Accounts payable is a cumbersome side of financial management for the hospitality and restaurant sectors. High volumes of deliveries, along with the chance of damage to perishable items, means that keeping track of short-term credit to various sellers is a tricky business.
Ottimate's solution is to effect digital transformation across B2B payments and accounts payable in the hospitality sector. The company’s VendorPay allows customers to make payments directly to over 200,000 vendors straight from their AP platform, streamlining and resolving the late payments issue that’s been growing steadily in the sector.
Margins in the sector are famously tight, so even the most modest of operational improvements can make substantial gains for hospitality businesses. Indeed, over 30,000 restaurants, hotels and grocery chains across the US are using Ottimate’s platform, including leading brands such as Best Western, Holiday Inn and Foodtown.
Kirsty
Company Specialist at Welcome to the Jungle