Accounts Payable & Receivable for Hospitality
Hospitality
6-9 months
4 phases
Step-by-step transformation guide for implementing Accounts Payable & Receivable in Hospitality organizations.
Why This Matters
What It Is
Step-by-step transformation guide for implementing Accounts Payable & Receivable in Hospitality organizations.
Is This Right for You?
52% match
This score is based on general applicability (industry fit, implementation complexity, and ROI potential). Use the Preferences button above to set your industry, role, and company profile for personalized matching.
Why this score:
- • Applicable across related industries
- • 6-9 months structured implementation timeline
- • High expected business impact with clear success metrics
- • 4-phase structured approach with clear milestones
You might benefit from Accounts Payable & Receivable for Hospitality if:
- You need: Modern ERP with API access
- You need: Bank integration for payments
- You need: Clean vendor and customer master data
- You want to achieve: Overall reduction in processing costs by 50%
- You want to achieve: Improvement in cash flow forecast accuracy to over 90%
This may not be right for you if:
- Watch out for: Data silos between PMS, POS, and ERP systems
- Watch out for: Resistance to change from AP/AR teams
- Watch out for: Vendor adoption issues with digital onboarding
What to Do Next
Start Implementation
Add this playbook to your workspace
Implementation Phases
1
Assessment & Planning
4-8 weeks
Activities
- Conduct current-state process mapping
- Identify pain points and automation opportunities
- Define business requirements and success metrics
- Secure leadership buy-in and form cross-functional team
- Select technology partner and review ERP compatibility
Deliverables
- Current state analysis report
- Business requirements document
- Technology partner selection
- Leadership buy-in confirmation
Success Criteria
- Completion of process mapping
- Identification of at least 3 automation opportunities
- Leadership approval of project plan
2
System Integration & Data Preparation
8-12 weeks
Activities
- Ensure modern ERP with API access
- Integrate with PMS, POS, payroll, and bank systems
- Cleanse and standardize vendor/customer master data
- Set up secure payment gateways and bank integrations
- Configure AI-powered OCR/NLP for invoice capture
Deliverables
- Integrated system architecture
- Cleaned vendor/customer master data
- Configured OCR/NLP system
- Payment gateway setup confirmation
Success Criteria
- Successful integration tests with all systems
- 100% accuracy in vendor/customer data cleansing
- OCR/NLP system captures 90% of invoices correctly
3
Pilot & Process Automation
4-8 weeks
Activities
- Launch pilot with a subset of vendors/invoices
- Automate invoice receipt and data extraction
- Implement automated payment reminders
- Test cash application for exact matches
- Monitor system performance and gather user feedback
Deliverables
- Pilot project report
- Automated invoice processing system
- User feedback summary
- Refined workflows based on pilot results
Success Criteria
- Pilot completion with at least 80% accuracy
- Reduction in manual processing time by 50%
- Positive user feedback from at least 70% of participants
4
Full Rollout & Optimization
8-12 weeks
Activities
- Expand automation to all AP/AR processes
- Enable intelligent collections and payment optimization
- Automate reconciliation and reporting
- Train finance and operations teams
- Establish ongoing monitoring and support protocols
Deliverables
- Fully automated AP/AR system
- Training materials and sessions completed
- Monitoring and support plan
- Final project report with KPIs
Success Criteria
- Full automation of AP/AR processes achieved
- Reduction in DSO by 20-30%
- Training completion with 90% staff proficiency
Prerequisites
- • Modern ERP with API access
- • Bank integration for payments
- • Clean vendor and customer master data
- • Property Management System (PMS) integration
- • Point-of-Sale (POS) system compatibility
- • Compliance with PCI DSS and GDPR
Key Metrics
- • Days Sales Outstanding (DSO)
- • Invoice Processing Cost
- • Payment Cycle Time
- • Payment Accuracy
Success Criteria
- Overall reduction in processing costs by 50%
- Improvement in cash flow forecast accuracy to over 90%
Common Pitfalls
- • Data silos between PMS, POS, and ERP systems
- • Resistance to change from AP/AR teams
- • Vendor adoption issues with digital onboarding
- • Inadequate controls leading to compliance risks
ROI Benchmarks
Roi Percentage
25th percentile: 2
%
50th percentile (median): 3
%
75th percentile: 5
%
Sample size: 50