The SaaS Revolution Show Leadership under pressure: How Savneet Singh saved and scaled PAR
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May 22, 2025 Savneet Singh, CEO of PAR, transformed a struggling multi-billion dollar public company after taking the helm with just weeks of cash left. He shares his urgent measures to avoid bankruptcy, including significant workforce cuts. Transparency and bold principles like Speed and Ownership became core to PAR's turnaround. Savneet also delves into operationalizing AI for efficiency and discusses the personal sacrifices of being a SaaS CEO, emphasizing the need to be fully committed to achieve success.
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Last-Minute CEO Takeover
- Savneet Singh became CEO expecting a part-time role to sell the company but found they had only 8 to 10 weeks of cash.
- This realization sparked his entrepreneurial energy to solve the impending bankruptcy problem quickly.
Workforce Cut to Reset Culture
- Savneet led a rapid 20% workforce cut within 10 days to save PAR and set a new culture.
- Transparency and taking accountability at the town hall earned a semi-standing ovation despite the painful layoffs.
Balancing Turnaround and Growth
- PAR balanced turnaround with growth by investing to rebuild their core product while maintaining customer satisfaction.
- The company focused on five major goals annually, driving ambition and reinforcing a high-performance culture.