How a Hospitality Procurement Platform Helps Correct Decision Making

The catering and hospitality business is ferociously competitive, where small margins can make all the difference to get the edge over competitors. With so many options available, it is critical to have a proper strategy and ensure that finances are tightly controlled while offering the highest quality customer service.

A drop in quality can also lead to losing important clients, so getting the balance right is imperative for success and being able to turn over a profit. This is where FutureLog, the only procurement platform designed for the hospitality industry is invaluable.

  • FutureLog is an online tool that allows every important essential of a hospitality business to be controlled easily and quickly, to save immeasurable time, money, and stress. It brings together many stakeholders under one umbrella and allows them to connect so that the best performance and value for money can be sourced from various departments relating to the industry.
  • Whenever stock needs replenishing it can take up time to scour information and the net. The tool which is available online and via an app on a smartphone or tablet allows an instant look at what is available and at the right price through a catalog system. It is constantly updated and can be added to by the user when new items are discovered. Some media tips may also help a business when elevating a marketing strategy.
  • As the prices are up to date, informed decisions can be made, which may allow a menu to be changed to offer specials and increase profits. It allows for recipes to be created and shared with others from the provided data. It can be filtered so that only those items that fit the budget and requirements are approved.
  • Capital expenditure, or CAPEX, can be controlled properly so that the right equipment is ordered at the right time so that upgrades and replacements for physical assets fit into the long-term business strategy. Invoicing is also properly overseen transparently with no need for paper to be kept. A secure and effective system saves money lost through correct management.
  • The ease of use means that there is no need for complicated installations before starting to use the platform. A simple interface between any accounting tools means all the necessary data can be sourced quickly in one place. Existing financial systems can be integrated so that all the data required is imparted to reduce the risks of going over budget. It may even allow for some quality time for team bonding at a museum.
  • For those who use contractors, the platform is especially useful, as it allows for all contracts and management to be accessed in one place, ideal when in an outside location when confidentiality is required. Data analysis on a simple-to-follow dashboard highlights performance and areas that are good and those that require attention.

The streamlined procurement tool for the hospitality industry makes decision-making easy, offering all the required data that is needed when making the right calls, in a safe and secure environment.

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