The start of a new way to manage hospitality operations, powered by cloud technology
After years of founding successful restaurants in the UK, growing them to chains and selling them, Derek and Edwina Lilley had a lightbulb moment that was to change the way hospitality businesses would be run forever.
They saw then-emerging cloud technology could automate and streamline procurement and inventory. And because the hospitality systems would be based on a demand forecast, it would eliminate unnecessary spend on inventory. No more spreadsheets and different versions of events - just one version of the truth, in the cloud, in real time.
Building a company and a robust hospitality solution from the ground up
Recognizing this was no simple undertaking, Derek and Edwina sold their restaurants and recruited their first employee, Ben Hood. They travelled the world seeking the brightest tech talent who understood their vision for the global hospitality sector. Inventory management came first, followed by procurement. And the innovations keep on coming, making Fourth's the only end-to-end system in the world.
Growing and serving our customers worldwide
Seventeen years later, Ben, employee #1, is still our CEO, and has been joined by 399 colleagues in seven offices and 1,100 customers across the world in 60 countries. In 2015, NYC-based Insight Venture Partners acquired the majority shareholding in Fourth. Today, we look forward to continuing to serve the needs of our customers by providing the best cloud-based operations, cost management and forecasting software for hospitality.
Sam Lilley, elder son of Derek and Edwina, was there from the beginning – literally. Now Fourth’s Director of Solutions Architects, he remembers the humble beginnings leading to the creation of restaurant groups that came to dominate the UK restaurant scene in the 1990s.