Tired of writing checks? Worried about rampant check or credit card fraud? Want someone else to handle all of your supplier payments for you? BirchStreet Pay is the smarter way to pay. — Photo by BirchStreet Systems

A recent Gartner report claims that by 2025, quite 50% of organizations around the world will have a cloud-based procure-to-pay suite. Tools like BirchStreet Pay are gaining traction as hotels learn more about the advantages and cost opportunities of using saving procurement solutions.

Procure-to-pay is the process of integrating purchasing and accounts payable systems to create greater efficiencies. It exists within the larger procurement management process and involves four key stages: selecting goods and services; enforcing compliance and order; receiving and reconciliation; invoicing and payment.

In the podcast interview, Kris Herrin, General Manager of Payments at BirchStreet Systems, reveals some surprising risks companies face today and the benefits of digitalizing your procurement and payments process.

Kris is a recognized payments expert with over 25 years of leadership in high-growth technology companies. Most recently, Kris served as Chief Product Officer for VPay, a B2B insurance fintech leader which recently sold to Optum. With a strong technical background, including prior roles as CTO, CIO, and CISO, Kris brings a zeal for innovation, solving customer problems, and value-building. Kris is a native of Texas, where he resides with his wife and daughters. He earned multiple degrees in computer science from the University of Texas at Dallas. As a recognized expert, he is a conference speaker and former graduate school adjunct professor. Kris even holds a patent for securing telebanking solutions.

Process automation with procure-to-pay by BirchStreet Pay can:

  • Actively control and improve global spend
  • Enhance security and compliance - reducing fraud and risks
  • Consolidate most manual commerce processes to reduce errors
  • Streamline catalog maintenance, saving time and freeing up resources
  • Rapidly enable the approval of new suppliers
  • Drive savings to the bottom line to maximize the value of sourcing negotiations

Fraud is on the rise, with 74% of organizations being targets of a payments fraud attack in 2020. Kris explains how BirchStreet Pay can strengthen compliance and control among vendors, contracts, regulations, buyers, and accounts payable. He also delves into how we help organizations buy from preferred suppliers at negotiated prices without the manual paperwork and spreadsheet headaches while gaining cash back and peace of mind with BirchStreet Pay.

Watch the full video interview with Kris. 

About BirchStreet Systems

Founded in 2002, BirchStreet is the leading global provider of enterprise procure-to-pay solutions for the hospitality sector. BirchStreet's software platform provides leading global hospitality brands with a full suite of procurement applications, including eProcurement software, accounts payable automation, invoice management, inventory management, recipe management, supplier payments, and reporting and analytics. BirchStreet's customers leverage the company's solutions to access a broad network of suppliers and manage billions of dollars of spend annually across a wide variety of categories, including food and beverage, operating supplies, maintenance services and capital projects. For more information, please visit www.birchstreetsystems.com.

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