Company: Jory LLC
Portland, Ore.-based Jory LLC created business management software-as-a-service designed to facilitate every aspect of running a small merchant's business – from front office to back office. Jory feature sets can be turned on and off, scaling the solution up or down according to individual merchant requirements. The user interface provides a single-access, real-time view into POS transactions, inventory, employee management, e-commerce and mobile POS activities, the company noted.
Jory Chief Executive Officer Michael Hass, who has more than 20 years of payments industry experience, said he was motivated to create a better payment technology experience for ISOs and merchants. "Companies in the mPOS space were doing a phenomenal job for merchants but not so much for acquirers," he said. Hass said he encountered three common problems in his work with emerging technology companies: insufficient residual income, lack of core features and substandard support.
Hass set out to solve the three problems. He founded Jory, named after the richly layered Jory soil of Oregon's Willamette Valley, claiming that its rich blend of minerals provides a perfect environment for growth. The tagline: 'engage, transact, operate' signifies the myriad ways in which merchants transact on the Jory platform. Following are examples Jory provided of the tagline in action:
Hass said that with his team of experienced payment professionals, he combined extensive research on merchants and acquirers with a collective knowledge base to build an intelligent business platform designed to appeal to vendors, customers and employees. Jory prototypes were finalists in the 2015 Catapult Innovation Award and SEAA's WhatsApp competitions.
"Our team comes from the payments space, and we identify with our partners," Hass said. "We respect their merchant relationships and support the ISO regardless of who they are processing with." He added that other technology providers have been known to compete with ISOs or lock them into outdated sales models. Jory prides itself on being truly processor-agnostic and committed to providing excellent support and long-term recurring revenue streams.
In an effort to appeal to a wide audience, Jory continues to build upon the base product by adding niche market functionality. One such endeavor is a club management tool, designed for merchants who have wine and other kinds of subscription-based gifting services.
Hass noted that the Jory platform, which has all the expected features such as loyalty, rewards, and discounting, will continue to evolve in accordance with changing trends in retail and hospitality. Its modular design enables merchants to adapt and grow the system using a range of technologies, reporting tools and back-office resources.
The company stated the unique shape and ergonomic design of Jory hardware is a brand differentiator, designed to stand out among consumer-facing POS devices. While the hardware pairs well with Jory software, Hass recognizes that many merchants already have hardware in place, and Jory supports a growing list of compatible hardware models.
Jory's 2016 road map includes plans to open its application programming interface to third-party developers whose innovative software add-ons can enrich the company's ever-expanding business management ecosystem.
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