Toggle Hospitality, an online business to business platform, marked its arrival at the Arabian and African Investment Conference (AHIC 2021) with CEO Fuad Sajdi speaking on how this new SaaS enabled technology will revolutionise hospitality procurement and usher in critically needed efficiencies, savings and transparency across the whole purchasing cycle and supply chain. Digital innovation was a major focus of the conference as hospitality leaders across the world look to technology for new solutions to the challenges the industry faces and which the Covid pandemic has accelerated.
Procurement remains a key activity for the whole hospitality industry from hotels and resorts to restaurants, attractions, and cruise liners among others which require constant supply of goods and services. Not only is it critical to operational success but underpins the ability of organisations to deliver excellence in customer service.
“Toggle Hospitality is a SaaS enabled marketplace for operating suppliers and equipment powering the massive B2B shift in offline purchases that are going online.” said Fuad Sajdi, CEO of Toggle Market, “We want to be an engine of liberation from the mundane tasks of procurement that as anyone working in hospitality, whether at the pre-opening stages of a hotel development or on a day to day operational of any hospitality property knows, is one of the most difficult and complex activities with multiple stakeholders and requirements.”
Hospitality procurement is not unique in its supply chain challenges but is unique in its requirements with a long process that includes vendor sourcing, non-standard requirements, product comparisons, cost negotiations and the cycle of purchasing from quotations to invoicing that need to take into account shipping and logistics as most of these products will fall under the category of cross border transactions. Listen to Fuad Sajdi’s insight on the challenges of the current procurement process here.
Jonathan Worsley, Chairman & CEO of Bench, co-organisers of AHIC 2021 said, “Innovation across Hospitality is now more important than ever before as the industry rises again after the impact of the last few years. Companies like Toggle Hospitality and others who joined AHIC focusing on real life problems for business will be part of this success.”
Toggle Hospitality is offering some of the world’s most prominent suppliers of the industry across all categories with household brands such as Steelite, La Tavola, FoH, MyGlass Studio, Magisso and IVV amongst many others, and with more suppliers scheduled to go live each week the platform is on track to become earth’s largest hospitality marketplace. In addition to the marketplace, Toggle Hospitality offers configurable enterprise level solutions to large hospitality operators with multiple projects. Features of the marketplace include a cognitive catalogue that speeds up the sourcing process and workflow tools that track transactions and offer direct communication with suppliers.
“We can now directly connect hospitality buyers with fully vetted suppliers and offer unprecedented transparency across the different stages of the purchasing cycle to remove the kind of stress and hassle that comes with managing tens of hundreds of transactions for hoteliers and larger outlets at pre-opening stage, while at the same time offering a first class user intuitive journey that makes it just as easy for smaller hospitality outlets purchasing smaller quantity of operational goods.” added Fuad Sajdi, CEO, “This is in addition to giving complete control over all their transactional history to make it easy each step of the way for managing budgets, tracking spend, and status of purchases.”