BirchStreet Systems Launches Capital Budget Management Module
Newport Beach, CA – June 24, 2014 – BirchStreet Systems, Inc., the leading cloud platform for eProcurement and Procure-to-Pay in the hospitality industry, announced the launch of its new Capital Budget Management module. It allows hotels to build capital projects and budgets with approval workflows and then to purchase against those projects through its eProcurement system.
“Continuing BirchStreet’s core growth strategy of innovation by collaboration, we designed and developed extensive improvements to our former Capital Projects module. Our new CBM system is far superior in functionality and will help operators gain greater visibility to project planning, budgeting and purchasing,” stated Sushil Garg, BirchStreet’s CEO.
This new module allows for a multi-year capital expenditures plan in which a property can enter future projects into BirchStreet on an on-going basis. CBM provides the immeasurable benefit of simultaneous integration with eProcurement, AP Automation and Inventory Control applications. Thus, this module streamlines project implementation and facilitates the procure-to-pay process associated with a project.
The CBM system also allows for projection of multiple monthly and yearly budgets. Using the new system, the user can allocate a project budget to a specific year, month or across a specified period of time. BirchStreet has also introduced a highly advantageous rolling budgets functionality, so that any remaining unused amounts will roll forward to the subsequent month automatically until the project is closed.
Properties will also have the ability to define property areas and sub-areas. Information can be logged against these such as when an area was last renovated, recommended number of years between renovations, as well as measurements. Projects will be tracked against these property areas, giving tremendously beneficial insight into the capital expenditure requirements and costs associated with them. Finally, the module also provides the ability to maintain theoretical bank balances to monitor cash flow when authorizing a project.
For more information or to see a demo, please contact sales@birchstreet.net or call 949-567-7000.
About BirchStreet Systems, Inc.
BirchStreet Systems, Inc. provides global enterprises with SaaS based operating and reporting tools to close the gap between the current and the desired compliance to standard operating procedures within the procure-to-pay process. BirchStreet software improves business processes by integrating eProcurement, AP Automation, Inventory Control, Spend Analytics, Recipe Management System and Capital Budget Management modules to support the hospitality and gaming industries. Thousands of businesses in 78 countries currently subscribe to BirchStreet to connect with a network of 200,000 suppliers. Established in 2002, BirchStreet is privately held and is headquartered in Newport Beach, California with offices in China and India. For more information, call 949-567-7000 or visitwww.birchstreet.net.
Media Contact
Leah McEachern, (949) 567-7081; lmceachern@birchstreet.net