* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, October 15, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Arts/Entertainment: ‘Wait Until Dark’ brings spooky season center stage – Times Herald Online

    Wait Until Dark’ Delivers Chilling Thrills Perfect for the Spooky Season

    Bluesman James Montgomery Will Perform In Falmouth – CapeNews.net

    Blues Legend James Montgomery Ready to Ignite the Stage in Falmouth

    Mexican singer Pedro Fernández to make Ave Fénix tour stop in Stockton. Tickets, schedule – Yahoo

    Mexican Singer Pedro Fernández Brings the Ave Fénix Tour to Stockton – Don’t Miss It!

    Flutter Entertainment’s SWOT Analysis: Uncovering the Growth Potential Amid Challenges

    Dylan Efron Shares Sweet ‘DWTS’ Rehearsal Photos Featuring His Little Sister Olivia – yahoo.com

    Dylan Efron’s Heartwarming ‘DWTS’ Rehearsal Moments with Little Sister Olivia

    Diane Keaton, Oscar-Winning Star of ‘Annie Hall’ and ‘The Godfather,’ Dies at 79 – Yahoo

    Diane Keaton, Oscar-Winning Star of ‘Annie Hall’ and ‘The Godfather,’ Dies at 79 – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Day 5 of Gains Streak for Solidion Technology Stock with 475% Return (vs. -20% YTD) [10/14/2025] – Trefis

    Solidion Technology Stock Rockets for 5th Consecutive Day, Soaring an Astonishing 475% Year-to-Date

    Tracking DNA and RNA Together To Unlock Disease Insights – Technology Networks

    Unlocking Disease Insights by Tracking DNA and RNA Together

    The future of battery technology – Engineer Live

    Revolutionizing Energy: Exploring the Future of Battery Technology

    How Can Boosting Your Travel Experience with Less Technology Lead to a More Relaxing Vacation? All You Need to Know About This Latest Trend – Travel And Tour World

    How Can Boosting Your Travel Experience with Less Technology Lead to a More Relaxing Vacation? All You Need to Know About This Latest Trend – Travel And Tour World

    Davenport CornCon Cybersecurity Conference helps students explore technology, AI use – KWQC

    Davenport CornCon Cybersecurity Conference Ignites Student Passion for Technology and AI Innovations

    Inside Europe’s military technology resurgence – NBC News

    Europe’s Bold Comeback: Unveiling the Rise of Cutting-Edge Military Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Arts/Entertainment: ‘Wait Until Dark’ brings spooky season center stage – Times Herald Online

    Wait Until Dark’ Delivers Chilling Thrills Perfect for the Spooky Season

    Bluesman James Montgomery Will Perform In Falmouth – CapeNews.net

    Blues Legend James Montgomery Ready to Ignite the Stage in Falmouth

    Mexican singer Pedro Fernández to make Ave Fénix tour stop in Stockton. Tickets, schedule – Yahoo

    Mexican Singer Pedro Fernández Brings the Ave Fénix Tour to Stockton – Don’t Miss It!

    Flutter Entertainment’s SWOT Analysis: Uncovering the Growth Potential Amid Challenges

    Dylan Efron Shares Sweet ‘DWTS’ Rehearsal Photos Featuring His Little Sister Olivia – yahoo.com

    Dylan Efron’s Heartwarming ‘DWTS’ Rehearsal Moments with Little Sister Olivia

    Diane Keaton, Oscar-Winning Star of ‘Annie Hall’ and ‘The Godfather,’ Dies at 79 – Yahoo

    Diane Keaton, Oscar-Winning Star of ‘Annie Hall’ and ‘The Godfather,’ Dies at 79 – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Day 5 of Gains Streak for Solidion Technology Stock with 475% Return (vs. -20% YTD) [10/14/2025] – Trefis

    Solidion Technology Stock Rockets for 5th Consecutive Day, Soaring an Astonishing 475% Year-to-Date

    Tracking DNA and RNA Together To Unlock Disease Insights – Technology Networks

    Unlocking Disease Insights by Tracking DNA and RNA Together

    The future of battery technology – Engineer Live

    Revolutionizing Energy: Exploring the Future of Battery Technology

    How Can Boosting Your Travel Experience with Less Technology Lead to a More Relaxing Vacation? All You Need to Know About This Latest Trend – Travel And Tour World

