Lightspeed Retail Adds New Features to Its Best-in-Class Inventory Management Software

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Jul 10, 2019, 07:00 ET

Leading global POS software, Lightspeed, introduces new features to better manage product stock, giving independent retailers more control over their daily operations

MONTREAL, July 10, 2019 /PRNewswire/ - Lightspeed (TSX: LSPD), a leading provider of omnichannel point of sale software, solutions and support systems for independent retailers and restaurants, with over 49,000 customer locations, today announced the addition of new inventory-focused features to Lightspeed Retail's extensive suite of tools. As a leader in the industry, these features will help Lightspeed deliver unparalleled inventory management control, offering retailers added insight into how their business is truly performing.

"There has been an increasing demand for a measurement tool to help retailers in complex verticals better manage the surplus or shortage that frequently arises as a result of product shifts," said Dax Dasilva, Founder and CEO of Lightspeed. "These features help our customers fully understand what factors are affecting their stock, from overselling items to purchase orders, so that they can plan their product operations accordingly."

WHAT'S NEW IN LIGHTSPEED RETAIL

Negative Inventory Report: Retailers can determine the source of common issues resulting in stock deficits through comprehensive inventory reports, accounting for product both through Lightspeed Retail and Lightspeed eCommerce to maintain updated, accurate inventory information
- Omnichannel Impact: Smart and seamless management of pre-orders and back orders, whether in-store or online, which can be accessed through the negative inventory report
Home Data-Driven Dashboard: Focuses on the shop's overall goals, including revenue, margin, profit, sales, discounts and refunds
Vendor Returns: Redesigned to make it easier for merchants to manage inventory, including quantities on return orders
Newly Supported Images Dimensions and Formats: Enables merchants to showcase their products online in more detail, thus helping the luxury verticals to deliver compelling experiences and increased sales.

Existing Lightspeed Retail customers have already seen a positive impact on their daily operations from using the newest features.

"The negative inventory feature in Lightspeed has made my stock control absolute heaven," said Theresa Pederson from lingerie retailer, Bodacious Bustlines.

"With the improvements that Lightspeed has made to their inventory controls we are able to maintain a more accurate picture of what we truly own," said Tim Black from outdoor guide service and retail store, NOC Adventure Center.

"I live by my numbers; the inventory and the margins must be correct," said Lori Ashcroft from baseball organization, West Michigan Whitecaps. "Using the negative inventory report, I can see at a glance where my negative inventory is. Using negative inventory has also worked really well with our eCom backorders. Ever since we started using it, I haven't had a single problem; it's worked perfectly."

IN THE PIPELINE

iOS for Retail POS App: A sleek redesign for an elevated mobile POS experience with new smoother workflows
Retail Sales Ledger: Newly designed and easy-to-use, this feature allows cashiers, and store owners to get quick access to open sales and sales data for an improved sales workflow.
New import improvements: Aimed at helping customer reduce the time it takes to get set up, importing items into Lightspeed has never been easier thanks to the improvements to data migration from other platforms and increasing the available sku limit.

EXISTING INVENTORY-FOCUSED FAN FAVOURITES

Manage stock through cost and margin tracking
Take full control of inventory ordering from purchase orders and transfers to vendor returns and special orders
Keep inventory moving and stay on top of stock quantities by using reorder points and inventory levels
Access to over 14 million pre-loaded supplier catalog items to find new products to buy and sell

About Lightspeed
Lightspeed is a cloud-based commerce platform powering small and medium-sized businesses in over 100 countries around the world. With smart, scalable, and dependable point of sale systems, it's an all-in-one solution that helps restaurants and retailers sell across channels, manage operations, engage with consumers, accept payments, and grow their business.

Headquartered in Montréal, Canada, Lightspeed is trusted by favourite local businesses, where the community goes to shop and dine. Lightspeed has grown to over 800 employees, with offices in Canada, USA, Europe, and Australia.

For more information, please visit: www.lightspeedhq.com
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SOURCE Lightspeed POS Inc.