How First Data reinvented itself to become 2015's biggest IPO
Originally published on Fortune.com, October 21, 2015
“The payments-processing giant is staking its comeback on a big tech bet—selling apps and Big Data services to millions of small businesses.”
A look inside...
The Salon Scheduler app (on Clover) reminds spa and manicurist clients of appointments and prompts them to rebook if they’ve been absent.
Give an app called Stock (on Clover) the data on how much sauce and cheese goes into a large pizza, and it will reorder ingredients automatically, based on your sales.
The most popular app (on Clover) is an employee-management tool called Homebase. It’s been a boon to Angelo Vivolo, proprietor of Vivolo, an Italian eatery on Manhattan’s Upper East Side. The Clover, says Vivolo, gives him tools that big businesses already have. “It’s like going from the Stone Age to the modern era,” he says.
Insightics also alerted (Becky) Sunseri that Tin Pot’s sales were lowest at midday, so she started offering lunchtime discounts that sweetened sales. From Clover, she says, Tin Pot got “data we would never have the time or the finances to collect or analyze ourselves.