Turnover grows 300%
Festival helps point of sale firm hit £1m sales
Edinburgh Festival operators provided a boost to city-based Intelligent Point of Sale which has seen its turnover grow nearly 300% to break through £1 million in only its second full year in business.
Client numbers have more than doubled to over 1,000 in the past ten months with pop-up businesses at events such as the Festival proving a lucrative source of business.
The firm has created a cloud-based, iPad point of sale application for businesses of all sizes and an array of new clients include events companies Underbelly and N2O.
The EPOS system enables businesses to start selling products quickly and easily, control and track sales and stock in real time, and clients range from pubs, bars, cafes, restaurants and clubs with a single till point in one location up to multiple till points in multiple locations, through to retail outlets such as VIP Electronic Cigarettes which has around 100 sites.
The company’s success – and appeal to investors – has also meant that with the appointment of two senior executives, it is looking at a product launch in 2016 and a similar boost to sales.
Graeme Horsfall recently joined Intelligent Point of Sale as COO from Microsoft Services UK, where he was chief of staff and responsible for enterprise clients, while Andrew Calzetti joined as CMO from an international marketing role with NVIDIA. Both bring the big business thinking the company needs to continue its expansion.
From a staff of 14 at the beginning of 2015, Intelligent Point of Sale now employs 25, with another five to be recruited by the end of January 2016.
Paul Walton, the co-founder of Intelligent Point of Sale, said: “This has been an exciting year for the company. We have outstripped all our targets achieving a firm foothold in the market.
“It is particularly satisfying that we have competed against and won business from the big US players trying to get established in the UK. Our experience of the hospitality industry and UK-based support services are beating back our US rivals.
“We are now in a strong position to continue growing, and with Graeme and Andrew’s expertise quickly mature the business, its processes and its thinking to expand our customer base and product range.”
The company, which secured £550,000 of investment earlier in the year from 24Haymarket and the East of Scotland Investment Fund, is now well placed to win further funding from the Scottish Edge Awards today.
Photo (top): Paul Walton and Robin Knox