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laurenperdomo

Why is GDS important to the travel industry? | TTS - 0 views

www.tts.com/...portant-to-the-travel-industry

shared by laurenperdomo on 10 Sep 19 - No Cached
  • three important GDS systems: Travelport (Galileo, Apollo, Worldspan), Amadeus and SABRE
  • GDS booking has increased worldwide over the past 4 years yet some industry observers suggest that GDSs may become nearly obsolete by 2020. But like many technology/software-based systems, GDS may evolve, instead.
  • alert agents to special rates, fares, and travel packages – an effective marketing tool for passing savings on to agents, and from agents to their customers. 
  • ...5 more annotations...
  • agents can access scheduling and inventory of hotels, airlines, car rentals, and (some) railway and bus reservations – in real time
  • The Global Distribution System (GDS) is a primary reservation tool for travel agents.
  • GDSs may become more of a “direct corporate booking tool” instead of a system used exclusively by travel management companies. 
  • Technology may refine and tailor engines to target specific travel interests like corporate or leisure travel. Integration methodologies may change, blurring or merging nearly separate functions like booking and in-flight processes
  • Technology may also produce new solutions to make data more useful and practical for customers (travel agents) and expand to cover new industries.
  • mabar006 on 10 Sep 19
     
    The article discusses the definition of GDS and how important it is in the travel industry. As stated, the three main GDS systems involve Travelport, Amadeus, and Sabre with Travelport generating billions of dollars in travel sales. Upon explaining how important GDS is in the hotel and airline industry, it also explains its importance to travel agents as it points out reasons for why it has a bright future in the hospitality industry.
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  • audragrace on 11 Sep 19
     
    This article explains why GDS is crucial for the industry. It is suggested that GDS is one of, if not the best tools for travel agents. Along with the pros of using GDS this article goes into what the future of GDS might look like.
  • mserr078 on 26 May 20
     
    The Article talks about how important is the GDS in the travel industry. where some agents can access to scheduling and inventory for your hotels. it talks about three important GDS Systems like the Travelport, Amadeus and Sabre.
  • laurenperdomo on 06 Jun 20
     
    This article describes GDS as a network/platform that enables travel agencies and their clients to access travel data, shop for and compare reservations options and book travel. Agents can access scheduling and inventory of hotels, airlines, car rentals, and (some) railway and bus reservations - in real time. GDS links all those services across the three primary travel reservation sectors (airline, hotel, and ground transportation, i.e., car rentals), and activities. GDSs are very important to travel agents and they will continue to be used and will continue to evolve.
irinadolgopolova

Where do OTAs Stand in the Covid-19 Era? - 0 views

www.oag.com/...otas-stand-in-the-covid-19-era

technology hospitality OTA COVID-19

shared by irinadolgopolova on 08 Jun 20 - No Cached
  • airlines have decreased capacities, withdrawn from routes, issued free cancellations and refunds to travelers, enacted flexible amendment policies to accommodate itinerary changes. However, these initiatives have also had negative impact on airlines’ operations and the balance sheets.
  • Historically, OTAs would offer alternate destinations or flight options to its travelers in times of crisis – hoping to still put a sale on its books. This time around, it is different. With several travel advisories, quarantine measures, and lockdowns in effect, people are least likely to spend their disposable incomes on travel just as yet.
  • Trip.com also guided towards a 45-50% year-over-year decrease in company-wide net revenues for the first quarter of 2020.
  • ...8 more annotations...
  • The sudden spike in cancellations and limited interest in future travels is surely putting OTAs through an uncomfortable patch.
  • Considering the weak booking period that is to follow, the group has decided to reduce its cost base, curtailing projects, reduce marketing, overheads and discretionary spend, freeze new hiring, deferring salary increases and waiving off management bonuses.
  • With all the components now hurting, OTAs also have the unique position to revive growth in the industry.
  • In-Airport Initiatives: OTAs such as Indonesia’s Traveloka handed over face masks to travelers visiting the affected countries (until border lockdowns were announced). Several also shared best airport and in-flight hygiene practices with their customer base.
  • Operating calls come with attached overheads, and despite the scale of cancelations most OTAs are absorbing this as part of their customer service initiatives. OTAs, however (and obviously) are prioritizing their assistance based on travel dates.
  • a number of OTAs have rolled out self-service tools, including chatbots, to mitigate the pressure from call center operations and offer instant resolution to travelers’ needs. These (semi-) automated modules are found across OTA websites and apps, which allows travelers to either opt for OTA credit for future bookings or instant refunds (subject to the airline policy).
  • The goodwill earned based on their actions during the ongoing crisis will likely pay off when the world bounces back and returns to traveling.
  • Trip.com recently launched Travel Revival V Plan in China, the ground zero for Covid-19. Through the initiative, the OTA group aims to bring together hotels, tours, flights and attractions; and contribute over RMB 1 billion to boost measures for travel industry recovery.
  • irinadolgopolova on 08 Jun 20
     
    As the entire travel industry, OTAs suffere a lot because of the COVID-19 pandemic. In this article are described not only financial losses of the OTAs, but also the steps that they are going to take towards the safety of the travelers, and the possible future conditions for the OTAs operations.
Kevin Sepulveda

6 Geofencing Benefits for Your Business | By Paul Reyes-Fournier - Hospitality Net - 0 views

www.hospitalitynet.org/...4075136.html

technology hospitality hotel software travel

shared by Kevin Sepulveda on 21 Jun 20 - No Cached
  • The basic idea behind geofencing is that you can customize your marketing message based on location.
  • Sending a message that tells people walking by that your business offers free Wi-Fi, especially if they are looking for Wi-Fi, drives people into your store. It shifts the message from being an advertisement into being a service. This also works for free samples and demonstrations of your product or service.
  • Geofencing is a new technology that enables businesses to directly market to consumers based on their location.
  • jackyreis on 21 Jun 20
     
    I think Geofencing is extremely interesting. Although it's ultimately singling out a group of people and changing their marketing strategies to fit that group of people's interests, I think it reaches a larger audience this way by understanding what the people want to see rather than giving them advertisements they'll quickly scroll through.
anaslip

