In the ever-evolving world of hospitality, staying ahead of the curve is essential for success. Hoteliers know that leveraging cutting-edge technology can transform the way hotels do business and set new standards for efficiency and profitability in the industry. Read the full article feature in Hotel Management or check out our key highlights below.
Key Highlights :
- E-procurement technology is essential for streamlining hotel operations, improving productivity, and enhancing the guest experience.
- Not all e-procurement solutions are equal, and it’s crucial to choose one that reduces transaction time and spending without compromising product quality.
- Automation typically results in productivity gains of 10-30% and a purchasing compliance rate exceeding 80%, with a minimum ROI realized in 3-9 months.
- Menu management is often overlooked but is essential for successful e-procurement solutions. It helps hotels purchase the right amount of goods at the best price, reduce food waste, and build stronger supplier relationships.
- Consistent recipe management can lead to annual savings of 8-12%, a 50-70% reduction in cycle time, and a 20% decrease in administrative costs.
- E-inventory management software offers real-time tracking, accurate replenishment, decreased inventory costs, and increased profitability.
- Automation can automate the invoicing process, resulting in 80% or more touchless invoices, a 50% reduction in labor costs, and a 58% average reduction in invoice process costs.
- Electronic payment options and e-invoices also contribute to cost savings and reduced environmental impact.
- E-procurement and inventory management software empower hotels to lower costs, enhance profitability, and improve operations.
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