Hospitality is a broad industry consisting of sales of accommodation, food services, and related goods by organizations, sole traders, or partnerships that provide customers with lodging and/or meals, snacks, and beverages for immediate consumption. No matter the direction you choose for your business in the hospitality industry, one thing is of the essence, the customer comes first. The hospitality sector has always prioritized its customers. This is evident with the customer service they provide and the various efforts they make to ensure their guests are comfortable.
Globally, one of the hardest working sectors, hospitality, is also known to be an expensive business. Hence, the COVID-19 pandemic turned an already competitive business into a dreadful nightmare for business owners and employees. Flight and hotel cancellations gave way to complete lockdowns overnight, with the hospitality industry coming to an absolute standstill. Fortunately, once the percentage of vaccinations rose, travel cautiously began rising again for various reasons. People were looking forward to step out of their homes for work, to meet families and loved ones, to travel, etc. However, studies show that consumer spending on discretionary items like travel, eating out, entertainment, etc., would stay low, and the focus would remain on the basics like groceries, internet, mobile services, etc. This indicates that there is still a way to go for the hospitality industry to reach the same glory as in pre-pandemic times.
Outlook of the Hospitality Industry
The global hospitality industry is expected to regain its growth after being restricted by social distancing measures, remote working, and the closure of commercial activities caused by the COVID-19 pandemic. But the industry has turned the challenge into an opportunity by investing in the digital transformation of processes.
In 2020, the smart hospitality sector reached approximately six billion U.S. dollars and was forecast to grow to 58.1 billion U.S. dollars in 2027 at a compound annual growth rate (CAGR) of 22.6 percent. - statista.com
The increasing speed of technological innovation in all industries has also been a catalyst for the digitalization of the hospitality industry. In early 2021, hoteliers in Asia, Europe, and North America were surveyed by Statista on which aspects of the guest journey they were looking to digitize. The majority of respondents, 70%, stated that they were looking to digitize hotel information for their guests. Meanwhile, 57%of respondents indicated that they were looking to digitize the check-in and check-out process. Meanwhile, hotels have also prioritized contactless technology to enhance customer experiences through mobile applications and websites to book rooms and even experiences. This has helped them increase customer visits to their premises and fuel tourism. The seamless check-in and check-out process have helped alleviate the stress of customers, enabling them to enjoy a hassle-free trip. Other automation technologies that have been leveraged by the hospitality industry are keyless entry and mobile payments to run hotels efficiently, digital documentation, and the most essential – online signatures. Using these technologies has helped the industry go paperless and rid their staff of excessively complicated documentation workflows, and curb expenses.
Also Read: E-Signatures: The Impact on Workplace Productivity
Hospitality Going Paperless?
The hospitality industry is laden with heavy paperwork – printing a lot of paper receipts, contracts, forms, invoices, etc. According to Statista, restaurants in the UK print nearly 811,000,000 bills and receipts annually. With more than 86,627 restaurants in the UK. and 55,000 bills printed by felling one tree, the restaurant industry alone cuts approximately 14,437 trees annually.
It is estimated that around 90% of hotel operations are managed with pen and paper – hospitalitytech
The global hospitality industry can benefit greatly by going paperless. Let's have a quick look at how going digital can serve the sector:
- Cut costs on ink, paper, and toner, as well as the costs associated with running and maintaining printers, scanners, photocopiers, etc.
- Streamline processes using an electronic signature to speed up the entire check-in and check-out, invoicing, payments, and contracts processes.
- Going paperless by switching to electronic invoices, notices, and statements free up the time used for printing, mailing, and filling out documents, thereby increasing productivity.
- Allow your clients to check in from the comfort of their hotel room or a calmer, less crowded environment such as a lounge area – this will give them more time to peruse your offering, giving you opportunities to upsell extra amenities, packages or upgrades.
Source link to learn more about “eSignatures: Positively Transforming Customer Experience in the Hospitality Sector”: https://bit.ly/3jPFQeM
Or Talk to our experts to find a plan suitable to your unique business needs. Get DrySign now! : https://bit.ly/3ia2Kgt
From quickly handling student applications to doing employee on-boarding, electronic signatures provide a safer and more effective way of obtaining signatures.
In 2000, the ESIGN Act gave e-signatures the same legal standing as wet-ink signatures.
That was followed by the UETA act, which was embraced by most states in the U.S to guarantee uniformity in the use of e-signs and electronic records.
