As my last weblog put up on cost and workforce options, I’d wish to share insights gained from priceless vendor conferences on the HITEC 2025 present flooring. These conversations supplied sensible views on methods to assess and plan for most of these purposes. Beneath are some useful hints to information your individual analysis course of.
Trendy Fee Programs: What to Ask and What to Know
The main objective of a contemporary cost system is easy: cut back the time and expense of processing bill funds. Which means slicing again on printing, signing, mailing checks, and managing the reconciliation of excellent funds.
When evaluating options, preserve these key questions in thoughts:
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Do particular person vendor funds seem as separate entries on the checking account, or is there a lump debit for the total batch?
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Does the answer automate bill posting via e-mail or scanned photos, together with GL account project?
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How is the seller compensated? Is there a rebate program tied to ghost card quantity, or does the seller retain all rewards and provide the service for gratis?
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Can the seller deal with worldwide funds, or are there regional restrictions on account of banking legal guidelines?
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Is their system absolutely built-in along with your buying, AP, and GL software program to assist correct reporting and reconciliation?
The place Vendor Options Come From
Options to automate accounts payable usually come from three sources:
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ERP Distributors – Your present ERP might have a most well-liked funds companion with built-in options.
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Procure-to-Pay Distributors (P2P) – Buying distributors might bundle funds performance with stock options.
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Third-party Fee Distributors – These can usually work along with your current programs however might lack full integration factors.
Workforce Options: Matching Instruments to Organizational Wants
In a earlier put up, I lined six classes of workforce and expertise purposes. Whereas some distributors provide a mix of those instruments, it’s uncommon to search out one which does all of it. It’s greatest to start out by focusing in your most crucial wants.
Key Useful Areas to Discover
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Recruiting and Onboarding – Digital hiring instruments eradicate paperwork and should cross information to payroll, however integration is commonly restricted.
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Time and Attendance – Most embody scheduling, cellular apps, and self-service options. Some even provide dynamic scheduling tied to enterprise forecasts.
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Payroll Processing – Usually outsourced, fashionable payroll platforms embody options you’d anticipate from full HRIS/HCM programs, like advantages administration.
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Hospitality-specific Distributors – Given the complexity of our trade, distributors with hospitality expertise are strongly advisable.
Tailoring Options by Property Sort
The dimension and construction of your group will form your tech wants.
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Smaller, limited-service properties might not require scheduling or time clocks.
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Bigger, full-service inns and resorts ought to prioritize instruments like dynamic scheduling and labor forecasting.
A Advisable Beginning Level
Begin along with your payroll software—it’s the muse of workforce administration. A stable payroll system with GL integration is crucial. As soon as that’s in place, your supplier can usually advocate trusted integration companions to spherical out your HR tech stack.
In case you’re planning to discover workforce or cost options, use these questions and issues as a roadmap. The fitting instruments can ship main beneficial properties in effectivity, accuracy, and worker satisfaction.
Ron Strecker
Ron Strecker, CHAE+, CHTP+, is an impartial marketing consultant, creator, and speaker. He presently serves as chair of the HFTP CHAE Advisory Council, member of the HFTP Academy Advisory Council, and an advisor within the HFTP Certification Advisory Program (CAP). All through his profession, Strecker has utilized his finance and expertise expertise to enhance the group’s monetary and administration reporting. His consulting work aids purchasers in enhancing their back-office practices and expertise. Along with consulting, Strecker has authored quite a few articles associated to hospitality finance and expertise and spoken at varied conferences together with HITEC, HFTP Annual Conference, and the FEI Management Summit.
This text initially appeared on HFTP.