This Week
  • Buckingham, Morgan to buy Midtown facility for $5M

  • Online training proving effective at area companies

  • CEO Sameer Penakalapati has grown Avani Technology Solutions

  • Repeat business drives dealership's sales.

  • Chiropractor Melinda Houle helps clients adjust.

  • The Health Care Achievement Awards 2017 supplement.

Rochester Top 100: Better payment systems are the firm's point

Rochester Business Journal
May 27, 2016

When your business revolves around the way payments are made, you become a student of consumer behavior.

For Eric Elwell, CEO of 2TouchPOS—which sells a point-of-sale system for bars, restaurants and nightclubs—the way to pay has never been more dynamic than it has been in the last decade.

But the United States is slower to adapt than some other countries, he said.

“Right now the big turbulence is how to take payments, so the chip cards have been coming out,” Elwell says. “(The U.S. is) definitely late to it, and the thing that is funny is it’s already dead. Sooner or later everyone is going to use their phone.”

The company’s software must be reconfigured constantly for what is next, Elwell said.

“We have to keep innovating,” he said. “The software has to evolve. ... Sooner or later you’re going to pay the bar tab just like you pay your Uber driver.”

2Touch POS—a dba of Xenios LLC—has a total of 23 employees, with 15 locally, four in Ohio and four in Florida. Its target for growth in revenues is 30 to 100 percent annually.

The company’s Florida office was added in January with the aim of boosting the firm’s sales force. This year the goal is to add six or so people to the firm’s Rochester base and four more salespeople in Florida.

The next move is to increase its national presence, officials said. Once Florida is established, the company will continue to find ways to spread its base of clients.

“Right now our primary focus is about new distribution channels,” Elwell said.

One of the firm’s most recent products is the Data Key, which allows business customers to view sales broken down by category, including by labor cost, department and average sale per guest.

“For me right now, our product is pretty solid,” Elwell said. “We’ve got the Data Key, we’ll continue to want a new payment to provide connectivity to the package, (and) we’ll need to figure out new ways to bring mobile into it.”

Nightclubs, bars, and restaurants need to have this data at their fingertips, Elwell said.

“We continue to invest in it, and what’s happened since then is a bunch of other companies have connected to our package, so there’s been a lot of decent growth,” he said. “There’s a lot of data about what’s being sold where and when and how much. We have a little data farm starting to grow.”

For Mark Chiarenza, who is part of a group that runs roughly nine restaurants and bars in the area, 2TouchPOS has made a huge difference for business, he said. The South Point Restaurant and Bar—which opened May 26 at 1400 Empire Boulevard in Penfield—is the newest restaurant to add 2TouchPOS’ system.

“I think the big thing with their systems in general is the ease of use and ease of programming,” he said. “My experience with some of the other systems are (that) they might function well (with) an employee banging through and doing a menu, but to program and do the backend stuff, some of the other systems are much more difficult. We like working with them, and we are happy for them for their growth and continued growth.”

Competition remains largely national but 2TouchPOS offers something many other firms cannot: experience.

“We’ve got 17 years’ worth of experience, so we’ve got a lot of capabilities that some of these newer players don’t,” Elwell said. “There’s a whole bunch of turnover going on with the companies and how they used to work. The whole market is getting shook up.”

The need to constantly revise software plays to the advantage of companies such as 2TouchPOS, officials said. Constant evaluation leads to breakthroughs.

“A lot of the hardware can last 10 years. It’s the software they’re going to want to turn over,” Elwell said. “There’s a mad race right now to have software take over a lot of the work that people do. So the faster you can make the software take on new tasks, the more folks are going to want to invest in that, because it frees up their folks to do other more important things.”

Elwell runs his company to be steps ahead of the customer. However, he finds some clients are not ready for every change.

“Software is all about the long vision,” he says. “Some (customers) want to keep finding ways to keep investing in automation. Our products need to help them do that.”

The Rochester Top 100 program is presented by the Greater Rochester Chamber of Commerce and KPMG LLP. Launched in 1987, it recognizes the fastest-growing private companies in Greater Rochester. The 2016 Rochester Top 100 event will be held Nov. 3. For more information, go to greaterrochesterchamber.com.

2TouchPOS (dba of Xenios LLC)
Software firm focused on point-of-sale systems for clients in the nightclub, bar and restaurant industry.
Year founded: 1999
Top executive: Eric Elwell, CEO
2015 ranking: 68
Current employment: 25
Headquarters: Rochester
Website: www.2TouchPOS.com

5/27/2016 (c) 2016 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.



What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google