-- "This new report ( 
https://c212.net/c/link/?t=0&l=en&o=2628574-2&h=4169221016&u=https%3A%2F%2Fcampaign.freedompay.com%2Fhospitality%2Freport%2F%3Futm_source%3Dpr%26utm_medium%3Dreferral%26utm_channel%3Dreferral%26utm_content%3Dhospitality-release%26utm_campaign%3Dleadgen-hospitality-hospitality-release-fy19q4-global&a=report 
) provides real strategy to outperform the competition in a rapidly evolving 
market," said FreedomPay Founder and CEO, Tom Durovsik 

Payments Innovator, FreedomPay, the global leader in secure commerce technology 
for lodging, retail, restaurants and other hospitality merchants, today 
announced the publication of a new Report entitled Hospitality 2020+ The 
Reasons Why We Talk About Data-Driven Commerce. 

The extensive analysis takes an in-depth look at how enterprises that wish to 
get and stay ahead in a highly competitive and changing sector, need to embrace 
a next generation fully integrated customer centric platform across all 
channels. 

More efficient management of big data, and the delivery of improved real-time 
business and customer intelligence, while enhancing existing legacy systems, 
will allow them to satisfy the demands of increasingly tech-savvy and demanding 
consumers. 

New technology, online services and increased consumer spending power have 
fuelled a decade of continuous growth for the hospitality industry. Travel and 
tourism (including hotel, lodging and food and beverage) now accounts for over 
10% ( 
https://c212.net/c/link/?t=0&l=en&o=2628574-2&h=2179844011&u=https%3A%2F%2Fwww.wttc.org%2F&a=10%25 
) of global GDP. The global hotel industry alone is worth $525bn ( 
https://c212.net/c/link/?t=0&l=en&o=2628574-2&h=3982084669&u=https%3A%2F%2Fwww.ihgplc.com%2F-%2Fmedia%2FFF2DB7BB29C54FF2824393006F15A08F.ashx&a=%24525bn 
), with US revenues upward of $200bn annually. 

With potentially millions at stake, businesses that deliver seamless, 
ultra-convenient experiences that their customers have come to demand 
(combining security, payment, loyalty and offers), are those that will achieve 
the most significant success in the market. These technological shifts include 
the rollout of user-friendly apps, online booking and check-in, advance 
ordering and e-loyalty programs.  

Additionally, while many hospitality businesses have focussed their attentions 
on front-end improvements, a large number have overlooked vital back-end 
functionality, resulting in disjointed and fragmented operational systems which 
are a threat to growth and their competitive place in the sector. 

FreedomPay Founder and CEO, Tom Durovsik said: "Across the hospitality sector, 
businesses of all sizes are finding themselves having to adjust their 
strategies to survive in a new data driven era - one of optimistic local and 
global growth but also one of unprecedented change in terms of competition, 
guest expectation, technological empowerment and data regulation. This report 
clearly highlights the advantages of having a truly data driven customer 
centric strategy that provides fully integrated solutions via a single payments 
platform across in-store, online and on-mobile." 

A direct relationship with customers 

With the hotel industry surpassing $500bn globally, the size of the prize is 
attracting large and small operators, all battling for a bigger slice of the 
pie. At the same time, pricing power is shifting to the consumer, who is likely 
to browse online for venues offering the best value, location, and service 
reviews.  

Data indicates that enticing customers to book through a provider's proprietary 
channel rather than a third-party, results in savings of up to 20% 
(https://c212.net/c/link/?t=0&l=en&o=2628574-2&h=2823700473&u=https%3A%2F%2Fwww.
cognizant.com%2Fwhitepapers%2Fhospitality-in-the-digital-era-codex2543.pdf&a=20%
25 ). To add to this, 26% of travelers say that service and experience is why 
they choose a particular brand when deciding where to stay, which further 
outlines the importance of having the right digital architecture in place. 

The solution -- value of true end-to end integration

Using an integrated commerce platform as a central data engine allows 
businesses to surround and expand current siloed systems, improving the guest 
experience, creating an effortless franchisee management system and providing 
smarter data and business intelligence. A customer-centric commerce platform 
also creates an architecture that fuels innovation and provides businesses with 
the ability to 'future-proof' and de-risk services, allowing for agile business 
decision making and driving competitive advantage.

Christopher Kronenthal, President and CTO of FreedomPay added: "Hospitality 
organizations can no longer allow outdated legacy providers to hold them back 
and must act now to assimilate important functions into data driven connected 
digital architecture. The vast majority of processors simply cannot keep pace 
with advancing technology.   

"A Commerce Platform provides a viable opportunity to achieve this with minimal 
risk and disruption. In addition to managing transactional data from real-time 
interactions across multiple booking and sales points (POS) -- they are able to 
deliver a clear understanding of what is happening and why. Not just within the 
purchase journey, but across all industry silos to reveal the key factors and 
experiences that are influencing decisions.

"Using a platform as an open and integrated engine to drive data to, and from, 
other non-sales facing hospitality functions, unlocks huge potential to reduce 
cost, improve customer experience and revenue as well as to enhance loyalty and 
long-term profitability."

To access the Hospitality 2020+ The Reasons Why We Talk About Data-Driven 
Commerce Report, please visit this link ( 
https://c212.net/c/link/?t=0&l=en&o=2628574-2&h=2985255078&u=https%3A%2F%2Fcampaign.freedompay.com%2Fhospitality%2Freport%2F%3Futm_source%3Dpr%26utm_medium%3Dreferral%26utm_channel%3Dreferral%26utm_content%3Dhospitality-release%26utm_campaign%3Dleadgen-hospitality-hospitality-release-fy19q4-global&a=this+link 
).

About FreedomPay

The FreedomPay Commerce Platform is the technology of choice for many of the 
largest companies across the globe in retail, hospitality, lodging, gaming, 
sports and entertainment, foodservice, education, healthcare and financial 
services. FreedomPay's technology has been purposely built to deliver rock 
solid performance in the highly complex environment of global commerce. The 
company maintains a world-class security environment and was first to earn the 
coveted validation by the PCI Security Standards Council against Point-to-Point 
Encryption (P2PE/EMV) standard in North America. FreedomPay's robust solutions 
across payments, security, identity and data analytics are available in-store, 
online and on-mobile and are supported by rapid API adoption. The award winning 
FreedomPay Commerce Platform operates on a single, unified technology stack 
across multiple continents allowing enterprises to deliver a consistent, 
repeatable experience on a global scale. For more information, please visit 
www.freedompay.com.

SOURCE: FreedomPay

CONTACT: Gug Kyriacou, FWD Consulting, freedompay@fwdconsulting.co.uk, +44 (0) 
207 623 2368