Running a thriving restaurant group comes with its unique challenges, and perhaps one of the most complex aspects is managing tips and having visibility at the corporate, location, and individual level. As distribution rules, roles, and systems vary under one umbrella, payroll management can quickly become a logistical headache. Centralized payroll can help streamline the […]
hospitality accounting
Hospitality Technology Service Standards: Insights from the HFTP Conference
Industry leaders and experts came together to explore the latest trends, innovations, and challenges in the hospitality sector at the 2023 Hospitality Finance and Technology Professionals (HFTP) Convention. This year, a significant focus of the conference defined the latest service standards for hospitality and finance technology. One of the main service standards discussed at this […]
The Role of Technology in Las Vegas Union Contract Negotiations
Union contract negotiations for roughly 40,000 housekeepers, bartenders, cooks, and food servers at some of the largest hotels and casinos in Las Vegas are unfolding. These discussions have garnered the attention of industry professionals and underscore the immense importance of effective labor management during times of change. The union UNITE HERE has been engaged in […]
Supporting Essential Associates Amid Changing Tipping Trends
In the dynamic world of hospitality, change is the only constant. From expedited check-outs to the rise of contactless payments, the landscape of hotel operations is evolving at a remarkable pace. Amid these transformations, one crucial aspect often overlooked is the gratuity extended to the hardworking individuals who ensure guests have a memorable stay – […]
The New Credit Card Reconciliation – Industry Chatter from HITEC
In today’s fast-paced business landscape, industries are constantly evolving and adopting innovative solutions to streamline their operations, and the hospitality sector is no exception. Leaders from across the industry recently converged at HITEC where the Evention team learned more about the challenges companies are facing in credit card reconciliation. This critical financial process can consume […]
From Spreadsheets to Simplicity: How Automation is Simplifying Hotel Reconciliation
Reconciliation is an essential part of the accounting process, and it can be a tedious and time-consuming task, especially for the hospitality industry. Before introducing technology solutions, hotel accountants spent hours on massive spreadsheets, color-coding, filtering, sorting, and manually matching transactions. The reconciliation process required enormous effort, time, and resources that could have been better spent […]
