India has huge opportunity for Food-tech space

For a Delhi based start-up like POSist, The first step was to create a right culture using employee feedback from exit interviews, talking to new employees on their expectations at the time of hiring, studying employee behavior pattern & through personal experience of running an organization.

According to the industry reports India’s food services market is vibrant and worth $48 billion; of which the organized food services market is valued at $14 billion.

In Restaurant Business POS is a business which big online Food Startups want to acquire & control as it is the data nerve center of restaurant business.

But there are different players in this space in every country and restaurants are very reluctant to change their POS vendor. But when it comes to them, they have grown from 10 restaurant customers in 2012 to 2000 restaurants till now with implementations in all types of restaurant formats from a highway dhaba to 5 star restaurants to kiosks to QSRs etc across five countries and 62 cities.

They expect to reach a number of 10,000 restaurants by the end of 2016 and bloom into a full service technology platform for restaurant industry offering a complete bouquet of technology products needed by a restaurant under POSist umbrella.

This startup in food-tech space happened in 2012, when the duo Ashish and Sakshi Tulsian unable able to find a suitable POS solution for their own restaurant venture, decided to come up with one them. And there has been no looking back ever since!

The company generates revenues on subscription per terminal basis that starts from Rs 12,000 per terminal per year and goes upto Rs 50,000 per terminal per year depending upon the customers.

POSist also helps the restaurant owners to remotely get the sales information on the individual items on their menu; they can also check the number of visitors in their outlets per hour, and the performance of every outlet as well as the performance of the staff.

When it comes to creating a healthy work culture, Ashish Tulsian, Co-Founder, POSist feels that “Workplaces have come a long way over the past decade. The rise of remote working, emergence new perks plus policies and demands for a better work-life balance are driving a new philosophy. We welcome transparency, openness, welcoming all sorts of idea from all directions. We have come up with an office where employees can reach each other at an arm length.”

This start-up also believes in quarterly appraisals, and believes in the mantra of hiring less but keep all the employees motivated.

Expressing his views on lesser hiring, Ashish Tulsian further reiterates, “According to us technology companies do not require large work force. Since our inception, we have more than 2000 clients but the HR Inductions have been less than 200. We believe in hiring less people and spending on their training. We provide better packages to freshers who wish to learn and grow with us.”

According to the industry reports, 61% of restaurants are now looking only for fully integrated POS solutions that manage everything from online ordering to detailed financial reporting.

Food technology is in boom today and the future of the POS industry will see market flooded with innovative and potential products.