E-procurement has a new ally in AI. Recently introduced generative AI tools, like ChatGPT, have taken the business world by storm. And they have the potential to supercharge e-procurement and potentially even make up for a significant part of the losses that were inevitably incurred by the impact of the last few years.
Key platform advancements included the launch of its Contract Management module, enhanced Recipe Management functionality and a Business Intelligence (BI) reporting suite. Additional developments included a streamlined goods-receiving process, free-text ordering, invoicing customisations, POS integrations, product certification handling and UX design overhauls.
This expansion comes in response to the emerging demand for FutureLog's cutting-edge P2P software in the hospitality and gastronomy market. With over 2000 customers in 50 countries, FutureLog currently has 7 global offices and hosts a network of over 14000 suppliers representing 1.5 million products.
Hoteliers know that guest experiences drive revenue. In recent years, leading hoteliers have responded to the pressure to leverage data to deliver more personalised, streamlined stays for their guests. But while hoteliers have been busy moving towards digital customer-facing solutions, they haven’t put as much energy into back-of-house (BOH) transformation. Accenture reports that 95 percent of travel companies are only focused on digital transformation in some parts of their business, but not all of them.
Gaining more control and visibility impacts cost reduction across several dimensions of the business. Investing in solutions that enable eProcurement and automation across the P2P process increases efficiency and makes transactions and inventory management much more profitable, ensuring that hoteliers can take full advantage of the increase in travel demand.