Oliver has developed a Software-as-a-Service product that enhances retailers’ point-of-sale, or POS, capabilities. Its sales – which now extend into more than 70 countries – have surged with the global wave of merchant technology digitalization amid the global pandemic.
By teaming up with Southfield, Mich.-based Nexcess, Oliver POS is able to reach more bricks-and-mortar retailers that are developing ecommerce businesses.
“It’s a major thing for us,” said Oliver POS Chief Executive Mathias Nielsen in an interview. “They [Nexcess] host more than 1 million websites and they’re a big U.S. provider. . . . Usually, POS companies have payment processing partners but we’re one of the only ones that have partnered with a web-hosting company.”
Oliver POS’ cloud-based technology provides retailers with real-time insights into inventory, products, sales, orders, customers, and more. The software lets merchants manage both online and in-store channels on a single platform. Providing real-time visibility into stock levels and a buyer’s history gives merchants an easy way to boost sales and personalize the retail experience to every customer, says the company.
Nexcess, a Michigan-based company that offers ecommerce hosting, said in a statement it will be the first solution provider to include this much-needed technology in its managed WooCommerce offering.
“New application opportunities that elevate the customer experience and drive revenue at point of sale are limitless,” said Chris Lema, Vice-President of Product at Nexcess. “As ecommerce channels expand, the need for tech and data synchronization becomes even more important. We’re excited to be leading the way through open source innovation that provides tremendous value to the industry.”
Having added 14 staff in the last three months, Nielsen said Oliver POS is continuing to grow and is hiring staff in several disciplines.
The Newfoundland and Labrador company is already growing more than three times faster than last summer, when it raised $3.2 million in equity funding from a group of European angels. At that time, the company was onboarding about 8.5 customers a day, but that number has now risen to 30 new customers each day.
Nielsen, who won regional IT accelerator Propel's Gerry Pond Award for sales last summer, said the company has barely scratched the surface of its total potential market.
“We see it growing a lot more,” he said. “We want to see 100 [new customers] a day by mid-February. . . . We haven’t even got started – 99.99 percent of our market doesn’t even know that we’re there yet.”