Firm believer of ‘With the right technology, business owners can sell more, make their customers happier, and actually make the world a better place’, Lightspeed was founded with a motto and that was “retail made simple”.
Lightspeed designs POS, omnichannel, restaurant and eCommerce software for independent businesses (retail and restaurant) that allow them to fully manage day-to-day sales, inventory, and employee and customer profiles.
The company is celebrating its 12th year – a milestone in the retail tech industry – Lightspeed currently powers 45,000 global customers and manages $15B in transactions across 101 countries.
Dream of a True Leader
The idea of “retail made simple” was actually of Dax Dasilva, Founder & CEO of Lightspeed, a leader who knows that there are no limits for dreams. Dax is the creative mind behind Lightspeed’s suite of retail, hospitality and eCommerce tools. Seeing the technological evolution of how people live, work and shop, and the need in the market for cloud-based business platforms, he was ahead of the curve when he launched Lightspeed in 2005.
Lightspeed focused on building the best product in the early years, and did not take investment until 2012. The company grew exponentially after this from 50 to 600 employees’ to-date. While it is possible that early investment may have resulted in quicker growth, there were benefits of keeping the company scaling slowly at first, such as building strong culture, innovating the technology, solidifying the brand’s place in the market – before major growth.
Perfect POS Solution
Inspired by the design and the simple navigation of the original iTunes playlist, Lightspeed first created a retail POS. Over time, the company evolved to offer mobile checkout, cloud-based technology, an omnichannel product and a restaurant platform. A cloud-based POS allows retailers to access their business and meet their customers anytime, from anywhere in the world.
Lightspeed recently launched Analytics, giving independents the feeling of working with a store-side data consultant that provides access to various insights of the business.
Team, the Integral Part of Success
Dax firmly believes that Lightspeed is a company “infused with culture, just as much as code”. Company culture can’t be built overnight – and you must consistently be open to change with a globally expanding company. As Lightspeed grew from their bilingual home base in Montreal to seven offices around the world, they recognized that each team is going to have their own unique culture.
“Connectivity within your teams becomes key to bringing talent together from all different areas, and it’s a full-time job leading the cultural bridge between different people within the company”, adds Dax. Diverse workspaces make it especially important to meet employees at every level and make people feel they can do the best work of their lives, while equally contributing to the company’s goals and successes in a meaningful way.
Customer on Top of the Priority List
Lightspeed prides itself on a customer-centric approach, and they frequently engage their customers to best understand their needs. Recently, Lightspeed launched a series of global Retail and Restaurants Roundtables with independent businesses in the UK, Netherlands, Belgium, and Canada – with an additional event planned in NYC for fall 2017. The roundtables offered the opportunity for retailers from different industries to speak candidly with Dax and media/influencers, about changes and evolutions in the retail landscape – locally and globally, trends affecting their businesses, how they found success as entrepreneurs, and everyday challenges of running a business. These fruitful discussions will act as a catalyst for change and innovation at Lightspeed, as the company moves through its 12th year.
The X Factor of Lightspeed
Lightspeed has an X Factor, which makes the company the best POS solution out there! It includes, the Customer-centric approach – Listening to the independents and determining their needs, so Lightspeed can continue to innovate with technology that will help independents do better business.
Forefront of innovation – Since the early days of Lightspeed, Dax saw a need in the market for a POS solution that offered a comprehensive look at a business, plus agility and mobility – Lightspeed continues to be strong innovators in the industry.
Lightspeed’s home in Montréal – The city is Canada’s emerging tech hub – a bilingual merging of culture, arts, history and technology. The thriving and versatile city has given Lightspeed the opportunity to grow into the successful global company that it is today.
Company culture – All Lightspeed’s offices are infused with a unique work culture, allowing open and collaborative work. Lightspeed HQ is housed in the historic Gare Viger – a renovated castle-like former railway station and luxury hotel in Montreal.
‘POS of Future’, From Dax’s Point of View
Omnichannel is taking the lead in POS innovation this year. The key to being truly omnichannel is meeting your customers wherever they may be, and that includes markets beyond your home state or country Lightspeed enables businesses to do just that. To have success in the market, all branches of retail have to be seamlessly linked.
Lightspeed will continue to produce POS solutions that support independent business owners and help them achieve their dreams. “Lightspeed is on a quest to save city streets. The independent retailers and restaurants that we know and love, are a key ingredient in making the neighborhoods that we know and love, so special. Our tools have been desigined specifically for these businesses and will adapt with them as retail evolves”, asserted Dax.
