Skip to main content

Home/ Hospitality Technology/ Group items tagged Hotel technology

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
dyaniroberts

Importance of Accounting in the Hospitality Industry - 0 views

studybayhelp.co.uk/...-accounting-in-the-hospitality

technology software business accounting

shared by dyaniroberts on 10 Feb 20 - No Cached
  • From an organizational viewpoint, the process of financial management is associated with financial planning and financial control.
  • Financial planning looks for to quantify various financial resources available and plan the scale and timing of expenditures.
  • Financial control refers to monitoring cashflow. Inflow is the money coming into a specific company, while outflow is a record of the expenditure being made by the company. Handling this activity of funds with regards to the budget is essential for a business.
  • ...11 more annotations...
  • The economic climate needs to provide the mechanism for professionals to easily trail performance from the budget, identify issues and quickly make adjustments, and create and use reports that will give them accurate financial status at any point in time
  • A proper accounting system is vital to any business whether big or small to be able to manage its daily functions and keep the businesses running efficiently.
  • Behind every successful business is a reasonable financial model.
  • hotel owners and professionals have the info they need to optimize performance in every operational area, from inventory and payroll to sales and marketing. They can reduce expenses, anticipate to accommodate guests during optimum business times, and scale back operations during sluggish periods.
  • the primary aim of the procedure of managing finances is to attain the various goals a company sets at a given point of time. Businesses also seek to create substantial amounts of profits
  • ust as essentially, there must be managers in place who are trained and in charge of meeting financial goals.
  • There are two broad types of accounting information: Financial Accounts: geared toward external users of accounting information and Management Accounts: aimed more at internal users of accounting information
  • Financial accounts summarize the performance of the business over a particular period and the situation at the end of that period.
  • The level of details required in these accounts displays how big is the business with smaller companies being required to prepare only quick accounts
  • Financial accounts concentrate on the business all together rather than analysing the component parts of the business. For example, sales are aggregated to give a amount for total sales rather than publish an in depth analysis of sales by product, market etc
  • Management accounts usually include a wide selection of non-financial information. For instance, management accounts often include examination of: Employees (number, costs, production etc. ), Sales volumes (units sold etc. ) and Customer ventures (e. g. variety of cell phone calls received into a call centre)
  • dyaniroberts on 10 Feb 20
     
    This article discusses the importance of accounting in the hospitality industry and how the data that is found is utilized in creating the budget that the property must follow. Companies hire managers and directors who are responsible in forecasting, and ensuring their respective departments meet the budgetary goals for the period / year.
anonymous

Multi-Location Businesses Can Triple Growth Rate with Localized Marketing According to ... - 0 views

www.martechadvisor.com/...esearch-from-soci-and-localogy

businesses research advisor triple growth rate marketing joint technology Tech travel hospitality solution mobile hotel software green business

shared by anonymous on 06 Apr 20 - No Cached
  • SAN DIEGO: SOCi, Inc., a centralized platform built specifically for "next-level" multi-location marketers, today released its annual Localized Marketing Benchmark Report, which revealed that an optimized localized marketing strategy can yield up to three times more business growth.
  • More than 250 multi-location brands were evaluated on their overall presence, ratings and reviews, and community engagement across the top three localized marketing platforms - Google My Business, Facebook, and Yelp. 
  • When executed effectively, localized marketing can help brands build and maintain an engaged base of loyal customers, propel their presence to the top of organic search results, and, ultimately, drive increased foot traffic and in-person sales.
  • ...9 more annotations...
  • As local search becomes more intelligent and personalized, the LMBR shows that a localized marketing strategy has become increasingly important when maximizing consumer interactions and reach
  • improved their average benchmark score 20% from 2019 to 2020
  • “The way that consumers are discovering new businesses or searching for information about businesses is changing, happening more on social media and search platforms, and with local intent,” said Monica Ho, CMO of SOCi.
  • Before engaging with a business or service, nearly all consumers (97%) conduct a local online search, with 78% of purchase decisions influenced by social content. What’s more, 85% of engagement is on local pages, underscoring how absolutely critical it is for businesses to optimize their digital presence on a local level. 
  • Additionally, based on this year’s benchmark scores, three industries stand out as those that are outperforming in localized marketing: fitness, education, and personal care services
  • the majority of their listings were claimed and completed, reviews and Q&As were responded to promptly, and pages on Google My Business, Facebook, and Yelp were consistent and comprehensive.  
  • “Brands must establish a sense of trust and authority through their digital presence to foster relationships with and create loyal customers,” said Bill Dinan, CEO of Localogy.
  • The LMBR also identifies the industries with the most opportunity to build upon and improve their local presence on key platforms: real estate, business services, and cleaning services.
  • As evidenced in SOCi’s recently released report The Rise of Localization for Multi-Location Marketers, ratings and reviews are the most impactful element in a business’s search and social ranking, with 75% of the top local search ranking factors based on a business’s reviews.  
  • anonymous on 06 Apr 20
     
