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ryanrodgers2014

Hospitality business intelligence | AltexSoft - 4 views

www.altexsoft.com/...pitality-business-intelligence

shared by ryanrodgers2014 on 30 Aug 20 - No Cached
  • Data analytics is one of the key directions for digital transformation in various industries, travel included. And hospitality is no exception: The hotel industry, by its nature, operates large amounts of data. The sources range from inventory to distribution channels, from customer behavior data to housekeeping records. As business grows, these become impossible to analyze and keep track of manually or by using spreadsheets.
  • Business intelligence systems take charge of extracting data from various sources, transforming it, collecting it in a centralized repository, and finally querying this repository to present data as meaningful charts and diagrams for humans to put to use.
    • ryanrodgers2014
      ryanrodgers2014 on 30 Aug 20
       
      Business intelligence (BI) software is a useful tool that allows hotels to be more effective in gathering data and utilizing the information appropriately to optimize their revenue while operating in a highly competitive market. BI exist to help us collect information from multiple sources and to transform the information into a meaningful way to better understand data. Business Intelligence also provides a competitive advantage by giving us a clearer view of what is going on internally and externally, and allows us to forecast more accurately demand, property level expenses, and overall annual yields. This article reviews the specifics of hotel data sources, the advantages of using BI software in the hospitality industry as well as defines some of the barriers the hospitality industry faces in using Business Intelligence software. Though the advantages of BI can provide us with an abundance of data sources and information by associating customer segmentation via POS/PMS systems to channels distribution sources it also can be a struggle to integrate with your own data platforms.
cingram21

How Artificial Intelligence Is Changing the Future of Digital Marketing - Business 2 Co... - 0 views

www.business2community.com/...-of-digital-marketing-02432101

shared by cingram21 on 03 Oct 21 - No Cached
  • Artificial Intelligence (AI) can think, read, and react almost like humans when trained with a large enough data set.
    • cingram21
      cingram21 on 03 Oct 21
       
      This provides some insight into artificual intelligence with a primary focus on developments in digital marketing. I especially found this helpful because it discusses analyzing large amounts of data that we as humans cannot make fair and unbiased decisions on. This is similar to the revenue management systems in use today. It also discusses the role fo chatbots in marketing. The article also ends with a few case studies.
  • Menial and redundant tasks like data entry, segregating leads from a marketing campaign, and responding to FAQs by customers can be easily handed over to chatbots and AI.
  • a machine learning model estimating the likelihood that a customer will churn can uncover factors driving churn rates and enable decision-makers to change business strategies and processes.
  • ...8 more annotations...
  • By analyzing data, AI can easily predict the purchasing behavior and decision-making of target customers, improve user experience, and provide customers with what they really need.
  • AI is unlocking the potential of hyper-personalization through personalized product recommendations, intelligent content recommendations, and customer support suggestions.
  • According to a recent survey, 71% of marketing respondents say that brands do not understand consumer fundamentals. Therefore, 66% of marketers said they want brands to invest more to build customer awareness and relationships.
  • You no longer need to invest your time into menial tasks like responding to repetitive queries or FAQs to market yourself and your business because AI assistants like AmazonEcho can do it for you.
  • From purchase to flight booking, to giving you necessary recommendations and even financial management.
  • Product recommendation utilizes technology to create personalized content recommendations for users, such as people who buy X also buy Y.
  • Machine learning and auto-learning analyze the data of millions of consumers and generate the best time and day of the week to contact users, recommended frequency, and the most intriguing content in the subject and title of the email, which will lead to more clicks of the mail. The A / B test is time-consuming and may have some errors. So, in this sense, AI is your best friend in personalizing each subscriber’s email content.
  • By 2021, 75% of enterprises will use AI for their businesses.
Chris Cardoso

Hotel firm upgrades accounting system - 0 views

www.hotelnewsresource.com/article73028.html

shared by Chris Cardoso on 24 Sep 13 - No Cached
  • LBA Hospitality Partners with M3 Accounting + Analytics to Enhance Accounting Processes and Increase Efficiencies July, 31 2013 M3 Accounting + Analytics Seeking to update and streamline accounting processes for its 70-plus Southeast properties, Dothan, Ala.-based Larry Blumberg & Associates, Inc. (LBA Hospitality) recently announced an expanded partnership with M3 Accounting + Analytics, the national leader in hotel-specific accounting software, operations reporting, and business analytics. “If we are to continue to be an industry leader, we must have the ability to meet the requirements of our stakeholders and provide accurate, real-time and relevant information for our management team and owners,” said LBA President Beau Benton.  LBA sought the ability to swiftly handle budgets, forecasts, and reports, and to dissect business data, all while insuring that the back-office accounting platform functionality was state-of-the-art and industry-specific.  In choosing M3, Benton cited how the company integrates accounting, business intelligence, and reporting, while eliminating most redundancy, software investment and annual hardware/software maintenance. In addition, Benton and LBA were looking for continual and automatic upgrades, backup and disaster protection, and minimized downtime.  LBA is implementing the full suite of M3 products: accounting through the AccKnowledge platform, time, attendance and labor management through the newly released RightTime solution and LaborWatch, and payroll services through RightPay. The company will also continue to use M3 Link business intelligence reporting, as LBA will be expanding it to bring financial data, operating stats, Smith Travel feeds and guest satisfaction data (including verbatim responses) into one completely customizable dashboard. LBA, which launched its business by developing a Sheraton Inn in 1973, is rapidly growing its management business and securing more and more agreements from sophisticated owners and investors.   Scott Watson, M3 Vice President of Sales & Marketing, said, “While our core product remains our accounting solution, we’ve continued to evolve and offer new products and services that meet the current and future needs of the hospitality industry. It is truly exciting that our product platform will help Beau and LBA achieve the aggressive growth they are anticipating over the next five years.”  The implementation and training process for all LBA properties is expected to be complete by December 1.  About LBA Hospitality Based in Dothan, Ala., LBA Hospitality is a hospitality management company focused on maximizing return, safeguarding assets and enhancing value. Founded in 1973, the company now manages 70 properties throughout the Southeast, from Texas to Virginia. More information is available at http://www.LBAHospitality.com.  About M3 Accounting + Analytics M3 is the national leader in hotel-specific accounting software, operations reporting, business intelligence and analytics, processing more than $8 billion in financial transactions for more than 3,000 properties. M3’s integrated suite of hospitality accounting products includes: AccKnowledge, Link, payroll and labor management services, and document imaging and retrieval – all designed to help provide hotel operators, owners and managers unsurpassed access to the information they need in the most integrated and cost-effective manner. The company was founded in Gainesville, Ga. in 1998, and also has a base of operations in Tampa, Fla. More information is available at www.M3AS.com. 
  • “If we are to continue to be an industry leader, we must have the ability to meet the requirements of our stakeholders and provide accurate, real-time and relevant information for our management team and owners,” said LBA President Beau Benton.  
  • continue to be an industry leader, we must have the ability to meet the requirements of our stakeholders and provide accurate, real-time and relevant information for our management team and owners,” said LBA President Beau Benton.  
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  • “If we are to continue to be an industry leader, we must have the ability to meet the requirements of our stakeholders and provide accurate, real-time and relevant information for our management team and owners,” said LBA President Beau Benton
  • Michaela Gave on 24 Sep 13
     
