• Positive Outlook for 2015

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    Just in case you haven’t read both mainstream and industry publications, 2015 is predicted to be a strong growth year for the hospitality industry. Travel, especially with millennials, is on the rise. Many of the large hotel brands are expanding, developing new hotels, buying other hotels and adding more to their portfolio. The CFOs are […]

  • Giving the Gift of OCR to your Accounts Payable Team

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    Is your AP department still filing and scanning the thousands of invoices that move through your hotel management company or hotels? This holiday season, you may want to consider budgeting for an eInvoice system that uses Optical Character Recognition (OCR) to alleviate unnecessary manual labor as well as to save money and time. Trends show […]

  • Software Automation Helps Sustainability Programs in Hospitality

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    One of the benefits of cloud based Procure-to-Pay technology is that automation transforms a paper trail to a paperless audit trail or eTrail. There is no longer a need to print out purchase orders (POs), drop it off at the approver’s desk, have them photocopy it, file it, then make copies of the invoice along […]

  • Reducing Operational Expenses Through Technology

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    Trends by PKF Hospitality Research released their report on last year’s hospitality numbers. The results are promising with revenue increases in most sectors from the previous three years. For 2013, PKF analyzed many aspects, but below shows the industry’s costs and expenses broken down by category. Image Courtesy of PKF Operating expenses and COGS account […]

  • The Montage Hotels & Resorts Case Study with BancTec and BirchStreet

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    As mentioned in a recent blog and press release, BirchStreet and BancTec formalized a partnership to offer customers a complete automated AP solution. Montage Hotels & Resorts benefited from using both BirchStreet’s procure-to-pay (P2P) solution and BancTec’s eInvoicing and data capture or OCR (optical character recognition) technology. The goal was to centralize their accounts payable […]

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