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anonymous

Impact Of E-Commerce On The Hospitality Industry | YOSAKI - 0 views

www.yosaki.com/ce-on-the-hospitality-industry

technology hospitality eCommerce

shared by anonymous on 10 Sep 19 - No Cached
  • E-commerce has now become a very important and basic part of people’s lives and since it is the selling and buying of products and services via the internet it has not only impacted on the business industry but the hospitality industry as well.
  • The hospitality industry being one of the most essential industries must move together with the evolving world in order to fully satisfy consumers and this has brought an unavoidable combination of E-commerce and hospitality.
    • anonymous
      anonymous on 10 Sep 19
       
      Society is constantly changing and a big part of that change is due to technological advancements. In order for the hospitality industry to move forward and keep up with society it must stay up to date with these changes and make constant improvements in the system.
  • E-commerce creates quick access to the hospitality industry as it markets the best services so that people don’t have to waste too much time looking for where the best hospitality services are.
    • anonymous
      anonymous on 10 Sep 19
       
      People want to be able to access what they are looking for or what they need quick and easy.
  • ...19 more annotations...
  • As tourists look for the best places to tour on the internet they are also provided with hospitality facilities such as accommodation (hotels), social functions, foods and cultural attractions among many others  that are displayed all over the internet.
    • anonymous
      anonymous on 10 Sep 19
       
      The hospitality industry and tourism seem to almost work hand in hand through eCommerce as this example shows.
  • From a mobile phone or computer it is now very simple for to look up for where they can find the best services
  • The hospitality industry is majorly dependant on wildlife and natural scenes which are very easy to advertise through E-commerce
    • anonymous
      anonymous on 10 Sep 19
       
      Being advertised through the internet gives them a better chance of having more people find them and want to use their services. People expect to find everything online.
  • Since customers can know whatever they need to know through internet, all extra costs have now been eliminated yet made everything more convenient and thus leading to a really drastic rise customer satisfaction.
    • anonymous
      anonymous on 10 Sep 19
       
      eCommerce makes transactions faster by allowing guests to pay immediately for their services and since all information is available online they can have anything they need to know available for them right there. Thus it is understandable why customer satisfaction has increased.
  • When using the internet it is super fast and easy for a customer to get into contact with the supplier of the particular service or product that they need. Using emails and different social media app chats communication which is one of the key issues in developing the industry has greatly been simplified.
    • anonymous
      anonymous on 10 Sep 19
       
      For customers it is very important as well to get in touch with their suppliers for any questions or concerns that they may have. When they contact them they expect to be able to do so fast and just like that they also expect a quick response from them.
  • Through the various web services, customers have been motivated to try out the most famous hotels and inns no matter how far they are and also people who were never interest in travelling are encouraged to go to destinations far away.
  • Everyone loves to have various options to pick from in order to have their needs perfectly satisfied and that is exactly what e-commerce has brought into the hospitality industry
  • All a company needs to reach out its ideal customers is create a website through which it can offers its services directly to customers, display each and every service they offer and also the necessary conditions and requirements without having to pay extremely high costs for it.
    • anonymous
      anonymous on 10 Sep 19
       
      This reduction in cost makes more hospitality industry want to try eCommerce. Then with this extra money that was saved up, the company can invest it in something else to improve their services or to add things to their inventory.
  • Most of the companies that deal in hospitality services now allow customers to have their places of stay booked earlier, they make the payments online and have all of the details including where to find tickets, how they will be welcomed, what is required of them and so much more.
    • anonymous
      anonymous on 10 Sep 19
       
      Now that all the information is available online it makes it easier for the guests to be informed beforehand and have some knowledge as to what to expect. eCommerce makes finding information about the services effortless.
  • Much as they work hand in hand with other industries it is now an independent industry of its own
  • Each and every company puts out their rates in the open giving customers the advantage of comparing prices before they can actually go on to spend the money.
    • anonymous
      anonymous on 10 Sep 19
       
      This a very important thing for customers. People like being able to compare prices in order to choose the one that saves them money. They also want to be able to make the right choice in terms of what is really worth their money. But of course this means more competition within the hospitality industry.
  • Through the bookings and reservations done from the internet customers end up giving out way too much information something that has become overly dangerous as it exposes innocent customer’s information to unauthorized that end up using it for in wrong ways and for the wrong purposes.
    • anonymous
      anonymous on 10 Sep 19
       