3 Best Free and Open Source Event Management Software - 1 views

blog.capterra.com/free-event-management-software

free event management technology hospitality

shared by anaslip on 26 Jul 20 - No Cached
  • 3 Best Free and Open Source Event Management Software
  • the software had to offer at least the following functionalities: Enable organizers to create an event page or website with details such as location and times. Allow attendees to register for events and/or buy tickets/passes.
  • Other important event management features include attendee management, barcode/QR scanning, email marketing, and mobile apps. However, these features were not requirements for inclusion in this list.
  • ...10 more annotations...
  • Allevents.in is an event discovery and online ticketing platform that doubles as an event management tool. The platform helps you tap into an existing base of event-goers online and reach audiences more quickly than setting up a web page from scratch would.
  • Event setup is quick and easy. Integration with various social networks makes it easier to promote and market events. Ability to create discount codes is a much-needed functionality. The user interface could be simplified further to make it easier to navigate.
  • Eventleaf is a tool that allows you to create and promote event pages, as well as register attendees and sell tickets. The free version of the tool allows you to register up to 100 attendees per year, regardless of the number of events. It also allows you to build event websites and set up marketing campaigns for events.
  • It has a short learning curve, and it’s easy to navigate. There is a high level of customization in the design and registration requirements when creating an event page. It needs an auto-save functionality on the event creation page. It lacks the ability to adjust the audience when sending out email campaigns or surveys.
  • Odoo Events is open source software that offers features for all stages of the event planning process. You can use it to design and set up events pages, organize and schedule events on an event calendar, and manage attendee registrations. You can also use it to promote events via email marketing; integrate with social media, SEO tools, and Google Analytics; and do online and offline ticket sales.
  • Customizability of the interface. The tool is flexible enough to cater to the diverse needs of different users. Self-service means users have to fix any glitches or errors by themselves. Getting direct support from the vendor or affiliates is possible but can be pricey.
  • To help you evaluate event management solutions, here are some important points to keep in mind:
  • Size of events you plan to host:
  • Marketing and promotions needs:
  • Deployment options:
  • anaslip on 26 Jul 20
     
    This article shows us top 3 free even management softwares. Before choosing your software, keep these 3 things in mind: size of the event, marketing and promotion needs and deployment options.
jfuen093

7 Most-Popular Hotel Management Software for Small Hotels - 3 views

blog.capterra.com/ions-for-small-hotels-compared

small hotels hotel management software Tech solution

shared by jfuen093 on 13 Jan 18 - No Cached
  • For hotels, finding the right software fit is especially important, because without a suitable software solution, you’re wasting time and money—big things that take you away from your customers and keep you from providing a stellar guest experience. For smaller hotels, you may think you’re getting more bang for your buck with a solution designed for enterprise hotels, but in reality you might need some tailoring. You may be paying for a bunch of extra features you’ll never use, or perhaps you run tours as well and need a feature for managing that aspect of your business.
  • 11 most popular hotel management software
  • Easy-to-use interface Customizable availability calendar Personalized guest, company, and travel agent profiles that can be exported into marketing campaigns Data encryption on secure servers, and the ability to restrict user privileges
  • ...8 more annotations...
  • For smaller hotels, you may think you’re getting more bang for your buck with a solution designed for enterprise hotels, but in reality you might need some tailoring. You may be paying for a bunch of extra features you’ll never use, or perhaps you run tours as well and need a feature for managing that aspect of your business.
  • you’re wasting time and money
  • you’re wasting time and money—
  • you’re wasting time and money
  • For smaller hotels, you may think you’re getting more bang for your buck with a solution designed for enterprise hotels, but in reality you might need some tailoring. You may be paying for a bunch of extra features you’ll never use, or perhaps you run tours as well and need a feature for managing that aspect of your business.
  • For smaller hotels, you may think you’re getting more bang for your buck with a solution designed for enterprise hotels, but in reality you might need some tailoring. You may be paying for a bunch of extra features you’ll never use, or perhaps you run t
  • Cloudbeds serves as an all-in-one hotel management system that can also connect your property to hundreds of channels (such as Booking.com and Orbitz) with real-time, two-way integration
  • Rate management to maximize revenue through seasonal rates Mobile application to receive reports on smartphone/tablet Event management Self-service check-in kiosk
  • amberarias on 13 Jan 18
     
    Capterra is a webiste that offers the proper research for businesses to look for a software that works best for them. The article discusses the most popular software solutions that works best for small hotels. The list of the software's discussed already included what reviewers loved, their advice for improvement, and cost. This is a great article for small hotels to look at because it is an easier way for them to select a software that suits them best.
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  • sliu043 on 16 Jan 18
     
    For any hotel, it's important to find the right operating software. Especially for small hotels, choosing a well-designed software is able to save more money and time. In this article, the author has introduced 11 most popular hotel management software specially for small hotels, including Cloudbeds, eZee Frontdesk, Frontdesk Anywhere, Hotelogix PMS, Maestro PMS, MSI CloudPM, OPERA Property Management System(PMS), RDPWin, Rezlynx PMS, roomMaster, SkyTouch Hotel OS.
  • berkley7 on 13 Jun 18
     
    The following article reviews the 11 most popular PMS systems that are used within the lodging industry. The importance of choosing the right system for your property is vital and should be taken seriously when comparing the different features offered, etc. I found the article to be very helpful in the fact that it goes into detail analyzing the different systems and highlighting what each have to offer. Depending on the size of your property, facilities, and even location are just a few factors that truly depict which system is best for you. Comparing cloud based systems to dashboards is also something to consider and can drastically change the overall functions of your property based from the system that is used.
  • zxu009 on 23 Apr 19
     
    This article is about the new software technology ad uts benefits in the hospitality industry
  • natyangel on 10 Oct 19
     
