Background
Founded in 1999, Avero is a leading provider of Software as a Service (SaaS) analytic applications and specialized services tailored for the hospitality industry. The company's mission is to empower restaurant professionals by delivering actionable insights that enhance operational efficiency, drive revenue growth, and improve the overall guest experience. Avero's solutions are designed to transition managers from back-office tasks to more engaging roles within their establishments, fostering a more dynamic and customer-focused environment.
Key Strategic Focus
Avero's strategic focus centers on providing comprehensive business intelligence tools that integrate seamlessly with existing Point of Sale (POS) and labor reporting systems. By processing substantial volumes of food and beverage transactions, Avero offers detailed analytics that enable operators to make informed decisions, optimize costs, and enhance service quality. The company's primary market includes restaurants, casinos, and hotels, with a significant presence in the United States and expanding reach in international markets.
Financials and Funding
As of 2021, Avero reported annual revenues of $3.3 million, serving approximately 17,000 customers. The company has achieved this growth without external funding, indicating a self-sustaining business model. Employee estimates vary, with figures ranging from 80 to 143, reflecting the company's expansion over time.
Technological Platform and Innovation
Avero's proprietary platform, Avero Slingshot, is a SaaS solution that automates the extraction and analysis of POS data. This technology enables front-line managers to make proactive decisions that drive sales, reduce costs, and enforce operational controls, all while enhancing the guest experience. The platform's ease of integration with over 65 POS and labor systems underscores its adaptability and user-centric design.
Leadership Team
The leadership team at Avero comprises experienced professionals with diverse backgrounds in the hospitality and technology sectors:
- Douglas Hsieh, Chief Executive Officer and founding Board Member, has been with Avero since its inception in 1999 and took on a daily operational role in 2007. Prior to Avero, he was a principal at Thomas H. Lee Putnam Ventures and a vice president at GE Capital.
- Peter Storer, Vice President of Client Operations & Sales, brings extensive experience in client relations and sales strategies within the hospitality technology sector.
- Robert Barracca, Vice President of Infrastructure Technology, oversees the technological infrastructure, ensuring robust and scalable solutions for clients.
- Todd Rendle, Vice President of Business Development and Channel Sales, focuses on expanding Avero's market presence through strategic partnerships and sales channels.
- Diane Carlson, Vice President of Marketing, leads the company's marketing initiatives, enhancing brand visibility and customer engagement.
- Matt Franklin, Chief Technology Officer, is responsible for the technological vision and development of Avero's product offerings.
- Kevin Hart, Chief Operating Officer, manages the company's day-to-day operations, ensuring alignment with strategic objectives.
- Fidaije Nesimi, Vice President of Human Resources, oversees talent management and organizational development.
Competitor Profile
Avero operates in a competitive landscape with several notable players:
- Womply: Offers business intelligence solutions with a focus on small businesses, providing insights into customer interactions and financial performance.
- HotSchedules: Provides workforce management solutions, including scheduling and labor management tools tailored for the hospitality industry.
- CrunchTime: Specializes in back-of-house operations management, offering inventory and labor management solutions for restaurants.
- Ctuit Software: Delivers restaurant management software focusing on operational efficiency and financial reporting.
In terms of overall culture and employee satisfaction, Avero ranks third among its competitors, indicating areas for potential improvement in organizational culture and employee engagement.
Strategic Collaborations and Partnerships
Avero has established partnerships with various technology providers to enhance its service offerings:
- MySQL: Utilized as a technology partner for database management.
- LightspeedHQ, ShopKeep, Revel Systems, Toast, TouchBistro, MICROS Systems: Collaborate as channel partners, integrating Avero's analytics with their POS systems to provide comprehensive solutions for clients.
Operational Insights
Avero's ability to process over $20 billion in annual food and beverage transactions and serve more than 30,000 users across 50 countries underscores its significant impact on the hospitality industry. The company's focus on integrating with a wide range of POS and labor systems positions it as a versatile and adaptable solution for diverse hospitality operations.
Strategic Opportunities and Future Directions
Looking ahead, Avero aims to expand its market share by enhancing its technological offerings, strengthening strategic partnerships, and improving organizational culture to attract and retain top talent. By focusing on innovation and customer-centric solutions, Avero is well-positioned to address the evolving needs of the hospitality industry.
Contact Information
- Website: www.averoinc.com
- Headquarters: New York City, New York, United States
