Uploaded on Mar 18, 2021
While analytical insights have become a predominant success driver for various industries, the hotel industry has been lagging behind. One as a hotelier must lookout for an ability to use his/her data in order to make decisions that show a drastic impact on business, while unleashing more space to give attention to guests.
Transforming Your Raw Hotel Accounting Data Into Actionable Insights
Transforming Your Raw Hotel Accounting Data Into
Actionable Insights
While analytical insights have become a predominant success driver
for various industries, the hotel industry has been lagging behind. One
as a hotelier must lookout for an ability to use his/her data in order to
make decisions that show a drastic impact on business, while
unleashing more space to give attention to guests.
Hotel industry is being faded out in this aspect, just not only because
of lack of data. In fact hotels deal with millions of transactions every
year and even the guests’ data keep increasing day by day. This
prevent hotel owners and management from truly capitalizing and
leveraging the trove of available data.
It takes a special skillset to transform the data into actionable insights.
Hotel Accounting System with significant analytical functionality
and automation lets you see a full and accurate picture of your
performance, without leave both past and future data on the table.
Exploit The ‘Technology’
With the right technology, almost every process can be automated and
hoteliers should look for a platform that brings in advanced
technology that displays real-time data and authentic hotel specific
reports. End goal has to be spending less time in gathering reports
from PMS systems, and other resources as they consume loads of
time for both revenue teams and operations’ individuals.
Nimble Property’s intelligent dashboard consumes your data and lets
you understand all your important happenings, letting you also
communicate from then and there. It lays visual-rich data
communication!
Starting from operations, you will be able to navigate all your hotel
group activities including banking summary, bills, checks, journals
and sales that are up for approval, besides recurring dues.
Performance tab illustrates property-wise occupancy %, rooms sold,
ADR, RevPAR, Room Revenue and Total Revenue.
Moving ahead, there’s an another tab that brings in a proper
segregation of your hotel group’s revenue, income and expenses with
crisp clear breakdown.
Corporation wise, your income, cost of goods, expenses, income and
net profit is visualized pretty much in detail on the Profit & Loss tab.
Switching to Accounts Receivables & Payables Aging tabs will
exhibit all your properties’ outline of the outstanding bills and
invoices of your business.
Further the STR data on dashboard exposes the property-wise
competitive sets and index figures, related to occupancy percentage,
Average Daily Rate and Revenue Per Available Room.
Guest Satisfaction tab on Nimble’s dashboard is well crafted to
showcase property-wise key-drivers, comments, and benchmarking
information, by which you can know the pulse of your satisfaction
scores.
It doesn’t end here, the dashboard of Nimble Property gives you a
leverage to seamlessly navigate to perform accurate budgeting,
reconcile bank accounts, generate balance sheet, income statement,
journal ledger stock report and combined statements – Everything
with ease!
Diving your DATA unleashes space to seek high PROFITS
Business Intelligence driven data drill-down in Hotel Accounting
Software like Nimble gives you flexibility and control over your hotel
finances, eliminates the long waiting for needful reports to be all
compiled and later shared.
Gone are those olden days of relying on static reports, that used to
come as manual copies from the PMS.
SLICE & DICE your DATA and have it more INSIGHTFUL
Nimble Property gives you a flexibility to build and report your data
you like and how you want your business to be mirrored, from both
financial and operational perspective.
Unlike ever before, the accounting abilities in here gives you the right
data access, tailored to hotel industry – which is pretty much unlike
seen every before in traditional hotel accounting systems.
Fortunately, Nimble is reacting to the precise needs of hotel
accounting and embracing integrations and automation methods to
extract the data effortlessly from various systems. This will let you
work more cohesively within your hotel space and process enormous
amount of data within less timespan.
Final thoughts
In today’s competitive hospitality world, hotel owners are under
constant pressure in improving their profitability and this prompts to
seek high level of transparency into data and financial performance so
only insights can be uncovered and decision making can be enhanced.
Armed with intelligent and meaningful insights, the intuitive
dashboard like of Nimble Property improves your bottom line, by
having glance at all the hotel happenings, adjusting pricing, reducing
costs and rationalizing sluggish & unprofitable properties.
Without any doubt, hotel business leaders need financial information
in order to quantify the true value, accelerate hotel performance and
gain a competitive advantage.
78% successful hotels already believe and agree to the fact that
accessing insightful information has a paramount importance for
strategic decision making.
Like its said, the data transformation and technology advancements
have helped hotel business owners overcome their historical
challenges, generate more value, save costs and overhead.
The needful data and information, when handy provides you a great
chance to maximize your future prosperity, elevate profitability and
reduce risks of cash flow disruptions.
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