    A perfect example of how proximity marketing can successfully build and maintain a loyal customer base and increase their foot traffic.
anonymous

COVID-19 & Employment: State & Local Laws - 0 views

www.natlawreview.com/...al-employment-law-developments

employment state local laws technology hospitality hotel software business Tech travel solution mobile green

shared by anonymous on 08 Apr 20 - No Cached
  • Although it is not possible to discuss all related state and local developments that have occurred, this update provides a brief overview of some of these developments to help you maintain compliance for your organization.
  • Over half of all states have issued this type of order. In addition, over 80 counties and more than 10 cities have issued their own orders, typically in the absence of a state order
  • Several of the orders also require that non-essential businesses cease operations at their physical locations, but do allow for minimum basic operations to continue such as the minimum necessary activities to
  • ...2 more annotations...
  • Maintain the value of the business’s inventory, preserve the condition of the business’s physical plant and equipment, ensure security, process payroll and employee benefits, or for related functions.
  • Facilitate employees of the business being able to continue to work remotely from their residences.
  • anonymous on 08 Apr 20
     
    With COVID-19 shutting down businesses across the world or at least taking their work remotely, businesses have left their equipment behind. However, under these restrictions, businesses are still allowed to maintain the condition of their physical plants and equipment.
yujushelly

Hyatt Transforms Global Finance & Accounting Ops with Digital Management Service - 0 views

hospitalitytechnology.edgl.com/...gital-Management-Service108263

Hospitality technology hotel accounting

shared by yujushelly on 05 Mar 17 - No Cached
  • yujushelly on 05 Mar 17
     
    Hyatt is expanding its finance and accounting (F&A) relationship with Genpact to transform Hyatt's financial operations in Europe, Africa, Middle East and Asia. As part of the multi-year engagement, Genpact will seek to globalize its business model for Hyatt's F&A organization that centralizes and standardizes processes for procure-to-pay, record-to-report, and order-to-cash operations.
  • mtorres619 on 06 Mar 17
     
    Multi year engagement is a pretty big deal! I think this is a great move on Hyatt!
marvahb

Pursuit selects Maestro web multi-property PMS for 15 properties totaling 1,400 rooms - 0 views

www.incentivetravel.co.uk/...roperties-totaling-1-400-rooms

pms properties rooms

shared by marvahb on 04 Jun 17 - No Cached
  • Maestro PMS is the preferred cloud and on-premise property management solution for independent hotels, resorts, conference centers, and multi-property groups.
  • marvahb on 04 Jun 17
     
    Maestro, a known on-premise and cloud PMS system has been selected by 15 lodging properties with more than 1400 rooms. Throughout the article, hoteliers who currently use Maestro, or have in the past, gave brief reviews regarding the efficiency and overall impact of the PMS.
sharene25

