Loop Insights Inc (CVE:MTRX) (OTCMKTS:RACMF) announced that it has joined the Oracle Partner Network (OPN), initiating a relationship with a leading provider of point-of-sale (POS) systems and cloud reporting.
Being a part of the OPN enables Loop Insights to collaborate with one of the largest global POS providers for retail and hospitality and puts its Insights platform in front of thousands of retailers in the Oracle client base. This makes it easier for Oracle’s customers to work with Loop and get access to real-time data, multi-location reporting, and cross-channel marketing opportunities.
Oracle is the second-largest POS provider in the world, representing 12% of the global market, according to a 2020 RBR POS report. The POS terminals market is experiencing huge growth, with a recent Researchandmarkets.com report predicting that the market will grow from US$68.2 billion in 2019 to US$149.4 billion by 2028.
READ: Loop Insights inks Proof of Concept agreement with Suresite, representing its entry into the UK’s retail energy sectors
The company called the move a key relationship in its overall channel strategy. OPN integration extends the company’s reach by allowing Loop to work with retailers by connecting it to the cloud, while also driving high margins and a faster time to market, as no hardware is required.
This entry into the OPN marks the next step in Loop’s progression of POS integrations as the company continues to move towards the integration of all major POS systems. Being part of OPN will help get Loop in front of major brands and retailers in the Oracle network, which includes international chains like Gap and Burger King, and offers Loop a unique networking and business development opportunity, the company said.
“Loop’s prominence and capabilities in the POS market are set to increase exponentially, thanks to our acceptance into the OPN,” Loop CEO Rob Anson said. “As a result, we expect to see continued advances in both our client base and collaborations. This agreement offers us a great opportunity to leverage the Oracle brand and benefit from their resources and position as an industry leader. This further extends our POS market reach through channels, having reached agreements with Vend, Shopify, VenueNext, and now Oracle.”
The company anticipates that this relationship will initiate many new conversations with Oracle’s extensive portfolio of clients and collaborators, similar to what has been seen through other successful relationships, such as becoming part of Amazon’s Preferred Partner Network and its partnership with Vend.
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel
Story by ProactiveInvestors
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