    LBA Hospitality Partners with M3 Accounting plus Analytics to enhance accounting processes and increase efficiencies." As an industry leader LBA's Presidents feels they need to ability to meet requirements of their stakeholders and provide accurate real-time information for management and owners. When choosing M3 LBA's president noted how the company integrated accounting, business intelligence, and reporting while removing redundancy, software investment and annual hardware/software maintenance. Part of the requirements for choosing a company was continuous automatic upgrades, backup, disaster protection and limited downtime. LBA chose to implement a full suite of M3 products: Accounting through the AccKnowlege platform, time, attendance and labor management through RightTime solution and LaborWatch and payroll through RightPay. LBA will be expanding to bring financial data, operating costs, Smith Travel feeds and guest satisfaction data in one customized dashboard using M3 Link business intelligence reporting. LBA continues to grow after developing the Sheraton in 1973. Scott Watson of M3d is happy that M3 can meet the needs of their customers even though their core product is accounting solutions. They continues to help companies as they grow. Through this partnership they hope to continue to grow as meet the needs of their guest, investors and team. While it is important to have a core product to offer, I think it's also important to have additional products that meet the needs of your customer much like S. Watson said about M3 continuing to evolve and meet the needs of the hospitality industry. I feel this would make the company more marketing. It looks as if the President of LBA reviewed what the company's needs were and then chose to partner who leads the company in hotel specific accounting software. The president recognized the need to be able to report numbers accurately and forecast real data to its team, owners and investors. When I m
  • Chris Cardoso on 21 Oct 13
     
    The Larry Blumberg & Associates hospitality firm (LBA Hospitality) partnered with a management company, M3 Accounting & Analytics, to integrate new software in it's 70 properties throughout the southwest, fro Texas to Virginia. The services that will be provided by M3 will range from Accounts Payable, to General Ledger, Daily Sales Report, Labor Cost, Check Writing, Cash Management, Forecast, Budget, etc. M3 provides products and services that will continue to evolve and improve to be cutting edge in hospitality. LBA is using M3 to streamline an aggressive five year growth plan. Other hospitality business will begin to incorporate a service provider that can encompass all accounting needs.
mellakygg

Cloud Computing Is Crucial To The Future Of Our Societies -- Here's Why - 0 views

www.forbes.com/...of-tomorrows-intelligent-world

cloud computing cloud

shared by mellakygg on 20 Jan 19 - No Cached
  • Cloud will provide the digital infrastructure of tomorrow’s cities, where an estimated 6 billion of the world’s population will live by 2045. Smart elevators and parking lots, driverless cars and drone taxis, trains and subways, farms and power plants -- all will be safer and better managed, thanks to the cloud’s ability to store and analyze data.
  • The cloud will also be transformative for companies, especially small and mid-sized businesses, as data analytics, artificial intelligence and other capabilities become available as services.
  • A utilities cloud will automatically repair faults in the power grid to ensure that homes and businesses get the electricity they need.
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  • A commercial aviation cloud will help airlines manage ground operations such as maintenance, fueling, baggage handling, and cabin cleaning, thereby increasing efficiency and helping flights take off on time.
  • A banking cloud will let financial institutions scan thousands of transactions per second to prevent fraud.
  • The cloud will also help society cope with growing volumes of data. This includes applications like high-definition video, which Huawei estimates will account for 89% of individual user traffic by 2025.
  • The cloud will support emerging technologies such as artificial intelligence and help them to adapt to new platforms such as mobile. When smartphone sales overtook sales of PCs in 2011, mobile became the world’s largest computing platform. Naturally, AI has made its way into phones.
  • Because inference needs to process data in real time, all the time, even tomorrow’s super-advanced smartphones won’t be able to meet the computing demands imposed by AI. They’ll have to rely on the processing power of the cloud.
  • In particular, video will feature prominently in tomorrow’s vehicles, providing in-car entertainment, enhancing road safety by allowing drivers to “see through” other vehicles, and making cars more secure. To thwart burglars, vandals and car thieves, many cars now have multiple security cameras. Video footage can be stored on a secure digital card inside the car or beamed up to the cloud.
  • mellakygg on 20 Jan 19
     
    The cloud will provide the digital infrastructure for the cities of tomorrow, where an estimated 6 billion of the world's population will live by 2045. A commercial aviation cloud will help airlines. A utilities cloud will automatically repair faults in the power grid to ensure a smooth supply of power to homes and businesses. A banking cloud will scan thousands of transactions per second to prevent fraud. The cloud will help society cope with growing volumes of data. High definition video will account for 89% of individual user traffic by 2025, of which image and video content will be for non-entertainment purposes. The cloud will support the emerging artificial intelligence technologies which will be adapted to mobile use, notably the cell phones which overlook PC sales in 2011. Although driverless cars are still a ways off, it will be realized soon, thanks to the power of the cloud.
lismarycedeno1

Adjara Group Selects Cendyn to Power CRM Across Their Hotels - 0 views

www.hotelnewsresource.com/article107206.html

group power crm hotels

shared by lismarycedeno1 on 27 Sep 19 - No Cached
  • Adjara Group has signed a deal with Cendyn to power CRM across all their hotels located in Georgia.
  • the company’s hotels will benefit from a guest intelligence solution that utilizes data collected from multiple sources, to provide an accurate, single source of truth for each guest.
  • enable each hotel within the Group to learn more about their guests using enhanced guest profiles, automation, segmentation, and in-depth reporting dashboards.
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  • , Adjara Group converted an abandoned Soviet-era sanatorium in the mountainous region of Kazbegi into the first Georgian lifestyle brand of Rooms Hotels.
  • the company has created and manages 6 hotels and is leading a large-scale agricultural development project in Eastern Georgia.
  • Cendyn’s eInsight CRM provides marketing automation and guest intelligence and can easily handle complex interfaces, drive loyalty and leverage real-time data to provide personalized one-to-one communications for every guest.
  • sits on top of a hotel’s property management system or call center application, intelligently guiding staff to create authentic, meaningful encounters and upsell offerings based on guest history, preferences and loyalty status.
  • lismarycedeno1 on 27 Sep 19
     
    Adjara Group has signed a deal with Cendyn to power CRM across all of their hotels in Georgia which will help them utilize data collected from multiple sources to provide an accurate, single source of truth of each guest. Cendyn is a tool used to provide marketing automation and guest intelligence sitting on top of a hotel's property management system or call center application.
lclar060

New Technologies Will Revolutionize The Hospitality Industry - 1 views

www.forbes.com/...onize-the-hospitality-industry

technology hospitality hotel software Tech solution travel

shared by lclar060 on 17 Sep 18 - No Cached
  • In fact, Gartner believes that artificial intelligence (AI) will create 2.3 million jobs in 2020 while only eliminating 1.8 million, for a net gain of half a million jobs added to American company payrolls.
  • Inevitably, the course of every industry will continue to evolve, incorporate and need more technology to be successful
  • Only very recently have voice and natural language processing technologies advanced enough to truly interpret questions
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  • Humans in the hospitality industry won’t be fully replaced, though.
  • While augmented reality (AR) has yet to become a prominent feature of most businesses, consumers should expect to see more adoption within the hospitality industry in the next few years
  • Restaurants are also taking advantage of AR promotions
  • In a hospitality context, we’re getting closer to seamless processes where consumers can authenticate a purchase without a phone or wallet, digital or otherwise.
  • Some hotel chains like Wyndham Grand have offered promotions to guests willing to give up their devices and go “off the grid” during their stay.
  • Technology is no match for the warmth and personality of the maitre D's welcome
  • miamigol on 17 Sep 18
     
