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Expanding SmartPay: A Strategic Alliance

BirchStreet Systems, recognized globally as a leader in hospitality operations, has recently formed a strategic alliance with Viewpost, a pioneer in digital payments for enterprises. This collaboration aims to bolster BirchStreet's SmartPay solution, which processes billions of dollars annually, transforming supplier payment processes for hospitality operators.

The Role of SmartPay in the Hospitality Sector

As part of the end-to-end procure-to-pay process, BirchStreet SmartPay offers hospitality businesses an integrated solution to manage supplier payments. In conjunction with Viewpost, BirchStreet is significantly enhancing its supplier onboarding and payment conversion processes, allowing customers to digitize payments with far less friction.

AI-powered features bring improved supplier engagement, targeting moments when suppliers are most likely to accept electronic payments. This initiative promises to increase participation rates while facilitating a smoother transition away from traditional paper payments.

Upon integrating the enhanced capabilities of SmartPay, hospitality operators can expect streamlined workflows that demand minimal operational adjustments. Viewpost ensures that all payments are routed through the suppliers' preferred digital channels while offering clients ultimate control over their funds until final settlement—a vital aspect that helps maintain liquidity and an enhanced cash flow situation.

Advantages of the Partnership

This partnership stands to revolutionize how hospitality operators approach accounts payable processes. The collaboration is particularly significant for several reasons:
1. Increased Electronic Payment Adoption: By combining BirchStreet's hospitality platform with Viewpost's advanced technology, the two companies aim to elevate the adoption rates of electronic payments in the sector.
2. Enhanced Payment Control and Visibility: With this integration, clients enjoy greater control over payment processing, reducing fraud risks associated with paper checks while increasing payment tracking efficiency.
3. Streamlined Reconciliation Processes: The improvements in payment transparency and control allow for faster reconciliation, simplifying financial operations significantly.

As stated by John McCaffrey, COO of BirchStreet, "Payments create the most value when they are a seamless extension of the procure-to-pay process." His assertion underscores the importance of integrating payments into the existing workflows of hospitality operators—an endeavor made feasible through this strategic partnership.

Jordan Novak, Chief Revenue Officer of Viewpost, adds, "BirchStreet is redefining how hospitality companies think about payments… Together, we are setting a new standard for embedded payments in hospitality." Their shared vision focuses on making digital payments not just a possibility but a standard operational procedure for businesses in the hospitality arena.

Conclusion

In conclusion, the collaboration between BirchStreet and Viewpost encapsulates a significant advancement toward a future where hospitality operations can efficiently manage supplier payments without the hindrance of outdated methods. As they forge ahead, both companies are poised to redefine industry standards—enabling hospitality operations to secure their financial processes, streamline efficiency, and stay competitive in a landscape that increasingly demands digitization. The impending transformation from paper to electronic payments stands to benefit not just the companies involved, but also the suppliers and ultimately, the hospitality customers they serve.

For those looking to delve deeper, further information can be found at BirchStreet's official website.