      Some people may also have their concerns and preoccupations about eCommerce and how safe it is. Nobody wants their personal information to end up in the internet for everyone to see and possibly steal/use.
  • E-commerce has created a world where it is extremely easy to rob, steal, kidnap and even more criminal offences such as killing among so many others.
  • The owners of such places must put strict security and warning on such attractions or else suffer with the unruly members who may use them recklessly.
  • Marketing countries with overly attractive facilities has become a threat as it has overly attracted the wrong crowd, not everyone that travels into a country come into the country with the best of intentions.
    • anonymous
      anonymous on 10 Sep 19
       
      This is another possible side effect of advertising in the internet. Everyone nowadays has access to the internet and therefore can see all this information and as is mentioned here not everyone has good intentions and could turn something pleasant into something offensive and hateful. One just has to be very careful with these things.
  • The internet attracts all sorts of people since it puts out way too much information and the same way hackers get into other online businesses they have also managed to get into the hospitality industry and caused innocent countries to face huge problems with such people.
  • Since the customer never gets to meet personally with the owner of the service, a seller can easily provide them a service different from what they actually wanted, some do this by mistake while others do it intentionally due to lack of ethics.
    • anonymous
      anonymous on 10 Sep 19
       
      This a very common things that does happen maybe very often depending on how well the communication between the customers and the suppliers goes. Sometimes customers end up paying for a service that wasn't exactly whet they wanted or whet they needed. This then leads to customer dissatisfaction and to poor service.
  • Service providers need to check their services to ensure that they deliver customer satisfaction
  • In conclusion, e-commerce has increased the popularity of the hospitality industry through the different ways of marketing its facilities and making them more accessible to the customers who are mostly tourists and people who enjoy lives of leisure and luxury.
  • anonymous on 10 Sep 19
     
    This article talks about both the pros and cons of eCommerce in the hospitality industry. It talks about how it has changed and helped the industry but also the side effects that it may have.
anonymous

6 Top Benefits of Property Management Software | TEC - 0 views

www3.technologyevaluation.com/...f-Property-Management-Software

technology hospitality software pms

shared by anonymous on 01 Oct 19 - No Cached
  • Property management software (PMS) offers so many advantages that there's really no longer a reason not to deploy it.
  • Cloud-based software can alert you to a problem immediately as soon as a work order is added to the system.
    • anonymous
      anonymous on 01 Oct 19
       
      1. Maintenance Dealing with maintenance issues almost immediately can help you keep your hotel in its prime state. Also in apartment buildings it is important both for tenants and the staff to resolve their maintenance issues as soon as possible because it is an inconvenience that nobody wants to deal with for too long.
  • This kind of system also guarantees integrity on the part of your contractors. Constant access to a cloud database of work orders allows you to schedule work and ensures that you'll know when something wasn't done on time.
  • ...18 more annotations...
  • Use of this software won't require a property manager to look through anything that would be considered an unreasonable invasion of privacy. It can also remind a landlord if it would be illegal to reject an applicant because of something the landlord considers questionable.
    • anonymous
      anonymous on 01 Oct 19
       
      2. Tenant Applications & Screenings Using this software can help the tenant selection process be more secure. It'll make the living environment a safer one because the management will know exactly what kind of people live in their residency. The system will also be a more accurate one with PMS.
  • PMS apps always receive regular updates, so you'll never be out of the loop as far as these legislative changes are concerned.
  • The software can also ensure that all applicants are asked the same questions. This protects you by ensuring you don’t forget or overlook an important questions, and protects the applicants by ensuring they are not singled out for additional discriminatory inquiries.
  • Accepting rental payments online makes things easier for your tenants and yourself. Letting a tenant pay online can eliminate the need to visit them in person or to maintain regular office hours, and can save you time that would otherwise be spent accepting, sorting, and depositing checks.
    • anonymous
      anonymous on 01 Oct 19
       
      3. Online Payments Living in a building complex that allows for online payments makes things so much easier for both tenants and management. Most if not all of the residents prefer to make payments through a system online instead of having to in person and make the payment in the office. Plus having the option to make automatic payments saves some residents from late payments.
  • automatic payments
  • payment tracking and easily accessible records
  • Many property management tools give you the option of automatically logging financial data, which takes all of the guesswork out of the task.
    • anonymous
      anonymous on 01 Oct 19
       
      4. Data Tracking & Report Generation PMS makes tracking things such as the financial information a little easier. It'll show you reports about your finances.
  • Using PMS apps in this way might help you get a handle on what aspects of your venture need to be changed to boost your ROI.
  • Business intelligence
    • anonymous
      anonymous on 01 Oct 19
       
