Frost & Sullivan Recognizes HP for Robust Growth in the Highly Competitive POS Systems Market
- The company's well thought-out strategy has helped edge out fierce competition for customers and service provider relationships
MOUNTAIN VIEW, California, Oct. 10, 2012 /PRNewswire/ -- Based on its recent analysis of the point of sale (POS) systems market, Frost & Sullivan recognizes HP with the 2012 Global Frost & Sullivan Award for Product Line Strategy. In a challenging economic environment, HP has steadily grown its market share and created strong inroads into the POS systems market by leveraging a strong product line and distribution strategies to grow its client base and build synergistic partnerships.
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"Very few companies in the POS market have been able to balance their business and product strategies to match customer expectations across different verticals and geographies," said Frost & Sullivan Research Analyst Aravindh Vanchesan. "Through its unique value proposition of being able to appeal to retailers looking for affordable, industry standard, PC-based technology combined with retail hardening, necessary for POS, HP has rapidly grown in its market share in this space even under challenging economic conditions to just over twelve percent."
HP has a comprehensive product line that offers retailers an end-to-end solution comprising of hardware, peripherals, technology convergence (mobile, digital signage, kiosks), ISV partnerships and global distributor/channel relationships. Along with a wide selection of retail-hardened POS systems that cater to both SMB customers as well as global retail deployments involving thousands of POS terminals, the company has a powerful line of PCs that can operate in retail stores as a desktop or store server.
Further, HP provides standalone and integrated retail peripherals to complement POS offerings, including cash drawers, barcode scanners, touchscreen displays, receipt printers, magnetic stripe readers (MSR), and pole displays, among others. In late 2011, HP also announced the launch of its new mobile POS solution, based on the HP Slate 2 tablet designed specifically for retail environments. HP adds important value to these products by offering a long lifecycle of support and partnering with industry leading software providers to allow retailers to truly customize their POS technology.
"Through its strategic partnerships with channel partners and distributors, HP is helping retailers manage their operations efficiently whilst expanding its customer base rapidly," observed Aravindh Vanchesan. "Its competitors have been unable to build or leverage partnerships with the channel community to the same extent, which provides HP with a significant competitive edge."
Thus, many customers prefer HP due to its global presence and ability to provide POS systems and ongoing support/maintenance through its channel partners in many geographic regions. Already, HP has expanded into virtually every vertical market in the POS systems space with several high profile deployments in specialty retail, general merchandise, department stores, supermarkets, grocery stores, convenience stores, hospitality (bars and quick service restaurants), and universities and colleges.
"Overall, the company's re-calibrated business model that uses a dual-pronged approach by pursuing both the long lifecycle retail desktops as well as dedicated POS systems market has allowed retailers of all tiers to leverage HP's technology as a flexible and modular solution and sustained the company's business through a challenging period for the industry," concluded Aravindh Vanchesan.
In recognition of these achievements, Frost & Sullivan is pleased to present HP with the 2012 Global Product Line Strategy Award in the POS systems market. Each year, Frost & Sullivan presents this award to the company that has developed a comprehensive product line that caters to the breadth of the market it serves. The award recognizes the extent to which the product line meets customer base demands, the overall impact it has in terms of customer value as well as increased market share.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
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