In an age where young software companies brag about how much debt and funding they’ve taken on, it’s refreshing to see that there are still companies out there with fire in their belly, old-fashioned values and zero debt.
Future POS is a traditional point of sale software company with a product that was built in the founder’s basement more than eighteen years ago, right here in the USA. It’s software is currently installed in over fifteen thousand restaurants across the United States. It is the brainchild of John and Kelly Giles. Giles, a software developer, developed the code from scratch and has continued to guide the company to it’s ever increasing levels of growth, expansion and success.
Recently, FuturePOS acquired a 60 acre parcel and has begun breaking ground on what will be a new headquarters building with the number of features designed to intrigue and retain its staff. Giles describes the importance of having a competitive workplace in today’s market:
“Competition for bright young minds is greater than ever and any business is dependent upon the capabilities and tenure of its staff.” To that end the Giles plan an office complex with exercise facilities including a gym, outdoor walking trails, soccer field and basketball court.
Giles was proud to share that his team has made the transition to SQL and Android cloud technology which took them years to fully implement. “It is an exhausting process to keep implementing the most current technology, but we do it while most of our competitors don’t.” Giles is heavily re-investing in his own products with plans of capturing dealers from other software products where investment has stalled, or where founding management has cashed out.
Our readers know that the last two years has seen an abundance of acquisitions in the POS Hospitality niche. Oracle acquired Micros, Heartland acquired Digital Dining, Dinerware, PC America, Xpient Solutions and other companies before being acquired itself by Global Payments.
Very often in the software world, new ownership moves the product into the ‘cash cow’ phase of a business lifecycle, meaning investment in development wanes as the acquirer milks the cash flow for its own bottom line. Naturally, that company’s dealers become dismayed because the product is no longer cutting edge – new features are not created – and that presents an opportunity for a hungry competitor to recruit top hospitality VARs away.
Also, in companies with multiple product lines, dealer overlap is common and smaller dealers can get cut quickly, and may not get enough sales leads from the parent company. For Giles, all this represents a golden opportunity to recruit top dealers – and it’s a wave that he’s not going to let roll by.
“These cycles come along about once a decade” he said, ” it was how I got my start” “The DOS world was ending and those companies were not making the transition to Windows, or were doing it badly. I chose to invest heavily in the future and it’s what we are doing all over again.”
With a talented and mature team of dealers and staff, no debt, growing marketshare and a will to win, FuturePOS is well positioned to continue its double digit growth while staying abreast of the latest technologies for the benefit of its clients.
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