NEW HARTFORD, N.Y. - ParTech, Inc. (NYSE: PAR), known for its restaurant technology solutions, has announced a partnership with Attentive, a marketing platform specializing in SMS for brands. This collaboration aims to enhance customer engagement for restaurants through PAR Punchh®, PAR's loyalty and offer solution, by utilizing SMS messaging to convert guests into loyal members and drive revenue.
The integration with Attentive allows restaurants to leverage SMS marketing, a channel with a 98% open rate, to grow their loyalty programs and send personalized content. With tools like MMS, video, GIFs, and A/B testing, the partnership seeks to foster omnichannel relationships between brands and customers, both online and in-person.
Savneet Singh, CEO of PAR Technology, emphasized the importance of SMS engagement in today's market for cultivating repeat customers. Attentive's expertise in SMS compliance is expected to streamline the process for restaurants.
Angelique Kamara, VP of Partnerships at Attentive, highlighted the convenience of personalized text messaging for engaging customers throughout their omnichannel journey.
The partnership has already shown positive results for Jason's Deli, with increased SMS subscriber growth and customer engagement leading to higher average spends and repeat visits, as reported by Kim Collura, VP of Marketing at Jason's Deli.
Attentive joins over 200 technology partners in PAR Punchh's ecosystem, with their collaboration representing a unique integration of restaurant loyalty and SMS marketing platforms.
Based on a press release statement, this partnership reflects a strategic move by ParTech and Attentive to tap into the potential of SMS marketing to bolster customer loyalty and drive sales growth for restaurants.
InvestingPro Insights
ParTech, Inc. (NYSE: PAR) is making strategic moves in the restaurant technology space, as seen with their latest partnership with Attentive. Investors interested in PAR's financial health can gain insights from key metrics provided by InvestingPro.
The company's market capitalization stands at $1.48 billion, suggesting a considerable presence in its sector. Notably, PAR's revenue growth over the last twelve months as of Q4 2023 has been positive at 16.87%, which may reflect the company's ability to expand its operations and market reach effectively.
Still, it is important to note that PAR's P/E ratio is currently negative at -17.09, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at -19.06, indicating that the company is not profitable at this time. This aligns with an InvestingPro Tip that analysts do not anticipate the company will be profitable this year.
Moreover, the company's high Price / Book ratio of 4.44 suggests that the market values the company at a premium compared to its book value, which could be a point of consideration for value-focused investors.
For those seeking to delve deeper into PAR's financials and future prospects, there are additional InvestingPro Tips available. These tips include observations on earnings revisions by analysts and the stock's volatility. Specifically, four analysts have revised their earnings upwards for the upcoming period, which could be a positive signal for potential investors. Also, the stock's volatility might appeal to traders looking for short-term opportunities.
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