    This article is about AI (Artificial Intelligence) and its impact in the hospitality industry. Although innovations in voice recognition, biometrics, and AR (augmented reality) are not expected to replace human contact, AI technology will revolutionize the industry by taking over mundane, simple, and routine work. Since these ordinary tasks could be time consuming, AI will allow hospitality personnel to focus on more meaningful and complex transactions. AR, for instance, was already implemented by Holiday Inn during the 2012 Olympics to provide realistic thematic and virtual representations. Biometric technology allows customers to authenticate their purchase without a wallet or human interaction. Nevertheless, the article also touches on an interesting concept called 'tech detox.' Some hotels already have promotions for guests willing to stay disconnected in order to be aware of their surrounding environment. In my opinion, AR is the best innovation, especially in a hotel. From TV programming, internet access, interactive city maps, hotel information, restaurant menu, and room service, this technology has endless opportunities to make any hotel experience unique.
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  • lazarobenitez on 16 Oct 18
     
    This article talks about the evolution of IT sector and how this has positively impact the hospitality industry. It brings examples like retail stores where we went from simple cash register to the use of AI in recent times.
  • avila031 on 18 Nov 18
     
    Forbes articles are infamous for discussing some of the most relevant topics, and this one discussing the technological advancements in the hospitality industry is no different. The article mentions currently growing forms of technology that are already being used as well as possible future technologies that might begin to be used. For example, Speak-to-order is disussed as a technology many customers are already using via their phones with siri or in their homes with alexa and the potential for a voice controlled intelligent system is discussed as a virtual assistant possibility in the industry. Not many businesses are using something like this yet, but it might be something implemented in the future. The article also provides information on how new technology could possible effect people and job cut backs. I was intrigued to read their estimate that Artificial intelligence would actually create 2.3 million jobs and only cut away 1.8 no longer necessary positions. Numbers like this give hope to many people that fear the implementation of technology for fear of losing their jobs. In closing, the article aims to remind readers that no amount of technology or innovation will ever be able to replace the service industry completely, people will always enjoy human interaction.
  • ayenkiah on 07 Sep 19
     
    Technology has evolved over the years to a point where we rely on artificial intelligence to assist with our daily tasks. Examples of this would Amazon's Alexa or Siri. It is not surprise, that the hospitality industry will not shy away from this technology, but rather infuse this technology on within our operations. One would think that having technology to take our restaurant orders would replace hospitality professionals, but it actually would do the complete opposite. With the implementation of this technology, those working in the industry would have more time and opportunities to spend with guest and enhance their experience.
  • anonymous on 08 Sep 19
     
    Technology has become a must-have part of hospitality industry. It helps serve guests faster and more efficient. Data of guests regarding to their special wants and needs is saved into the system will create customized service for guest. However, technology cannot replace people because we're in service industry. It always requires human interaction, that's why it's called hospitality. Technology can be used as a powerful tool to make our job better and easier.
  • dskomorowsky on 09 Sep 19
     
    I believe the article glosses over many of the potential implications of AI in the industry. For one, to date, technology advances have actually increased the workload of the more highly skilled management personel. A General Manager in a hotel now has to have degrees of knowledge in pricing system logic and demand economics, knowledge of systems and system implementation and the skill sets of individuals required to implement and sustain these systems. As AI and AI logic does begin to invade the Hospitality Industry, it is going to require our leaders to become far more cognizant of the uses, and maintenance costs involved in these technologies. This is not to say that this is necessarily a negative, however the implications for the skills sets required in the industry are a necessary talking point when citing that this technology wont replace jobs. Those mundane tasks which the article refers to are deemed as simple processes, but when discussing the already complex process of an agent reserving a guest in a Forbes rated property (as an example), this is going to get even more complicated in how we leverage these technologies, how we approach to market with the consumer.
  • lclar060 on 11 Apr 20
     
    Technology is continuing to revolutionize daily. All industries are experiencing such change but the hospitality industry will not completely take away is human employees. In fact, tech revolution will simply take away from mundane tasks simultaneously assisting with efficiency and customer satisfaction. With the advent of augmented reality (AR) guests are now able to electronically visualize themselves at the location. Technology cannot outperformance the warmth of guest service reps. yet, the future of hospitality will integrate both the advances of electronics and human interactions.
jlewinsky

IHG uses artificial intelligence to reduce food waste - Business Traveller - 0 views

www.businesstraveller.com/...echnology-to-reduce-food-waste

AI food hospitality

shared by jlewinsky on 02 Feb 21 - No Cached
  • AI technology to reduce food waste at selected properties.
  • The Winnow Vision AI technology uses intelligent cameras, smart scales and meters to analyse ingredients used during food preparation, as well as plates returned to the kitchen, to assess which food items are most wasted and in what quantities.
  • The group says that the technology will help its hotels achieve a 30 per cent reduction in food waste,
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  • the Intercontinental Fujairah Resort, which has been able to reduce food waste by over 50 per cent using the technology, a
  • jlewinsky on 02 Feb 21
     
    This article describes how the Intercontinental Hotel Group is using artificial intelligence to reduce food waste. This technology uses smart scales, meters and cameras during food preparation.
rroll027

5 Trends to Watch in Computer Networking - 0 views

www.lifewire.com/ds-computer-networking-4108007

shared by rroll027 on 20 Jan 20 - No Cached
  • consumers increasingly buy digital licenses and download (or stream) their content over the internet.
  • he difficulty faced by service providers (including Google) in expanding residential fiber optic cable internet service due to installation costs and increased competition from other broadband providers.
  • Some fear the privacy risks that accompany IoT.
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  • With inside access to a person's home and their health or other personal data, these devices provide an attractive target for online attackers.
  • Digital fatigue also threatens to dampen interest in IoT
  • IPv6 will one day replace the traditional Internet Protocol addressing system we are familiar with (called IPv4
  • By expanding the available IP address space to accommodate an almost unlimited number of devices, managing subscriber accounts becomes easier for Internet providers.
  • Look for the prices to come down in the next year as vendor competition increases.
  • Things (IoT) gateway support will prove more interesting to the average consumer. Eventually, home gateways that combine Wi-Fi together with 4G or 5G connectivity options could also become very popular
  • telligence. When world-renowned scientist Steven Hawking (in late 2014) said "The development of full artificial intelligence could spell the end of the human race,
  • One key barrier to more general-purpose artificial intelligence has been the limits on the ability of AI systems to communicate and interact with the outside world
  • rroll027 on 20 Jan 20
     
    Newer trends in computer technology bring increased vulnerabilities in security and privacy. Wearables will extend from wristwatches to eyeglasses, headphones, kitchen gadgets, energy-efficient furnishings, to home equipment Bluetooth systems. As vendor competition increases, prices will decrease and artificial intelligence development will accelerate.
nellyvero71

