Swipely, a platform that provides product, staff, and customer insights to merchants, handles payment processing as well. Angus Davis, founder and CEO, points out credit card fees can add up to a significant cost, and Swipely “transforms a necessary evil operating expense into a marketing investment.”
The solution, which has been used primarily by hospitality and retail, pulls data together from the payment network, point of sale (POS) system, and social channels — using systems the merchant already has — and turns it into actionable insights the business owner can use to make data-based decisions. Davis says this levels the playing field for brick-and-mortar merchants so they can better compete with ecommerce companies that routinely gather and leverage data.
“We can show which menu items influence a new customer to become a repeat customer, show a list of your 100 most valuable customers, or show which customers spent the most on wine.” Swipely’s reports also can help a manger prepare for a preshift meeting with statistics on each employee’s sales, customer retention, or table turn. Davis says customers report they use the solution every day: “It’s not a fade-into-the-background product, like payment.”
Since its inception in 2009, Swipely has been well received by SMBs, and earlier this year, Swipely launched new features, including rollup reporting and security and access control, for deployment by regional and national brands.
Swipely launched its partner program last year, with about half of all new customers through reseller partners. Beyond the benefit of recurring revenue from the SaaS (Software-as-a-Service) model, partners see other benefits from Swipely. “Payments were a race to the bottom. Instead of selling on value, you had to sell on price. Our partners like that they can be positioned as a leader and differentiate themselves. They see a tremendous amount of value in data,” Davis says.
And because merchants like the solution, there is low churn. “We’re a sticky solution,” Davis says. “With revenue share, it increases the lifetime value of the customer relationship.”
Swipely also hosts an online partner community and a partner website that offers presale and post-sale support, a portal to view support cases, and commission, and recently added real-time insights into shared customer information.