d2o Continues Roll Out of Integrated PMI Software Solution to Benchmark Hospitality
System gives department heads tools to ‘Think like A CFO’ and control expenses proactively daily. Combines occupancy, revenue forecasting, labor productivity management, and food costing in one package
"We did not find another system that integrates the three essential management disciplines we needed," says Benchmark CFO Dennis Blyshak. "PMI combines occupancy and revenue forecasting, labor productivity management, and food costing by day in one package. At the executive level, the system rolls up all properties into one report that is updated daily. At the property level, each department head receives a graphic view of how they are performing against plan and forecast. This management intelligence gives them tools to think like a CFO and manage resources based on clear profitability goals."
The system gives Benchmark a rolling forecast of group demand and pick-up that is updated daily and influences other variables, such as purchasing. Blyshak noted that when an operator accurately forecasts each guest segment’s daily pick-up, it can optimize labor scheduling for housekeeping and other departments and be more profitable.
‘Cockpit’ Control of Revenue Optimization
The property GM and department heads have access to all cockpit displays. This approach encourages managers to compare their performance and see how their operations affect the entire property. This also enables managers to benchmark performance between similar departments across all properties. Since PMI is web-based, secure data is available to Benchmark’s remote managers from any browser.
Blyshak said PMI’s ‘real power’ is its ability to combine accurate rolling forecasts with labor management to enable optimized staff scheduling. PMI also supports standardization of Benchmark’s general ledger and market segments.
PMI’s visual graphing of departmental performance supports more efficient management at all levels. "Corporate executives appreciate the ability to view data from multiple properties," says Blyshak. "With department heads reviewing their data each morning, everyone is aware of how he or she is doing and able to view all other departments. Managers see who has and has not checked in to update the system, which adds accountability."
An integral part of PMI is PMI Planning, an integrated profit and loss budgeting and forecasting tool that goes beyond traditional monthly forecasting and yearly budgeting. Departments do not have to make a budget or forecast with PMI Planning because the module ensures the daily management at departmental level is linked with the P/L budget and forecast.
About d2o | d2o is a hospitality industry innovator in integrated software solutions. Its Performance Management Intelligence (PMI) suite enables hotel and resort department heads to "think like a CFO" and intelligently manage their daily costs in, on average, 5 minutes a day. PMI Revenue and Productivity and PMI Planning enhance and integrate currently installed standalone solutions. PMI combines data on labor and food cost productivity, rolling daily revenue forecasting, and budget planning into a single system. PMI eliminates the stress of daily, weekly, and monthly reporting deadlines by improving delivery of performance information. PMI Planning also distills the normal 3-to-6 month budget planning process into just several hours at month’s end. Please view a PMI demo here.
Founded in 2000 and based in Norway with offices in Atlanta. d2o has won numerous international business awards for dramatic growth. Awards include the Deloitte Norway Technology Fast50 every year since 2007 and Deloitte EMEA Technology Fast500 in 2007 and 2008; the Gazelle Company award for fast growing, profitable Norwegian companies every year since 2006; the highest financial reliability rating of AAA from Dun & Bradstreet every year since 2005; and HSMAI Award for Service Company if the Year 2009 Clients include Hyatt, Benchmark Hospitality, Radisson, Best Western, Choice Hotels , Golden Tulip, Prince Resorts Hawaii, Rica Hotels and WORLDHOTELS. For more information on d2o, please visit www.d2o.biz or contact Scott Bunce at (970) 389-4187.
About Benchmark Hospitality International | Benchmark Hospitality International is a leader in the management and marketing of resorts, conference centers, hotels, and Personal Luxury Hotels™. The independent company, launched in 1980, is a founding member of the International Association of Conference Centers. Benchmark Hospitality is a worldwide organization operating properties in major metropolitan and resort destinations. Benchmark's international headquarters is located in The Woodlands, Texas, near Houston. The company’s northeast regional office is in New Jersey, with international offices in Tokyo, Japan, and Santiago, Chile.
Managing Director North America
Phone: +1 (970) 389-4187