Research Proves the Benefits of Getting Ahead of the AI Curve - 0 views

www.marketingaiinstitute.com/...-getting-ahead-of-the-ai-curve

shared by nellyvero71 on 09 Jul 20 - No Cached
  • As marketers, we see it everywhere: Affixed to the claims of the latest marketing tech, alongside warnings that it will eradicate jobs like content production, and peppered into predictions of coming trends.
  • “the next big thing.” In this case, they either become numb to mention of AI because it’s usually not actionable or approachable, or they’re disillusioned because it’s just a catchy term for tools that aren’t really AI.
  • At the Marketing Artificial Intelligence Institute, we’ve talked for a long time about the importance of AI, and more recently, about the massive impact of early adoption on an organization’s ability to get ahead.
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  • Early AI adopters, or AI “Pioneers,” are actively “establishing positions in both customer and labor markets that may make it hard for others to draft off of their hard work. The many advantages reported by Pioneers suggest that early AI movers may be especially hard to catch.”
  • That caliber of competitive advantage is hard to ignore. And research is continually proving the benefits of getting ahead of the AI curve.
  • AI can deliver true value to the serious adopters—vast improvements in day-to-day business functions, higher profit margins, and a widening performance gap. 
  • the companies that moved past the uncertainty and seriously invested in AI saw real results.
  • Those who combined an already strong digital foundation with proactive strategies saw massive increases in profit margin, and the performance gap between them and the AI laggards will continue to grow.
  • Not only are they set up for success as AI continues to take off, they aren’t implementing to save on business expenses. Instead, early AI adopters focused on increasing revenue and market share—the cost reduction potential comes secondarily.
  • Many organizations are taking a “wait and see” approach, but the need to act is urgent. Going from a theoretical understanding of what's possible with AI to understanding the actual use cases for your business is difficult—but essential.
  • But you and your organization have the opportunity now to be proactive in advancing knowledge and capabilities before your competitors beat you to it.
  • nellyvero71 on 09 Jul 20
     
    The article talks about the companies that are implementing Artificial Intelligence in their business and in the market. The benefits of to be the pioneers of having this technology.
tredunbar

Employee Theft at the POS: What Are You Missing? - 0 views

www.marchnetworks.com/...yee-theft-what-are-you-missing

shared by tredunbar on 19 Oct 20 - No Cached
  • According to the National Restaurant Association, the employee turnover rate in the restaurant sector was 72.9% in 2016, significantly higher than the average turnover rate for private sector workers of just over 46%
  • as much as 75% of all shrink in the restaurant sector is attributed to employee theft
  • many different kinds of employee theft – stealing food, abusing discounts, or giving extras to friends and family
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  • these cases can be traced back to the point-of-sale (POS).
  • integrating your video surveillance with your POS data, and using the right kind of intelligent software application
  • the highest losses occur when employees steal small amounts over a long period of time
  • (29%) of internal theft cases in the U.S went undetected for almost five years
  • when it comes to employee theft, rapid detection is a business’s best defense against damaging losses
  • Manipulating voids and refunds
  • intelligent software solution with integrated video/POS data can alert you to suspicious transactions on the day they occur
  • Intelligent software can also be configured to look at the total number of voids and refunds each day, and each week, at each location
  • Sweet-hearting and discount abuse
  • Integrated video/POS data can alert you to this type of activity because it records every discount, including which employee was at the POS, and what type of discount they entered.
  • Food theft
  • intelligent video solution can help you more easily pinpoint inventory losses
  • tredunbar on 19 Oct 20
     
    This article addresses a very sensible accounting tool that can be used to eliminate theft of all types. Integrating video with POS systems is an effective way to see if discounts are being abused, if voids re unnecessarily being done and also to serve as a check and balance on food inventory levels.
zihanwang

Hotel Accounting: Three Trends on the Horizon | Hospitality Technology - 0 views

hospitalitytech.com/ccounting-three-trends-horizon

accounting hospitality trends technology

shared by zihanwang on 15 Oct 19 - No Cached
  • the behind-the-scenes services and solutions that power the guest experience are evolving just as quickly
  • M3, a cloud-based financial platform for the hospitality industry, recently hosted hundreds of hospitality accounting professionals from across the globe at its biannual Partners’ Meeting. The event allowed hoteliers to see first-hand how quickly the industry is evolving to help solve real-world issues facing today’s hoteliers.
  • Customized technology that allows properties to work more efficiently in a way that makes sense for them will continue to gain traction in the hospitality accounting industry.
    • anonymous
      anonymous on 15 Oct 19
       
      1. Smarter, personalized solutions are putting time back into the hands of hoteliers In order words saving time by cutting back on things that used to take up a lot of time but now would be much faster and quicker to do with the help of technological advancements. This will give hotel managers the chance to spend less time on their computers and instead more time helping guests.
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  • Insight enables users to create custom reports with data from the industry’s most recognized data providers, along with operating statistics, brand data and proprietary M3 financial and labor data into a personalized, actionable dashboard allowing hoteliers to make real decisions in real time
  • can save hours of time previously spent manually exporting data to create various types of reports
  • M3 recently debuted a new electronic imaging solution that relies on Optical Character Recognition (OCR) to extract key data from imported documents and eliminate the need for manual input.
    • anonymous
      anonymous on 15 Oct 19
       
      2. Automated Imaging (AI) is changing the way accountants do business. AI would be very beneficial as it is very accurate and it has a memory which saves important information and the more one uses it the faster it works.
  • The more a hotelier utilizes this system, the easier it becomes, as the solution learns and stores critical information, significantly speeding up A/P workflow with each use.
  • millennial employees play a critical role in helping to identify valuable trends as well as negative trends in need of adjustment.
    • anonymous
      anonymous on 15 Oct 19
       
      3. Millennial employee is just as important as the millennial guest. Given that the millennial generation are the more tech savvy generation it is equally important to have them as guests as it is to have them as employees. Not only are they up to date with all the technological equipment but they also know what trend are happening now.
  • harness the potential of employees in this age range or risk getting left behind or over investing in archaic solutions.
  • It used to take days to add a new hotel to our system, but we’re now able to get up and running in an hour or two through cloud-based tech solutions.
  • employers can maximize productivity and buy-in from the millennials on their payroll.
  • the behind-the-scenes services and solutions that power the guest experience are evolving just as quickly
  • Day-to-day processes are becoming smarter, more efficient and more streamlined, saving hotels and property management firms both time and money in the process.
  • #1. Smarter, personalized solutions are putting time back into the hands of hoteliers.
  • Successfully managing these assets demands cutting-edge adaptable solutions tailored to our industry.
  • allowing managers to spend less time behind a computer and more time in a hotel’s lobby interacting with guests.
  • #2. Automated Imaging is changing the way accountants do business.
  • #3. The Millennial employee is just as important as the millennial guest.
  • . In hotel accounting, the bells and whistles of excessive new technologies take a back seat to real solutions proven to boost bottom lines, which allows hotels to run leaner and more efficient than ever before.
  • anonymous on 15 Oct 19
     
    The article talks about three trends that are happening now within the hospitality industry relating the accounting topic.
  • zihanwang on 30 Jul 20
     
    The paradigm shift of technology is shaping the hotel business and powering up the operational and financial performance. we witness increased automation and intelligence in Hotel Accounting Services out there. The robust Hotel Accounting Software even leverage the Business Intelligence, in delivering the insights on key performance indicators . Accounting Software can not only help hotel saving cost but also can help hotel increase productivity
marble_bird