E-Commerce for the Tourism and Hospitality Industry - 0 views

www.linkedin.com/...urism-and-hospitality-industry

shared by sharene25 on 10 Sep 17 - No Cached
  • sharene25 on 10 Sep 17
     
    E-business(electronic business), is a term used to describe businesses run on the internet, or utilizing internet technologies to improve the productivity of a business. Today major corporations are rethinking their businesses in terms of the internet and it new culture and capabilities. Companies are using the web to buy goods and services for other companies to collaborate on sales promotions and to do joint research. Exploiting the convenience, availability and worldwide reach of the internet, many companies have discovered how to use the internet successfully. To make e-commerce work well constant development and improvement of adjoining functions is necessary.The online selling is the main growth area for the internet. Hotel e-commerce is important because it accelerates internet usage worldwide, it the lowest cost booking channel, most travelers research reservation on the internet and social media and online reviews are an increasingly important decision factor.
cvera019

The Effects of social media networks in the hospitality industry - viewcontent.cgi - 0 views

digitalscholarship.unlv.edu/...viewcontent.cgi

hospitality network IT

shared by cvera019 on 06 Sep 17 - No Cached
  • With the growing trend towards social media marketing, it is now reflected as an item in some marketing budgets. These individuals in hospitality should always keep in mind the benefits of social media. With the advancement of technology, social media is and will be very much part of our daily lives. Online marketing can take place in several social media platforms, and that should be taken into consideration for the marketing strategy of a hotel. Each hotel is different and must be treated accordingly, so a blend of social media tools such as Twitter, Facebook , YouTube and Corporate Blogs should be used if necessary. Social Media Networks Contribution According to Burson-Marsteller Fortune Global 100 Social Media Study 2010, majority of global companies adopt a minimum of one source related to social media platform. To a certain extent, 79% of the top 100 companies in the Fortune Global 500 index are found to be applying at least one social media platforms (as shown in Figure 1): Twitter, Facebook, YouTube or Corporate Blogs (Burson-Marsteller, 2010).
kdibe001

Should You Use HRIS for Employee Scheduling? - HRIS Payroll Software - 3 views

www.hrispayrollsoftware.com/hris-and-employee-scheduling

Technology Hospitality hotels software hris scheduling employees management

shared by kdibe001 on 23 Jul 17 - No Cached
  • Using HRIS for scheduling can be of particular benefit to workplaces in industries such as retail, medical, food service, and hospitality where shifts may vary widely.
  • HRIS can be configured to alert you to uncovered shifts or shifts where more coverage is needed based on forecasts.
  • It is not an exaggeration to say that employees base their lives around their work schedules. Having scheduling information in advance regularly can quickly and dramatically increase employee contentment.
  • ...2 more annotations...
  • Depending on the available features, employees may be able to submit feedback regarding preferences in regards to scheduling. Knowing which employees prefer the late shifts, which prefer the early morning shifts, and which employees would like to pick up available additional shifts can simultaneously make scheduling easier and make employees happier.
  • HRIS can help you to identify times when it may be possible to assign certain employees training tasks or simply take employees aside and teach them new skills.
  • kdibe001 on 23 Jul 17
     
    This article was great to read because it focuses on how HRIS can be beneficial for scheduling, which I previously haven't thought about. The part that stood out most to me was the fact that it can forecast future sales and rush hours so that it can assist you in making sure there are enough staff members scheduled to cover those extra busy hours. In turn, the employees will also be a little bit happier with their schedules because they are able to get them earlier, request days off, and switch with other staff. As the industry is moving into being dominated by Generation Y and Z employees, who want their jobs to work around their lives, I think this can really help the companies.
brenda981005

Oaky Provides Oracle Cloud and Opera Cloud Property Management System Customers with Au... - 0 views

www.hospitalitynet.org/...4101785.html

cloud computing hospitality technology

shared by brenda981005 on 13 Mar 21 - No Cached
  • brenda981005 on 13 Mar 21
     
    Oaky is a leading hotel sales tool and a member of the Oracle PartnerNetwork (OPN) to form the Oracle Cloud Marketplace. This is a good example of cloud computing. Oaky integrates with Oracle Cloud and provides many benefits for Oracle Cloud customers: such as tracking the availability of room upgrade inventory and services, and personalizing the transaction options and sending to various customer groups. The guest's automatic price increase email, etc.
angelopecorelli

