Overproof – the first and only business intelligence company that offers brand management and intelligent field execution tools for the beverage alcohol and hospitality industries – is proud to announce the launch of BarInsights, a platform that empowers bars and restaurants to monetize their existing POS sales data, and gives suppliers unprecedented insight into their on-premise performance and return on investment (ROI).
“BarInsights facilitates strategic partnerships between on-premise accounts and beverage alcohol suppliers,” said Marc De Kuyper, CEO of Overproof. “For beverage alcohol brands, the lack of on-premise performance data is a fundamental issue to determine ROI or ‘return on effort’. The platform opens a new revenue stream that offers consistent, monthly profit to merchants, while giving suppliers the insights they need to make data-backed decisions that drive brand strategy, product development, and marketing and sales efforts.”
How It Works
BarInsights makes it easy for bars and restaurants to capitalize on the data their POS system already collects. Once enrolled, Overproof integrates directly with the merchant’s POS system. Merchants upload their beverage menu and set pricing for the performance insights related to items on the menu, including base spirits and modifiers. Popular items generate larger datasets and more valuable insights, so BarInsights gives merchants full flexibility on pricing.
Merchants connect with their current supplier partners on the BarInsights platform, or use the BarInsights marketplace to establish new supplier relationships, and offer them the ability to purchase the brand trend insights related to their brand. Once a supplier accepts, Overproof’s Data Science team begins to pull the data, and cleans, enhances and enriches it to deliver the monthly reports. Overproof handles payment collection from all supplier partners and delivers an all-in-one monthly payment to the merchant.