Invenco by GVR: Market Research Report
Company Overview
- Name: Invenco by GVR
- Mission: To create innovative connected solutions to critical problems facing convenience retailers, fostering growth and innovation within the convenience retail landscape.
- Founded and History: In August 2022, Invenco was acquired by Vontier, a New Zealand-based payments innovator. In early 2023, Gilbarco Veeder-Root Retail Solutions rebranded as Invenco by GVR.
- Key People:
- Karthik Ganapathi, President of Invenco by GVR.
- Notable team members include Anita Panda (Software Engineering Team Leader) and Bhajana Buddappa (Program Manager).
- Headquarters: 7300 W Friendly Avenue, Greensboro, NC 27410, USA.
- Number of Employees: Thousands of employees from diverse backgrounds across the globe.
- Revenue: No information is available.
- Known For: Invenco by GVR is recognized as a global leader in retail and payment technology, providing solutions like point-of-sale systems, payment solutions, site automation, and cloud services.
Products
1. iNFX
- Description: A composable microservice architecture enabling a modular and customizable plug-in system.
- Key Features:
- Aids in quicker strategy execution.
- Enhances performance with higher reliability and transaction speed.
- Technology-agnostic integration for scalability.
2. FlexPay 6 Payment Terminals
- Description: Designed for outdoor environments, these terminals offer multimedia features for seamless payment experiences.
- Key Features:
- All-in-One 9 in. (A2-09): Contactless payments, high-res touch display, printer, and barcode reader.
- Modular 15 in. (M1-15): EMV PCI 5.x SRED compliant, modular payment with a rich-media touchscreen.
- Emphasizes security and ease of EMV upgrades.
3. Invenco Cloud Services
- Description: Provides device network management, reducing operational costs and enhancing promotional activities.
- Key Features:
- Improved device uptime management.
- Drives brand promotion activities.
4. Passport Retail Platform
- Description: Premier point-of-sale system tailored for convenience stores.
- Key Features:
- Supports loyalty programs and self-service options.
- Streamlines operations and reduces costs.
Recent Developments
New Products and Features
- The Hub:
- Cloud-based solution for integrating various device platforms with real-time connectivity.
- Engage Media Full-Service:
- A partnership with GSTV to deliver a custom, branded media experience to drive in-store sales.
- Passport Enterprise:
- Allows existing hardware to leverage Passport software, ensuring better uptime and quick updates.
Strategic Initiatives
- Focus on remote management and productivity enhancement through various product launches at the 2024 NACS Show.
- Introduction of software-based forecourt control powered by iNFX for flexible business solutions.
Partnerships and Collaborations
- Partnership with GATE Petroleum Company for the Passport retail platform.
- Collaboration with GSTV to launch Engage Media Full-Service, emphasizing retail media solutions.
Events
- Hosted a session at the 2024 NACS Show in Las Vegas to introduce new products and showcase strategic initiatives.
- Planning for the 2025 Retail Technology Conference to continue exploring innovation trends.
Conclusion
Invenco by GVR is a prominent leader in the convenience retail industry, positioning itself through innovative payment and automation solutions tailored to meet evolving consumer and market demands. The company's recent developments and strategic partnerships emphasize its commitment to driving customer satisfaction and efficiently managing retail operations.