    How Can Boosting Your Travel Experience with Less Technology Lead to a More Relaxing Vacation? All You Need to Know About This Latest Trend – Travel And Tour World

    Davenport CornCon Cybersecurity Conference helps students explore technology, AI use – KWQC

    Davenport CornCon Cybersecurity Conference Ignites Student Passion for Technology and AI Innovations

    Inside Europe’s military technology resurgence – NBC News

    Europe’s Bold Comeback: Unveiling the Rise of Cutting-Edge Military Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

From Chaos to Control: Why P2P Software Is a Must for Efficient Hospitality Contract Management

July 4, 2024
in News
From Chaos to Control: Why P2P Software Is a Must for Efficient Hospitality Contract Management
Share on FacebookShare on Twitter

Maintaining strong, equitable vendor relationships is key to any successful hotel enterprise, especially during periods of economic uncertainty. When done effectively, these partnerships ensure that hotels can navigate supply disruptions, provide consistent, high-quality amenities, develop unique and competitive offerings for guests, and meet industry standards and regulations. For many hotels, cooperation with suppliers was essential for surviving the pandemic and continues to help set them apart from competitors.

Like with any relationship, long-term supplier partnerships that generate lasting value are built on trust, communication, and mutual understanding. This starts with the supplier contract, which must be managed effectively to ensure compliance—a responsibility usually handled by procurement.

Inefficiencies and oversight in contract management can have a significant impact on hotel performance. At best, errors, delays, and miscommunication create higher operating costs. At worst, these practices can damage vendor relationships, compromise guest satisfaction through service disruptions, and even lead to costly compliance violations.

In fact, risk management and compliance are some of the main drivers behind digital transformation among procurement professionals, prompting the adoption of solutions like e-procurement software. Why has contract management never been so important for hoteliers to get right, and how can e-procurement help?

Contract management is becoming more complex

Hotel procurement looks a lot different now than it did a few years ago. External spend has always contributed to a variety of performance measures, from financial success to guest satisfaction. However, procurement’s role in business strategy has intensified since 2020.

This isn’t just because inflation has put added pressure on procurement to spend strategically. It’s also because investors, consumers, and regulating bodies are placing greater scrutiny on areas like sustainability, social responsibility, and data privacy, influencing how and where hotels acquire goods and services. More than ever, Chief Procurement Officers (CPOs) have a seat at the executive table, where decisions surrounding these priorities are made.

In this environment, the vendor contract is king. By negotiating the appropriate terms and enforcing compliance, procurement teams can ensure that hotels keep industry standards, certifications, and licences in good standing in areas like health and safety, data security, and environmental, social, and governance (ESG). As laws and regulations change regionally, effective contract management enables hotels to keep their supply chains and operations in check.

But this is much easier said than done when relying on outdated infrastructure—such as on-premise servers, siloed procurement tools, and manual workflows. This approach makes ensuring contract compliance complex, time-consuming, and error-prone. Yet, many hotels continue to operate this way, often due to a lack of buy-in for new solutions or attachment to legacy systems. Failure to comply with contract terms, such as expired licenses and certifications, can incur significant costs for a hotel, impacting both its reputation and financial performance. For example, non-compliant IT vendors could jeopardise a hotel’s data security, costing millions in remediation and customer backlash in the event of a breach.

As demands on procurement and contract management evolve, leading hoteliers are realising the importance of more efficient and thorough contract management software. According to research by PwC, 86% of procurement departments globally are now equipped with a digital procure-to-pay (P2P) solution.

Automations improve due diligence and expedite workflows

Such procure-to-pay tools are key to streamlining contract management, helping prevent outdated supplier certifications or licences from slipping through the cracks. To start, cloud-based procure-to-pay software houses the entire process in one place, making contract documents and communications consistent, safe, and easy for stakeholders to access.

Modern procure-to-pay tools can also offer advanced features like automation and data analysis powered by artificial intelligence (AI). This supports contract maintenance and allows procurement to work more efficiently. For instance, e-procurement can build contracts with pre-set templates and clauses. By analysing market trends, past supplier behaviours, and financial forecasts, the software may suggest vendors or contract terms that will drive greater value for the organisation. Contract managers can also track and make changes digitally, simplifying the process. Once a contract is approved, the software then monitors its performance and triggers alerts when deliverables are required or contract and licensing deadlines are approaching.

