Enable Better Decisions with a Hotel ERP System
Is your current hotel ERP system providing the data needed to make strategic decisions in real time? If you're struggling to achieve the financial visibility your hospitality business requires to grow successfully, it may be time to consider a change.
It's time to leave behind the old ways of aggregating, analyzing, and consolidating your financial data and move to intelligent systems providing real-time information to enable data-driven decisions. Read on to see how hospitality companies just like yours are saving time and making better decisions with Sage Intacct cloud accounting software.
All your data in one place
If you're like a lot of companies, you spend too many hours per month collecting and consolidating the financial data needed to complete your monthly close process. How many workbooks and spreadsheets does your team use to generate monthly reporting? Sage Intacct is different: you connect your disparate data sources once using easy integrations (connected with clicks, not complex code, which means you don’t need IT help to get it done!) The result is a single source of data for all your financial and operational data to enable dynamic reporting you can generate on the fly.
Behind the scenes, Sage Intacct is continuously consolidating your data, including any number of multiple currencies into a base currency you configure. Because of this continuous consolidation, you can run reports any time. No more having to wait until the month ends to run mission-critical reports for your decision makers. As well, it's easy to see trends and insights in Intacct that wouldn’t be as obvious across an endless array of Excel spreadsheets or inside QuickBooks.
Get deeper financial visibility with dimensions
Hospitality companies that use Sage Intacct enjoy a simplified chart of accounts. In Sage Intacct, it's easy to tag your transactions with dimensions such as location, program, or department. These dimensions enable your users to filter, group, and organize the data they need. Here are some examples of the 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
Dimension-based reporting enables data-driven decisions
You’ll get much richer, deeper, visual reports in Sage Intacct than Excel while also getting the big picture view. With Sage Intacct, you’ll automatically see if your metrics fall within your preferred, pre-defined range with color coding. You can easily spot trends with miniature line graphs. And using the interactive report writer, you just 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 quickly 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.
- Full drill-down capability makes it easy for users and auditors to see the underlying data all the way to the transactions behind the reports.
You can improve visibility and facilitate better, faster, data-driven decisions with the only AICPA-endorsed hotel management software, Sage Intacct. See how the power of dimensional reporting can make your job easier and support your organization’s growth.
Contact Equation Technologies to learn how Sage Intacct helps streamline business processes.
Another version of this blog was posted on June 21, 2019 - Hotel Management System: Increase Strategic Visibility.