      4. Business Intelligence This could help you keep track of patterns that you weren't aware of. It can help you work out strategies to improve.
  • includes strategies on how to best analyze large amounts of data, as well as the technology used to do so
  • By applying business intelligence technology to these sources of data, you can mine them for patterns you might never know existed. For instance, you could potentially find a correlation between certain times of the year and spikes in overall maintenance costs.
  • For example, weather could be causing damage to your property, which would necessitate an increase in work orders. If this is the case, then the business intelligence interface should have collected relevant stats on the numbers of orders made out in each month.
  • Doing background checks on new applicants and then reading a financial report can really help when it comes to preparing for the future. One of the big advantages to using PMS technology is that you're able to act on this information instantly.
    • anonymous
      anonymous on 01 Oct 19
       
      5. Business Running Smoothly PMS can help you keep track of everything going on within your business, from who is currently living in your buildings to verifying the vendors that come in to the building.
  •   Residential property managers may use these features to keep tabs on everyone who lives on the same property
  • This kind of technology is also useful for keeping tabs on certified vendors who you can order repair parts from without violating any warranties.
  • ensure that you'll stand out from the competition as soon as you pick a PMS app
    • anonymous
      anonymous on 01 Oct 19
       
      6. Standing Out PMS can really help you see the areas in which changes need to be made. By making these changes your are ensuring that improvement is being made therefore keeping your business at its best.
  • Marketing information collected from analytical data will also help you to know where you need to focus your promotion efforts the most
  • you'll be able to compare recent sets of data against older ones to see if they've been through a positive change or not
  • anonymous on 01 Oct 19
     
    This articles discusses the top 6 benefits of having PMS in your business and their importance.
leahesper

How E-Commerce Changed Our Lives Forever | HuffPost - 0 views

www.huffpost.com/...commerce-changed-our_b_4045340

e-commerce internet online experience data management systems Technology hospitality hotel software business solution Travel tech mobile

shared by leahesper on 22 Sep 19 - No Cached
  • The most successful e-commerce websites are designed to define clients’ needs and expectations, then exceed them by delivering an impeccable online experience.
  • From data management systems to mobile and social optimization, all aspects of e-commerce come together toward a single goal: satisfy the client and earn his loyalty.
  • According to research, improved e-commerce usability means increased sales.
  • ...1 more annotation...
  • For customers, everything has changed: the way they shop, travel, research and communicate. E-commerce has revolutionized the business world, and now it’s reshaping its future.
  • leahesper on 22 Sep 19
     
    This article talks about the ways in which e-commerce has changed and evolved the world around us. The way we used to do things will never be the same due to the emergence of e-commerce. The way we book trips especially. Improved e-commerce has been wonderful for businesses as it has proven to create more sales.
yyr997

Importance OF GDS for Travel Agents and Tour Operators - 1 views

www.orisysinfotech.com/article_importance-of-gds.php

shared by yyr997 on 29 Jan 18 - No Cached
  • Popular GDS Systems in Travel Industry
  • Amadeus 1987 Iberia, Air France, SAS  and Lufthansa, Strongly based in Europe, Mid East, North Africa & Asia Pacific Galileo 1993 Galileo was Founded by a combination of 11 most significant North American and European airlines conducted by United Airlines. Currently owned by Cendant Corporation It has a strong web-presence in US and Western Europe. Sabre 1976 Initially it was founded by American Airlines. Currently Sabre is a separate entity owned by AMR corporation very strong  Global presence in US and Asia Pacific Worldspan 1990 Worldspan was founded by Delta, TWA, and North West Airlines. Further it was being sold to Transaction Processing Corporation. Mainly in the US and Europe
  • Please find few of the benefits of  Global distribution systems: The Use of Global distribution system shows a rise across corporate and leisure travelers GDS is highly effective in alluring the international travelers. This is the reason why using of GDS among the travel agents is growing exponentially every year. OTAs have greatly improved the travel shopping experience and convenience for consumers and have increased pricing transparency. GDSs enable the retail travel agency and OTA business models. The GDSs enable the travel agents to make their travel services available to consumers globally where they might not otherwise be able to achieve efficient worldwide market penetration through direct marketing efforts. Booking through Global distribution system is most preferable for  corporate travel agents as a suitable reservation process for holidays,  air, hotel and rental cars. Travel agents can get global platform for their business with strong market penetration Global distribution system is the base to  enter into corporate clients across the world GDS is the ability to update the status of inventory  in real time.  Due to its real-time  status update capability managers can view rates change and  can easily alter price points or make special offers. Agents can view all the changes instantly and will be able to suggest the new updates and offers to clients without any interruption to make the deal.. Its a wise decision to invest in a GDS. The system places your holiday booking services and inventories in front of  huge  clients without affecting  your marketing budget.  The unique selling point of GDS is that it Can provide best rates to your guests, which no other systems can provide.  Your gusts can find packages that include a hotel stay, air travel and car rental
  • ...6 more annotations...
  • 2015 is going to be a successful year for travel agents using global distribution systems for bookings. According to Travel-Click research the bookings through GDS is projected to 62 Million, which was 61 million in 2014 and 42 million in 2009.
  • Having a mobile optimized tours and travel prortal is the most efficient way to find both local  and international hotels, airlines, holidays and car rentals on short notice.  Its a big change in consumer behavior to switch over to mobile. Shifting to mobile search is already being started and reflects of changes can be apparently measured.
  • GDS is a computerized web service that provides pricing, real time availability, centralized data display with  reservation functionality to the global travel industry in a very unified process.
  • GDS is highly effective in alluring the international travelers.
  • Global distribution system is the base to  enter into corporate clients across the world
  • GDS is very huge and it will create robust ecommerce platform for travel industry.
  • sliu043 on 29 Jan 18
     
