Ashish Tulsian, co-founder & CEO of New Delhi-based POSist Technologies is a rare combination of a technocrat and restaurateur. He kickstarted his career founding a telecom company—TechnoApex right out of engineering college, serving some of the major telecom operators in India for value added services. A side investment in a restaurant out of passion brought him to this side of things. His venture (POSist), which he co-founded with Sakshi Bhasin Tulsian in January 2012, is a software as a service-based eatery management platform to manage the fast-growing restaurant industry.
In recent years, POSist has seen a steady growth and acceptability in the market. It has grown from 500 restaurant customer in 2012 to 3,000 restaurants till now, with implementations in all types of restaurant formats —from a highway dhaba to 5 star restaurants to kiosks to QSRs etc. “Prominent among these include Gianis, Wow Momos, Go Gourment of Jubiliant Fresh, Grill Inn, Saleem and Hatti Kapi to name a few,” says Ashish. “Our solution enables restaurants to manage their customer relationship management, table orders, inventory, delivery, take-away, expense, branches etc.”
During the initial years itself, Ashish realised that running a restaurant requires an extra effort to manage every part involved with the business starting from inventory to customer service. Being a tech person, Ashish thought of utilising technology to help him manage the business; so he was out in market to look for ready-made software which could aid them in operations.
Ashish was surprised to find that there was no such product in the industry provided there are companies as old as 25 years and are into providing hospitality and service-oriented software. This compelled him to pull out two employees from his tech team to build the initial prototype of the required software. And that is how POSist—a leading online point of sale, restaurant management software was created.
What started with just a goal to make Ashish’s restaurants operations faster, accurate and efficient today, has evolved to be a great offering. “POSist is cloud-based point of sale solution provider for restaurants. Basically, it is a web-hosted service which works on a browser and requires no real-time installation at the outlet,” says Ashish. He adds: “All your data is stored on the cloud and being on the cloud you never lose the data. POSist insures that it works both in offline and online mode. This has proved to be an advantage for restaurants which are remotely located and often find difficulty with a continuous internet connection.”
The right mix
POSist successfully keeps a track of what gets billed and what not. All voids and offers are permission-based and a complete history is maintained of what goes inside the software. Unlike traditional systems, a cloud based POS system can be accessed directly from the Internet, using mobile
devices, like iPads and smartphones. “From inventory management to split bills we provide it all to our clientele. We help the restaurant owners create and print guest checks, manage staff members, send email alerts to customers, set up menu, customer database and so on,” says Ashish. “The next aim is to make POSist a restaurant-to-restaurant need, he adds.
Going forward, POSist aims to reach a number of 10,000 restaurants by the end of 2016 and bloom into a full service technology platform for restaurant industry. Its key investors include—Satveer Singh Thakral of Singapore Angel Network, Arun Venkatachalam of Murugappa Group, Bhupen Shah of Sling Media (Sillicon Valley) and others. Ashish says, “The cash flow of the company is positive but we will be looking to raise fresh funds this year which we will use in expanding globally as we are getting a lot of demands even outside India for the software.”