Managing invoices can be a time-consuming and error-prone task for restaurants and catering businesses.
Advanced restaurant and catering Invoicing software is a game-changer.
It streamlines the entire process, saving time and significantly reducing errors. Automated tools capture invoice details, handle approvals, and integrate seamlessly with your existing accounting systems.
However, choosing the right software makes all the difference.
Let’s compare three leading invoicing tools: Opsyte, Hubdoc, and ApprovalMax, to help you find the best solution for your hospitality needs.
Feature #1: Invoice Capturing
Business intelligence is on the rise, with 46% of businesses planning to make it their top tech investment in 2024. Automated invoice capturing is a big part of that.
Let’s face it: Capturing invoices manually can be a real hassle. It's time-consuming and prone to mistakes.
Enter sophisticated tools that make invoice capturing a breeze:
- Opsyte is tailored specifically for the hospitality industry. Developed by hospitality professionals, it uses OCR technology to automatically capture and code invoice details. This means no more manual data entry and fewer errors. It’s built with your restaurant, pub or catering business in mind, ensuring every invoice is processed quickly and accurately.
- Hubdoc also uses OCR to capture invoice details. It’s a versatile tool suitable for various industries, but it’s not hospitality-specific. Hubdoc pulls in your invoices and receipts, extracts the key data, and syncs it with your accounting software.
- ApprovalMax offers capturing functionality in ApprovalMax Capture, which integrates with Xero and QuickBooks. It’s primarily designed for approval workflows rather than just capturing invoices but could be used as a sales and restaurant invoice generator. While it handles data extraction well, its strength lies in managing multi-step approvals.
In summary:
- Opsyte: Best for hospitality with industry-specific features.
- Hubdoc: Versatile, great for multiple industries.
- ApprovalMax: Strong on approvals, with good data capture capabilities.
Feature #2: Integrations
Integrations are key to a seamless invoicing process. It’s important to have an invoicing tool that integrates easily with other essential hospitality tools.
- Opsyte integrates smoothly with popular accounting systems like Xero and Sun Systems. It also connects with various hospitality industry tools, like POS systems, ensuring comprehensive compatibility.
- Hubdoc offers integration with major accounting platforms such as Xero, QuickBooks, and Bill.com. This broad compatibility suits many business types.
- ApprovalMax provides deep integration with Xero and QuickBooks, focusing on enhancing approval workflows within these systems.
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Feature #3: Invoice Approval
Streamlining invoice approval is essential for efficiency.
- Opsyte features a multi-level approval system designed specifically for restaurants, bars and catering businesses. Customisable workflows ensure invoices are routed to the right people quickly, reducing delays. Invoices can also be approved from anywhere, thanks to the Opsyte app.
- Hubdoc provides basic approval features, focusing more on capturing and storing documents.
- ApprovalMax is focused on approval workflows. It offers robust multi-step approvals with role-based access, ensuring secure and efficient processing.
Feature #4: Cost
Cost is a crucial factor when choosing invoicing software. You don't want to be paying for features you don't use.
- Opsyte offers modular pricing starting at £50 per month per module. This allows you to customise and scale according to your business needs.
- Hubdoc uses a subscription-based model, with costs varying based on the number of users and document volume.
- ApprovalMax also employs subscription-based pricing, with tiers depending on the number of users and approval workflows.
Further Consideration: Unique Features
Now let’s take a look at the unique features each invoicing tool brings to the table:
- Opsyte stands out with its AI-powered reporting and real-time tracking. Designed by hospitality professionals, it offers a centralised dashboard to manage various tools, allowing restaurants, bars, and caterers to add modules as needed. The mobile app enhances flexibility for managers on the go.
- Hubdoc is good for document management and storage, providing easy extraction of financial data for bookkeeping purposes.
ApprovalMax offers advanced approval workflows and role-based access control, ensuring secure and efficient processing.
These unique features cater to different business needs, enhancing overall efficiency and control.
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Optimise Operations with Smarter Invoicing
Streamlining invoicing processes is key to boosting the profitability of restaurants.
Restaurant and catering invoicing software like Opsyte can save you time and increase accuracy, reducing costly errors.
And, while there are many invoicing tools on the market, it is important to choose one that can be a seamless part of your hospitality management ecosystem.
Opsyte shines with its hospitality-specific features and AI-powered reporting, making it a standout choice.
While Hubdoc and ApprovalMax offer strong capabilities, Opsyte’s tailored approach is perfect for restaurants and catering businesses. It may just provide everything you’ve been looking for, and more.