    As we all know, GDS is an online system known as global distribution system, which delivers worldwide data, rates, inventory, offers, real-time availability of airlines, hotel rooms, car rental, bus tickets to bridge the gap between tour operators and travel bookers. The article has introduced the most popular GDS systems in the industry and their strong advantages. In addition, it also reveals the reasons why the industry still uses GDS and the importance of it. In one word, GDS is highly effective in alluring the international travelers with the development of information and technology. It enables the travel agents to make their travel services available to consumers globally where they might not be able to achieve efficient worldwide market penetration through direct marketing efforts.( The article has also given a future prediction about GDS. According to the statistics, GDS will rule the travel industry if it keeps continuing the ever changing needs of airlines and hotel industry.
  • yyr997 on 29 Jan 20
     
    GDS is very important in the tourism industry. Even if the company creates its own direct sales channels, the impact and benefits of GDS are considerable. Making good use of the advantages of GDS can create word of mouth and revenue for the company in the hospitality industry.
richardkutch

Three ways tech is transforming accounting | Accountancy news | ICAS - 1 views

www.icas.com/...hnology-is-changing-accounting

accounting technology

shared by richardkutch on 30 Sep 17 - No Cached
  • Cloud computing – running applications online rather than on customers' own premises – is one of the most important developments in information technology in the past 10 years.
  • "The use of a true software-as-a-service model allows the development team to evolve the product rapidly,"
  • "That's especially important when it comes to keeping systems up to date with changing tax legislation."
  • ...5 more annotations...
  • Some experts are sceptical about cloud-based tax software. One of the main concerns is the security risk involved in putting customers' data in the cloud.
  • The main risks are accidental loss of data, particularly during a power cut, and hackers getting hold of information.
  • The main reason for changing software, of course, is to keep up with tax law, such as the introduction of the "real-time" pay-as-you-earn tax system in 2013.
  • Being able to access tax and accounting data remotely is also useful.
  • Accountants and business are demanding more from their software. More analysis, more interaction between an accountant and their client, and easier access to information when out of the office
  • richardkutch on 30 Sep 17
     
    This article talks about cloud computing, mobile access and advances in tax software. It refers to the concerns about security with cloud-based tax software. Is it worth risking? Is there really a risk or is it just irrational fear? And doesn't it make it easier when tax codes change that cloud-based tax software would be updated for you? Mobile capabilities and mobile working are interesting. the ability to record expenses on the go and check financial data and manage accounts using a mobile device are very appealing features.
mvinco18

Technology in Hospitality, Evolution, Innovation and Guests. | By Martin Soler - Hospit... - 1 views

www.hospitalitynet.org/...4102024.html

shared by mvinco18 on 07 Mar 21 - No Cached
  • The future of innovation in guest experience is through technology.
  • Today we have over four billion computer users, most of them using a smartphone.
  • The future of hotel guest experience is based on how good your technology is. Let me explain.
  • ...6 more annotations...
  • today a lot of that experience happens through technology.
  • people aren't accustomed to waiting anymore.
  • As I mentioned previously, hotels are experience companies; they deliver an experience.
  • We should expect our industry to see a milestone innovation in the coming few years,
  • (significant processor change in a mainstream computer).
  • The next frontier in hotel comfort is going to come from technology.
  • mvinco18 on 07 Mar 21
     
