Par Technology Stock Price, News & Analysis

PAR Technology's subsidiary, ParTech, announced a significant partnership with Boston Market to implement Brink POS® software and EverServ® hardware across 350 locations nationwide. This decision is driven by Boston Market's need for a cloud-based solution capable of quick integration and customization, particularly highlighted during the pandemic. The partnership, facilitated by RDS Hospitality, aims to enhance operational efficiency and improve customer engagement. CEO Savneet Singh emphasized the commitment to innovation and customer success in collaboration with Boston Market.

ParTech, a leader in POS solutions, has enhanced its Brink POS integration with the addition of Lineup, an AI-driven sales and labor forecasting platform. Lineup empowers restaurant operators by providing accurate sales predictions and labor insights, improving decision-making even amidst ongoing challenges from COVID-19. Its predictive capabilities, which are now back to pre-pandemic accuracy levels, leverage machine learning to evolve continuously with changing external factors. This integration aims to optimize staffing and operational efficiency in the restaurant sector.

ParTech, Inc., a leader in POS solutions for the restaurant sector, has announced its integration with FreedomPay as a payment gateway option for Brink POS customers. This addition enhances the existing ecosystem, enabling restaurants to innovate and adapt to market changes. The FreedomPay platform allows restaurants to maintain their current payment devices, minimizing unnecessary expenses. ParTech emphasizes the choice and cost-saving potential this integration offers to restaurants navigating the current economic landscape.

PAR Technology Corporation (NYSE: PAR) reported Q3 2020 revenues of $54.8 million, marking a 20.7% increase from Q3 2019. The growth was driven by $7.2 million from acquisitions, offset by the divestiture of SureCheck. GAAP net loss improved to $3.7 million (or $0.20 loss per share) from $5.9 million a year ago. Year-to-date revenues reached $155.3 million, up 15.6%. CEO Savneet Singh emphasized resilience within the restaurant sector and increasing demand for cloud solutions amid the pandemic. Notable achievements included strong Brink ARR growth and a significant backlog of orders.

PAR Technology Corporation (NYSE: PAR) is set to report its third quarter financial results on November 6, 2020, at 7:30 a.m. ET. This will be followed by an investor presentation and conference call at 9:00 a.m. ET. Key executives, including President Savneet Singh and CFO Bryan Menar, will provide updates and answer questions during the call. Interested investors can join the call by dialing 844-419-5412. Detailed information about the company and its services, especially its POS technology used globally, is available on its investor page.

ParTech, a prominent provider of POS software, integrates OpenEye’s cloud-based video platform into its Brink POS ecosystem. This collaboration enhances loss prevention capabilities for restaurants, allowing operators to verify transaction events and improve ROI. OpenEye's system provides health monitoring alerts to reduce downtime and enables secure, password-protected video sharing. Over 100,000 restaurants globally utilize ParTech’s solutions, reinforcing its commitment to operational efficiency in the restaurant industry. This partnership aims to strengthen security and operational intelligence for clients.

ParTech, Inc (PAR) announced that its Brink POS cloud application was selected by Fazoli’s Impact Hospitality Group for their first ghost kitchen in Atlanta, GA. The innovative facility, located in PREP Atlanta, is tailored for off-premise orders, allowing Fazoli’s to meet strong delivery demand. The integration of Brink POS enables a seamless online ordering experience through various platforms, enhancing operational efficiency. Additionally, this marks Fazoli’s first major metropolitan location, expanding their reach while minimizing traditional restaurant costs.

ParTech has incorporated Zuppler into its Brink POS integration ecosystem, enhancing food ordering solutions for restaurants. Zuppler offers an online and on-premise ordering system that provides a consistent branded experience for customers while eliminating high fees and delays. Its approach includes a 40-step monitoring process to ensure order quality. This partnership aims to support restaurants in delivering a seamless online ordering experience, vital for their operational success amidst increasing demand for delivery and pickup services.