    This article discusses the 7 different PMS systems that would benefit each hotel style in the hospitality industry. It's important for hotels to find the right PMS system so they do not waste time and money. Cloudbeds serves as an all-in-one PMS system, it connects your property to hundreds of channels with two-way integration. It allows guests to make direct reservations through their desktop or mobile device. eZee Frontdesk serves to help with rate management to maximize revenue, mobile access to reports, event management, and self-service check-in. This PMS system is mainly used at boutique hotels, hostels/lodges, resorts, and small hotels in 140 countries. Frontdesk Anywhere serves to create personalized guest, company, and travel agent profiles that can be exported for marketing campaigns, data encryption on secure servers, and the ability to restrict user privileges. Hotelogix PMS serves as a multi-device booking engine for third-party integrations with OTAs. This system is mainly used by small to midsize hotels and is used by more than 10,000 properties worldwide. Maestro PMS serves its purpose by helping small properties. Maestro is designed for the cloud, and brings 20 different modules under one umbrella, including reservations, front desk, sales, space and club management, and dining POS. Maestro aims to simplify things, enabling hotel managers to run everything from one dashboard. MSI CloudPM serves to keep costs down by bypassing the purchase of additional hardware. It provides an Automatic backup and optional on-site backup. Lastly, OPERA PMS system serves to help big corporations, as well as independent hotels with profile management, housekeeping management, accommodation management, and much more. These PMS systems all are beneficial to understand them to learn what PMS system fits best for your business instead of going into the hospitality industry blind.
  • leonfai on 26 Jul 20
     
    These are the most popular software that are used by small hotels specifically
  • jfuen093 on 25 Aug 20
     
    Smaller hotels run with tighter profit margins. This article discusses the 7 top softwares that are available to a small hotel that have many features i.e. front desk, bookings, food and beverage - all in one software application.
Lymaris Collazo

The Autumn of Covid Is the True Test for Your Hotel CRM | - 0 views

hoteltechnologynews.com/...e-true-test-for-your-hotel-crm

covid-19 crm hotel software technology travel solution hospitality business autumn

shared by Lymaris Collazo on 26 Aug 20 - No Cached
    • Lymaris Collazo
      Lymaris Collazo on 26 Aug 20
       
      DEFINITION: Customer Relationship Management (CRM) system helps manage customer data. It supports sales management, delivers actionable insights, integrates with social media and facilitates team communication.
  • A fortuitous side effect of Covid, though, has been that all the investments in touchless technologies have now allowed hotels to digitalize supplementary or granular guest behaviors and preferences that were previously handled in-person by your staff.
  • Where I see your CRM truly coming to the rescue this autumn is in maximizing return visits from leisure guests
  • ...5 more annotations...
  • Besides continuing to make up for lost revenue during the quarantine period in spring, hotels will need an aggressive strategy in place for drumming up additional leisure business for the tail end of 2020 because corporate and group guests are still returning at a turtle’s pace; these segments cannot be relied upon to deliver healthy numbers until 2021. And for achieving the most conversion from transient lookers, the first step is to analyze your customer relationship management software (CRM) to see what you can learn from recent guest behavior
  • a CRM can be of assistance relates to the general satiety of eblasts, newsletters, webinars and all other forms of one-to-many marketing.
  • if you have rich guest profiles within your CRM, then you are enabling your managers to utilize one-to-one marketing in a world that is numb to blanket eblasts.
  • if your hotel doesn’t live up to expectations it will be incrementally harder to get guests to come back during a less desirable time of year.
  • this autumn will prove to be quite problematic for hotels that aren’t listening to what key drivers are actually motivating guests to book. You need all resources on hand to get those quick wins in the leisure segment that will save your property from dreadful occupancies during this upcoming low period and taking full advantage of your CRM is an important preliminary step.
  • Lymaris Collazo on 29 Aug 20
     
    On this dificult times for the hospitality industry we must reinvent our techniques to save the industry. Hotels are relying in business reservations to make up for the lost revenue that lockdown has caused, but the hotels needs an aggresive strategy to attract leisure and save the industry during fall. The author talks about how the behavior of the society has changed with the pandemic and how a Customer Relationship Management (CRM) system helps to understand the most recent guest behavior. A CRM will help to provide a customized and personalized one-to-one marketing motivating guests to book. Some of this strategies could involve attractive packages promoting a 'stay-cation' with the covid-19 desinfection requirements. In conclusion, A CRM is a great preliminary step to take advantage of this challenging circumstances and save the hospitality industry for the remainder of the year.
jchac014

Why Hospitality Should Consider Disinfecting Kiosks, POS and More with UV-C Energy Tech... - 1 views

hospitalitytech.com/nd-more-uv-c-energy-technology

hospitality technology

shared by jchac014 on 15 May 20 - No Cached
  • Using UV-C energy to inactivate microorganisms at the genetic level by scrambling their cellular DNA, UV-CLEAN has been proven by independent testing to eliminate 99.9% of deadly pathogens on high touch surfaces.
  • hotels and restaurants have a large number of points of interaction that are used by employees and guests. These touch points include check-in and informational kiosks, the point of sale, payment devices, order taking stands and on-table devices – all of these points of interaction can be a source of harmful viruses and bacteria.
  • Current cleaning standards are inconsistent, prone to error, are expensive due to labor costs, can cause increased failure rates (due to liquid damage), and can cause cosmetic damage to technology.
  • ...4 more annotations...
  • The solution leverages UV-CLEAN technology to automatically disinfect surfaces during pre-set cleaning cycles.
  • Disinfection in hotels needs to focus on both technology and consumer items.
  • Within sit down restaurants, technology is expanding to include check-in kiosks, on table payment and entertainment devices and pay at the table devices.
  • “As IUVA recognized, UV-C has been proven to inactivate coronavirus, SARS-CoV-1, which is 80% genetically related to COVID-19.
  • jchac014 on 15 May 20
     
    UV-Clean is useful, disinfecting technology the Hospitality Industry can use during and after this COVID-19 pandemic. As restaurants and hotels slowly open back up, their surfaces run high risk of carrying the virus, being that more people are going to be around and touching things.
ealmi001

