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An AI-powered procure-to-pay platform designed for the hospitality industrydesigned with help from a former hotelierhas just received funding that it says will help it continue to make the process easier for hoteliers. Over the past year, weve made massive leaps in modernizing purchasing, receiving, inventory audits and accounts payable.
M3 , a provider of accounting and financial solutions for the hospitality industry, has entered into a strategic alliance with Reeco , an AI-driven procure-to-pay platform in the hospitality industry. The companies celebrated the alliance at an event at the Hunter Conference.
NB: This is an article from Craftable Subscribe to our weekly newsletter and stay up to date Optimizing back-of-house processes like procurement and using data to manage current inventory and help predict future trends can help operators control purchase orders, reduce financial risks and anticipate and adjust to future needs based on past trends.
For example, AI can help procurement software compare environmentally friendly and diverse-owned hotel suppliers and monitor outcomes when investing in these businesses. Automation technologies make a difference in hotel operations and efficiency to streamline back-office tasks such as inventory management, accounting, and payroll processing.
This edition of MRM News Bites features a double dose from US Foods, SpotOn Transact, DoorDash Kitchens, Virtual Restaurant Consulting, Tripleseat and Gather, wagamama, Toast, The Gluten Intolerance Group, Instawork and StaffMate Online, Procurant and Yellofin, Sift, 7shifts, ParTech, Revel Systems and Como, Kabbage, Bluecrew and Cuboh.
Aptech has teamed with Birchstreet Systems to deliver efficiency and automation to the procure-to-pay (P2P) process. Integration between Aptech and BirchStreet has been instrumental to our performance,” said Khanh Tran, VP, finance & accounting, Twenty Four Seven.
There’s always sinigang; Leila adapts the classic tamarind-sour soup to its Northwest surroundings with salmon collars procured from neighboring fish vendors. ” Research shows that: • Gen Z will account for 40 percent of global consumers in 2020 (McKinsey & Company).
Understanding and managing prime costs is vital for several reasons: Profitability: Prime costs, comprising both the cost of goods sold (COGS) and labor expenses, typically account for the largest portion of a restaurant’s expenses. Be prepared to adjust your calculations to account for seasonal fluctuations.
Aramark examined front and back of house processes to establish tailored playbooks for all of its businesses and market segments, leveraging innovative solutions, new service methods, and rigorous safety protocols. Production of PPE through Aramark’s uniforms division and procurement of PPE.
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