Budgets are tight heading into 2022 as many businesses still have to fully makeup from the dismal year that shall not be named. Compounding this for the hotel industry, the corporate and group segments have yet to properly return, although there are many strong indicators that it’s coming.
Where technology has come to the rescue is in helping automate and digitalize processes to make businesses run more efficiently and make teams more productive. This is especially important for foodservice and hospitality, both of which are facing an ongoing labor shortage.
To this end, our signature product, TransForm, saves businesses time. Yes, it’s easy to use, can integrate with a variety of payment gateways or property management systems and will help minimize losses from chargeback disputes, but the labor savings are what’s an essential part of the tech stack going forward.
Some of these time savings aren’t immediately apparent by looking at an income statement. Instead, they are often hidden but accumulate in multiple ways for an organization.
Here is a list of how TransForm can help as it relates to labor:
- Guests pay online at their own convenience which removes the disruptive, time-consuming process of coordinating credit card payment details via email or phone
- Flexible platform that employees can utilize in a remote work setup, thereby aiding in employee retention because it enables them to work from home
- Eliminates the need for a paper authorization form to save time for accounting
- Automated payment reminders to the customer when bills are past due
- Instalment invoices can also be automated
- Notifications to team members can be set up so that they don’t have to manually check system as to when to follow up for accounts receivable
- Integrations minimize time spent on manually inputting transactions across systems
- Creates stronger digital trail for accounting to utilize in any representment preparations
On a one-off basis, these savings may seem small. But in a ‘death by a thousand cuts’ manner, over an annual basis they will eat away at your labor-deprived team’s time, so much so that they won’t have the bandwidth to focus on more complex tasks or to focus on those innovative projects that will actually drive the company ahead.
Given all these above points, TransForm is a timesaver well worth considering as an addition to your tech stack, so book a demo and see for yourself how it works.