procure-to-pay
BirchStreet Extends Partnership With Sodexo North America as Preferred Procure-to-Pay Technology Partner
BirchStreet Systems | October 29, 2024
Renewed strategic partnership agreement highlights continued trust and innovation LAS VEGAS – October 29th, 2024 - BirchStreet Systems, a leading provider of cloud-based procure-to-pay solutions for the hospitality industry, announces the extension of a partnership agreement with Sodexo North America, a leading provider of sustainable food and integrated facilities management. The renewed multi-year agreement highlights the ongoing relationship between two companies, reinforcing the trust and collaboration built over the years. BirchStreet Systems has been one of Sodexo North America’s partners of choice for many years, currently servic...
BirchStreet Appoints Phil Beck as GM, BirchStreet Pay
BirchStreet | October 22, 2024
LAS VEGAS – October 22, 2024 – BirchStreet Systems, a leading global SaaS provider and network for Hospitality procure-to-pay (P2P) and F&B services, today announced the appointment of Phil Beck as EVP & General Manager of its BirchStreet Pay business. Designed for the unique needs of the hospitality industry, the BirchStreet Pay solution helps customers streamline payment processes with increased visibility and enhanced spend control. As the latest addition to its executive leadership team, the appointment of Beck to drive the overall vision and strategy and enhance Pay product and technology is intended to further position Bir...
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...
What Hotel Procurement Leaders Can Learn From the Paris 2024 Olympics
Johannes Vocke | August 14, 2024
By Johannes Vocke, FutureLog Chief Financial Officer This summer, as we witnessed the world's top athletes compete in the 2024 Olympics in Paris, there were some profound parallels between pursuing excellence in sports and leading procurement in hospitality. Both domains demand precision, innovation, and a deep commitment to collaboration. Transparency In sports, athletes must inherently trust their partners, coaches, and teammates. This mirrors the trust required among team members in high-stakes environments such as hotel procurement. Fostering trust is paramount. Implementing clear communication channels and ensuring every team me...
The Top 7 Pain Points in Hospitality Procurement and How to Overcome Them
Johannes Vocke | July 24, 2024
By Johannes Vocke, FutureLog Chief Financial Officer Siloed and fragmented procurement software often complicates the procure-to-pay process. Outdated solutions are typically expensive, inflexible, and inefficient, yet many organisations persist in using these antiquated systems. This reliance on old-fashioned procurement management systems hinders operational efficiency. A 2023 Procurement Insights report reveals that 80% of organisations still depend on manual or semi-digital tools to manage their P2P cycle. These businesses typically utilise ERP or accounting software—an approach comparable to using a flashlight to crack a nut. W...
Aptech Teams With BirchStreet Systems To Bring Procure-to-Pay Processing to Twenty Four Seven Hotels
Aptech | July 17, 2024
Aptech provides hotels with invoice-level, vendor and general ledger spend while BirchStreet Systems manages the remainder of the P2P workflow process PITTSBURGH, July 17, 2024 — Aptech has teamed with Birchstreet Systems to deliver efficiency and automation where it is most needed – the procure-to-pay (P2P) process. Based on customer demand, this collaboration brings together the best in cloud-based enterprise accounting and P2P software to deliver better control over purchase orders, invoicing, budgeting, order delivery, flexible payment options, invoice imaging, and financial review efficiency with drill down from P&L to invo...
BirchStreet Systems Launches Operational Insights to Help Hospitality Customers Attain Operational Goals
BirchStreet | June 13, 2024
New solution helps companies achieve up to $500,000 in savings per year LAS VEGAS – June 13, 2024 – BirchStreet Systems, a leading global provider of enterprise procure-to-pay -solutions to the hospitality sector, today announced the launch of Operational Insights, an interactive reporting and analytics solution designed to help customers achieve operational goals for Purchasing and Accounts Payable processes and yield substantial cost savings. Operational Insights is the first product in the ongoing ‘Insights’ series targeted specifically to the unique needs of the hospitality industry. The new offering further advances BirchStree...
From Paper to Platform: Future-Proof Your Procurement Team With Digital Transformation
Johannes Vocke | May 21, 2024
By Johannes Vocke, FutureLog Chief Financial Officer In an eye-opening survey by PwC, global procurement professionals have spoken when it comes to their digital transformation initiatives. By 2025, procurement departments have an average target of 72% digitalization, with efficiency, transparency, traceability, and cost savings as some of their main drivers. Procure-to-Pay (P2P) has also benefited the most from the digital transformation of any procurement process, ahead of areas like spend analysis and supplier management. This may be because recent reports cite that digital procurement can reduce processing costs by up to 50% and increa...
