US-based IT start-up Leapset intends to expand its reach, from a current client portfolio of 98 restaurants in the US state of California, to the entire US market during 2013. It also expects to expand into the UK and Spain, and even Singapore and Malaysia, over the same period, according to Shanil Fernando, a Partner [...]

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The Sundaytimes Sri Lanka

Leapset to take its online POS offerings US-wide in 2013

By Jagdish Haithiramani
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Shanil Fernando

US-based IT start-up Leapset intends to expand its reach, from a current client portfolio of 98 restaurants in the US state of California, to the entire US market during 2013.

It also expects to expand into the UK and Spain, and even Singapore and Malaysia, over the same period, according to Shanil Fernando, a Partner at the company, which has a 60-employee software development centre in Sri Lanka.

Mr Fernando said part of Leapset’s expansion plan also includes tapping the around 400,000 restaurants supplied by its partner Sysco, which is a major food distributor in North America, as well as an investor in Leapset.

Leapset, which recently went in for venture capital funding that earned it a US$ 22 million (Rs. 2.8 billion) valuation, offers an online Point of Sale (POS) suite to merchants, currently just restaurants. Its basic services, which cost merchants just US$ 3 (just under Rs. 400) per day, gives users a range of services including order taking and processing capabilities as well as process automation benefits. It also offers premium services such as Order Pad, which allows servers to send orders to kitchens electronically, at an added cost of US$ 1 (Rs. 128) per day.

Not only does Leapset offer merchants benefits related to efficiencies and data acquired via process automation, but it also provides other real world benefits, says Mr. Fernando. These include collective bargaining undertaken by Leapset, on behalf of the merchants it represents, to drive down merchant credit card charges, etc. Mr. Fernando also noted that, while Leapset was currently only in restaurants, it was also planning, as a part of its expansion, to grow to encompass other types of businesses, from small shops selling mobile phones, and other products, and beyond.




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