Hilton Was Fined $700K for a Data Breach. Under GDPR It Would Be $420M | Digital Guardian - 0 views

digitalguardian.com/...ch-under-gdpr-it-would-be-420m

technology hospitality hotel Software business Tech

shared by angelopecorelli on 19 May 21 - No Cached
  • angelopecorelli on 19 May 21
     
    This article goes over the multiple lawsuits that Marriot had to face due to a massive cyberattack in 2015 where multiple credit card numbers were leaked. I think this is a perfect example of how cloud computing is not a bulletproof system at the moment and how it still has much room to grow. Similar cyberattacks happen all over the world some on a smaller scale and some on a larger one. I believe this is an article that everyone should read to truly understand the reproductions that a company can face if they don't have a strong cyber defense.
shanegmark

Princeton Professors Launch AI COVID Screening Tool | Hotel Business - 1 views

www.hotelbusiness.com/launch-ai-covid-screening-tool

COVID-19 AI Technology HR Customers

shared by shanegmark on 14 Jan 21 - No Cached
  • The CovidDeep app is 90%-plus accurate in predicting whether a person is virus-free or virus-positive, and is twice as effective as current triage tools, such as temperature checks and questionnaires, according to the developers.
  • “CovidDeep has been developed as a rapid screening tool to help businesses such as hospitality venues maintain a COVID-19 safe environment,” said Dr. Adel Laoui, CEO/founder, NeuTigers. “Currently, venues rely on screening tools such as temperature checks, which are only used to detect symptomatic cases and are less than 50% accurate in detecting whether a person has COVID-19.
  • Proven rigorous clinical studies show it to be 90% accurate in detecting if a person is SARS-CoV-2 virus positive, even if they have no symptoms (asymptomatic). It is able to do this at scale, in real-time and cost-effectively.”
  • shanegmark on 14 Jan 21
     
    New app uses AI and readily available body sensors to detect, with 90% accuracy claim the developers, whether a person is COVID-19 positive/negative. This is done within 2 minutes and compared with current temperature only checks done by many locations, which are only 50% accurate and don't capture asymptomatic persons, is a potential game changer for organizations. All staff could potentially be tested every day before their shift starts.
  • jlewinsky on 15 Jan 21
     
    I think this is a great tool for all businesses especially the hospitality industry. The fact that it is adaptable to work with many health products already owned by consumers the cost to the business is low. I also like the high percentage rate of accuracy and what little time it takes to gather this data.
alo328

Contactless Payments Are Becoming More Important Within Hospitality - 0 views

www.revfine.com/ntactless-payments-hospitality

shared by alo328 on 16 Jan 21 - No Cached
  • As the name suggests, this type of transaction enables users to avoid using cash or the physical implementation of credit cards. It instead relies upon wireless methods such as RFID technology.
  • the hospitality sector can benefit from these payment methods due to the fact that this system employs a host of unique encryption algorithms.
  • This also applies to duplicate transactions that are suspected of being fraudulent. Such points will undoubtedly provide your guests with an extra peace of mind during their stay. Contactless payments utilise an advanced form of wireless encryption, so the chances of data becoming lost or corrupted are virtually eliminated.
  • ...1 more annotation...
  • Points may be allocated to provide reduced room rates, discounts at an in-house restaurant and similar attractive offers that will enable your franchise or boutique property to stand out from the masses. Finally, it is important to mention that building a positive brand image in these critical times is key to long-term success.
  • alo328 on 16 Jan 21
     
    This article talks about how contactless payments are becoming more popular within the hospitality industry. These type of contactless payment options are giving guests the flexibility of payment options, resulting in faster and secure transactions. This in return, bring customer satisfaction. Nowadays, due to the pandemic, it is being widely used considering places like hotels, restaurants,etc...are encouraging this form of payment to limit actual contact and exposure.
anonymous

