As the health crisis has demonstrated in recent years, hotels and restaurants belong to a particularly sensitive sector. Often on the front line during crises, they redouble their efforts and ingenuity to keep their operations afloat, while avoiding pitfalls as much as possible.
Business Continuity: A Plan for All Circumstances
During a major crisis, to support their operations, organizations implement a business continuity management system. The Business Continuity Plan (BCP) is the set of measures that allow a company, in the event of a major incident, to:
- Organize the continuation of its operational tasks
- Ensure the maintenance and continuity of its essential activities
- Prepare for crisis exit and planned resumption of operations
When a company fails to pay its invoices on time, it is more often due to a lack of organization than unwillingness. This is especially true in the hospitality and restaurant industry, where businesses sometimes have more than a dozen commercial service providers. If managing supplier payments is tedious and time-consuming under normal circumstances, it becomes an Olympic discipline during a crisis:
- Ensuring timely payments without destabilizing cash flow
- Maintaining stable working capital requirements
- Avoiding cash shortages and surpluses
- Responding to supplier requests
- Preparing for crisis exit
Business Continuity Plan: What Libeo Brings to the Payments Table
In times of crisis, it is often cash flow that takes the first hit. Payments are part of the commercial fabric that the hospitality sector has had to master for years.
Various business continuity approaches emphasize the need to evaluate processes and minimize any operation that is not fundamentally essential to the company’s functioning. This is where payment and collection automation solutions like Libeo come into their own.
A genuine alternative to traditional payment methods, Libeo was specifically designed for businesses operating in the hospitality sector (hotels, guesthouses, bed and breakfasts, campgrounds, etc.). Close to the restaurant industry, Libeo’s founders know how loaded and multidisciplinary a restaurant manager’s daily life is: manager, salesperson, supervisor, HR director, server, accountant, etc.
While it can’t do the service on their behalf, Libeo handles the invoices:
- Automated invoice import and processing
- Simple and secure payments
- Real-time financial monitoring
- Collaborative financial management
- Technical and accounting integrations
- Automated payment reminders
Libeo uses automatic character recognition and automatic data entry for optimal security in invoice processing and payment. In a simple and immediate way, the solution helps hoteliers be more resilient, closer to their finances and their suppliers.
Utelys and Libeo: Catalysts of Transformation for Hoteliers
The life of a hotelier is exciting, but it can also be stressful: there is a lot of work to do, you don’t always have time to accomplish everything, and your days are often packed. Libeo and Utelys are two systems that share a mission: helping hoteliers save time, acting on two fronts:
- Invoice management and payment with Libeo. Invoices collected and processed without errors or omissions, payments on time, a centralized view of finances, and accounting exports obtained in just a few clicks.
- Guest reception and management with Utelys. With its digital room directory, Utelys frees up staff time so they can focus on their most important work: being hoteliers.
Hospitality industry players have everything to gain by combining digital solutions like Libeo and Utelys in their management. These technologies will open a new chapter for the growth of hotel operations.
