Starting November 1st, Paytronix will have officially joined Access Group, a renowned UK-based software company known for tackling challenges in the manufacturing, finance, construction, recruitment, legal, education, health and hospitality sectors. As dedicated problem solvers, Access has acquired Paytronix to enhance their hospitality solutions and support their expansion into the US market.
In the days leading up to the acquisition, Jonah Paransky, Head of Americas at Access Group, and Jeff Hindman, CEO of Paytronix, sat down and shared their enthusiasm in a brief Q&A session about this exciting development.
Jeff:
Hey, boss.
Jonah:
*laughs* Hey Jeff.
Jeff:
Listen, let’s keep this casual – the team is going to get a lot of virtual meetings and emails about the acquisition over the next few weeks, but I want to give the folks reading this an opportunity to understand some of the background behind this acquisition and why it’s so exciting for both of our brands.
Jonah:
Sounds good!
Jeff:
Great, I think it makes sense to start here - what is the opportunity behind this acquisition?
Jonah:
Yeah, I want to start by saying that as our teams have spent time together, I am convinced that our two organizations are a natural fit – both business wise and culturally.
When looking at this strategically, the magic for both of our brands is growth through new opportunities. For Access, if you look at our acquisitions over the last few years, we’ve slowly begun to expand here in the US. Access is largely unknown here – it’s an untapped market for us that we are heavily prioritizing growth in. Through the acquisition of Paytronix, we can deliver critical tools to renowned restaurant and convenience brands that are growth focused and have an appetite for investment in technology. They can serve as a springboard for Access’s growth in the US and play an anchoring role in building our footprint here. Of course, Paytronix is a name that holds a lot of weight in the industry, and we knew that when we wanted to acquire additional hospitality technology in the US market penetration would be key – this was a perfect match.
Jeff:
Adding to that, seeing how we can bring supplementary capabilities to the US market presents an opportunity as well, correct? By working together, we can add Guest Wi-Fi, enhanced digital ordering systems, and reservation booking software to our platform. This will really boost guest engagement for all our customers.
Jonah:
Absolutely! One of the reasons this is possible is because our products take unique approaches to enhancing the guest experience. From booking and ordering to the actual visit, there are countless moments where technology can make things better. We’re here to make that happen. By combining our solutions, we can offer an even more complete and optimized guest experiences.
Jeff:
That’s great, Jonah. For the folks that haven’t heard of you or are concerned about how this will impact our vision, what do you say to them?
Jonah:
I would say that both Paytronix and Access share a real passion for customer excellence and providing problem-solving technology that fosters growth. This move will enable us to accelerate the functionality and innovation we bring to restaurant and c-store operators across products and customer support.
For those worried that the direction of the company, or if the vision will change, it’s going to stay very much the same. Our goal is to empower small to medium hospitality businesses in the Americas by providing them with the innovative solutions they need to succeed. By bringing our capabilities together, we can help these businesses overcome their challenges and continue to achieve sustainable growth.
Jeff:
Jonah, the number of providers in the guest engagement space is growing, and there are multiple brands that are making a name for themselves in the industry. Why did you choose Paytronix?
Jonah:
As I noted before, our goal with this expansion was to find a compatible partner in the United States. We conducted an audit of the industry – including analysis of product lines, culture, industry reputation, history and more. We have acquired a few companies here before, and the ones that stand out are those where it’s a real fit strategically and culturally. Yes, Paytronix was in the United States, which checked one box for us, but it doesn’t mean anything if the remaining requirements aren’t met.
Like Access, Paytronix has been around for over two decades. You’ve seen steady growth throughout two economic crises and massive changes in guest expectations around technology. You’re one of the industry leaders, and your data and insights are referred to often, showing us that you have a positive reputation and are well regarded.
I mentioned it before, but our products address similar problems with differing methods, meaning that there won’t be too much of an overlap in our services. And lastly, you have good people. Paytronix is known for great staff who are even better people. I think through our discussions, Jeff, and with other members of the executive team I can see why they say that.
Access has many of the same positives, our people and their passion is central to the Access culture, and it was hard to ignore this alignment when choosing a brand we wanted to go with.
Jeff:
Is there anything that you would say to our employees?
Jonah:
I completely understand that this might be tough to wrap your mind around, and you’re wondering what this means.
On a day-to-day basis, not much is going to change for you! Naturally, there will be some changes but we’re really looking to foster a collaborative culture that prioritizes innovation and teamwork, as well as a place where you feel like you can grow as a professional. I’m happy to say that there are going to be some great changes to your retirement benefits and PTO, starting in Q1 of next year. And there are great opportunities that come with being part of a much larger employee community.
As Paytronix will make up most Access staff here in the US, it is a major priority for us to get you acclimated to our workplace culture.
Jeff:
Although they will be notified, I think it’s fitting to close with a message to our customers. Anything you want to tell them?
Jonah:
Solving challenging customers problems through technology is a key part of the Access mission: By leveraging our expertise, we aim to provide comprehensive solutions that help solve the key problems that exist for restaurants and the wider hospitality businesses. This means streamlining their operations, improving customer retention, and driving growth.
Our customers will continue to enjoy the same high-quality services and features that they have come to expect from us. And, they will soon have access to a wider range of products and services, along with a network of partners and experts. We plan to add Guest Wi-Fi, digital ordering systems, and reservations booking software to our combined platform.
Likewise, our technology partnerships will remain the same, and we’ll continue to invest in world-class partnerships to support customers and the industry. At the same time, our customers will be part of a larger community of customers with opportunities to learn, collaborate and grow.
The hospitality sector’s reliance on personalized service and customer satisfaction aligns perfectly with our strengths. We can offer the right tools and support to help these businesses thrive in a competitive market.
Jeff:
Wonderful. Thanks, Jonah.
Jonah:
Thank you, Jeff! I'm excited to be working with you and the team!