Here's Why You Should Upgrade to a Cloud PMS - 2 views

hoteltechreport.com/...why-cloud-pms

shared by anonymous on 26 Jan 21 - No Cached
  • anonymous on 26 Jan 21
     
    This article discusses the various benefits to upgrading to a cloud property management system. This is important because the current consumer is looking for more and more mobile-based features, and many Property Management Systems are not keeping up with the technology. Cloud PMS' are better equipped to be updated faster as the company hosts their own servers compared to a client-server which may have different or unsupported hardware for new features. So the hotel will always have the latest and greatest features from their provider. In addition, these systems are generally better designed for user experience and easier for the staff to learn on
leahesper

10 Ways to Prevent Fraud By Restaurant Employees - 0 views

www.revenuemanage.com/...ent-fraud-restaurant-employees

fraud restaurant employees technology hospitality hotel software business tech Travel solution mobile green

shared by leahesper on 16 Oct 19 - No Cached
  • Employee fraud should be a major concern to restaurant operators because it can significantly cut into revenue.
  • Quite simply, this is an issue that you can’t afford to ignore.There are two main areas where employees can inflict financial harm on a restaurant: they can steal product or they can steal money.
  • First, consider all of the areas that are at risk for fraudulent behavior.
  • ...9 more annotations...
  • Restaurant managers should have a good understanding of what is happening with transactions.
  • As you review transactions, look for unusual activity.
  • The next step is to investigate any patterns or irregularities you find.
  • At smaller chains, spot-check from each register to look for anomalies.
  • When employees know a fraud detection system is in place, the number of cases decreases.
  • Review your authorization process and revise as needed
  • Rolling out cashless payments can help reduce this problem.
  • Preventing and identifying fraud should be an everyday part of your financial management.
  • Lastly, keep in mind that restaurants with lower menu prices may be at risk for more theft.
  • leahesper on 16 Oct 19
     
    This article gives examples of cases in which fraud took place in the establishment and then gives ways you can identify employee fraud and take steps to prevent it!
tttiiinnnaaa1997

The Most Common Types of Restaurant Theft - 1 views

www.cornwelljackson.com/mmon-types-of-restaurant-theft

technology software hotel solution

shared by tttiiinnnaaa1997 on 17 Oct 19 - No Cached
  • tttiiinnnaaa1997 on 17 Oct 19
     
    In regards to restaurant theft of food or supplies, at your POS, in accounting processes, or of intellectual property, mitigating the risk of loss through theft is an ongoing challenge. Automation has improved security in transactions as well as back-office functions. But with top concerns in the restaurant industry being wholesale food costs and building and maintaining sales volume, the reduction of theft can improve those concerns for restauranteurs.
anonymous

Top Event Registration Software in 2019 | TrustRadius - 0 views

www.trustradius.com/event-registration

technology hospitality hotel pos event registration software

shared by anonymous on 06 Nov 19 - No Cached
  • anonymous on 06 Nov 19
     
    This article lists some of the top event registration software and lists pros and cons of both. Trust Radius compares products based on satisfaction ratings and research frequency.
angelicamm6

US7685025B2 - Web-based integrated event planning and management system and method - Go... - 0 views

