17,000 Retailers Using LightSpeed Technology Processed $6 Billion in Transactions Last Year

LightSpeed revealed this week that the 17,000 retailers using its technology processed approximately $6 billion in transactions in 2013, or roughly $350,000 per customer—up 120% from 2012 and spurring a 60% growth in revenue.

Impressively, these numbers outdo Ottawa tech darling Shopify by a wide margin: Canada’s smartest company, who is currently a finalist for Employer of the Year in the Canadian Startup Awards, processed less than $2 billion across 80,000 stores in 2013, or about $21,000 per customer.

Not resting on its laurels, the Montreal-based LightSpeed also unveiled Web Store for Cloud, giving retailers a single web-based system for managing sales, inventory and customers both in-store and online. Debuting at the National Retail Federation Annual Convention and Trade Show, LightSpeed now claims to be the only point-of-sale system to offer an inventory-centric solution that empowers brick-and-mortar retailers to manage their business across all channels and from any device.

“For most brick-and-mortar retailers, having an e-commerce presence is essential. When you have a high volume of inventory, however, adding a new sales channel can quickly make managing stock and sales quite complex,” explains Dax Dasilva, chief executive officer and founder of LightSpeed. “Until now, there hasn’t been a system that integrates critical functions like eCommerce, inventory management and point of sale in real-time without sacrificing the functionality that merchants need to support their retail environments.”



“LightSpeed Web Store for Cloud is the single tool that professional retailers need to deliver a true 360 degree view of their business and realize their vision for commerce,” Dasilva added.

In today’s shopping climate, retailers are struggling to manage inventory levels, sales and product information across web, mobile and in-store environments while still delivering a consistent experience to customers, no matter where or how they buy, says LightSpeed. Most retail management tools address only a single element—payment, inventory, or e-commerce—leaving merchants juggling several disparate systems.

LightSpeed Web Store for Cloud eliminates this problem by allowing retailers to easily view and manage inventory from all selling environments, monitor sales, manage suppliers and track customer preferences, all from a single dashboard that is accessible anywhere from a web browser or an iPad app, according to the Canadian company.  additional manpower to work properly. Web Store for Cloud pricing is a simple monthly fee, starting at $49 per month.