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Bart Shuldman, CEO
In March, TransAct Technologies—a Connecticut-based food safety technology provider—launched a groundbreaking platform called BOHA!™ with the objective to help restaurants digitize and automate back-of-house operations. BOHA! is an ecosystem of apps and hardware that work together to help restaurants tackle pain points such as rising labor costs, employee turnover, food safety, and quality of food.
Similar to a smartphone that lets users pick-and-choose from a billion apps, BOHA! offers restaurants a pool of apps designed to serve varying purposes. For example, while the Food Prep app helps chefs with precise quantities so as to eliminate waste, the Timer app creates timers for items that require time-tracking. Meanwhile, the Sense app is designed to aid restaurants in avoiding the breakdown of refrigerators. By placing sensors in freezers connected to a gateway in the cloud, TransAct informs restaurant staff when storage area temperatures go out of range. The BOHA! apps can also integrate with one another. For example, to service ovens and fryers, a restaurant can use the Service app to connect to the service provider, before using the Checklist app to mark off preventive maintenance tasks. The Service app also allows restaurants to perform billing for serviced repairs.
Despite its recent foray into the industry, TransAct is already making an impact. Just ask the CEO of a large restaurant company who was shocked to learn that every outlet of his eatery was overcooking the chicken—courtesy the BOHA! Temp app. The apps provide critical insights into what’s actually going on in the restaurant. They take the guesswork out of the process. Since every restaurant has specific requirements, TransAct customizes apps accordingly. “With regard to temperature, some chefs prefer an eight-minute delay, and others want a lengthier delay. We work closely with the restaurant, understand their process, and customize accordingly,” says Shuldman.
As the only single-vendor solution automating back-of-house operations for restaurants, the road ahead for TransAct is filled with limitless potential. “This is a huge opportunity and we’re looking ahead to the future of this industry,” concludes Shuldman.
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Company
TransAct Technologies
Management
Bart Shuldman, CEO
Description
A food safety tech solution provider, TransAct Technologies has launched a new platform to help restaurants digitize and automate their back-of-house operations. The new platform titled BOHA!™ is an ecosystem of apps and hardware that work together to help restaurants tackle pain points such as rising labor costs, employee turnover, food safety, and quality of food. Besides offering apps such for Food Prep, Service, Food Recall, Temp, and Timer, the BOHA! suite of hardware includes the BOHA! Terminal, BOHA! Handheld, BOHA! Sensor, and BOHA! Gateway. All the hardware and software is purpose-built to handle the rigors of commercial kitchen environments
Mr. Shuldman served as TransAct’s CEO since 1996. His steadfast leadership helped the Company successfully emerge from the challenges presented by the COVID-19 pandemic, and he has been integral in developing the Company’s strategic direction.
“On behalf of the Board, we want to thank Bart for his nearly three decades of dedication and service to TransAct and our valued customers. We are fortunate to have in John a highly experienced former chief executive who has been intimately involved in the development of our strategic plan as a director to step in as interim CEO and lead our implementation efforts. He is very familiar with our culture and our operations, having served on our Board for more than a decade,” said Board Chair Haydee Olinger.
“I am eager to take a more active leadership role in the business as we look to grow revenue and execute on our strategic plan,” added Mr. Dillon.
“After 27 years of serving as TransAct’s CEO, it feels like the right time to step away and spend more time with my family. The Company is in a position of strength, and I have no doubt that John will help lead TransAct into its next stage of growth,” said Bart Shuldman.
Mr. Dillon has been a Board member since 2011, is an experienced executive, and has previously served as the CEO of several companies. He is Chairman of Aerospike, Inc. and previously served as Chief Executive Officer of Aerospike, Chief Executive Officer Engine Yard, Inc., Chief Executive Officer of Navis, Inc., Chief Executive Officer of Salesforce.com, and President & Chief Executive Officer of Hyperion Solutions. He began his career as a Systems Engineer for EDS (Electronic Data Systems) and then moved into a variety of sales management positions for various high-tech companies, including Oracle Corporation. Mr. Dillon received an undergraduate degree from United States Naval Academy and an MBA from Golden Gate University.
Fiscal Year 2023 Outlook
Management is reiterating its fiscal year guidance of revenue between $70 million and $72 million and total adjusted EBITDA between $5.2 million and $5.4 million.
Outlook for non-GAAP adjusted EBITDA is presented only on a non-GAAP basis because not all of the information necessary for a quantitative reconciliation of this forward-looking non-GAAP financial measure to the most directly comparable GAAP financial measure is available without unreasonable effort, primarily due to uncertainties relating to the occurrence or amount of these adjustments that may arise in the future. If one or more of the currently unavailable items is applicable, some items could be material, individually or in the aggregate, to GAAP reported results.