Why customer centricity is the secret to winning in vertical SaaS

This post continues our blog series based on conversations from the Fintech Takes podcast, hosted by Alex Johnson and Pipe CEO Luke Voiles. Each episode brings together leading voices from across fintech to explore how technology is reshaping the future of financial services.

In this installment, we sit down with Bryan Solar, Chief Product Officer at SpotOn, to explore the power of customer centricity. His perspective shows why focusing deeply on one customer segment—independent restaurants—has helped SpotOn build more impactful products, stronger adoption, and a culture rooted in empathy.

Loved by some, not liked by all

For software companies, trying to be all things to all people is a dangerous game. Focus matters. SpotOn began with a wide footprint across industries, but made a deliberate shift to focus on restaurants. For Bryan, the lesson was clear: be indispensable to a few, not generic to many.

"We’d rather be loved by a subset than liked by a lot of people. Some people like hot tea, some like iced tea, but no one wants lukewarm tea." 

By narrowing in on restaurants, SpotOn avoided the trap of “lukewarm tea” product design. Instead, it created solutions fine-tuned to the daily realities of restaurant operators. That fine tuning starts with a deep understanding of what restaurant owners face day-to-day.

SpotOn doesn’t just interview customers; every employee “adopts” a merchant and spends time working shifts. That practice builds empathy and product insight that no lab environment can replicate. The key is starting from the customer problem, rather than building the solution we want to build and trying to shoehorn customers into it.

"Working a shift at my adopted merchant, a local bar, I realized how frustrating one unnecessary button could be when 30 people were waiting. Suddenly it’s not a feature, it’s Frank’s problem. That’s when I know we’re building the right way." — Bryan

As Luke noted, every second saved in that environment has real impact:

"If each bartender can serve three extra drinks an hour because the system works faster, that adds up dramatically. Delays don’t just cost time, they cost revenue, tips, and customer experience." 

Knowing your right to win

SpotOn’s product philosophy is grounded in humility. Rather than trying to build everything in-house, they double down where they can be best in class and partner where others do it better.

"We must be really good at helping restaurants run well—reporting, reliability, orders. But if we can’t be the best at something, I wouldn’t want my Aunt Laura to have a suboptimal experience just so we could make an extra $3 a month." — Bryan 

This “low ego, high impact” mindset ensures SpotOn only owns the pieces where it can truly differentiate, while staying flexible with best-in-class partners for everything else. In the end, the goal is to build the best customer experience, even if you’re not building every piece yourself. Like President Harry Truman once said, “It's amazing what you can accomplish if you don't care who gets the credit.”

Customer centricity means finding the best way to solve the problems your customers are facing. And vertical SaaS has the advantage of being both narrow and deep; solving multiple problems for a very specific customer, all in one place. SpotOn’s Daycheck is a great example of solving additional problems; in this case making earned wages accessible for restaurant staff earlier.

Luke connected this to a broader lesson in retention:

"The second a customer adds a new product, retention jumps 30–50%. Add a third, and churn basically disappears. Solutions like Daycheck don’t just help staff, they strengthen the restaurant ecosystem and make SpotOn stickier."  

Embedded finance as part of the whole

For SpotOn, embedded finance is inseparable from customer centricity. Payments, loans, and labor products aren’t standalone, they’re enablers that make the core software more valuable.

"Payments revenue funds the software, but no one cares about accepting payments by itself. They care about whether the system helps them run a stable, resilient business." — Bryan 

Luke emphasized that financial services are not the product, they’re the multiplier:

"Nobody wakes up excited to accept payments. Financial services alone aren’t enough. But embedded in vertical SaaS, they solve pain points and unlock time, which is what small business owners value most." 

Democratizing technology for independents

Beyond features and finance, Bryan framed SpotOn’s mission in broader terms: helping independents thrive in a world dominated by chains.

"Imagine a neighborhood that’s just a Chili’s, a Subway, and a Wendy’s. No one wants to live in that world. Our mission is to arm independents with the same tools big brands have, so they can survive and succeed."  

Luke tied this back to the idea of accessibility:

"Franchises hand you the playbook—POS, suppliers, marketing, everything. But with vertical SaaS, independents finally get the same support. They can spend less time on back office and more on food, experience, and community. That’s democratization in action." 

Data, AI, and the next era

The next frontier for restaurants is turning data into decisions. As Bryan noted, many owners don’t even know if they’re profitable, let alone which menu items are driving or draining margin.

"It’s shocking how many operators don’t know whether they’re winning or losing. More hours won’t fix unprofitable shrimp. But with the right data, they can make better decisions and succeed." 

SpotOn’s new ProfitAssist tool illustrates this potential.

"ProfitAssist flagged a recipe change that was costing one diner $400 a day. Without AI, no one would have caught it. That’s the power of vertical-specific analytics." 

As Luke summed it up:

"If you can connect every invoice, every ingredient, every dish, and then layer AI on top, you can make a restaurant 25% more profitable with just a few changes. That’s magic." 

The road ahead

Looking forward, Bryan sees technology as the key to balancing rising costs with better experiences.

"Labor and food costs keep rising, but no one wants a world of robot restaurants. The future is tech making staff more efficient, so they can focus on customers, not bookkeeping or chasing invoices." 

For Luke, that future is already in sight:

"Independent restaurants make you feel like you’re walking into a friend’s kitchen. Vertical SaaS is making it possible for them to spend more time with customers and less time buried in the back office. That’s the future I want to live in." 

Want to hear the full conversation with Alex, Luke, and Bryan? Watch the complete Fintech Takes episode here. And stay tuned for the next blog in this series, where we’ll continue unpacking the themes and insights shaping the next decade of fintech.