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How Data-Driven Procurement Transforms Hospitality

Did you know? Technological advancements have triggered an uncontrollable shift, reshaping the landscape of hospitality operations. One area affected by this transformation is procurement – where old-school practices are giving way to innovative, data-driven approaches. Let’s explore these rapid transformations in the hospitality industry along with the significance of data-driven procurement while we shed light […]

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4 Benefits of Leveraging Hotel Procurement Technology

It’s impossible to manage your hotel operation manually these days. There are too many processes and data points to be able to keep up with the flow of information that goes along with every purchase your procurement team is making. Let’s face it – cutting costs and reducing labor have made the top of your […]

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3 Core Benefits of Joining Source1

Running a hotel operation requires industry knowledge and expertise. As a Source1 member, you get access to exclusive savings opportunities, cutting-edge procurement technology and partnerships with popular brands that your operation uses every day. These days, hospitality procurement departments are often short staffed and lack the visibility into purchasing success factors such as pricing, distribution […]

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How to Reduce Transaction Costs

As is common knowledge in business, transaction costs are expenses incurred when buying or selling goods or services. These are associated with the work required to bring goods or services to market. Irrespective of the size of business every hotel must choose between “make or buy”. This means they must decide to produce the goods and services that they offer themselves or not.

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