What We Can Learn From Working With Educators
“Ecosystems” and “collaboration” are two words that are increasingly being used within the commerce space. Being able to connect across channels, businesses, brands, with partners and providers is now ‘mission-critical’ in order to attract, engage and fulfil the experiences demanded by today’s digitally empowered enterprises and consumers.
This is particularly true of specialized markets, such as hospitality, which possess their own unique sales and operational challenges. Be this from social, behavioral, regulatory, technical or economic change.
The rapid pace of transformation makes it essential to pool resources and share experiences wherever we can, to overcome collective issues and create new opportunity for growth.
Gone are the days of siloed mentalities and competitive protectionism – when it comes to the big issues, we are all partners now.
Universities provide vital research support
It’s in this spirit of collaborative expertise that FreedomPay recently entered into a long-term co-operative partnership with the prestigious Center for Hospitality Research (CHR) based at the School of Hotel Administration (SHA), Cornell University.
Representing a global hub for hospitality teaching and research, its Customer Advisory Board includes industry stalwarts like Marriott International, Hilton Worldwide, Hyatt and PwC.
Being part of this unique collective not only allows us to bring a fresh perspective on the hospitality business but also to champion research into areas such as loyalty, data, and the prioritization of technology within the hospitality sector, achieving far more together than we could alone.
Role for tech-innovators
As innovative commerce solutions become more important – not just in hospitality, but across many other niche retail areas including gaming, entertainment and travel – nurturing insight, encouraging innovation and supporting future leaders (through internships, scholarships and funding research), will become a pre-requisite for businesses’ long-term strategies.
For universities, working with technical experts provides a practical perspective on real-life industry challenges such as revenue generation, efficiency or user experience (UX).
It makes sense for businesses too, because teaming up with an educational establishment is a two-way process, enabling businesses to influence and carry newly acquired knowledge forward into their own services and solutions.
There’s no doubt that partnering with Universities and research institutes gets us closer to the heart of cutting-edge thinking and to the young talent that will help shape all of our futures.