Procurement teams can enjoy agile workflows and have time to focus on more involved tasks, such as establishing stronger relationships with critical suppliers. Hoteliers can also avoid expensive compliance, licence, and certification violations. This not only ensures service continuity and improves the hotel’s bottom line, but builds a trustworthy and reliable supplier network.

Refine your contract management strategy with FutureLog

Contract management is an important part of procurement in hospitality, shaping everything from guest satisfaction to legal compliance and supply chain resilience. Using manual processes and outdated software is a risky approach to this function, making hotels more vulnerable to compliance violations—not to mention taking significantly more time and resources to complete. This is why a cloud-based P2P solution like FutureLog is a smart choice, generating a significant return on investment when it comes to your supplier relationships, customer loyalty, and industry reputation.

Discover how FutureLog can give you more control and peace of mind when it comes to your hotel’s contract management strategy.

About FutureLog

FutureLog provides a fully integrated, cloud-based procure-to-pay platform for the hospitality industry. We facilitate an end-to-end procurement process from purchasing, through inventory management and up to invoice processing; all available in one platform to save you time and money. The FutureLog procure-to-pay platform is the foundation for seamless connectivity between Hotel Operations, Corporate Centres and Suppliers.

Suzanne Ward
Vice President Digital Marketing and Communication
+41 41 759 1861
FutureLog AG

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Hospitalitynet – https://www.hospitalitynet.org/opinion/4122743.html

Tags: chaoscontrolnews
Previous Post

ONYX Hospitality Group Opens First Shama Branded Property in Malaysia

Next Post

Training Customers to Do It Themselves

Madagascar: Gen Z protesters united by an anime pirate flag are challenging governments around the world – NBC News

Madagascar: Gen Z protesters united by an anime pirate flag are challenging governments around the world – NBC News

October 15, 2025
New report reveals concerning blind spot posing risk to global economy: ‘Not a distant threat’ – Yahoo Finance

New report reveals concerning blind spot posing risk to global economy: ‘Not a distant threat’ – Yahoo Finance

October 15, 2025
Arts/Entertainment: ‘Wait Until Dark’ brings spooky season center stage – Times Herald Online

Wait Until Dark’ Delivers Chilling Thrills Perfect for the Spooky Season

October 15, 2025
Potential crisis looms with loss of environmental health research – Johns Hopkins University

Urgent Alert: Environmental Health Research at a Crossroads

October 15, 2025
Japan’s Tamaki Sees Dramatic Turnaround in Political Fortune – Bloomberg.com

Japan’s Tamaki Sees Dramatic Turnaround in Political Fortune – Bloomberg.com

October 15, 2025
Back to school shopping? – Washington State Department of Ecology (.gov)

Back to school shopping? – Washington State Department of Ecology (.gov)

October 15, 2025
Alltech breaks ground on new crop science facility in Nicholasville – LEX18

Alltech Unveils Cutting-Edge Crop Science Facility in Nicholasville

October 15, 2025
SVC obtains $150,000 National Science Foundation grant – Saint Vincent College

SVC Lands $150,000 Grant to Fuel Innovative Research

October 15, 2025
Zhaobangji Lifestyle Holdings Approves Name Change at EGM – TipRanks

Zhaobangji Lifestyle Holdings Reveals Exciting New Name After EGM Approval

October 15, 2025
Day 5 of Gains Streak for Solidion Technology Stock with 475% Return (vs. -20% YTD) [10/14/2025] – Trefis

Solidion Technology Stock Rockets for 5th Consecutive Day, Soaring an Astonishing 475% Year-to-Date

October 15, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (868)
  • Economy (890)
  • Entertainment (21,762)
  • General (17,609)
  • Health (9,932)
  • Lifestyle (902)
  • News (22,149)
  • People (890)
  • Politics (900)
  • Science (16,100)
  • Sports (21,389)
  • Technology (15,869)
  • World (873)

Recent News

Madagascar: Gen Z protesters united by an anime pirate flag are challenging governments around the world – NBC News

Madagascar: Gen Z protesters united by an anime pirate flag are challenging governments around the world – NBC News

October 15, 2025
New report reveals concerning blind spot posing risk to global economy: ‘Not a distant threat’ – Yahoo Finance

New report reveals concerning blind spot posing risk to global economy: ‘Not a distant threat’ – Yahoo Finance

October 15, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version