SynergySuite Raises Investment to Bring Next-Gen Hospitality Technology to Food and Beverage Chains in the U.S.
Apr 26, 2016, 01:35 ET
MENLO PARK, Calif., April 26th, 2016 /PRNewswire/ -- Irish Hospitality SaaS company, SynergySuite has closed an investment round with Oyster Capital Partners to bring its powerful cloud-based restaurant management solution to restaurant chains in the United States.
SynergySuite was founded in 2011 to provide hospitality businesses with cloud technology to operate and grow their capability. The company has established itself as a leader with restaurant and bar chains across the UK and Ireland by helping them streamline backend operations and unlock value. "For eateries or bars operating multiple locations, currently they could be using up to 11 diverse software systems in addition to a point-of-sale system to manage their business," said Niall Keane, CEO and co-founder of SynergySuite. "This means data is siloed, head office receives limited & delayed insights on outlet performance and it creates more reporting work for managers, which means more time spent in the office and less time out front running the business."
SynergySuite has developed tools to manage every part of running a hospitality business, from inventory tracking and supply-chain management, to monitoring cash movement, controlling HACCP procedures and managing labour scheduling & payroll. The platform seamlessly integrates with Point-of-Sale systems and accounting platforms to provide executives and managers with real-time access to data and key metrics.
"Running one outlet is no small feat. But running 40 or 100? That becomes very challenging, as problems like waste, overstaffing, HACCP compliance and cash management become harder to control and have a huge impact on profitability. SynergySuite empowers customers with real-time insights to avoid problems before they happen and to make better operational decisions," said Keane.
Businesses pay a simple monthly fee per outlet. There are no major upfront software installation fees, no ongoing implementation charges and no software upgrade or maintenance costs. SynergySuite is easy to implement, operate and quick to deliver a return on investment. Noel Goddard, Operations Director at Chicago based Bounce Ping Pong says "SynergySuite is invaluable to our business, we are adding 4% on our Gross Profit in each location. I know what is happening in any of our venues before I walk in there. I have all the data I need in the palm of my hand."
About Oyster Capital Partners
Oyster Capital Partners is a venture capital firm focused on high potential businesses in the Software-as-a-Service (SaaS) markets, Healthcare opportunities and Energy technology. The team at Oyster Capital have unique expertise and experience in the Cloud Computing market having founded, built and exited highly successful businesses in the space.
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SOURCE SynergySuite