For the last five years, Onyx CenterSource has been known as the leading company for hotel commission processing.
As we celebrate our anniversary, however, I am unofficially banning the word “commission” from our vocabulary. It’s something I’ve been talking about internally for a while. And if I had any doubts, they were dispelled this month at FutureSource 2018, our second-annual customer conference.
The theme of this year’s event was “Partners in Progress: Embracing Change to Prepare for the Future,” and we were fortunate to have three days of thought-provoking panels and speakers who talked candidly about the challenges and opportunities facing the hospitality industry.
From blockchain to privacy to cybersecurity and big data, it’s clear that some of these issues are not only daunting but also threaten the very core of some legacy industry business models.
It’s also clear there are many new opportunities for businesses that are willing and able to evolve. And that is exactly what we are doing here at Onyx CenterSource.
At our first FutureSource conference last year, we announced GroupPay, an industry-first-solution for the group, meeting and events space that provides hotels and group planners a transparent, trusted event tracking and payment platform. Today, we have signed an agreement with a major hotel chain and will launch the product later this year. We are proud of this achievement, and it confirms to our customers and the industry that we deliver on our promises.
We have invested millions of dollars to build out a world-class product development team that utilizes the latest technologies. We are developing a number of business intelligence and analytical data services as well as payments solutions that go well beyond commissions.
There was a lot of discussion at FutureSource 2018 about blockchain technology. As Brain Forde, a former tech advisor to President Barack Obama, told the conference, it’s going to be as big as the internet. We all need to monitor the progress of blockchain and expand our knowledge of its application in our industry.
It’s also clear the market is ready to evolve beyond the sole reliance on virtual credit-card payments for merchant pre-paid bookings. We get that and are working on new payment solutions for the entire complex hospitality value chain.
Our goal is to deliver on the products the hospitality industry needs to remain competitive and profitable. The only way to do that is to listen to you – our customers – and experts from across the industry like those who joined earlier this month in Frisco, Texas.
My sincere thanks again to everyone who joined us and participated in FutureSource 2018. We couldn’t have asked for more thought-provoking, intelligent discussions. And rest assured we were listening. Please stay tuned as we capture your voice to continue our evolution.
–Mark Dubrow, CEO, Onyx CenterSource