Top cloud providers in 2020: AWS, Microsoft Azure, and Google Cloud, hybrid, SaaS playe... - 0 views

www.zdnet.com/...azure-google-cloud-hybrid-saas

software technology business

shared by ealmi001 on 31 May 20 - No Cached
  • ealmi001 on 31 May 20
     
    According to the article Top cloud providers in 2020: AWS, Microsoft Azure, and Google Cloud, hybrid, SaaS players, cloud computing in 2020 is more mature, going multi-cloud, and likely to become more focused on vertical and a sales ground war as the leading vendors battle for market share. The COVID-19 pandemic and the move to remote work and video conferencing are accelerating moves to the cloud. Enterprises increasingly are seeing the cloud as a digital transformation engine as well as a technology that improves business continuity. As work was forced to go remote due to stay-at-home orders tasks were largely done on cloud infrastructure.
jalipman

Gale General OneFile - Document - Smart Hospitality Market Forecasts 2020-2025: Growing... - 0 views

go-gale-com.ezproxy.fiu.edu/...i.do

Cloud Computing

shared by jalipman on 31 May 20 - No Cached
  • North America and Europe have a significant amount of market share in the smart hospitality market due to presence of big hospitality companies which are focusing on moving towards the use of advanced technologies and smart building management systems for efficient energy consumption, reducing operational cost, and providing guests with modern amenities for better services.
  • Regionally, the global smart hospitality market is classified into North America, South America, Europe, Middle East and Africa, and Asia Pacific. The APAC Smart Hospitality market will witness substantial market growth during the forecast period owing to the growing investments by international hotel chains in countries like India and China in smart hospitality solutions.
  • he smart hospitality solutions help in serving the guest with advanced communications technologies that assist them in conducting meetings, conferences, and connecting with associates around the world without any hindrances.
  • ...11 more annotations...
  • These hotels have increased the demand for smart hospitality services by using more of on-premise and cloud for better management of hotel resources and improved hospitality services. It even helps in reducing operating costs by providing energy-efficient solutions and increases revenue.
  • However, factors such as high initial cost of deployment and lack of technically skilled professionals are hindering the smart hospitality market growth.
    • jalipman
      jalipman on 31 May 20
       
      Throughout the article we have talked about the cost cutting bonuses of adding smart systems in hotels. Here they touch on the fact that the actual physical implementation and start up costs are initially very expensive. This could be analogous to solar panels. They are very good for the environment (the hotel) but the initial cost of installation (implementation) makes it difficult to invest in the first place.
  • The rise in the number of smart hotels is driving the segment of software and services smart hospitality. The services are increasingly been used for integration, maintenance, and training.
  • According to the World Bank Data, the number of arrivals of international tourists across the world has increased from 911.85 million in 2009 to 1,442 million in 2018. As such, market players in the hospitality sector are using smart hospitality solutions in order to provide their guests with better hospitality services
  • The software helps in facility & emergency management response systems, building energy management, water management, security management, and parking management which will further reduce cost and save time on these services. This, in turn, will increase the demand for smart hospitality services, thereby positively impacting the overall market growth.
    • jalipman
      jalipman on 31 May 20
       
      The smart hotel systems will be able to reach beyond just customer service it will allow better analytics and cost saving methods across all departments of the hotel.
  • or example, in April 2019, InterContinental Shenzhen signed a strategic cooperation agreement with Huawei and Telecom to create the world's first 5G smart hotel. Viggo Smart Hotel is delivering the first true cloud-based smart hotel TV solutions for the global hospitality industry.
  • n addition to this, smart hospitality solutions allow energy-efficient management system. As such, growing environmental concerns and rising focus on CSR among hotel companies is also ramping up the demand for smart hospitality solutions.
  • Global hotel chains are increasingly investing heavily in smart hospitality solutions including in order to improve customers' impressions and satisfaction. Moreover, hotel companies are also adopting smart hospitality solutions as they help to save operational costs and generate more revenue while enhancing their hospitality services to customers.
    • jalipman
      jalipman on 31 May 20
       
      Hotels are taking advantage of this point of sale type technology like at grocery stores where you have self checkout. Embracing that they can cut sots on personnel while allowing people the "luxury" of doing it themselves
  • For example, in some hotel, customers can use their smartphones to control the room's environment by way of allowing remotely open and close the window blinds and regulating the room temperature.
  • The increasing number of contractors are teaming up with different tech firms to build smarter hotels with low cost and less time which, in turn, is positively impacting the smart hospitality market growth.
    • jalipman
      jalipman on 31 May 20
       
      The increase in number of tech firms investing themselves in smart hotels is actually driving the market itself. Hotels are basing their operations with smart systems due to things like safety concerns from viruses as well as just following the path the hospitality industry has down towards automating these processes
  • The market is driven by the rising internet penetration and growing inclination towards IoT which are encouraging the hospitality segment to offer smart solutions to their customers with the use of digital technology.
jackyreis

Can You Use Your POS To Help Eliminate Restaurant Fraud? - Total Food Service - 0 views