    This article focused on how technology is changing the type of accommodation that hotels need to have for their guest. it focused on the different changes that the hotel industry have gone through so that they can give their guest the best experiences possible.
mperk010

Tech trends and how the hospitality industry is changing for good: An executive panel -... - 2 views

www.bizjournals.com/...itality-industry-changing.html

shared by mperk010 on 03 Mar 21 - No Cached
  • Examples abound. Hotelier Sonder launched its Miami operations pre-pandemic and its model provides a smooth, touchless experience. Booking, sign-in, even contacting customer service at its properties is done via app, Artmann said.
  • “Knowing that everything from now on is unknown the elevation this season we are in will remain a type of normal and adapt as we do,” he said. “Covid-19 for any hotelier has been a rollercoaster of everlasting changes. The key has been to remain flexible and open to creating new ways of doing old tasks. We aren’t re-inventing the wheel, but we are accelerating with it.”
  • Many relied on technology already in place. Loews Miami Beach Hotel had contactless applications in place, including a live texting service that connects a guest with team members on property for various needs and informs guests about events, promotions and other happenings on property.
  • mperk010 on 03 Mar 21
     
    "The pandemic challenged the hospitality industry like no event before. All elements of business and leisure travel, from lodging and ground travel to food and beverage, were immediately shuttered. Though slow, recovery has returned for some"The article talks about how Covid has impacted the hospitality industry and how they are using technology to change the new normal. For the business that do not adapt and use technology to help them through these tough times they may never recover.
balle028

6 changes to customer experience you'll see this year | AZ Big Media - 0 views

azbigmedia.com/...experience-youll-see-this-year

shared by balle028 on 05 Jun 21 - No Cached
  • The customer experience in particular is facing major changes. In large part this is due to the events of 2020. The expectations for quality customer experience have gone up tenfold. So it’s more important than ever for companies to find new ways to meet their clients’ needs.
  • The rise of remote work was a hot topic throughout the COVID-19 pandemic. The customer service sector was no exception. Companies quickly found that agents could answer inquiries and solve customer problems just as effectively from home as from the office. There are many reasons that companies will want to continue this model even after the COVID-19 threat passes. For starters, a remote team can be a lot cheaper than a group of in-house employees. That’s because you don’t have to pay for the physical office space. Plus, call center software solutions allow agents to ask questions and share experiences in an instant.
  • he prefix omni- means “all.” For example, someone who is omniscient knows everything. So omnichannel means that customers can reach you through social media, email, phone, video call, or text message. All of those messages will be received in the same location.
  • ...5 more annotations...
  • Successful customer interactions are often determined by how long it takes to resolve an issue or answer a question. The faster you can help, the happier customers will be. This is why more and more companies are implementing artificial intelligence as part of their customer service strategies.
  • Using AI, chatbots collect and use customer data to offer better service. Best of all, chatbots don’t need to be paid and never take a break. They can provide 24/7 assistance to early birds and night owls alike.
  • Personalization
  • 5. Increased Focus on Self-Service Options
  • A simple example is inventory. Companies can use past sales data and predictive analytics to determine how much product they need to keep in stock. Predictive analysis will account for factors like seasonal demand and demographic data to keep the right items on your shelves at the right times. And that will definitely improve your customer experience. Businesses live and die by their customers. While keeping up with new expectations can be daunting, making these six changes can help your business thrive. Make sure you’re prioritizing the customer experience, and the necessary changes will come naturally.
  • balle028 on 05 Jun 21
     
    This article goes into certain trends that will take place this year within the hospitality industry with the use of AI. Thanks in part to last years shutdown, many companies have now readjusted they way they approach business.
akallison93

