AI-powered accounting automation platform Docyt has joined forces with x·quic, a cloud platform for online travel agencies (OTA), to offer a bundled financial services offering for hotel owners and franchisees.
This collaboration integrates Docyt’s real-time bookkeeping capabilities with x·quic’s OTA Savings.
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The integrated solution employs AI-driven workflows to optimise financial management and enhance hotel profitability, catering to both individual sites and extensive franchise networks.
Docyt AI is designed to support both single and multi-entity hotel operators, management companies, and franchisees by automating bookkeeping and other back-office tasks.
This enables access to real-time financial reports, key performance indicators (KPIs), and unit-economics insights, for efficient business operations.
The platform facilitates various financial operations, including bill payments, employee reimbursements, and tracking of corporate credit card spending.
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By GlobalDataThe integration with more than 30 point-of-sale, property management, and payroll systems offered by Docyt AI allows hoteliers to transition from manual data management to AI-driven processes.
This digitisation and automation of financial workflows is said to enable real-time financial reporting.
x·quic CEO Nimesh Shah said: “The importance of being able to audit data and provide clear insights cannot be understated. Through this partnership, we help ensure that hotel owners can cut through all the noise of disorganised data.”
x·quic’s OTA Savings service is designed to save hotels both time and money by identifying and claiming unredeemed virtual cards with active funds.
In addition, its AI-driven technology ensures the reconciliation of OTA reservations, guaranteeing that hotels pay commissions strictly based on the actual room revenue collected.
In partnership, Docyt AI and OTA Savings by x·quic intend to help hoteliers shift to AI-driven digitisation and automation of financial workflow while enabling real-time financial reporting.
Docyt co-founder and CEO Sid Saxena said: “Docyt and x·quic share a common mission to harness the power of AI to transform bookkeeping processes in the hospitality industry.
“Our partnership delivers an integrated solution that helps hotel management save time and money in reconciling OTA and bookkeeping services, enabling them to run their businesses with greater efficiency and profitably than ever before.”