totalfood.com/elp-eliminate-restaurant-fraud

shared by jackyreis on 06 Jul 20 - No Cached
  • Can You Use Your POS To Help Eliminate Restaurant Fraud?
  • Fraud comes up a lot in the restaurant industry. It’s with good reason. In a business where margins are always tight, customers literally walk in and out, fraud continues to be a constant concern.
  • But did you know your POS has other features to help in your efforts to keep transactions safe and your business secure? Scammers are a crafty lot.
  • ...14 more annotations...
  • Auto-grat scams
  • Automatic tip calculation is a genuine convenience for large parties and those who have difficulty determining appropriate gratuities.
  • Your POS has the ability to determine which tables qualify for an automatic gratuity, so management can easily see which large parties in your dining room will be targeted. If you see cash left after a table has already paid a bill, you may want to intervene and remind the guest that gratuity was already covered, and additional cash should only be left if they intended to do so.
  • Coupon scams
  • Discounts are a fantastic marketing tool. But they’re only good if the customer is aware of the deal.
  • Thankfully, your POS system can ensure all active coupons loaded into the system, and that they’re applied directly to an order, rather than after a cash transaction is complete.
  • Voided transactions
  • Except there are no guests behind those transactions – just wads of unaccounted cash. In a slow restaurant bar, this would never fly. But in a thumping nightclub with high ticket table service bills throughout the facility, a “mere” $500 discrepancy is a drop in the bucket for management, and an easy target for scammers looking to pad their own pockets. Even worse? Serving up complimentary drinks for cash transactions and pocketing the money but adding a tip to the jar as a cover-up.
  • The “Wagon Wheel”
  • In this scenario, a waiter transfers an item like a soda from one check to another prior to closing the tab when a guest pays in cash
  • Then, the next time a guest orders that soda, the server starts the ticket on that tab and continue to transfer the soda while they pockets the cash. Sometimes known as the “revolving soda,” this frequently happens with items like beverages where the server or bartender is preparing their own.
  • To avoid this, restaurant owner’s can monitor activity and behaviors such as low sales of server-controlled items like drinks, compare bartender performance over the same shift, or set restrictions requiring a manager to authorize any transfers.
  • The list goes on. But, thanks to loss prevention features built into modern POS systems, hospitality managers now have the ability to get ahead of scams being run.
  • By leveraging algorithms to identify patterns and suspicious transactions, such as increases in coupon redemption or notably low cash totals, and help you bore down to the source of the problems, before they get out of hand.
irinadolgopolova

Why It's Crucial to Use Accounting Software Built for Restaurants | QSR magazine - 0 views

www.qsrmagazine.com/...ing-software-built-restaurants

technology software accounting restaurant

shared by irinadolgopolova on 08 Mar 20 - No Cached
  • “Every business uses an accounting system of some sort, and every dollar should end up there,” says Tony Smith, CEO of Restaurant365.
  • it can be difficult for multi-unit operators using a generic accounting system to see if a certain vendor is billing above the contracted price or pinpoint specific ingredients that might be leaking money due to someone over-portioning a recipe
  • a true all-in-one accounting system is more useful for restaurants because it monitors inventory, pays vendors, reconciles bank statements, tracks fixed assets, forecasts scheduling, and produces financial statements.
  • ...2 more annotations...
  • According to Smith, most financial accounting systems focus on monthly or fiscal periods which provide a comprehensive breakdown only at the end of a particular cycle. But in restaurants, where the week is so important and sales for a month which has five Saturdays can be drastically different from a month that only has four Saturdays, it’s much more important to compare data on a weekly basis by using an integrated, restaurant-specific software.
  • By adding technology that provides better visibility and guidance, operators can greatly increase efficiency and tracking in their restaurants
  • nicolasdepinto on 08 Mar 20
     
    The article discusses how accounting systems specially designed for restaurants can better perform activities like monitor inventory, pay vendors, record transactions, do forecasting, and generate statements by integrating all this data in real time for management to use in their decision making. Using generic software that does not fully integrate all the information available can result in a less efficient operation, where employees spend more time performing their tasks, irregularities are missed, and important information is not analyzed. For example, when compiling information for decision making, most systems focus on a monthly or yearly basis for their data breakdown, while accounting software for restaurants should be able to do it on a weekly basis to adapt to thigh margins and nature of the business.
  • irinadolgopolova on 06 Jul 20
     
    The author talks about the importance of having a specific to restaurants accounting system. They also point out the importance of having a system that can send alerts in cases of suspicious activity or expenses not lining up with the inventory. They also say that it is important to have the ability to review reports on a day-to-day or weekly basis.
anaslip

Most companies taking 'wait-and-see' approach to coronavirus | CFO Dive - 0 views

www.cfodive.com/...573845

companies approach hospitality

shared by anaslip on 06 Jul 20 - No Cached
  • Most companies taking 'wait-and-see' approach to coronavirus
  • North American companies are bracing for negative business impact due to the coronavirus outbreak
  • Despite rising concern of the effect coronavirus will have on their businesses, most U.S. companies are taking a "wait-and-see" approach when it comes to adjusting their executive pay and sales compensation programs
  • ...6 more annotations...
  • Additionally, a survey from Gartner's risk management practice found that 56% of business leaders rated themselves as "somewhat prepared," for the outbreak, with 11% relatively or very unprepared.
  • Companies are increasingly expecting that the coronavirus will adversely affect their businesses. Yet, because the exact impact of the virus is uncertain, compensation committees and executives are not making immediate changes to their organizations’ pay programs — at least for now
  • 34% of companies expected the virus to have a "moderate or large negative impact" on their business over the next six months. 44% companies say their annual executive incentive plan has been or will be affected by coronavirus, but nearly one in five intends to adjust funding or targets for the plan.
  • A recent survey by Gartner’s risk management practice aligns with Willis Towers Watson’s findings; just 12% of Gartner’s 1,500-plus respondents believe their businesses are highly prepared for the impact of coronavirus, with 26% believing it will have a negligible impact at all.
  • 56% of respondents rated themselves somewhat prepared, and 11% said they were either relatively or very unprepared
  • It’s nearly impossible to predict exactly if or how a particular scenario will unfold or even when
  • anaslip on 06 Jul 20
     
    This article is a perfect example of this week`s topic. It`s a good illustration of a "wait and see" approach. The article gives you a lot of numbers to support its point.
jalipman

How Restaurant Operators Can Optimize their POS Investment in the COVID-19 Environment ... - 1 views

modernrestaurantmanagement.com/nt-in-the-covid-19-environment

shared by jalipman on 28 Jun 20 - No Cached
  • Perhaps they’ll see that they’re better prepared for contactless and touchless payment technologies of the future, or that customers are willing to share valuable data and feedback at the time of payment – or that they’re suddenly getting more value out of their POS investment than ever imagined.
  • oving forward, the protection of personal health will now be on par with protection of personal financial information.  Whether restaurant operators like it or not, these responsibilities are now table stakes for the restaurant industry and the new fundamentals for delivering the ultimate dining experience
    • jalipman
      jalipman on 28 Jun 20
       