The Concept of Comprehensive Tracking Software to Support Sustainable Tourism in Protec... - 0 views

shared by marble_bird on 25 May 20 - No Cached
  • Visitor management of protected areas [1–3] is supposed to keep the tourism intensity below the area limits while respecting the needs of the local economy and community as a multi-faceted goal of participative management [4]. It requires reliable, comprehensive, and detailed data about tourism intensity, including its impacts and practical methods and tools to exploit the data for the purpose of visitor management
  • Visitor management of protected areas [1–3] is supposed to keep the tourism intensity below the area limits while respecting the needs of the local economy and community as a multi-faceted goal of participative management [4]. It requires reliable, comprehensive, and detailed data about tourism intensity, including its impacts and practical methods and tools to exploit the data for the purpose of visitor management
  • At first, a literature review (Section 2) is conducted in the areas of tourism impacts, tourism sustainability , visitor management, tourism modelling and simulations, visitor monitoring and tracking, and the utilization of data about visitors. Specific attention is paid to the promising method of individual tracking, its variants, and the challenges related to its deployment.
  • ...30 more annotations...
  • The LAC method [12,13], the carrying capacity [2,4,8,10,14–18], tourism sustainability indicators [8,10,19], or visitor management models [2,4,11] are some of the theoretical concepts and methods which the protected area visitor management may use to assess the effects of tourism and tourism infrastructure construction and maintenance.
  • isitor counts can be used to form a model reflecting the dynamics of the destination system, allowing visitor flow simulations
  • However, the quality of such models is critically dependent on the extent, quality, and readiness of the entry data [21]. The use of real-time data in models of destination systems is not common
  • Individual tracking methods are based on satellite positioning (e.g., The Global Positioning System known as GPS, or Galileo), active mobile positioning, Bluetooth positioning, Wi-Fi positioning, or indirect monitoring based on geocoded social media, or photo databases
  • Thus, attention should be paid to the categorization of visitors, including their needs, motivations, limitations, and the resulting patterns of behavior. Such analysis may help to reveal which categories of visitors are desired, e.g., because of their positive impact on the local economy, and which should rather be discouraged from coming
  • The use of visitor monitoring methods is a common part of visitor management practice, however, monitoring is often not implemented
  • systematically enough and data is often available with a significant delay (for example, from oine people counters installed in the terrain or when using data from mobile operators), making the assessment of the destination system state in real-time impossible
  • Correct and ecient data integration requires a systematic and consistent approach. However, a relevant methodology for the utilization of heterogeneous data is not available, which may be one of the reasons why comprehensive visitor monitoring is so rare.
  • the universally applicable concept of an intelligent tour guide for visitor tracking and for visitor characteristics acquisition are introduced in the results section of the manuscript. The ongoing experimental implementation of the proposed concept is mentioned, and relevant challenges are discussed at the end.
  • Gradually, five representatives and experts from protected area management, six destination organization experts, and four geopark experts were involved. None of the protected area experts involved in the research had any previous experience with systematic visitor data integration or with using the concept of the intelligent software tour guide.
  • The brainstorming and focus group were used to raise new ideas, and the Delphi method was used to reach a consensus when needed.
  • The knowledge gathered from experts served as an input for systems analysis, leading to the design of a computer program—an intelligent tour guide for each involved protected area. Namely, use cases, functional requirements, and other characteristics of the software were identified and discussed.
  • Because meaningful visitor flow and visitor impact modelling require suciently comprehensive and accurate data [21], systematic exploitation of all available relevant heterogeneous data about visitors (collected by a variety of methods, each with its specific limitations, e.g., visitor profiles, numbers of sold tickets, counts from sensors, space-time curves of individual visitors) is a recommended [36] and cost-e ective approach.
  • Visitor management of a protected area requires tourism impact estimates depending on its intensity (step 1). Estimates of proportions of various visitor categories depending on days of the week, holidays, weather, or season, or other factors together with expert estimates of specific impacts of these categories of visitors are available
  • The concept is meant to be generic enough to fit a variety of geographic areas (size, protected features of the local nature, local community , tourism intensity , division of roles in participative management between organizations, etc.)
  • The intelligent tour guide has to be:
  • Reliable, accessible, compatible.
  • Personalized.
  • Location-sensitive.
  • Destination-system-aware.
  • Interactive and collaborative.
  • Dialogue-wise.
  • Decently gamified.
  • Regarding human factors, the potential of individual visitor tracking to provide rich and valuable data may be hindered by the low motivation to participate [21,50,51]. Low participation may limit the usability of the resulting data and negatively a ect the e ects of possible attempts to influence the flow of visitors.
  • From the technical side, active mobile positioning provides spatially accurate data collected with a sucient sampling rate, for example, compared to passive localization data automatically recorded by mobile operators. However, still, the low satellite signal in rocks or under the canopy of a dense forest in combination with less-sensitive mobile devices may a ect the quality of the data and even the function of the tour guide.
  • Regarding the interpretation of the resulting data, the bias caused by the selection of participants and the willingness and fitness of members of di erent visitor groups has to be considered. Also, individual tracking may have an unintended influence on visitors’ movement and behavior [49], though the impact and resulting bias is usually acceptably low
  • Ethically and legally acceptable data collection may require the acquisition of informed consent from each participant.
  • An inadequate budget can lead to compromises, e.g., in the project management, analysis, or implementation, a ecting the compatibility, reliability, or usability of the program, or the quality and extent of the underlying model and the set of descriptive data.
  • Experimental verification of the individual tracking method, supplemented by visitors’ feelings and experiences by means of an intelligent tour guide operated in the context of a complex destination application, currently takes place in all involved areas. The application is being carefully designed in harmony with all recommended principles. Namely, a clear distinction is being made between the universal part of the application and area-specific models, configurations, deployment choices, or custom pieces of code.
  • The research team is looking for other possibilities of verifying the concept presented elsewhere in the Czech Republic and the world. Further research will reveal if the concept is truly generally applicable, as hypothesized, or not.
  • marble_bird on 25 May 20
     
    This article covers the research behind and design of software implemented in the Czech Republic to monitor visitor activity in protected areas. The software is designed to act as a "tour guide" and keeps track of visitors through satellite positioning. The article discusses the process by which this software would be developed, rationale for its implementation, and consumer data that may be collected through this process that would benefit National Parks and other protected areas. Theoretical questions in regard to human interaction, privacy concerns, and effectiveness of the application in low-service areas are discussed. Though the application requires more research and strict attention to variables, its implementation worldwide could change how sustainable tourism is managed and would provide important information on consumer habits in protected areas.
isabelladlp

Impact of Artificial Intelligence in the Hospitality Industry - Djubo - 0 views

djubo.com/...elligence-hospitality-industry

shared by isabelladlp on 14 Sep 21 - No Cached
  • Artificial intelligence in the hospitality industry is quite popular among many prominent hotel brands.
  • The collection of your customer data, coupled with vast improvements in computer technology, simply means that AI can be used for improving the functions of the business.
  • Here’s how Artificial intelligence in the hospitality industry is growing
  • ...13 more annotations...
  •     Improving hotel operations
  • By effectively training your staff to perform like robots, your service levels will decrease too.
  • Your front desk staff can comfortably answer guests at the front desk, while the chatbot takes care of online queries from potential guests
  • This means that both the tasks are being performed simultaneously without the hassle of adding extra stress on your staff.
  •     Effective revenue management
  • Moreover, a cloud-based property management system will give you numerous other benefits (hyperlink to our cloud-based PMP article).
  • Artificial intelligence in the hospitality industry has made it possible for your channel manager to compute complex data to give you the best rate.
  •     Personalization gets a whole new meaning
  • While a small hotel might be perfectly satisfied with a Facebook chatbot to drive additional sales, a hotel chain with hundreds of rooms at each hotel will need more than just a chatbot.
  •   Data analysis
  • AI technology can be used to quickly and efficiently categorize your guest data as per room preference, budget, amenities your guests use etc to lure them with attractive loyalty programs and offers for their next stay or perhaps even reach out to potential guests.
  • Multilingual booking experience
  • These chatbots are programmed to create a simulated conversation through natural language processing (text) and generation (voice) in your guests’ native language; the result being clear and concise interactions between the human and the machine.
sherylehlers

