Goodbye cash register - hello Web browser

[January 15th 2001]

The cash register -- long a fixture on the retail scene -- may go the way of the dinosaur, if Steven Heintz has anything to say about it.

Heintz, 23, is founder and president of NetPOS.com, Inc., an Ann Arbor, MI, firm that has designed an Internet-based point-of-sale system that can literally replace cash registers in retail businesses and restaurants everywhere.

"We're not inserting standalone computers into the environment, that merely act as cash registers," Heintz said. "By using touchscreen Web browsers, we can provide services such as vendor-managed inventory replenishment, on-line reservations, and employee scheduling through our point-of-sale terminals. Our system gives restaurants and retailers the means to become e-businesses immediately and expand their revenue and service opportunities." Heintz added: "Our Web-based POS service is a cost competitive solution for single site businesses to national chains."

Every time a cashier "rings up" an item, NetPOS Web terminals transmits the information to a data warehouse that executives can use to manage inventory, monitor payroll costs, track customer preferences, as well as schedule and deploy personnel in real time. 100% of the software is delivered and managed through the Internet in an application service provider (ASP) model.

Restaurant and retail operators with NetPOS can spend more time focusing on customers. The system lets managers monitor remote locations simultaneously, or manage their business from the comforts of home.

Heintz hit upon the NetPOS concept when he wondered: "What services could we provide if we brought the Internet into every business on Main Street, USA?" Heintz said that he wanted to design a tool that would give brick and mortar businesses the ability to compete with sophisticated e-commerce sites that remember individual customer preferences, and provide alternative payment methods.

"Because of the connection to the Internet, the services we can deliver to each terminal are endless," said Heintz. "Features we are looking to introduce later this year include live videoconferencing from each terminal for technical support and training, as well as on-line ordering and payment that will allow guests to place their orders and pay for them, prior to entering the restaurant."

"Almost every decision or activity at a restaurant or retail store revolves around the physical sale. We needed to bring the resources of the Internet to the point where the physical exchange of money occurs. We can also collect immediate information from consumers. Restaurant and retail operators that have this information at their fingertips can refine business practices and cut costs much quicker."

"Most restaurants or retail locations use a cash register or computer to simply record sale transactions," said Heintz, but he went on to predict: "Imagine as a restaurateur, allowing customers to make table reservations online or pay their bill with an alternative payment method. The customers could go online to access their personal spending history or provide feedback on an individual dining experience."

"If you're a retailer, an Internet-based point-of-sale system would update your e-commerce storefront when you sell the last medium red jacket at your store. Employees would even be able to check their work schedule from home or school via the Internet. We believe that NetPOS is the only company that offers this wide range of services via an Internet delivered point-of-sale model."

Heintz is optimistic about the potential of his company's innovation.

"Right now there are 844,000 restaurants in the United States, according to the National Restaurant Association. In addition, 1.5 million retailers use cash registers in one form or another.

"On the conservative side, we expect to have 400 sites online by the end of 200l, 1,800 by the end of 2002 and more than 4,700 by the end of 2003," said Heintz. "That translates into revenues of more than $72 million by 2003."

The company is currently in the process of securing development round funding and is undergoing a search for what Heintz referred to as a "well- seasoned CEO."

Links
NetPOS.com		http://www.netpos.com