Panera tests ghost kitchens, mobile kitchens, virtual catering - 0 views

www.nrn.com/...-mobile-kitchens-and-unveiling

ghost kitchens catering hospitality

shared by akallison93 on 17 Jan 21 - No Cached
  • Coming off a year of innovation during the pandemic, Panera Bread is looking to go all-in on convenience technology in the future, with ghost kitchens, mobile kitchens, virtual catering, and redesigned drive-thru lanes already in the works
  • ted about
  • “We are excited about creating our vision of the next generation of Panera,” Chaudhary said. “This next generation [of Panera stores] will use 5-6 disruptive ideas to drive greater customer engagement.”
  • ...7 more annotations...
  • “These are the kinds of things we are thinking of recreating and redefining for the Panera of the future, which is going to be more off-premise-oriented, and led by technology and convenience,”
  • Besides smaller physical footprints, other aspects of Panera 2.0 will include delivery-centric ghost kitchens and mobile kitchens
  • An online version of catering will look like all of us sitting around a Zoom meeting with our food arriving at the same time
  • That is a disruptive way of serving the same needs consumers have in a different way that is more convenient and relevant in a world that looks different.
  • The pandemic has changed the way operators should approach convenience technology
  • Chaudhary said they’re looking at other forms of technology like touchless kiosks where instead of tapping a screen to place their order, customers might use hand gestures instead like giving a thumbs up, for example. This way, they can leverage consumer needs for contactless experiences without sacrificing engagement.
  • A disruptive model is a hybrid of both [third-party and in-house delivery],” Chaudhary said. “We might leverage our existing drivers for orders and every time we need some help, we can outsource it. These are examples in this new world of us being able to innovate, to improve and strengthen our business model
  • akallison93 on 17 Jan 21
     
    The article explains how Covid-19 has affected the dining industry and how companies have to adapt. In this article, specifically, it talks about how Panera is implementing ghost kitchens, changing how they approach catering, and how they can keep their consumers safe in a post Covid-19 world. Many hospitality based businesses are changing the way they operate, permanently, because of the pandemic.
shanegmark

Online booking history: CRSs, GDSs, and online bookings | AltexSoft - 1 views

www.altexsoft.com/...encies-and-online-reservations

shared by shanegmark on 27 Jan 20 - No Cached
  • For 2019 online booking experienced several minor enhancements, generally connected with overall technical progress. Online payment systems became much more secure, providing fast processing, or even transactions with cryptocurrencies. A common mobile application now allows a leisure customer to plan a week-long trip in minutes, book flights, hotel rooms, and rent cars in just a few taps
    • zeyupu
      zeyupu on 27 Jan 20
       
      GDS is developing.
  • Airlines are stuck with a limited number of distribution capabilities as three major players on the market (Amadeus, Sabre, and Travelport) dominate the distribution landscape.
  • It’s still hard for small online travel agencies and other travel distribution businesses to enter the market because such giants as Expedia and Booking Holdings own most of the market.
  • ...1 more annotation...
  • In this article, we will look at the history of flight booking: from the beginning of the first semi-automatic systems to modern e-ticketing and online booking. We chose events that depict the gradual change of reservation systems, giving a solid understanding of how airline distribution developed. By looking at this history timeline, you’ll be able to understand, at least partially, how the modern flight reservation market formed.
  • shanegmark on 26 Jan 21
     
    This is an article that goes through the history of bookings from the early 1900s through to today. It walks through the players in the industry, the changes in technology and the factors impacting the changes. It discusses the rise of the Computer Reservation Systems and subsequently GDSs, ultimately bringing readers to todays OTAs.
ahart054

How Hotel Cybersecurity Threats Have Changed During the Pandemic - 0 views

www.costar.com/...ve-changed-during-the-pandemic

hotel cybersecurity threats

shared by ahart054 on 23 Jun 21 - No Cached
  • Hotel industry cybersecurity experts say both the "nature and velocity" of cybersecurity threats have changed for the worse during the course of the COVID-19 pandemic.
  • the onset of the pandemic spurred many bad actors to quickly pivot and use "COVID as a theme and as a way to try to infiltrate their way into hotels."
  • He said the volume of threats and who they threatened also shifted.
  • ahart054 on 23 Jun 21
     
    Cybersecurity has changed both in nature and velocity during the COVID-10 pandemic. Hackers used COVID-19 to contact hotels under the guise of safety and security suggesting products to sell. There have also been an increase in phishing attacks at the outset of the COVID-19 pandemic. The threats targeted financial instruments such as loyalty points conduct fraud, to credit card information. The good news is both Hyatt and Choice hotels have executives that buy into the importance of cybersecurity.
yvenisem