AI in Hospitality: The Impact of Artificial Intelligence on the Hotel Industry - 1 views

hoteltechreport.com/...ai-in-hospitality

intelligence hospitality technology

shared by sherylehlers on 01 Feb 23 - No Cached
  • AI in Hospitality: The Impact of Artificial Intelligence on the Hotel Industry By Hotel Tech Report Last updated January 25, 2023 9 min read Revenue Management Systems Livechat & Chatbots TABLE OF CONTENTS Hotel Operations Hotel Revenue Management Hotel Marketing Hotel Sales & MICE Guest Experience Human Resources and Labor Large Chains
  • estimated that 14% of jobs across 21 countries are at high risk of automation.
  • rtificial intelligence (AI) can greatly improve hotel operations by automating repetitive tasks such as booking and contactless check-in processes, freeing up staff to focus on providing personalized service to guests.
  • ...21 more annotations...
  • AI can also assist in setting dynamic pricing based on demand, occupancy and other factors, increasing revenue by charging more for rooms during peak periods and less during off-peak periods.
  • AI will play a role in identifying and targeting the most effective influencers for hotel campaigns, and assist hotels in monitoring social media platforms and identifying customer feedback, sentiment, and brand mentions to respond promptly and improve the guest experience
  • Hoteliers who do not educate themselves about artificial intelligence (AI) risk falling behind in the hospitality industry.
  • will also enhance safety and security by monitoring for potential threats and proactively providing guests with the services and amenities they desire. Additionally, AI will be integrated with virtual reality and augmented reality to provide guests with immersive experiences such as virtual tours, virtual room selection, and virtual events.
  • AI could potentially double annual economic growth rates by 2035
  • 800 million jobs could be displaced by automation by 2030,
  • AI can automate repetitive tasks, allowing hotel staff to focus on more strategic activities such as building relationships with key clients and providing personalized service to guests
  • Hoteliers who understand how to leverage AI tools to become more efficient and effective will become more valuable than ever
  • AI can identify opportunities for upselling and cross-selling to guests
  • AI-powered chatbots and virtual assistants will allow hotel staff to interact with guests in real-time and provide personalized recommendations and assistance
  • bring in more business travelers by leveraging predictive analytics to forecast future demand for group sales
  • AI can assist in real-time analytics to track the performance of group sales and identify areas for improvement, and in optimization by making real-time decisions based on market conditions, guest behavior, and other factors, and identify new revenue opportunities
  • AI can be used to enhance the safety and security of employees, by monitoring for potential threats and alerting hotel management in case of emergency
  • develop more effective marketing strategies and make data-driven decisions
  • Personalization
  • Smart room technology will be integrated with AI
  • Predictive maintenance
  • Inventory management
  • Automation will be one of the key areas where AI will be implemented, as it can automate repetitive tasks such as data entry, inventory management, and customer service, freeing up hotel staff to focus on more strategic activities such as building relationships with key clients and providing personalized service to guests
  • optimize energy efficiency by managing lighting, heating, and cooling systems, resulting in reduced energy consumption and costs
  • increased profitability, improved guest experience, and a competitive advantage over other hotels
  • mabbate on 01 Feb 23
     
    AI will be a major focus in the hospitality industry within the coming years. This article describes the many benefits and few troubles with this technology. Keeping up with technology as a hotelier is a must in the coming years.
  • shineal on 05 Feb 23
     
    This is quite an insightful article, for example, Al could potentially double annual economic growth rates by 2035 thus adding $15.7 trillion to the global economy by 2030. The world is changing, technology is rapidly advancing; therefore, it is paramount that companies try to remain updated, otherwise customers would always choose the property which renders the most efficient and best experience. A very strong point was made concerning hoteliers; if they do not understand how to leverage AL tools to improve their business operations, they would find themselves in very challenging situations.
  • sherylehlers on 29 May 23
     
    The capabilities of AI in the hotel industry are significant in both large hotel chains and small independent ones. If your hotel is not thinking about how to use AI in the near future for revenue management, marketing, personalization, and automation of repetitive tasks then it's going to get left behind. The studies show that AI is going to play a significant role in the economic growth of the global economy with potentially adding $15.7 trillion by 2030.
emilywest5

Automation and artificial intelligence in hospitality and tourism | Emerald Insight - 0 views

www.emerald.com/...html

technology hospitality tech software business

shared by emilywest5 on 05 Feb 23 - No Cached
  • Human knowledge, services and robotics applications were the most significant factors influencing automation and AI implementation. Practitioners and researchers in the hospitality and tourism industry could apply the proposed framework to develop sustainable strategies for implementing and managing automation and AI. The proposed framework may also be useful in future studies examining AI implementation in the hospitality and tourism industry.
  • Smart technologies like automation and artificial intelligence (AI) have become important elements of hospitality and tourism
  • Hospitality and tourism firms use smart technology to dynamically enhance consumer experience (Buhalis and Sinarta, 2019). Smart hospitality and tourism have provided opportunities for firms to enhance their operations and productivity, resulting in higher quality products and better processes for delivering services to customer
  • ...12 more annotations...
  • Although hospitality and tourism organizations have already implemented smart technologies such as AI and robotics into their business activities (Epiknetworks, 2018), the companies adopting them are still limited owing to the individual, organizational and external environment barriers.
  • Researchers still need to engage better, investigate and understand these nascent developments (Murphy et al., 2017), and limited studies have examined the implementation challenges.
  • Technological development plays a vital role in tourists’ decision-making processes. Digital technologies and cyber-physical systems may even act as extensions of a tourist’s self (Stylos, 2019). Several researchers have focused on the importance of including AI in tourism education (Murphy et al., 2017) and to be prepared for technology shifts in their industry
  • They also suggested that employees in the hospitality and tourism sector should study robot design and machine learning to link changes in technology to the international tourism industry.
  • In future, tourism will take place in a robonomic economy and tourists will demand a high-touch service experience
  • The use of smart technologies such as chatbots usually receives positive feedback and the benefits of this technology outweigh the challenges (Buhalis and Yen, 2020). The advancement of novel technologies involves a process of knowledge management, including maintenance, disruption and change. This needs the integration of technologies and institutions and results in the growth of new values and services (Vargo et al., 2015).
  • Service providers need to think critically about how AI applications in hospitality and tourism might affect people’s use of the service. They should also consider what needs to be changed to ensure that robots and employees work together seamlessly to augment the service experience (Buhalis et al., 2019). Smart technologies and AI could disrupt services in the hospitality industry, altering customer engagement plans and expectations (Helkkula et al., 2018).
  • Hospitality software has moved from local to server-based to Web-based to cloud-based platforms (Leung, 2020). The future smart infrastructure with high-speed networks enables efficient data exchange amongst databases in real time and therefore immediate service (Buhalis and Sinarta, 2019)
  • Technologies tested in previous studies have been improved by highly interactive systems, increased capability and a more user-friendly interface, so examining perceived interactivity of technology has become more important for advanced robot acceptance models (Go et al., 2020). Ivanov et al. (2019) stated that robotics was not introduced early to the travel, tourism and hospitality industries, because of the complexity of human reactions to customer needs.
  • Customers must experience feelings of enjoyment and satisfaction interacting with the robot. Customer attitudes are shaped by experience, and employee skills depend on education and training, as well as the company’s needs (Ivanov et al., 2019). Robots are expected to eventually overtake humans for cognitive tasks, with human input only required for duties requiring empathy and emotion
  • Intelligent agent technology is one of the most useful methods for supply chain management because it combines social ability, intelligence and collaboration (Alsetoohy and Ayoun, 2018). Alsetoohy et al. (2019) claimed that current procurement practices lack coordination and proactivity between suppliers and buyers, intelligent tools for finding suitable suppliers, performance evaluation and automation
  • By pairing robots and humans, service delivery can be optimized, leading to increased productivity and reduced costs
  • emilywest5 on 05 Feb 23
     
