Company Overview
LS Retail, a subsidiary of Aptos, specializes in providing cutting-edge Point of Sale (POS) and Enterprise Resource Planning (ERP) solutions across various sectors, including retail, hospitality, restaurants, pharmacies, and forecourt operations. The company empowers over 11,000 businesses across 15 countries by leveraging unified commerce platforms built on Microsoft Dynamics 365. Acquired by Aptos in 2021, LS Retail operates independently under the ownership of Goldman Sachs’ Merchant Banking division.
Product Offerings
LS Retail boasts an array of innovative solutions designed to streamline business operations, including:
- LS Central: A comprehensive retail management system suitable for diverse industries.
- LS Express: An online POS solution designed for single-store retailers.
- LS One: A versatile POS system that accommodates various business models.
These solutions enable seamless management of operations from front to back, promoting enhanced operational efficiency and superior customer engagement.
Company Values and Mission
Driven by a mission to empower businesses through technology, LS Retail aspires to be the preferred provider of transformative solutions for customer experiences. The company upholds the following core values:
- Integrity: Commitment to honesty and transparency in business practices.
- Innovation: Encouragement of creativity and novel ideas.
- Customer Focus: Dedication to meeting customer needs and fostering their growth.
Leadership
The leadership team at LS Retail is spearheaded by Kristjan Johannsson, the General Manager, with a rich background in IT leadership, having served in key roles at SAP and Applicon. Other prominent members include:
- Magnus Norddahl: CEO and President
- Dadi Karason: Chief Technology Officer
- Hlynur Elisson: Chief Financial Officer
- Bergthora H. Olafsdottir: Chief HR Officer
Their strategic vision and focus on operational excellence are integral to the company’s success.
Achievements and Recognition
LS Retail's accolades include being recognized as a leading Independent Software Vendor (ISV) for Microsoft Dynamics. The company has garnered memberships such as the Microsoft Dynamics Inner Circle (2011-2021) and received the Great Place to Work certification in Portugal (2022-2023). It has also been acknowledged multiple times as Company of the Year in Iceland, underscoring its dedication to excellence.
Global Presence and Workforce
Headquartered in Iceland, LS Retail extends its global presence with offices in the United States, Portugal, UAE, Singapore, and Malaysia. With a diverse team of 300 employees across 30 nationalities, the company fosters a work environment focused on diversity, inclusion, and environmental care.
Strategic Outlook
LS Retail continually evolves by integrating state-of-the-art software solutions like CentralConnect, which aligns LS Central with head office platforms and ERPs. This innovation underpins the company’s strategic focus on growth and adaptability to market demands, striving to enhance its global reach and customer satisfaction through continuous collaboration and effective leadership.
Competitor Profiling
LS Retail operates in a competitive market landscape against several key players in the retail management and POS software space. The primary competitors include:
Retail Pro International (RPI)
Known for its robust retail management software, RPI offers substantial functionality, multi-national capabilities, and flexibility. With CEO Kerry Lemos at the helm, RPI's solutions, used by retailers in over 130 countries, emphasize its omni-channel capability and extensive partner network.
Heartland Retail
Originally Springboard Retail, Heartland Retail offers a cloud-based POS and retail management system tailored for multi-channel and multi-store operations. Based in Atlanta, GA, its focus is on efficiency for small and medium-sized enterprises through streamlined inventory management and customer service solutions.
Square
Under Block, Inc., Square provides an extensive array of tools to optimize business operations for diverse retailers. Known for user-friendly POS systems, Square supports seamless sales and management with wide acclaim for its intuitive interfaces, making it popular among businesses of varying sizes.
Openbravo
Specializing in cloud-based omnichannel platforms, Openbravo caters to midsize to large retail and restaurant businesses with scalable solutions for agile management, order management, and broad retail operations.
Veras Retail
Offering omnichannel POS and mobile customer experience solutions, Veras Retail ranks among the top for market share in POS software for medium-to-large retailers. Established in 2008, Veras Retail is noted for enriching in-store experiences through its unique platform offerings.
Actionable Insights
- Market Position: LS Retail should leverage its strong position by continuing to enhance its robust functionality and flexibility. Maintaining innovation in omni-channel solutions is crucial for staying competitive in diverse markets.
- Competitor Strategies: Capitalizing on insights from competitors' strengths, such as Heartland Retail and Openbravo's cloud-based offerings or Square’s user-centered design, can identify avenues for LS Retail’s enhancements.
- Technological Advancements: To maintain competitiveness in the shift towards cloud-based, integrated retail management solutions, LS Retail should broaden its cloud capabilities and customer engagement tools.
These insights are vital for LS Retail to pinpoint strategic improvements and ensure competitiveness in the dynamically evolving retail management landscape.
