Company anticipates increased growth as a result of this acceptance by the 2nd largest POS system and cloud reporting company globally
Loop Insights Inc.— a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, enhanced customer engagement and automated venue tracing to the brick and mortar space, announced that it has joined the Oracle Partner Network (“OPN”) initiating a relationship with a leading provider of POS systems and cloud reporting. This is a key relationship in Loop’s overall channel strategy, as these kinds of integrations extend our reach, allow us to work with retailers by connecting them to the cloud, and they drive high margins and faster time to market as no hardware is required.
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Oracle is the second-largest POS provider in the world, representing 12% of the global POS market, according to a 2020 RBR POS report. OPN is Oracle’s global partner program for leading cloud technology companies around the globe. Being a part of the OPN enables Loop Insights to collaborate with one of the largest global POS providers for retail and hospitality and puts our Insights platform in front of thousands of retailers in the Oracle client base. This makes it easier for Oracle’s customers to work with Loop and get access to real-time data, multi-location reporting, and cross-channel marketing opportunities.
The POS terminals market overall is experiencing huge growth with a recent Researchandmarkets.com report predicting that the market will grow from US$68.20 Bn in 2019 to a staggering US$149.35 Bn by 2028, with a CAGR of 9.1% from 2020 to 2028.
This entry into the OPN marks the next step in Loop’s progression of POS integrations as the company continues to move towards the integration of all major POS systems. Being part of OPN will help get Loop in front of major brands and retailers in the Oracle network, which includes international chains like Gap and Burger King, and offers Loop a unique networking and business development opportunity.
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Loop Insights CEO, Rob Anson stated: “Loop’s prominence and capabilities in the POS market are set to increase exponentially thanks to our acceptance into the OPN. As a result, we expect to see continued advances in both our client base and collaborations. This agreement offers us a great opportunity to leverage the Oracle brand and benefit from their resources and position as an industry leader. This further extends our POS market reach through channels, having reached agreements with Vend, Shopify, VenueNext, and now Oracle.”
The OPN is customer-focused and centers on the transition to cloud-based data and insights which perfectly aligns with Loop’s mission to provide customers with an end-to-end insights platform bridging the gap between on-premise and online. The Company anticipates that this relationship will initiate many new conversations with Oracle’s extensive portfolio of clients and collaborators, similar to what has been seen through other successful relationships such as becoming part of Amazon’s Preferred Partner Network and the partnership with Vend.
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