    This study was about adoption and automation of AI in hospitality. It gives great insight on the process as well as what people think of AI and their opinions. In addition to that, this study goes into different techniques that were used to understand how and why AI should be implemented. Human interaction cannot be beat, along with personal touch and humans can't remember everything a computer can, but if you have robots and humans working together you can get the best of both worlds. Smart technologies are now and the future.
llibe010

5 ways AI and robots will affect future travel | Flash Pack - 1 views

www.flashpack.com/...bots-will-affect-future-travel

AI travel agent hospitality hotel software

shared by llibe010 on 08 Nov 22 - No Cached
  • We accepted driverless trains very easily – London’s DLR, for example, has been trundling around without drivers since 1987. Driverless cars we’ve been more sceptical about, but seem to have made peace with their inevitability (aids for human drivers like lane assist are pretty much standard in every new car). But if either of those concepts blows your mind and/or has you feeling a little uneasy in the pant department, just wait until you board a pilotless aeroplane! That’ll feel completely fine, right? But it will almost certainly happen – it kind of does now, to an extent
  • The Vdara Hotel & Spa in Las Vegas uses two robot ‘butlers’ to deliver room service. This Chinese company claims to have created an AI receptionist. Even hotel mega-giants Hilton experimented with a Watson-powered robot concierge called Connie
  • an omnipresent army of artificially intelligent travel agents who can find the perfect holiday for you, powered by deep learning and a vast collective knowledge of everything travel-related except what it feels like to get sunburnt
  • ...3 more annotations...
  • recognition, be it facial or cornea or fingerprint, could soon be your way through passport control: it’s already being trialled at Changi airport in Singapore
  • You might have heard of smart cities. Super-connected, intelligently-planned urban conurbations aimed at making life an absolute dream, both now and in the future, through the use of technology
  • And while ‘more planes’ doesn’t sound very environmentally friendly, that AI technology can be used to make all kinds of transport more efficient. Fewer empty planes and trains, less stacking over airports, more intelligent planning of onboard catering (no more fish dishes = less food waste IMO – who eats them?) – it all helps the goal of green tourism
  • llibe010 on 08 Nov 22
     
    The article discusses 5 potential use cases of artificial intelligence with a focus on travel and hospitality. The first example is of driverless vehicles and airplanes and the second speaks of AI receptionists and robot concierges. Other examples include AI-powered travel agents that use deep learning and create customized holiday packages for guests in the future. Biometric recognition as a replacement for passports has also been discussed along with using AI for green tourism. In general, the article highlights the role of AI technologies in improving travel efficiency and sustainability while acknowledging that there are pitfalls and that these technologies still require years of development.
Ryan Jove

Headline Story | equities.com - 0 views

www.equities.com/...headline-story

headline story equities technology hospitality Software Business tech solution

shared by Ryan Jove on 09 Oct 12 - No Cached
  • tw telecom CEO Keynotes COMPTEL PLUS Fall 2012 Convention & EXPO
  • called for the Federal Communications Commission (FCC) to embrace "smart, forward looking competitive telecom policy with price and service quality rules where incumbents have market power, regardless of technology used."
  • "The FCC should establish technology-neutral policies, a principle that is central to the Telecom Act of 1996 and competition policy,"
  • ...7 more annotations...
  • "The industry is moving from a physical infrastructure to a logical one. We're moving from circuits to services. Innovation is driving our success as a competitive indu
  • stry." 
  • Intelligent Network
  • Intelligent Network
  • "We as an industry must adapt to new technologies and capabilities as our customers adopt IT strategies for cloud services and solutions. And we must convince the FCC to update its competition rules to accommodate these changes.
  • "Competition drives innovation. Innovation grows the market,"
  • The company's fiber optic networks directly connect more than 16,300 buildings across the United States
  • Ryan Jove on 09 Oct 12
     
    This article outlines the discussion about whether the Federal Communications Commission (FCC) should change their policies that were enacted in the Telecom Act of 1966.  At the COMPTEL PLUS Fall 2012 Convention and EXPO, Larissa Herda, the Chairman, CEO, and President of tw telecom urged the FCC to adapt to the new competitive technologies.  She emphasizes the importance of change going forward and discusses the Intelligent Network as an example.  She calls for the adoption of new IT Strategies for cloud services and solutions.  Above all, this article discusses the convention as a platform for the discussion of change in the tech world.
YIZHE YANG

The HRIS solution - Express Hospitality - 0 views

hospitality.financialexpress.com/...management08.shtml

solution hospitality travel technology software HRIS

shared by YIZHE YANG on 09 Apr 13 - No Cached
  • The Human Resource Information System (HRIS) is a software, an online solution for the data entry, data tracking, and data information needs of the Human Resources (HR) and management functions within a business. Normally packaged as a data base, hundreds of companies sell some form of HRIS and every HRIS has different capabilities.
  • New business intelligence technologies offer HR departments the ability to invest in Human Capital Management analytics solutions designed to yield the insights essential for making informed decisions on HR. Business intelligence allows HR departments to become a strategic asset within the organisation.
  • Future of human resources analysis has to be linked to other key performance indicators such as revenue and profitability. HR professionals must understand the organisation’s business plans and the operational, financial and customer-facing goals they are expected to achieve. Then they should associate these goals with the existing workforce metrics. In many cases, HR information is scattered, which leads to non-systematic hiring, training, measurement data which is essential these days, as globalisation, tight labour markets and an aging workforce are causing many businesses to more closely inspect the performance of their largest investment, i.e. the workforce whose compensation represents 60 per cent to 70 per cent of the entire expenses of the organisation. New business intelligence technologies offer HR departments the ability to invest in Human Capital Management analytics solutions designed to yield the insights essential for making informed decisions on HR. Business intelligence allows HR departments to become a strategic asset within the organisation. It helps the HR department make key decisions around recruitment, planning, and budgeting to support the strategic goals. More than ever before, HR professionals are being asked to show how their company’s workforce policies affect the overall business plan. Investing time and money in software solutions is the need of the hour.
  • Dandan Mao on 09 Apr 13
     
