Scott Miller, CIO of Greenhaven Road, joins the podcast to discuss his thesis on PAR Technologies (NYSE: PAR), where more than 70,000 restaurants in more than 110 countries use PAR’s restaurant point-of-sale, digital ordering, loyalty and back-office software solutions as well as industry-leading hardware and drive-thru offerings (according to the company's website). Voss Capital write-up: https://vosscapital.substack.com/p/pars-path-to-80-redux Greenhaven Road Q4 investor letter ($PAR mentioned): https://static1.squarespace.com/static/5498841ce4b0311b8ddc012b/t/65bd570c0ba5792db938f9a6/1706907404785/Greenhaven+Road+-+2023+Q4+FINAL_.pdf For more information about Greenhaven Road, please visit: https://www.greenhavenroad.com/ Chapters: [0:00] Introduction + Episode sponsor: YCharts [1:30] Overview of PAR Technologies $PAR and why Scott is excited about the idea [4:18] What are the "haters" missing with $PAR [7:54] Burger King customer win [9:42] Competitive landscape [15:20] Why $PAR more than a Point of Sale play; additional verticals [19:04] How do they win more customers / cloud-based vs. not-cloud based point of sale matter [25:28] $PAR recent acquisitions, execution risk / convenience stores [33:55] Growth runway / what keeps Scott up at night about $PAR [38:24] Lumpiness of customer wins/announcements [41:30] Final thoughts on $PAR This episode is sponsored by our friends at YCharts. Numbers and data are one thing, but how you communicate and scale the delivery of these insights to clients is the real challenge. The reality is, people are more inclined to invest their attention and hard-earned dollars when presented with a captivating story and a skilled storyteller. YCharts empowers you with a fully customizable report and proposal offering, allowing you to expertly guide and control the narrative during client meetings. With over 30 modules for returns, risk, allocations, exposures, and holdings breakdowns, you can effectively showcase your strategies’ strengths and your competitors’ weaknesses. To top it off, YCharts Proposals has built-in sharing capabilities so you can create and share report templates for seamless collaboration among colleagues, enabling your team to gather new assets with ease. Check out YCharts' all-in-one solution and easily illustrate the value you bring to your clients. Click the link here to start your free YCharts trial and tell them I sent you: https://go.ycharts.com/yet-another-value