patents.google.com/...en

technology hospitality hotel software event

shared by angelicamm6 on 07 Nov 19 - No Cached
  • The system and method of the invention enables an event planner or organizer (also known as a “client”) who wishes to organize an event to contact,
  • The process of planning an event thus requires the following steps carried out by the organizer of the event and individual vendors: 1. Organizer creates a plan 2. Organizer searches for vendors 3. Organizer contacts vendors 4. Vendors ask for organizer's requirements 5. Organizer provides information about event and his or her requirements 6. Vendors prepares and submits a proposal 7. Organizers repeats all the above again if he needs proposals from more vendors to compare 8. Organizer compares proposals received 9. Organizer negotiates with chosen Vendor 10. Vendors prepares contract/agreement 11. Organizer and vendor enter into contract 12. Organizer pays booking/signing amount to vendor for the event
  • U.S. Patent Publication No. 2002/0128934,
  • ...16 more annotations...
  • It is accordingly an objective of the invention to provide an event planning and management system and method that overcomes the disadvantages of traditional event planning methods by providing: hybrid management; integrated venue, food, entertainment, and transportation booking; dynamic contracting; and integrated payment.
  • 1. Organizer Searches for Vendors; 2. Organizer compares and selects Vendors; 3. Organizer Selects one of the available Packages or creates/builds a package; 4. Organizer Provides information about event and makes a BOOKING REQUEST; 5. Vendor provides final quote and confirms availability, Or Vendors Re ask for additional information and repeats all of the above; 6. Organizer compares proposals received from other vendors contacted in same way; 7. Organizer confirms one of these and makes deposit to confirm booking Or ask for additional information and repeats all the above again. The option in step 3 of creating or building a package based on lists of specific items (such as dishes or menu items) offered by the vendor, rather than merely selecting between a limited number of available packages, offers a particularly attractive and powerful event planning tool that is unlike anything currently available.
  • BRIEF DESCRIPTION OF THE DRAWINGS FIG. 1 is a block diagram of a system according to a preferred embodiment of the invention. FIGS. 2-33 are screen shots illustrating the manner in which vendors are enabled to customize offerings to clients. FIGS. 34-47 are flowcharts summarizing vendor and customer side processes for implementing the invention. FIG. 48 is a screen shot of a menu creating page that enables a customer to create custom catering packages by selecting individual menu items.
  • To send a Booking Request for any service, a few details about the event and venue are required like
  • Among the search results, they can click on any of the links available to view the venue profile which has details like
  • Upon obtaining the search results, the customer can click on any of the links available to view the catering company profile, which has details like:
  • To send a Booking Request for any service a few details about the event and food preferences are required such as:
  • Upon receiving the search results, the customer can click on any of the links available to view the entertainer profile, which has details like:
  • To send a Booking Request for any service a few details about the event and venue are required such as:
  • To send an entertainer Booking Request, some additional details may be required such as:
  • After receiving the search results, the customer can click on any of the links available to view the Limo profile which has details like
  • As indicated above, to send a Booking Request for any service a few details about the event and venue are required such as:
  • In addition, to send a Limo Booking request, some additional details that may be required include:
  • Step One of Three
  • Step Two of Three
  • Step Two of Three
  • angelicamm6 on 07 Nov 19
     
    Web based system to create any type of event and be able to book and organize any amenity needed for the event. Complete customization of event can be done and all legal and binging documents can be added in order to be followed and agreeded on.
aguar024

6 Event Trends You Need to Know for 2019 | ITA Group - 0 views

www.itagroup.com/...event-trends-2019

security event technology hotel software solution tech business hospitality mobile

shared by aguar024 on 11 Nov 19 - No Cached
  • ways to engage attendees differently and encourage innovation and creativity
  • A great way to start is by changing up the facilitation or presentation style
  • some unexpected venues
  • ...10 more annotations...
  • Private lofts and businesses are starting to rent areas that would previously have been off-limits, which makes attendees feel like they’re getting exclusive access.
  • he popularity of eSports events is influencing event connections.
  • Create policies outlining inappropriate behavior,
  • se of voice and facial recognition will increase and will improve overall experience and engagement.
  • dding areas or just time where attendees can unplug from the event and allow them to process what is happening and reconnect, allows them to come back energized and engaged.
  • Many companies’ risk management plans cover terrorism and communicable illness, but more than ever, tech security and sexual harassment policies need to be included as well
  • 61% say they go to live events and tournaments to connect with friends they’ve met and play with online, and 41% said they attend to forge new relationships.
  • hannels to report issues, and protocol for staff on how to deal with allegations.
  • With the increase in vegan and healthier diets, there is an influx in looking for new ways of clean eating.
  • increase their sustainable operations.
  • aguar024 on 11 Nov 19
     
    In this article the writer mentions different trends and solutions to common situations on the event industry. From sustainability all the way to methodologies to avoid sexual harassment.
« First ‹ Previous 2221 - 2240 of 2270 Next › Last »
Showing 20▼ items per page