Otelier, the hospitality performance optimization platform that puts data and efficiency at the heart of hotel operations, has officially announced the launch of a new product called Otelier DigiPay, which is designed to automate accounts payable workflows for unlocking efficiency in the case of hotel operators. According to certain reports, the solution in question works by eliminating unnecessary time and money that hotel general managers and finance teams spend processing invoices and cutting and mailing checks to pay suppliers. Instead, leveraging automation, the solution is able to conceive a process where businesses receive and store invoices digitally, route invoices for authorization, verify billing accuracy, and pay suppliers online. Talk about the whole value proposition on a slightly deeper level, we begin from the promise to let users authorize supplier invoices quickly. You see, hoteliers here can easily verify invoice accuracy and streamline workflows to automatically direct invoices to the proper stakeholders. Next up, we must get into the solution’s pledge to help you pay your suppliers using online channels. This translates to how users can automate writing checks for supplier payments, send invoice payments with no fees, and at the same time, track payment statuses through a secure bank connection.
“As labor costs continue to add pressure to the bottom line, finding ways to work more efficiently and effectively has become paramount for hoteliers,” said Vic Chynoweth CEO of Otelier. “Accounts payable is a critical function within hotels and management groups, and reducing the number of hours it takes to manage, approve and pay invoices, while assuring accuracy, can result in significant savings.”
Rounding up highlights would the solution’s potential when it comes to letting you manage supplier profiles and invoice records. This involves delivering a rather seamless mechanism to manage billing and payment histories with detailed invoice records and supplier profiles in indexed cloud storage, thus ensuring that each and every invoice is correct.
Markedly enough, DigiPay can be implemented as a standalone accounts payable automation tool or bundled with Otelier’s other back-office automation and business intelligence solutions for more robust accounting functionality and deeper analytics. Some of these other solutions include DigiAudit, which is a night audit compliance software that allows hoteliers to centralize and store nightly reports, automate signature workflows, and stay in audit compliance, while simultaneously reducing operating expenses. Then, there is TruePlan. TruePlan is basically this budgeting and forecasting software that allows hoteliers to simplify and streamline budgeting processes and forecast with confidence. Moving on to IntelliSight, as a business intelligence solution, IntelliSight is all about empowering hoteliers to aggregate cross-functional data for powerful analysis and insights. Joining the same is an automated financial reconciliation product called Rec, which is well-equipped to automatically detect accounting discrepancies for bank and OTA reconciliations, as well as for income audit journaling.
“With DigiPay, I no longer worry about duplicate invoices, and we were able to implement an auditable approval process. Paying invoices became highly organized and easy from a manager and back-office perspective,” said Prince Singh, Chief Operating Officer at Five Rivers Hospitality, an owner-operator with more than 30 hotels. “We were probably spending 6 to 7 hours per week paying invoices, and now we can do the work in almost half the time.”