      This is very valid it will open an entire new market for touch less safe POS systems
  • These financial and health assurances are vital to bringing diners back to restaurants, and to the resurrection of the industry as a whole. 
  • ...7 more annotations...
  • Through direct integration with the POS, restaurant operators can extend their POS to create a truly secure and touchless environment. This option is available for several well-known and widely used POS systems such as Aloha, MICROS, Squirrel, Dinerware and Focus – and can be utilized without the hassle of having to re-program menu items and prices, or retrain waitstaff.  It can also help operators avoid any changes to merchant processing or pricing.  
    • jalipman
      jalipman on 28 Jun 20
       
      The direct integration will be very helpful and create and ease of service that will drive people to go to restaurants more. The idea of safety and touch less environments will be a driving force in the food market from now on.
  • By using a fully PCI and EMV compliant pay-at-the-table device that extends the POS to the table, restaurant guests are empowered to use their phone to facilitate the transaction. With the simple scan of a QR code, guests can immediately launch a payment process that’s both encrypted and entirely touchless. 
    • jalipman
      jalipman on 28 Jun 20
       
      This aspect of the POS system will really make the dining experience virtually all from your phone. It may adversely affect the in person staff because it is a lot easier to tip less and leave honest feedback if you can do it from a distance.
  • he consumer can choose either to reduce contact with a payment system where they control their own credit card, or to eliminate all contact with a touchless payment option.  
  • It also represents one of the largest investments for a restaurant operator, so it only makes sense to explore how the investment can be leveraged to provide additional value. 
  • ow can their existing point-of-sale (POS) system and related technologies help to provide a safe environment with secure payments?
  • Despite these conditions, the expectations placed on restaurant operators are greater than ever.  On top of the everyday commitment to prepare great food, provide stellar service, and maintain an inviting environment, restaurant operators have, in recent years, been challenged to meet higher standards for protecting customer payment information – and now to preserve public health and safety.  The responsibility is daunting, some may say overwhelming.
    • jalipman
      jalipman on 28 Jun 20
       
      As we go further into the corona virus epidemic it is becoming even more evident that proper safety precautions are important. Using these POS systems is also difficult during a time like this because they are very high touch areas.
  • There have been many industries that have had to adjust to the new reality of COVID-19, but likely none have been more dramatically impacted than the restaurant industry.
ealmi001

Best Hotel Accounting Software in 2020 - 0 views

www.fundera.com/...hotel-accounting-software

technology hospitality software Tech

shared by ealmi001 on 01 Jul 20 - No Cached
  • ealmi001 on 01 Jul 20
     
    According to the article Best Hotel Accounting Software in 2020, if you own a small or medium-sized hotel group, check out Cloudbeds. Cloudbeds is an all-in-one property management, booking, and channel management system that boasts ease of use as one of its primary features: a must-have in order to keep your operations running smoothly. Unlike some competitors in its price range, Cloudbeds allows you to manage multiple properties all from one dashboard. It also serves as a point-of-sale, inventory management, and reservations management program
marble_bird

ContentServer.pdf - 0 views

shared by marble_bird on 07 Jul 20 - No Cached
  • The development of technology has made it easier for the traveller to book hotel rooms by the website. The number of online websites that provide services for the hospitality industry is on the rise.
  • According to Quinby and Jain (2012) (which research the OTA market in Australia, China, Japan, India, Indonesia, Malaysia, New Zealand, Singapore and Thailand), the Asia Pacific’s online travel booking on 2011 is estimated to be US$ 1,6 billion/year and predicted to rise 30% to 40% on the next periods
  • In the hotel industry, the internet has had a big impact on the evaluation of the distribution channel, which pushed the industry from a traditional operation (offline) to an online operation system
  • ...22 more annotations...
  • The use of the internet has changed the hospitality industry by helping organize, promote and market tourism products and services, as well as helping communication, online transaction, and distribution systems for hoteliers and consumers
  • With the growing number of hotels in Indonesia, the number of online websites which offer hotel rooms also increases.
  • this study examines the process of online hotel decision making by focusing on the effect of website quality on the customers’ e-Trust.
  • The two key issues we wish to examine are: (1) whether customer’s perception of the website’s usability influenced e-Trust; and (2) whether customer’s perception of the website’s ease of use influenced their e-Trust.
  • Nowadays there are more travellers than ever that search the internet medium for information of the tourist destination and the process of booking the trip, as evidenced by the increase of information access through the search engine and social media and also online hotel booking
  • A hotel’s website is not only an information channel but also a trading form, where it not only provides news and data, creates a brand image but also works
  • as a sale tool. But this ease does not come without a weakness. Communication by the internet creates uncertainty and risks have become an intrinsic attribute of e-commerce from them complexity and anonymity of online purchase.
  • A good website must be easy to use, understandable, and navigate well (Aziz, 2014). The easiness of using the website’s features can influence the customer’s interest in using the online service and push their booking intention
  • Because OTAs are such an important channel for hotel distribution, the industry should pay close attention to the way hotels are presented on OTA web pages.
  • The level of usability of a website will determine whether a user will stay or leave to find another website
  • website quality becomes the main factor in e-commerce because the perception of the website quality will trigger the customers’ purchase intention directly.
  • The ZEN Rooms website effectively delivers information and adopted a good interaction design to make sure consumers can easily navigate the website and find useful information.
  • Usability refers to whether a hotel’ s website can provide sufficient information about the product and the service, while ease of use showed the level of which a hotel’s website is easy to navigate and customer-friendly.
  • e-Trust is the consumer’s trust or confidence that the seller will not abuse the consumer’s vulnerability .
  • Sparks and Browning (2011) found that consumers depended on the easiness of information processing while evaluating a hotel based on online reviews.
  • risk-taking behaviour based on consumer’s positive expectations of a hotel’s website was called e-Trust. E-Trust plays an important role in online booking because of the risk that comes with online service
  • A hotel’s website that has good usability has a significant result on the consumer’s e-Trust. This finding is in line with previous study from Bai et al. (2008) and Wang et al. (2015) which also stated the significant impact between the usability variable towards online booking intention, where the higher a website’s usability was, it automatically affected customer’s e-Trust and willingness to make an online hotel booking.
  • The effect of usability of the website and ease of use of the website on e-Trust among participants of this research is elaborated upon in Table 1. The data in this table display the outcomes of a multiple linear regression analysis.
  • The other variable in this study, which is the ease of use, did not have any significant result on consumer’s e-Trust. This finding is different from previous studies conducted by Shen and Chiou (2010) and Venkatesh and Agarwal (2006) which stated that a website’s ease of use could help consumer’s online booking intention.
  • There is no significant impact between genders and e-Trust. The findings of this research propose that gender does not play a significant role in the attention of guests toward e-Trust and both genders are highly confident of having online booking purchase of hotel rooms.
  • The current study is not without limitation, such as the scope of the research. Future studies could conduct similar research but through a mobile application instead of the website. The internet keeps developing and there are changing platforms from website to mobile application so the use of mobile in the hotel industry is unsurprising and expected
  • The importance of having information towards the relationship between a website’s usability and consumer’s e-Trust is essential to help maintain the attributes of a website’s quality to keep consumer’s e-Trust of the hotel.
  • marble_bird on 07 Jul 20
     
