TransAct Secures First Expansion Agreement with a Large Canadian Fast Food Operator
March 5, 2020
Restaurant Operator Approved Additional BOHA! Ecosystem Apps and Hardware Products
HAMDEN, Conn.--(BUSINESS WIRE)-- TransAct®Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today demonstrated growing momentum for the Company’s back-of-house BOHA!™ software and hardware ecosystem with a corporate approval to begin selling additional BOHA! solutions to more than 1,000 Canadian fast food franchise locations.
Bart C Shuldman, Chairman and CEO TransAct said “Last August, we announced our initial agreement with this large Canadian operator’s franchise locations which included the BOHA! Labeling SaaS-based app and TransAct Enterprise Management System (“TEMS”) alongside the BOHA! Terminal. At the time the operator was evaluating other BOHA! applications and hardware for potential deployment at franchise locations. We are pleased to announce that after a successful trial this large Canadian fast food operator is adding three addition BOHA! apps and two additional pieces of hardware to the list of products they are asking their franchisees to purchase. Our Digital Temperature Taking and Monitoring Solution includes the BOHA! Temp app, BOHA! Sense app, and BOHA! Timer app plus the required hardware which includes BOHA! Gateway and BOHA! Sensors.”
The Digital Temperature Taking and Monitoring Solution digitizes a restaurant’s food safety process by ensuring their food is stored and served at proper temperatures. BOHA! Temp digitizes the food temperature taking process by providing a step-by-step method for taking and logging food temps, combined with a preloaded list of food items so workflow is efficient and easy to follow. The digital HACCP logs are stored in the cloud and can be accessed locally or corporate headquarters can review the temperature of food as it is produced and served. BOHA! Sense is a temperature sensing system that monitors the temperature and humidity inside refrigerators, freezers, and walk-in equipment, as well as dry storage areas. BOHA! Timer is an easy to use application to create timers for cooked, cooled and prepped food items as well as non-food items that require time tracking. BOHA! Gateway is the central hub of the monitoring solution and uses a secure and robust LoRaWan solution to gather data and transmit it across sensors and devices to the cloud. A complementary add-on to our BOHA! Temp software, the BOHA! Sensor, attaches to restaurant equipment and refrigeration units to monitor critical temperatures.
To date, over 90 franchisees have purchased and installed the BOHA! Labeling SaaS-based app and TEMS alongside the BOHA! Terminal and TransAct is excited about the opportunity to cross-sell additional apps to these and other franchise locations. The expectation for the initial agreement based on the limited number of small labels per day was an annual recurring revenue per unit of approximately $275 per year. TransAct expects the annual recurring revenue per store for the 3 additional apps to be to be twice the initial deployment, or $550 per year. In addition, the initial hardware sales for the three additional apps is expected to be approximately $1,000 per store.
“We’re very pleased to have secured this expansion agreement with a respected Canadian fast food operator which will increase the digitization and improve the efficiency across the back-of-house operations of their franchisees. After successfully implementing our BOHA! Labeling and TEMS solution to over 90 franchisees, we are excited to show these and the remaining franchises the benefits of our Digital Temperature Taking and Monitoring Solution along with our timer app,” said Bart C. Shuldman, Chairman and CEO of TransAct Technologies. “We are excited by the momentum exhibited by BOHA! in the food service market. As awareness grows around BOHA!’s ability to drive measurable improvement across restaurant and foodservice operators’ bottom line, we believe more customers will add additional BOHA! apps.”
BOHA! is the first single-vendor solution to combine applications for Food Safety Labeling, Temperature Monitoring of Food and Equipment, Inventory Management, Timers, Food Recalls, Checklists & Procedures, Equipment Service Management and Delivery Management in one integrated platform. Each BOHA! solution combines cloud-based SaaS applications with hardware and accessories to deliver superior results for critical back-of-house operations. BOHA! offers a one-stop solution for restaurants and food service companies to address their current back-of-house operating requirements while providing a future-ready platform capable of addressing back-of-house operations. BOHA! Terminal TEMS ensures only approved apps and functions are available on the device.
For more information on the Company’s BOHA! ecosystem, please visit www.transact-tech.com/restaurant-solutions/boha.
About TransAct Technologies Incorporated
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