Hotel Management System: Increase Strategic Visibility

Posted by Erica Burles on Jun 21, 2019, 4:13:42 PM

Strategic financial visibility can enable your business to grow successfully, take advantage of timely opportunities, and save operational costs. Is your current hotel management system capable of providing the data necessary to make the critical decisions your organization needs to make in real time?

New call-to-actionThe old ways of compiling, analyzing, and consolidating your financial data have been replaced by intelligent systems providing relevant data in real time to facilitate your most critical budget planning and strategic decisions. See how hospitality companies just like yours are gaining more insight, saving time, and making better decisions with Sage Intacct cloud accounting software.

All your data, all in one place
How many hours per month does your company spend compiling and consolidating the financial data you need to complete your monthly close process? How many workbooks and spreadsheets do you rely on to provide monthly reporting to your decision makers? With Sage Intacct, you connect your disparate data sources using easy-to-use APIs (which means you don’t need IT help to get it done!) Now you have a single data source for all your financial as well as operational data to enable more dynamic reporting.

Sage Intacct continuously consolidates your data, including any number of multiple currencies into a base currency you select. Because of this continuous consolidation, you can run reports any time. No more waiting until the month or period ends to run mission-critical reports for your decision makers. Also, you can easily see trends and insights in Intacct that wouldn’t be as obvious across a number of Excel spreadsheets or inside QuickBooks.

Deeper financial visibility using dimensions
Is your chart of accounts overflowing with “reporting” accounts to facilitate that complex web of workbooks in Excel for your financial reports? Hospitality companies on Sage Intacct have simplified their chart of accounts and now tag their transactions with dimensions such as location, program, or department. Users can then filter, group, and organize the data they need. Here are just a few examples of the types of views you can easily build in Sage Intacct with just a few clicks:

  • Revenue by location, service type, or event
  • Rounds of golf per day
  • Guests per hotel per weekend
  • Number of covers by restaurant by month

Dimensional reporting drives data-driven decisions
You’ll get much richer, deeper, visual reports in Sage Intacct than Excel while also seeing the big picture at a glance. With Sage Intacct, you’ll automatically see if your metrics fall within a pre-defined range with color coding. Or easily spot trends with miniature line graphs. Using an interactive report writer, you simply drag and drop the real-time operational and financial data you want into your dashboard, then apply any combination of conditional formatting, grouping, functions, logic, rolling sums, and pivot tables. Here’s how the power of dimension-driven reporting has benefitted a growing golf course:

  • Saved money by hiring a full-time landscape team compared to what they were currently paying for the vendor for part-time maintenance.
  • Understood profitability of individual projects or golf tournaments by easily building flash reports and dashboards to monitor operating income, actuals to budget, and other industry-specific insights unique to your business.

And with full drill-down capability, users and auditors can easily see all the underlying data all the way down to the transaction driving the reports.

It is possible to improve visibility and facilitate better, faster, data-driven decisions with the only AICPA-endorsed cloud financial software, Sage Intacct. See how the power of dimensional reporting can support your organization’s strategic growth.

Contact us if you have questions about business care or need personalized support from our team of Sage Intacct technical experts.

Please find related content below:

Topics: Hospitality Software, Sage Intacct

Submit a Comment

Need Help Now?

Request a Call