    This article covers an Indonesian study performed to study factors that influence online bookings of consumers. The main factors considered in the study were the perceived usability of the website and the ease of use. The study found that perceived usability influenced the decisions of the consumer, while the actual ease of use did not.
jackyreis

10 Hotel Management Software Tools To Boost Efficiency - 0 views

www.socialtables.com/...hotel-software

shared by jackyreis on 24 May 20 - No Cached
  • Finding the right software to run operations such as automated check-ins and concierge services is a big key to hotel efficiency.
  • In fact, EZee Frontdesk is rated among the fastest growing softwares in the property management realm. Plus, it makes linking of smart devices such as tablets and smartphones possible, which adds its versatility.
  • Hotelogix is used in over 100 countries worldwide
  • ...7 more annotations...
  • Hoteliga is a cloud-based hotel management software that makes invoicing, hotel reservation, revenue control and customer management as easy as possible.
  • Maestro offers hotels and hospitality establishments a host of cloud-based solutions spanning front desk, hotel reservations, POS, and event management.
  • Additionally, the software is available in nine languages and allows the integration of third-party software such as Jovago and TripAdvisor.
  • FCS Cosmo tools give hoteliers the power to create a seamless flow of data used for reservation confirmations, front desk operations, and real-time monitoring of resources. That’s why it’s a great choice to optimize room-assignment efficiency and simplify check-in.
  • Cloudbeds is a hotel management software designed to simplify hotel operations management via its integrated management suite.
  • That suite includes reservation management, room assignment, accounting, and housekeeping tools.
  • Tracktik is an intuitive piece of software that allows hoteliers to manage perhaps the single most important resource in any business: the workforce. It lets your management keep track of your teams and makes sure the business stays efficient.
sharline86

This Week in Green Tech: How COVID-19 Will Affect the Renewable Energy Industries > ENG... - 0 views

www.engineering.com/...newable-Energy-Industries.aspx

shared by sharline86 on 25 May 20 - No Cached
  • Economic recessions tend to result in lower energy usage as travel and energy consumption decrease.
  • This will create cash flow problems for utilities, which will be exacerbated by the fact that many low-income customers will likely struggle to pay their utility bills for a while.
  • It’s likely that projects already underway will be completed, but concerns about the future may delay some utilities’ plans to increase their renewable energy portfolios.
  • ...6 more annotations...
  • ome of that funding will undoubtedly be invested in smart grid technology (essential to large-scale sustainable energy) and
  • microgrids, which frequently make use of renewable energy sources.
  • Economic uncertainty will likely lead many consumers to delay large capital expenditures, causing a temporary downturn in rooftop solar installations.
  • Residential sales and installations will continue, however, which leads to concerns about worker and customer health and safety.
  • Some analysts estimate that wind farms, which normally operate at 95 percent capacity, could drop to just 85 percent capacity due to travel issues related to COVID-19. And much like solar, new wind farms could be delayed because of factory shutdowns, travel restrictions, and investor concerns.
  • In general, we can expect the renewable energy industry to experience a slight setback during the next year or two, but it’s already gained enough momentum to keep moving forward, regardless of short-term slowdowns.
  • sharline86 on 25 May 20
     
    Engineering.com explores how renewable energy industries will operate post COVID-19. With focus on: Utilities, Solar, & Wind Power.
ghoafat

Exploring new opportunities on the web for hotels | PhocusWire - 0 views

www.phocuswire.com/tunities-on-the-web-for-hotels

shared by ghoafat on 26 May 20 - No Cached
  • e(Facebook)commerce
  • s more consumers spend time on the Internet, the emergence of social networks is making a significant impact on the hospitality industry and commerce.
  • becoming an e-commerce portal.
  • ...6 more annotations...
  • The hospitality industry is joining others by using Facebook as a sales and marketing tool to reach potential clients by designing booking engines within Facebook.
  • hese booking engines launch from a hotel’s Facebook page, and allow users to view the property, pricing, and book a reservation
  • many retailers have designed and engineered mobile apps that allow consumers to view and purchase products on smartphones, much like they would if they were on a PC.
  • Optimizing a hotel’s website to be a mobile booking engine accommodates the traveler and gives the hotel another channel to reach the customer.
  • Currently, 1.5 to 2% of hotel bookings originate from mobile sources
  • Without an optimized CRS that can handle implementing and utilizing mobile apps, Facebook booking engines, inbound calls, reservations from the hotel’s site and reservations from OTAs the reservation strategy would be fragmented and opportunities for increased revenue missed.
  • ghoafat on 26 May 20
     
    This article is interesting because it talks about how the hospitality industry and e-commerce have merged. Technology is continuously evolving nowadays and hotels need to keep up with new ways to reach more customers. They are now using e-Facebook commerce to market themselves. With the ever increasing usage of smartphones, the hotel industry has developed mobile apps for customers to do business through there. These strategies are both very effective and time efficient.
anonymous

