Technology change is a constant challenge for hospitality businesses as much as any: just consider the need to respond to the arrival of TripAdvisor in recent years! And one of H&C News’ tasks is to try to keep our many and diverse readers informed about the innovations and resulting services that are heading their way – and the business opportunities they bring.
Which is why H&C News was very pleased recently to meet William Gorol, MD of Procure Wizard, the e-procurement ‘platform’ designed for the hospitality sector.
Since launch 18 months ago, Procure Wizard has secured 18 clients operating some 220 units, with many more in the ‘pipeline’. Clients range from Q Hotels, Puma Hotels and Patisserie Valerie, to Crieff Hydro.
Clearly, Procure Wizard is presenting a convincing business case, which is assisted by the fact that there is no upfront capital expenditure required, it can be operational in weeks, and it delivers measurable savings that can far outweigh the monthly licence fee.
Not in procurement or finance, so not interested? You’d be wrong!
It’s obvious that the immediate benefits of improved procurement processes are administrative and financial: streamlined processes, less double inputting of data, improved cash flow management, reduced administration…and yes, the Financial Director should be first to see those benefits.
But – think about it – procurement affects almost every person working across hospitality businesses: from housekeepers requiring cleaning materials, to front of house seeking tableware, to chefs ordering a vast range of products and ingredients over the course of the year. What if improved processes can actually help them to be more effective, to focus their efforts on what matters – the quality of the ‘products’ for which they are responsible?
Independent hotel or restaurant, or multi-site group?
You might think that large, often international hotel and restaurant groups have all the necessary IT and systems in place, and no requirement for new procurement software, however sophisticated and effective (not always the same)?
Not true: the sheer scale of such large operations makes innovation difficult, decision-making slow, and delay frequent. Smaller scale operations can identify benefit, make the decision, and be operational within weeks.
Tough economic times, and even tougher competition, means that every hospitality business needs all the help it can get – and should take a look at how Procure Wizard can help.
Main features
A quick overview:
- Procurement: streamlines price negotiations with suppliers, accepts/rejects proposed price movements, controls product visibility
- Accounting: automates the purchase to pay process, implements your procurement strategy and nominal coding policy
- Purchasing: provides quick and easy ordering platform for your users to order from approved suppliers. Quick order templates can be created; delivered quantities can be confirmed.
- Food & Beverage: tailor made for the hospitality sector, streamlining the process of menu and stock management
- Quality Control: enhances communication and monitors suppliers’ performance and quality
- Supplier Portal: improves all aspects of the trading relationship. Suppliers can maintain their own catalogue, prices and stock availability; Purchase Users can be confident of the availability of products and accuracy of prices.
Benefits include…
Benefits vary depending on job function, but just consider a few:
- Price comparison at point of order: identifies best price available from nominated suppliers
- Highlights special deals, multiples or brands offering savings
- Reported savings of up to 8% on purchasing costs
- Up to 50% reduction in administration time
- Comprehensive, automated reporting functionality: operational margins, spend versus budget, purchase and invoice reconciliation
- Integrated cellar management system
- Food stock and recipe costing for margin control by chefs
- Fully operational in weeks
- No upfront capital expenditure
- Measurable savings can pay the monthly licence fee, whilst management reports help to drive revenues
UK’s most advanced system
Procure Wizard claims to be the UK’s most advanced online purchase management system, and H&C News and an increasing number and variety of clients have been impressed by what they have seen – and operated.
Whatever the size or scale of your hospitality business, and whatever your specific job function, it’s worth taking a closer look at the functionality that Procure Wizard offers, and the business benefits that it would bring.
For more information Visit The Procure Wizard Website