CHENGDU, China, Mar. 10, 2017 /PRNewswire/ Korea IT Times-- Tianfu Software Park, one of the largest tech parks in China, selected a batch of companies located in the park and visited their founders or CEOs. The face-to-face communication allowed them to learn more about the latest thoughts, analysis and outlooks of the enterprises about the internet industry. The discussions represent the real side of the Chinese Internet industry, bringing inspiration to possible future entrants.
In January 2017, Keruyun from Chengdu Tianfu Software Park was invited to attend the International Consumer Electronics Show 2017 (CES 2017), the largest and the most influential electronics show in the world. As the first Chinese SaaS company in the catering industry to attend CES, Keruyun attracted lots of attention. As one booth visitor said, "Among such service providers around the world, Keruyun is highly competitive." During the CES, Keruyun received collaboration requests from 10+ agents and cross-border payment enterprises located in North America, Europe and Asia.
"Table reservations, online ordering, mobile payment and automatic e-invoice generation are all made easy with SaaS," said Phoenix Peng, Founder and CEO of Keruyun. "New ways of eating out are now at your fingertips. The brand-new dining experience is leading everyone into a new era.
According to the 2016 Catering Consumption Report published by China Cuisine Association (CCA), the mobile payment proportion of third-party platforms jumped from 9.9% in 2015 to 35.6% in 2016, achieving a dramatic increase of approximately 260%. The catering industry has ushered in conventional-to-smart changes.
"Intelligent restaurant management SaaS service" is an ERP system developed specifically for restaurants, based on Internet of Things and cloud computing technology. It provides restaurants with the following new ways to integrate advanced digital capabilities into their day-to-day operations:
- new generation of POS terminal to collect operational data automatically,
- digital menu replacing old fashioned printed menu to delivery almost infinite flexibility in promoting dishes and service options,
- restaurants analytics for restaurant operators to analyze and improve their efficiency
Keruyun, Tian Cai Shang Long, 2DFire and other catering software have emerged one after another. Among similar software, Keruyun, which was founded in 2012, has enjoyed a particularly rapid development. After settling down in Chengdu Tianfu Software Park in 2014, Keruyun has grown quickly with its support. In April 2015, Keruyun obtained Round B financing of RMB 58 million from Baidu and Tianxing Capital. In December 2015, it got listed on the National Equities Exchange and Quotations (NEEQ) in China. In December 2016, it completed private placement of RMB 72 million and launched private placement for Hengqin Wallet No.1 Fund and issued no more than 8,960,574 shares.
As everyone knows, leading technology companies have made smart mobile devices accessible by millions of households, but the revolution that smart terminals supersede conventional devices has not thoroughly spilled over into the catering industry. "Keruyun helps make catering businesses' services simple, smart and efficient through its cloud-based intelligent restaurant management system," added Phoenix Peng.
OnPOS is Keruyun's first all-in-one device that can provide such services as booking, take-away, payment, marketing and supply chain management for restaurants. To meet the different demands of businesses, Keruyun launched OnPOS mini in August 2016. Sales volume exceeded 10,000 units within 3 months.
"In any industry, there are certain development laws to be followed," said Phoenix Peng. The first six to eight years are a market cultivation. During this period, the development is slow, with industry penetration rate of below 10%. However, once the turning point is passed, the penetration rate will reach 80%-90% within 3 to 4 years. "In 2017, the Intelligent Restaurant Management SaaS Service industry will pass the turning point."
"Smooth connection at terminals B and C will be ensured by a 250-person software & hardware R&D team, valuable experience from thousands of salespersons in hundreds of cities and a great number of strategic resources such as Baidu, Ali and WeChat," said Phoenix Peng. "I am fully confident in the development of Keruyun."
In early 2017, the excellent performance of Keruyun at CES was a solid step forward in the implementation of its global strategy.
"So far, overseas intelligent restaurant markets are relatively simple and lack similar services," said Phoenix Peng. "Keruyun will make well-thought-out plans to enter appropriate overseas markets in next two years. Meanwhile, Keruyun will set foot in the retail, stadium, beauty industry and other segments and extend its operations throughout the whole service industry."