As portfolios grow and management teams request more real-time reporting, there can be pressure on the hotel accounting and operations teams to produce more intelligence faster.
So then, how do you deliver on increasing demands without driving up staffing or burning out your team?
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Just as it takes a specific skill set to effectively manage hotels, those of us in the industry also know that hotel management itself requires specific software. Hotel-specific accounting software meets the unique needs for hotel accounting; however, it was never designed to be used by third-party management companies to manage their corporate finances.
Consider the challenge for management companies to bill each hotel for management services. . .
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Is your hotel Accounts Payable team buried under invoices? Harried, stressed, balancing invoices, due dates, approvals, and dragged down by manual entry processes?
It doesn’t have to be this way. Imagine a streamlined future where invoices are automatically scanned, data recognized, sorted, and coded into the accounting system. Where your team wins back ⅓ of the time …
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Discover effective strategies and tools to automate bank reconciliation for hotels. Learn how to streamline financial processes and reduce manual effort through innovative automation techniques tailored specifically for the hotel industry.
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As talk about AI and machine learning continues to grow, we can't help but wonder what role will these technologies play in shaping the future of our industry? Right now, these technologies are built into many of the best business intelligence (BI) tools, giving us the ability to quickly and accurately analyze data to predict...
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As the business, leisure, and group travel markets continue to get closer to pre-pandemic levels, hoteliers are eager to harness this momentum but remain cautious about what may lie ahead. After all, today's financial landscape feels a bit like a roller coaster. Many are still trying to fully bounce back from the pandemic, while others...
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Wondering how top hotel companies are crushing the competition? We'll give you a hint—they traded in their spreadsheets for powerful data analysis tools that help them easily extract powerful insights. By analyzing data on booking behavior, room rates, and more, hoteliers can optimize their pricing strategies, identify operational inefficiencies, and reduce costs, resulting in better...
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