transactions, GivexPOS has incorporated contactless ordering and other touch-free functionalities. These features aim to facilitate tasks such as sales management, inventory tracking, staff handling and financial oversight with minimal physical interaction.
Additionally, GivexPOS's breadth is demonstrated by its range of features including integrated delivery services, Kitchen Display Systems (KDS), kiosks and mobile solutions like the GivexGo app – catering to diverse business requirements across various sectors.
The Broader Landscape And Givex’s Edge
The size of Givex’s total addressable market truly puts its potential in perspective. In 2022, the U.S. quick service restaurant (QSR) industry alone was estimated to reach an output of $275.7 billion. The full-service restaurant industry wasn't far behind, estimated to clock a total of over $76.5 billion. This growth signifies the importance of restaurants in both personal and professional lives, employing 12.5 million people.
With such an expansive industry, the need for reliable technology partners seems palpable and Givex has already become a go-to for a number of multi-unit restaurants, including The Captain’s Boil, Foodtastic, and BarBurrito. Each has leveraged multiple Givex products, underlining Givex’s promise of scalability, seamless integration and robust reporting. It seems evident that many that start with one Givex product soon discover its value and integrate more, a testament to Givex’s holistic approach.
The product also holds broad applications in multiple other sectors, such as the $5 billion retail industry where physical locations still command the lion’s share of the market and sports venues. Sports venues can make as much as $2 million in concessions sales on game day, and research from Oracle indicates the potential for POS solutions like the one offered by Givex in this market.
As industries continue to evolve, having a technology partner that is both reliable and innovative is more than beneficial – it's essential. Givex, with its suite of products and commitment to excellence, is establishing the gold standard for business solutions.
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