Hotel Closures: How to Communicate Important Temporary Updates in the GDS - By Laura Th... - 0 views

www.hotelbusinessweekly.com/...s-in-the-gds-by-laura-thompson

shared by yvenisem on 21 Sep 20 - No Cached
  • communicate the changes to the travel industry and the traveling public.
    • yvenisem
      yvenisem on 21 Sep 20
       
      this was definitely essential when COVID started popping off
  • set yourself a reminder to reverse these changes once conditions improve
    • yvenisem
      yvenisem on 21 Sep 20
       
      if forgotten, this can impede on business since people will think the establishment is still closed
  • Clsd Until May 1st Spa-Dine Temp Clsd Room service only
    • yvenisem
      yvenisem on 21 Sep 20
       
      reopendings going on now can be using this verbiage
  • yvenisem on 21 Sep 20
     
    This article was created during the time when everything with the pandemic had started looking more and more grim. It outlines a few things hotels could do before, during, and after closures to ensure there was seamless communication across the various channels they use to market their facilities, book their facilities, and many other things. Although I was not very familiar with the lingo being used, I still understood the general concept of what the writer of the article was trying to get across. This definitely showed me just how interconnected everything is and how much easier it is to "communicate the changes to the travel industry and the traveling public" when using GDS systems. This has been made especially important since COVID has disrupted the way that we operate in everyday life, we need to know and understand how best to communicate with customers. What really interested me was the way that the writer started looking forward and being more on the offensive by saying "set yourself a reminder to reverse these changes once conditions improve" This is very refreshing to read considering how grim things were looking at the time. It definitely speaks volumes of how the industry works. Overall, the article was moreso of a "how-to" guide of how to communicate changes through the medium of the Synxis CRS. It also went a little further and explained how to use marketing messages that "display with rate availability in Amadeus, Apollo/Galileo, and Worldspan."
Ling Xiang

Recent technology trends in Event Management " Event Registration and Management Softwa... - 2 views

www.eventzilla.net/...ogy-trends-in-event-management

technology

shared by Ling Xiang on 27 Oct 12 - No Cached
  • attendees can ask questions to the speaker via tweets or Facebook comments real time during an event.
  • FIFA World Cup
  • cool application that had been created especially for the World Cup that highlighted the real time schedule of the games and results as they took place. This event alerted us to the huge potential that has hardly been scratched.
  • ...16 more annotations...
  • The drastic improvements in the Audio-Video equipments, staging and lighting instruments have made sure that you need to make your event stand out.
  • Technology has made sure that geographical impediments no more stop you from attending an event half way round the world. The webinars and live meetings are the newest venues for events the world over.
  • Social networking sites like Facebook and Twitter have completely altered the way we think about event promotion.
  • Recently – online registration for events has taken the center stage with a lot of small players like Eventzilla. 
  • Now the event attendees can ask questions to the speaker via tweets or Facebook comments real time during an event. With the world tweeting away night and day, there is no doubt that technology has changed our life completely
  • The barriers have been stomped down and the walls have fallen.   Technology has made sure that geographical impediments no more stop you from attending an event half way round the world. The webinars and live meetings are the newest venues for events the world over.
  • The drastic improvements in the Audio-Video equipments, staging and lighting instruments have made sure that you need to make your event stand out. No more can you pass off an event with just a great speaker. Even with the best of the content and ingredients, you need to upgrade the stage show to make sure that the attendees are left wonder struck.
  • The FIFA World Cup this year was a lot of fun for us. And we are not talking about football. Our excitement was because of this cool application that had been created especially for the World Cup that highlighted the real time schedule of the games and results as they took place. This event alerted us to the huge potential that has hardly been scratched.
  • has made sure that geographical impediments no more stop you from attending an event half way round the world. The webinars and live meetings are the newest venues for events the world over. Planners and
  • No more can you pass off an event with just a great speaker. Even with the best of the content and ingredients, you need to upgrade the
  • stage show to make sure that the attendees are left wonder struck.
  • The barriers have been stomped down and the walls have fallen.  Technology
  • Social networking sites like Facebook and Twitter have completely altered the way we think about event promotion.   Letters are antiquated and emails outdated. Nowadays, you ‘tweet’ and ‘poke’ your way around the events
  • Social networking sites like Facebook and Twitter have completely altered the way we think about event promotion.   Letters are antiquated and emails outdated. Nowadays, you ‘tweet’ and ‘poke’ your way around the events
  • With the advent of the iPhones, Androids and Blackberrys, smart phone applications have become the next-gen platform for event management. From charting an event to locating it on the map, you can do it all on your mobile. 
  • With the advent of the iPhones, Androids and Blackberrys, smart phone applications have become the next-gen platform for event management. From charting an event to locating it on the map, you can do it all on your mobile.
  • Yingjie Cao on 27 Oct 12
     
