NEWPORT BEACH, California – BirchStreet Systems, the market leader in procure-to-pay software for the hospitality industry, announces today that Northwood Hospitality has implemented BirchStreet’s full suite of modules, including new BirchStreet Pay.
Northwood Hospitality already leveraged BirchStreet’s eProcurement and AP Automation modules. By adding Invoice Management, Capital Projects Management, Labor Management, and Recipe & Menu Management, Northwood Hospitality will have an end-to-end solution that improves spend compliance, drives back office efficiencies, expands food and beverage margins, and more. The company anticipates a seven-figure bottom line impact.
Further, Northwood Hospitality implemented BirchStreet Pay, BirchStreet’s new module that already automates 100% of Northwood Hospitality’s payments, and even provides them with cash back.
BirchStreet Pay eliminates the hassle of manually paying bills, allowing operators and finance teams to pay by check, automated clearing house, or even virtual card at the press of a button. Further, the dedicated supplier onboarding team helps shift payments from check to virtual card, reducing costs and even earning cash back for customers.
“BirchStreet Pay, powered by Finexio, is a must-have add-on for our customers,” says Steve Markle, CEO of BirchStreet Systems. “First, it reduces all the time and expense associated with stuffing and sending checks while reducing the risk of fraud. Second, for a typical full-service hotel, we can provide thousands of dollars per year in virtual card rebates. Customers like Northwood Hospitality, can use BirchStreet Pay to pay for more BirchStreet modules.”
The implementation process is quick and efficient. According to Brent Reid, EVP Finance at Northwood Hospitality, “The BirchStreet Pay set-up was simple for us. BirchStreet’s customer success team managed the whole process and consulted with us when necessary, but the amount of time on our end wasn’t high at all.”
Continued Brent, “It has been less than five months since we signed the contract, and we have over $20 million in spend already shifted from paper check to virtual card. The annual rebates will cover a meaningful portion of our costs for the rest of the BirchStreet solution.”
“My team is also thrilled to no longer be printing thousands of checks and stuffing them into envelopes,” he added.
BirchStreet Pay services include the following:
- Checks: BirchStreet prints and mails all checks on behalf of customers from a secure check-printing facility. Information on the checks is kept consistent so existing processes and bank reconciliations remain unchanged
- ACH: BirchStreet automates the creation and delivery of ACH files so existing processes and bank reconciliations remain unchanged
Virtual Card: BirchStreet issues pre-approved, one-time use virtual cards that provide more security than a traditional credit card. Further, a supplier onboarding team works with suppliers to accept virtual card, allowing BirchStreet Pay customers to earn meaningful rebates
Per Steve Markle, “We wanted to provide customers a solution that could address their payment issues without forcing them to rewire the back-office processes they wanted to maintain. We’re thrilled we could do that while providing them cash back at the same time. The response from our customers has been amazing!”
For more information on BirchStreet Pay, go to https://www.birchstreetsystems.com/products/birchstreet-pay/