Hotel Operators Tap New Profitability Strategies that Work in the Current Economy
Companies Save Money, Improve Performance with Reduced Staff; Leverage Business Intelligence and Accounting Tools
By Cam Troutman
Through integration with Aptech’s accounting application, Concord uses a document management system to print bar codes and scan invoices for electronic tracking and document workflow. They no longer make copies, mail originals, or use filing cabinets. There is no time spent on any of these activities and no physical storage space required. “The team at Aptech did a wonderful job integrating Webvue / Profitvue with our document management system. The accounting data goes into the Aptech system and we shred the hardcopy. When our auditors come, we provide them the documents they need quickly,” Cornell said. At properties where hundreds of invoices are entered weekly, the benefits include reduced staff costs and a management team that relies on technology for daily administrative duties while they focus on guest service and profitability.
Saving paper is just the beginning
Reduce labor costs
The best time and attendance systems deliver reports by person, hour, and other measures. BI goes farther to compare labor data per-occupied-room and as a percent of revenue. Labor is the largest variable expense for hoteliers; it is also the most controllable. When operators have more current information, they can respond to red flags quickly so their managers are staffing as prudently as possible.
Most hotel companies use a daily flash report as a report card on property performance. Developing this report from night audit metrics and historical records once took a staff member two or three hours every day, but BI systems can automatically produce a variety of custom flash reports through data uploads from hotel property management, time and attendance, and other systems. The same BI technology can include Smith Travel comp set information to make the flash report more relevant and automatically distribute them via e-mail to managers and ownership.
By automating the daily report process, operators eliminate staff time while making reports immediately available to managers via the Internet. Flash report automation can also produce reports during the weekend so there is no delay on Monday in responding to potentially costly issues that arose on Saturday or Sunday.
Accurate information is money
- Highest, medium, and lowest cost per room brand by brand, region, market;
- Profitability by manager, location, and other factors to see which management teams are best at controlling costs.
Multi-property hoteliers are realizing big advantages from Internet-enabled accounting systems and business intelligence. Properties communicate more easily with the corporate office to exchange information they need without wasted staff time at the fax machine or on the phone and greater efficiency and profitability is the result.
Aptech Computer Systems | Aptech Computer Systems, Inc., based in Pittsburgh, Pennsylvania, leads the hospitality industry in leveraging change by valuing human relationships and applying technology to solve business problems for people. Incorporated in 1970, Aptech is a financial and operations technology solutions and service company whose products include state-of-the-art back office, business intelligence and enterprise planning products: Profitvue, Execuvue, Webvue and Targetvue. Over 2,500 properties, including very large chains, multiple-property management companies, and single-site hotels utilize Aptech solutions to understand their financial and operational data. Execuvue and Profitvue are registered trademarks of Aptech Computer Systems, Inc. All other trademarks are owned by their respective holders.
Phone: (412) 963-7440