Maximize Your Budget: How Hospitality Procurement and P2P Software Drive Financial Efficiency

Johannes Vocke | September 12, 2024

By Johannes Vocke, FutureLog Chief Financial Officer Creating a robust budget is essential for any company's planning and operations. Yet, many hospitality organisations need to leverage all their resources and expertise. Often, they exclude procurement, a crucial player in managing expenditures, from the budgeting process.  It’s hardly surprising to seasoned hospitality executives that setting and adhering to a budget can be challenging due to a lack of visibility, internal misalignment, and fluctuating market prices. When procurement is not involved in budgeting, opportunities for cost savings are missed, leading to budget overruns...