DocMX teams have collaborated with Amazon AWS experts to put together a comprehensive analysis of the transformations awaiting the Hospitality industry in the medium to long-term.
You can read the full e-book and analysis in the AWS website. Below you will find the highlights from us.
Hospitality Technology Trends in 2021 and beyond
The worldwide pandemic has been a catalyst for change, pushing all industries to transform their ways of working, and to embrace technology for remote working and doing more with fewer resources. In hospitality, it shined a spotlight on certain vulnerabilities and inefficiencies – such as the tendency to stick to traditional operating ways, which have been extremely profitable over many years.
With unpredictable occupancy levels for 2021-22 and beyond, the resilience of hospitality businesses is likely to be tested further. Therefore, now is the time for the hospitality sector to match pace with other more innovative industries and begin reviewing and implementing digital automation technology that is readily available to them.
While cash preservation and liquidity are critical in the short term, investing in smart technology brings concrete medium to long-term savings. We have seen first-hand how digitising and automating processes allows our hospitality customers to do more with less: meet consumer demand with lower resources, preserve margins through time and cost-saving, and future-proof operations.
We believe that in the coming months, many hospitality organizations will invest in new technology for their core operations, change the status quo, and reinvent themselves for the future.
Our Hotel Operations Automation Solutions
Hospitality businesses must look at ways to maximize productivity, and one of the simplest ways of doing this is automating administrative and manual tasks. This includes many back-office processes that are often still paper-based and inefficiently managed across different systems and departments.
DocMX is a SaaS technology that ingests hospitality information from various mediums and third-party systems, using rules-based machine learning and artificial intelligence to capture the relevant key information and process it onto automated reconciliation and audited workflows. DocMX enables our customers to automate up to 70% of transactions in revenue auditing, Accounts Payable & Receivable, HR, Sales, and many other processes.
This also enables hospitality groups to standardize efficiencies in different business areas, share workloads across dispersed locations and securely store information utilizing AWS technology in compliance with local legislation.
No more chasing information around the office taking you away from more value-add activities! Additionally, automation guarantees concrete financial savings: up to 70% of time reclaimed, print related expenditure reduced by up to 90%, and a single staff member can take care of multiple roles and locations.
Case study: IHG Hotels
Read here how InterContinental Hotels in Portugal have automated their revenue auditing and other financial operations, or here to learn how Holiday Inn-IHG in Singapore have saved money and received Tourism Innovation grants by using DocMX!