Lecere isn't anywhere near being the first software company to help a restaurant manage software. On a feature by feature basis they are not particularly strong over any competitors, based on the limited research I have done (granted I'm chomping at the bit to see their August updates). I'd say that their development approach makes them the most flexible software solution among those that I've reviewed, which makes barriers to entry a non-issue in most situations.
What Lecere has an opportunity to do is to beat the other companies simply with their business model--by using a cheap subscription based model. This has a bad effect of delaying signficant earnings while they do this but once they've established the economies of scale could prove quite profitable.
I'm cautious on Lecere's future simply because they need to keep selling shares while they keep their operations alive. I'd simply like to get to the point that at a minimum shareholder value can be maintained. It's a gutsy play with ballooning O/S and a potential reverse split beyond this year.
The company has a limited time to market before someone wih more resources gets it done faster, cheaper, etc. They won't have investors if they dump shares and R/S every year, so they have to get self sustaining. I'm hoping these August updates will pave the way for eoy activities that will help accomplish this. If not, it changes my perception of an investment here drastically.
