Roadblocked by legacy systems
Octopus was created to help hotels, restaurants, bars and campsites to manage the complexity of running booking and reservation systems. Their goal from the beginning was to create a unified system to help hospitality businesses to run their operations in a simple and cost-friendly way.
Their ambition to build an unified POS and mPOS offering was hindered by legacy payment systems and acquirers, who, despite seeing the market demand for an all-in-one and integrated solution, kept the hospitality industry waiting and roadblocked any integration projects for years.
A fragmented system
Running a hospitality business is extremely complex. Hotels and restaurants need a stack of tools to manage reservations and customers change their preferences - especially about how they prefer to pay. This forces the hotels to have multiple payment agreements in place and spend time on price negotiations with different vendors. On top of that, they have to dig through scattered data to understand their cash flow and expenses, and invest hours training staff on all the different systems required just to accept payments.
About
OCTOPUS PMS is a property management system, offering a 360 solution to support the hospitality sector. It connects all areas of operating a hotel or restaurant into one place.
Industry
Hospitality
Integrated through
OCTOPUS PMS
Products used
Henrik Jakobsen
Sales manager at OCTOPUS PMS
Solution
Octopus and Vibrant joined forces on the simple understanding that hospitality business owners should only need one agreement with a payment provider to handle all of the complexity. Vibrants payment terminals and online payments were integrated into the Octopus system so that all businesses can accept payments with ease, and access their revenue and payment data in one place.
The response has been great - we’ve brought simplicity and efficiency to the business owners with a simple unified view of their data. Restaurants have been able to add mobile payment terminals to their staff to take payments at the tables and add new revenue streams with outdoor patios and pop-up stalls in the summer. Some customers have reported a growth of 30% of earnings.
Future collaboration
Now, with unified payments built into OCTOPUS system, the collaboration is only starting. Vibrant and OCTOPUS are committed to solving all troubles for the hospitality business owners and adding new functionalities and features, while optimising the current payment setups and fees.
This partnership promises to bring convenient, compliant & efficient operations easily into the day-to-day of hospititality business owners across the Nordics and Europe.
Results
Streamlined operations across locations
Scale payment terminals in seconds
Increased revenue opportunities
Improved financial insights and reporting
