Coventry fintech start-up has high hopes for its restaurant point of sale offering
Coventry-based Fintech start-up Olouris, which provides cloud-based point of sale software to restaurants, has plans to rapidly expand in the new year.
The newly launched company has taken up residence at the Business Innovation Centre, Binley - part of the University of Warwick Science Park.
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It was co-founded by Ahmed Sadeeq, who previously operated traditional electronic point of sale (EPOS) business EPOS Anytime.
Olouris software can be downloaded as an app and used on a smartphone or tablet, negating the need for traditional tills to process customer orders and payments - reducing initial costs for businesses because they don't need to buy a separate card reader.
"This is a huge advantage to businesses as they don’t need to invest in costly hardware to get a POS setup," said Sadeeq, technology delivery lead and co-founder at Olouris, who added that feedback from potential customers revealed that EPOS terminals were often considered too costly.
"Initial outlays for a basic terminal can cost around £1,200 for the customer, and are not suitable for certain hospitality businesses like food trucks that have limited space.
"It also means that any changes to the system can be done remotely by the customer instead of having to be at the terminal thanks to our cloud-based system we now use.
"Our app is also full of features such as gift card and loyalty support, integrated kitchen display screens, self-service kiosks, real-time food wastage control and has a powerful online reporting suite," he said.
"It can also be used for table reservations and order processing by using VoIP, something which no other POS providers are offering," he added.
"We’ve already had very positive conversations with interested clients, and we’re confident of growing our customer base as single and multi-outlet companies see the benefit of what we can offer."
Olouris is already gaining attention from both quick-service-restaurants and table service ones.
The Business Innovation Centre offers start-ups incubator offices through its 'Ignite' programme, which is designed to help young firms access Science Park resources and business support.
"Victoria, Dirk and the team at the Business Innovation Centre were brilliant in finding us a new space," added Sadeeq.
"We’re already in discussions about setting up a product showcase event for prospective clients and partners in the new year, so I’m confident we can hit the ground running now that we’ve officially launched."
Victoria Lynch, centre manager at the Business Innovation Centre, added: "We have regularly seen companies starting out in our Ignite offices quickly outgrow them to move into bigger spaces within the Business Innovation Centre following the business advice and support we provide as part of the programme.
"It’s great to see Olouris has settled in so quickly and we’re looking forward to helping Ahmed and the team grow the firm during their time here."
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