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PAR TECHNOLOGY CORPORATION

(PAR)
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PAR Technology : Employee Rewards App Provider Onaroll Joins PAR Technology's Brink POS® Integration Partner Ecosystem to Make Work Fun

05/26/2021 | 07:31am EDT

ParTech, Inc. (PAR), a global restaurant technology company and provider of a unified commerce cloud platform for enterprise restaurants, announced today that employee rewards app provider, Onaroll, has recently been added to its growing Brink POS® integration partner ecosystem. Onaroll’s technology app gamifies work and incentivizes productivity for restaurant employees. ParTech, Inc., is a wholly owned subsidiary of PAR Technology Corporation (NYSE: PAR).

In today’s business environment, employee turnover continues to be a challenge for restaurants. When an employee leaves, it costs the average restaurant an estimated $6,000 in lost productivity, recruiting costs, and training. Onaroll helps reduce overall restaurant turnover by keeping staff engaged, motivated, and productive through gamification. Employees earn points for achieving goals such as showing up on time or creating upsell opportunities and can spend their accrued points on perks like gift cards.

The app also rewards employees for staying with their job, giving them tickets to use for sweepstakes drawings for larger prizes. As a result, participating restaurants have seen lower turnover and labor costs while increasing employee morale, productivity, and overall top-line sales.

"We obsess over the team member experience because we believe that their success drives everyone’s success,” said Onaroll CEO and Founder, Pete Ginsberg. “We’re proud to partner with PAR because it enables us to celebrate the shift workers powering some of our favorite brands. PAR makes it fast and easy for us to integrate with their customers."

The results are impressive for restaurants that utilize Onaroll’s app, with sales of incentivized items growing by more than 30% and on-time arrivals improving by as much as 50%. The app also gives operators a leg up on their competition by offering compelling bonuses and productive referral programs designed to help hire quickly while also building employee loyalty.

“Right now, the restaurant industry is challenged trying to attract and hold onto employees,” said Chad Horn, Director of Strategic Partnerships for PAR. “Being able to provide staff with an app that helps keep them motivated and interested in their work usually means they will be more productive, for longer periods. In return, they get rewarded for making the overall business better. It’s a win for everyone involved!”

ABOUT ONAROLL

Onaroll is an employee rewards app that gamifies work to boost sales, retention, and morale. Shift workers are the engine of our economy, powering restaurants, call centers, factories, and more. But often, they switch jobs every few months, creating instability in their lives and costing employers thousands each time. Onaroll makes jobs sticky by celebrating shift workers and rewarding them for performance & loyalty.

ABOUT PAR TECHNOLOGY

For more than 40 years, PAR’s (NYSE Symbol: PAR) cutting-edge products and services have helped bold and passionate restaurant brands build lasting guest relationships. We are the partner enterprise restaurants rely on when they need to serve amazing moments from open to close, during the most hectic rush hours, and when the world forces them to adapt and overcome. More than 100,000 restaurants in more than 110 countries use PAR’s restaurant hardware, software, drive-thru, and back-office solutions. With the recent acquisition of leading loyalty solutions provider Punchh Inc., PAR has become a Unified Commerce Cloud Platform for Enterprise Restaurants. To learn more, visit www.partech.com or connect with us on LinkedIn, Twitter, Facebook, and Instagram.


© Business Wire 2021
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Financials (USD)
Sales 2021 263 M - -
Net income 2021 -34,6 M - -
Net Debt 2021 179 M - -
P/E ratio 2021 -47,6x
Yield 2021 -
Capitalization 1 743 M 1 743 M -
EV / Sales 2021 7,32x
EV / Sales 2022 6,11x
Nbr of Employees 1 031
Free-Float 87,7%
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Mean consensus BUY
Number of Analysts 4
Average target price 103,50 $
Last Close Price 67,44 $
Spread / Highest target 69,0%
Spread / Average Target 53,5%
Spread / Lowest Target 33,5%
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Managers and Directors
NameTitle
Savneet Singh President, Chief Executive Officer & Director
Bryan A. Menar Chief Financial & Accounting Officer
Cynthia Ann Russo Independent Director
Douglas G. Rauch Independent Director
James C. Stoffel Lead Independent Director
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