Fintech Leaders Savneet Singh, CEO of PAR Technology - The $3B Turnaround: Transforming a Failing Company into a Tech Leader
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Jan 21, 2025 In this engaging discussion, Savneet Singh, CEO of PAR Technology, shares his remarkable journey from a pre-med student to leading a company from crisis to a tech titan worth nearly $3 billion. He highlights the importance of strategic prioritization during corporate triage and the insights gained from M&A strategies. Savneet also addresses how inflation is reshaping the restaurant industry and how technology can support struggling businesses. His experiences underscore the value of resilience and continuous innovation in achieving long-term success.
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PAR Technology's Initial Struggles
- Savneet Singh joined PAR Technology's board in 2018, initially to help grow its small software business.
- The company faced multiple crises, including DOJ investigations, activist investors, and low customer satisfaction.
Unexpected CEO Role
- Savneet Singh initially aimed to sell PAR Technology but became CEO when a suitable replacement couldn't be found.
- He discovered the company's dire financial situation on his first day, forcing him to shift his focus to rescuing it.
Corporate Triage
- Prioritize cash flow, especially during crises, and be decisive.
- Lead by example, own your decisions, and communicate transparently with employees.