E-Business: The New Management Challenge - A Peer-Reviewed Academic Articles | GBR - 2 views

gbr.pepperdine.edu/...s-the-new-management-challenge

shared by anonymous on 26 May 20 - No Cached
  • The Internet is turning business upside down and inside out.
  • This article will examine the roots of this e-business movement and the key challenges it creates for managers who must move rapidly to adapt to the new competitive forces of the network era.
  • Fed-Ex was an early mover in implementing this concept when it initiated the service that allowed customers to track their packages on the Web.
  • ...23 more annotations...
  • E-business is an evolutionary step in the convergence of the business process redesign movement
  • “anytime, anywhere;”
    • anonymous
      anonymous on 26 May 20
       
      Tis is defiantly the mentality of people raised around technology. If I can't get what I want , when I want, then I DO NOT WANT IT.
  • lowering inventory costs and eliminating the risk of stale products on the retailers’ shelves.
  • The Web now provides a new channel of distribution that allows producers who formerly had to go through retailers to reach the end user directly.
  • new online stores have, in turn, increased demand and the number of users, putting pressure on traditional retailers to create an e-commerce presence as well.
  • Management Issues
  • Developing a corporate climate for adapting to the network era.Understanding customer expectations.Analyzing the firm’s ability to manage information technology.Recognizing the time frame in which these changes must be made
  • By linking retail data directly to the manufacturing site
  • new pragmatic issues to address
  • Providing security for the customer is crucial,
  • benefits include the option of developing a number of applications concurrently instead of being limited to in-house resources
  • the Net is giving rise to numerous “infomediaries” – some of whom play the role of “information broker” or “market maker” and others who perform information-handling tasks.
  • eWallet acts as an information-handler by providing online purchasers a way to automatically provide their information to any vendor.
  • almost all E-business success stories are characterized by new ventures whose founders recognized the vulnerability of going concerns that were not adapting to these opportunities.
  • E-commerce continues to expand consumer choice by providing the tools for them to switch suppliers instantaneously, including the ability to quickly and easily make price comparisons.
  • Web technology is characterized by rapid breakthroughs in software and hardware.
  • application solution providers (ASPs) who offer an opportunity for firms to outsource their IT management.
  • Fraud is higher in cyberspace than in traditional retail and harder to detect.
  • experience with Internet initiatives has been the urgency to develop and implement competitive Web strategies.
  • Similarly, Barnes and Noble took a “wait and see attitude” toward Amazon and now finds itself having great difficulty in increasing its market share of Web sales.
  • the cost barrier to entry in the web market is virtually zero
  • small new companies do not have a formal infrastructure through which strategic ideas get squandered.
  • The management task is to leverage these opportunities quickly to sustain or enhance competitive advantage.
  • anonymous on 26 May 20
     
    This article talks about the importance of having an online presence. It is imperative that businesses leverage their business opportunities online before they are gone. It talks about key issues managers deal with during this network era. Such as "understanding customer expectations", "analyzing a firm's ability to manage information technology" and moving quickly enough to implement the changes necessary to actually benefit the company. In 2020, if businesses do not have an online presence they might as well not exist. Especially when customers have a "right now" mentality. This article helped me understand the issues that are arising with companies not being involved in e-business.
qszero

ECommerce in Hospitality and Tourism Industry - 0 views

studybay.com/...spitality-and-tourism-industry

shared by qszero on 28 May 20 - No Cached
  • The process of mass production hasn't been accepted in the travel and leisure industry; therefore custom-made services are essential for survival.
  • The hospitality & tourism internet future implies a general system where property management systems will get rid of the need for expensive on-site computer hardware/software.
  • The core deals of our business involve close face-to-face interactions, which have certain limitations in regards to the utilization of e-commerce in the hospitality industry compared with other enterprises
  • ...15 more annotations...
  • Hospitality and travel and leisure organizations should be up on every one of the latest technology, to be able to understand a competitive benefits on the market especially in the long-term. One major obstacle for all online travel agents is in evaluating how their goal customers are employing their personal computers.
  • Information Technology tools have allowed travel intermediaries to broaden their role in the industry by showing opportunities to endeavor into other markets on a geographical level.
  • As low cost computer real-time data, fast rate internet access, words and video communications become a fact, travel firms may no longer be needed.
  • In basic Asia is currently experiencing some troubles in the e-commerce revolution, especially on the B2C area due to the fragmentation of the marketplace.
  • Another e-Commerce model such as Public sale style-pricing models have become customer preference, where in fact the customer have the ability to control the price of the products and services to be used.
  • The trends of Hotel websites were created with many picture graphics that allow visitors to inspect the service, lobby, grounds, guestrooms, and amenities aesthetically.
  • The Internet is not the entire method for success in the Hospitality and Travel and leisure industry. However, the web is the "overall business answer" across sectors.
  • However, before put into action e-Commerce, one most important thing to be considered on hospitality and tourism organizations is the central business in this industry requires to consist mainly of interactions (guest relations) with customers and build of memorable experience F2F (face-to-face).
  • Most of computer networks contain 3 major areas: leading end and the trunk end and Firewall.
  • C2C transactions entail several consumers (customer-to-customer).
  • B2E transactions require a business and its employees.
  • B2B transactions involve business-to-business.
  • B2C transactions involve business-to-customer interactions.
  • Electronic business (known as e-commerce) is a wide expression that can be used to describe the actions of businesses or commercial organizations. It included connection and exchange that take place via telecommunications multimedia to provide function, production or service to others.
  • New solutions are providing different channels for marketing and management that improve the capabilities of world. And pcs are providing faster and even more reliable processing with lower cost continually.
  • qszero on 28 May 20
     
    This was more of a blog discussing the impact of E-Commerce in the hospitality industry breaking it down to it's 4 forms of trade it can occur. It breaks it down to the 3 technical components computer networks provide and how taking into account these components e-commerce integrates itself in the industry. It was also interesting reading how this has increased a high demand in IT to service customers as hospitality organizations have to rely on efficiency in both internal and external interactions. It also discusses how his system isn't as strong in Asia and lastly the security importance and challenges it carries.
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