Sertifi's Hospitality Industry Agreements & Payments Assessment Sneak Peek

Recently, Sertifi partnered with Women Leading Travel and Hospitality to survey travel and hospitality professionals and evaluate the processes in which they finalize agreements and process payments. The survey, conducted by NAPCO Research, grouped participants into four key industry segments: travel, hotels, event venues, and tourism. Participant responses illustrated several opportunities to make their agreement and payment processes more efficient and secure. 

For example: 

• Nearly 50% of respondents are getting back scanned contracts with handwritten signatures. 
• 57% of respondents are conducting credit card authorizations manually. 
• Over 50% of respondents claim there’s a substantial opportunity to create more mobile and global friendly experiences. 

While each segment flexes its own strengths based on priority, and many professionals within each segment consider their systems efficient, there is still room for improvement. Several reported pain points that can easily be addressed with simple, low-cost digital solutions, which would equally enhance security and PCI compliance. 

The report also highlights the similarities and differences between each segment, indicating inconsistent behaviors and priorities between the professionals in each segment when it comes to finalizing agreements and payments.

For example: 

Altogether, the report shows that the hospitality industry, and all the segments within it prioritize efficiency and security in different areas of their processes and are eager to simplify not only their agreement experience but their customers’ as well. Through greater alignment, education, and technology adoption, together we have an opportunity to strengthen the entire hospitality and travel network with faster, more secure agreement-related processes.