Groupon Inc. Common Stock (NASDAQ:GRPN) has inked a partnership with accesso Technology Group plc with an aim to offer new capabilities to clients. The strategic partnership will give Groupon access to accesso’s Ingresso distribution platform. Accesso has so much power in the leisure, entertainment and hospitality market. This same power will help in connecting Groupon to the big identities in entertainment and leisure.
The agreement outlines that the current accesso clients can avail their tickets to a much more expanded audience. A big part of the audience is likely to be Groupon’s 49.5 million global active customers. The significant milestone is in direct response of a growing demand from consumers who want to buy their tickets from one central point.
Solutions to help clients streamline their operations
Streamlined operations have positive results, which range from increased revenues to satisfied customers. Accesso is currently serving over 1,000 clients in 30 countries globally. The company’s core business is in helping its clients increase their revenue base.
Applauding Groupon’s move to work with accesso, Groupon’s VP and General Manager stated, “This partnership will enable us to bring even more choices to the tens of millions of Groupon customers looking for fun things to do near them or where they travel.”
Groupon has undergone major restructuring in recent years
The e-commerce firm deals in discounts and money off coupons. In recent years, the company has been steering its efforts in improving profits. Failure by the company to record any profit in the years after its IPO provoked the need for the new measure.
Among the many restructuring activities is the company’s exit from many markets in recent years. In 2015, the company reduced its operations from almost 50 countries to the current 15. This has made it possible to manage the remaining markets with a steady increase in its expenditures on them.
Nonetheless, there was a major setback in the company’s exit from various markets. Records have it that there was a significant drop in active customers within the international segment. The drop was from 22 million in 2016 to 16.6 million in 2017. However, Groupon is expectant of having a gradual increase of the average active customers.