Shares of Olo Inc. (NYSE: OLO) experienced a significant after-market increase of 5.60% on the US stock market on Tuesday, reaching $4.90. This surge followed a steady rise of 0.65% during the regular session, which closed at $4.64. The volatility in OLO's stock occurred despite a lack of immediate news, suggesting that recent developments might better explain the bullish trend.
Table of Contents
Toggle- Strategic Partnership And Technological Integration
- Enhancing Customer Experience And Operational Efficiency
Strategic Partnership And Technological Integration
Olo Inc. has recently announced an expanded partnership with TRAY, a cutting-edge Point of Sale (POS) and restaurant management platform tailored for Enterprise restaurants. This collaboration aims to enhance Olo Pay card-present payment processing via POS and integrate it with the Olo Engage product suite.
By doing so, the two companies intend to strengthen their combined value proposition by incorporating automated menu synchronization into the Olo Order integration. Furthermore, TRAY will activate the integration with Olo Order Ready AI, a machine-learning solution that generates precise ready times for guests and third-party delivery providers.
Olo Pay's seamless integration with TRAY for card-present transactions is set to further digitalize on-premise payments, streamline management processes, and address challenges such as reconciliation and refunds. This integration ensures a smooth payment experience for guests, whether they use their own devices, kiosks, mobile wallets, or credit cards at the table or POS for full-service dining.
Enhancing Customer Experience And Operational Efficiency
Olo emphasized the importance of this partnership in the context of current industry trends. Despite the gradual shift towards digital transactions, a significant 84% of restaurant transactions still occur offline via card swipes on POS systems. The collaboration between Olo and TRAY aims to bridge this gap by equipping more restaurants with the necessary tools to not only increase orders and streamline operations but also to create highly personalized experiences for each guest.
The integration of the Engage suite further enhances the experience for restaurant brands utilizing TRAY. By merging both digital and in-person interactions into a comprehensive guest profile, brands can gain invaluable insights into customer behavior. This deep understanding allows them to deliver customized interactions and memorable hospitality experiences, fostering long-term loyalty and satisfaction.