Dear POS Resellers,
It is time to bid farewell to yet another remarkable year. The RSPA reports that 85% of ISVs/VARs posted double-digit profit margins. For the Point of Sale (POS) industry as a whole, 2023 has been a very good year albeit not without its challenges.
This year has been one of highs and lows, challenges, and victories. Through it all, we are proud to report that Osprey Retail is thriving and still standing strong.
What We’ve Seen
This year we have witnessed the ebb and flow of market dynamics. Two trends seemed to dominate the year just gone.
Greater Adoption of Technologies
Technology adoption has reshaped the way businesses operate in a greater way than we have ever seen before bringing benefits to business operators and customers alike.
- More mobility has been made possible through evolving tablet solutions.
- Ease of customer use is elevated by updated self-service kiosks and contactless experiences.
- Processes have been streamlined with the incorporation of electronic shelf labels (ESL).
Of course, many more technological changes have improved efficiency, profitability, and customer satisfaction. But technology has not been the only change agent in this market.
Continued ISV Acquisition
A rapid wave of acquisitions among Independent Software Vendors (ISVs) by larger corporations, often by payment processing companies, has added a new layer of complexity to the industry. This trend has not been entirely positive.
A steady stream of acquisitions presents some significant challenges to resellers:
- A large number of acquisitions have happened over the last decade. As developers were acquired, VARs were left with software options to resell. They must then choose to stay handcuffed to fewer options or decide whether or not to jump ship, as it were, to a new ISV. If they pick a new ISV, they will no doubt worry that their new partner will be acquired as well, leaving them in the same position they just left.
- When an acquisition happens, they are often forced to abandon outdated legacy software that the new company will no longer support. They have to adapt and learn to sell and service a new product whether they want to or not.
- Recurring SaaS and credit card processing revenue streams are often affected, disrupting their financial performance.
The benefits of these acquisitions can sometimes be concentrated in a few hands, and those hands do not belong to the merchants or their service providers.
Osprey Retail Remain Steady
In the face of these trends, Osprey Retail remains stalwart. We have no plans or interest in being acquired. We see value in and remain committed to independence as a testament to our stability as a company and a guarantee that our focus remains steadfast on serving you with the best POS solutions. We believe everyone in the market benefits from the competition Osprey Retail provides.
A Huge Thank You
This bold statement would be simply that, a bold statement, without the excellent work done by Osprey resellers and customers. You are the backbone that enables Osprey Retail to take this stand. Your dedication and loyalty have been instrumental in driving our growth.
In the coming year, we aim to expand our reseller partner network even further. We will continue to forge new relationships while we strengthen existing ones.
What’s to Come
We will be on the road a lot this year traveling to various trade shows so that we can showcase our cutting-edge software. These shows are important because they allow us to connect with businesses across various industries such as thrift, retail, pet, and grocery stores.
Since we started in 1990, Osprey Retail has been committed to innovation. We will continue this commitment. One of our most important sources of innovation is feedback from our customers so that our software is tailored to solve our customers’ problems. Going forward our solutions will be even more robust, deploying industry-specific features that address the challenges your retail customers face.
The mission of Osprey Retail is to help more businesses streamline their operations and elevate their customer experiences by utilizing our POS software. Our reseller network is vital to accomplishing our mission.
I am optimistic as I look ahead to 2024. It will be, I am sure, a year marked by even greater success for Osprey Retail and our partners. May you all have a joyful holiday season and may our hearts be full of gratitude throughout the New Year!
