EY Entrepreneur of The Year 2015 Florida
For these game changers, vision is only the beginning.
Founder and CEO
Sam Zietz, founder and CEO of TouchSuite, recognized the electronic transaction processing space was becoming increasing commoditized.
Small businesses didn’t have the same access to point of sales, processing systems, capital markets and customized technology, due to high costs and a lack of ease of use, that large companies did. So, he focused on providing customized technology to small businesses.
Zietz constantly tasks his team to improve efficiency and productivity for their clients, striving for a work hard, play hard environment. He also uses sport analogies to motivate his teams to continue to be leaders in the marketplace. Throughout the TouchSuite office, quotes are written on the walls to empower Zietz’s employees.
In the past two years, TouchSuite has grown tremendously, with year-over-year sales growth of 80 percent in 2013 and more than 40 percent in 2014. In 2014, the company also doubled in profitability over the prior year.
TouchSuite was one of the first companies to offer affordable credit card terminals and free equipment to encourage repeat customers. It also was the first point of sale system in both the U.S. and Canada that was integrated for Europay, MasterCard and Visa, a now global standard for operation of integrated circuit cards.
As his business developed, Zietz utilized his securitization background and created a “reverse factoring” arrangement to provide capital to companies with repayment terms based on a percentage of sales, not a monthly fee.
Unlike most of its competitors who focus on either merchant processing, sales of POS systems or alternative funding, TouchSuite operates in all three arenas to create unmatched value.
In 2014, TouchSuite landed the first commercial Android-based POS system, where business owners could manage operations and execute customer transactions from anywhere via a desktop system and networked tablet. TouchSuite has also developed a groundbreaking tool for predictive business forecasting.
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