    "The Human Resource Information System (HRIS) is a software, an online solution for the data entry, data tracking, and data information needs of the Human Resources (HR) and management functions within a business. Normally packaged as a data base, hundreds of companies sell some form of HRIS and every HRIS has different capabilities."
  • ...1 more comment...
  • anonymous on 15 Apr 13
     
    Using information technology to assist in Human Resources allows easier management of information and benefit plans. Human Resources will be able to measure their contributions easier and become more accountable for their specific work. Many high-end hotels use web based HRIS, which enables a corporate executive team to have access to the data. This also allows team members to access their own data, apply for leaves, or change their residential address. HRIS has great benefits that can be used in the hospitality and tourism industry. Human Resources can be easily scattered and confusing to new hires, so having a better systematic system that is computerized makes information clearer. When much of the hospitality industry is under globalized companies this can benefit companies when they have properties all over the world. Corporate offices can easily access human resources information from another part of the globe at anytime of the day, instead of having to call up a human resource manager who may be in a different time zone. HRIS makes life easier and allows human resources to show policies and business plans in an easier way.
  • TIAN LIU on 15 Apr 13
     
    The Hospitality industry is known to have very high attrition rates. This makes it all the more critical to have a robust HR information system (HRIS) in place. HRIS has emerged as among the most crucial aspects of hospitality IT. No hospitality management system can be considered complete without an effective HRIS system. An efficient HRIS system manages the recruitment, staff-shifts, time & attendance, and many other aspects of your hospitality HR requirements. It should be able to drill down to history files and provide e-leave application & training management. Immerauf has partnered with Greytip software to bring you one of the industry's best Folklore HR software to suit all your HR needs including a resume bank to store a active database of prospective employees.
  • YIZHE YANG on 21 Apr 13
     
    HRIS solution in hospitality industry is crucial. it makes managers save time and money to pursue the high profitability. this software can collect the employee information or interviewers information and choose the best employee who are suitable for hotel. this solution can compare the employee working experiences like how long this employee works in hospitality industry, what his job was before, what his position was before. using this software, managers can have a clear understanding of the performance of the employee.
Xuan Huang

Back Office Intelligence | Top Stories | Hospitality Magazine (HT) - 0 views

hospitalitytechnology.edgl.com/...Back-Office-Intelligence55201

back office hospitality technology

shared by Xuan Huang on 22 Feb 13 - No Cached
  • when deciding to invest in technology, restaurant operators look for a quick return
  • innovation in the back office
  • New features usually cost money, but for me, the ROI is definitely there
  • ...10 more annotations...
  • Before, we had to dial into each location to send menu updates, and I had two or three people sending updates. Now I only need one
  • The system also allows franchisees to gain control over their food costs
  • test a snack combo pack at its more than 400 locations and realized they needed to run one report at a time in order to analyze its effectiveness
  • RedPrairie's Performance Management
  • It literally took me three weeks and 270 individual reports," says Paul Mullin, business analyst at Culver's. After implementing the RedPrairie solution, the same scenario can be accomplished in five minutes, he says
  • As a result of this one report, the company saved $45,000 per year
  • able to see real-time information about what was going on in my restaurant, including open checks, servers logged in or out and even sales
  • Another sign that technology is changing is the ability to combine accounting, inventory and point of sale into one solution without the old challenge of interfacing disparate systems
  • The system integrates with the POS, and deducts ingredients based on recipes created using the system.
  • I can look at inventory counts and on-hand counts at each location, which allows me to move things around if we are running out of something at one location
  • Xuan Huang on 22 Feb 13
     
    This article is about the innovation in the back office arena. When many managers are still doubting back office technology efficiency, at Tropical Smoothie Cafe, based in Destin, Fla. with 275 franchise locations, operators there are adding up money saved by setting up RedPrairie's Performance Management (RPM). Benefits could be like control labor cost and food cost, especially for those franchise companies with hundreds of hotels or restaurants throughout the country even the world, RPM will provide a complete compared among different locations reports in a few minutes. Besides, back office begins to meet iPhone, which make it possible to see real-time information about what was going on in the restaurants, including open checks, servers logged in or out and even sales for the managers. Another sign that technology is changing is the ability to combine accounting, inventory and point of sale into one solution without the old challenge of interfacing disparate systems. In a word, it is really convenient to get the back office intelligence.
Manali Rabari

Hotel Room Rates Undergo Closer Inspection by Corporate Buyers - 4 views

www.hospitalitynet.org/...4057062.html

shared by Manali Rabari on 09 Sep 12 - No Cached
  • Corporate buyers will be able to gain greater control over hotel room rate negotiations and compliance with the inclusion of intelligent rate parameter data in their benchmarking reports. RateTiger’s introduction of rate filtering technology to its award winning rate data product, RTCorp, will provide direct hotel pricing comparisons in line with hotel product type.
  • Corporate buyers will be able to gain greater control over hotel room rate negotiations and compliance with the inclusion of intelligent rate parameter data in their benchmarking reports. RateTiger’s introduction of rate filtering technology to its award winning rate data product, RTCorp, will provide direct hotel pricing comparisons in line with hotel product type.
  • orporate buyers will have the business intelligence to match travel expenditure to their budgets and give travelers greater flexibility of hotel choice based on Best Available Rates (BAR).
  • ...3 more annotations...
  • Corporate buyers will have the business intelligence to match travel expenditure to their budgets and give travelers greater flexibility of hotel choice based on Best Available Rates (BAR)
  • “Corporate travelers are noticing fluctuations in Best Available Rates (BAR) online and need to compare these public prices to their negotiated contracts to ensure they are getting the best deal
  • “Buyers need to shop rates that are comparable to their purchases, by setting simple filters that identify room types and meal plans, etc therefore making more accurate price comparisons. Crucially all filters are shopped regardless of the specific view defined. This allows the user to change the parameters after the shop without the need to shop again, making more detailed data available faster.”
  • Jenan Williams on 09 Sep 12
     
    As technology continues to advance, companies are looking into what works well for what kinda consumer. RateTiger is targeting corporate consumers, who want to be in control of room rates and have the ability to negotiate better deal based on services provided. RTC uses RPS, rate parameter shopping that searches thru hundreds of travel sites, hotel brand sites and GDS offeres corporate buyers, OTA's and travel companies the opportunities to build a rate around the best room rate for the perks and services, in comparison to what the public pays.
  • Nelson Placa on 09 Sep 12
     
    Excellent Article!...While corporate travelers are noticing fluctuations in "Best Available Rates (BAR)" I can only imagine that hotel owners and stakeholders are seeing a decrease of revenue caused by the ADR (Average Daily Rate). During the recession hotels had to re-shape their thinking and lower Corporate Room Rates to stay afloat; these changes caused the ADR to be lower than usual. As the economy improved, it has been harder for companies to re-negotiate corporate rates in an attempt to increase the ADR and profits for owners/stakeholders. http://www.bcdtravel.com/global/show_document.asp?id=aaaaaaaaaadsveg
  • Manali Rabari on 14 Sep 12
     
    This technology will provide business travelers the ability to compare hotel prices based on the type of rooms. This will help the customer in customizing their own needs during travel, while being price savvy. The traveler also has the ability to have default settings that will meet their own room specifications.
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