Your product's name will be relevant when browsing the help center or contacting support, as it might help you receive faster advice and assistance for your particular product.
Your product name will also be relevant when purchasing new hardware or add-ons, as you'll be able to use it to see what's compatible with your product. For example, the Self Order Menu product will be labeled Lightspeed Self Order Menu (L-Series).
Finally, you will be able to use the new name to check if any communications about updates, news or offers are relevant to your particular product.