    The event today is not only between planner and organization; it's more like the communication and interaction among attendees. The technology assists the needs and expectation of attendees, which allows them to engage more during meetings and events. Besides, App or other online software facilitates attendees to get full knowledge of location, content and activity in one event. In addition, Audio-Video equipment mentioned in article also emphasized that lighting plays an important role to make one event stand out. In another words, creating great experience is definitely what technology is for.
  • rebecca Bonet on 27 Oct 12
     
    This article talks about how technology has changed the world completely, especially Event Management. For example, the FiFa world cup puts out cool application so people could know the highlight, real time schedule of the games and result. Some other example are the stage show, this drastic change improved in the Audio - video equipment, stage and lighting. Technology has change in Live Meeting. Live Meeting webinar and live meeting are use halfway around the world. Also, the Social Explosion like facebook and Twitter is the big thing around the world. Even the Mobile Application are used now in iPhones, Androids, and Blackberrys has become the next -gem platform for Event Management
  • Ling Xiang on 28 Mar 13
     
    Now the event attendees can ask questions to the speaker via tweets or Facebook comments real time during an event. With the world tweeting away night and day, there is no doubt that technology has changed our life completely.
marble_bird

Conditions Associated with Increased Risk of Fraud A Model for Publicly Traded Restaura... - 0 views

shared by marble_bird on 12 Jul 20 - No Cached
  • Many restaurant industry examples provide evidence that as a firm’s internal control structure weakens and deficiencies are found, the opportunity for fraud increases significantly.
  • The main premise of the study tests the application of the fraud triangle framework constructs to publicly traded restaurant companies during the time period of 2002–2014, using proxy variables defined through literature. The proxy variables selected were company size, amount of debt, employee turnover, organizational structure, the Recession, inflation rate, interest rate, executive stock compensation, return on assets, and international sales growth.
  • growing pressures from both passive and active investors to constantly increase their stock value in a competitive world where meeting performance goals are necessary to maintain a competitive edge
  • ...69 more annotations...
  • To meet targets, it is typical for companies to put additional stresses on their internal control structures by reducing head counts, requiring employees to perform more than one job, and rearranging risk profiles
  • The deceptive and corrupt business practicesofthesecompaniesandothersresulted largely from a failure of corporate governance and lack of ethical business practices, in which internal control mechanisms were circumvented by conflicts of interest that enriched executives and damaged shareholders
  • Deficiencies are often observed through review of the main business cycles: revenue and receivables, purchasing and payables, treasury and stock, and financial reporting
  • Internal controls are often the first avenue of protection in safeguarding assets and thwarting and discovering errors and fraud
  • Some research has been conducted in this area, and findings suggest that companies in the telecommunications, technology, financial, and services industries experience the most difficulty with SarbanesOxley compliance efforts because of increased risk of fraud from industry and company risk factors
  • Therefore, pressure resulting from expectations of financial performance, opportunity to circumvent internal controls, and rationalization coupled with certain inherent industry factors may contribute to increased risk of fraud
  • opportunity to engage in unethical behavior may stem from the macro environment, the operational features, and the specific nature of the business cycles
  • Because of this potential for fraud on the company, shareholders, and the public, examining the conditions that may prompt fraud is necessary for the efficiency of the restaurant industry, and namely, for those passive and active investors that are relying on the financial statements to be true and accurate
  • the restaurant industry is often susceptible to deficiencies because of its inherent characteristics and high control risk
  • Corporate scandals, misappropriation of assets and financial statement misstatement are all very real threats to the restaurant industry.
  • the central focus of this study is to understand the factors that contribute to increased risk of fraud to determine why fraud may occur despite the imposed regulation of the Sarbanes-Oxley Act.
  • numerous researchers have found indication that executive stock option compensation provides encouragements for behavior that is fraudulent or corrupt
  • the study seeks to identify the factors that may provide the optimal criteria to engage in fraudulent or opportunistic behavior, using the incidence of a reported control deficiency as the measurable dependent variable.
  • The fraud triangle is the model that explains the factors that may cause an individual or a company to commit occupational fraud.
  • The differing classifications and definitions of pressure provide evidence that the construct is not directly observable; therefore, researchers in this field have measured the construct of pressure through proxy variables
  • consists of three constructs: pressure/motivation, opportunity, and rationalization. The three constructs offer an explanation as to why management commits fraud, and the dynamic relationship that underlies the acts of occupational fraud.
  • pressure may best be classified into four general types that may lead to fraud: financial stability, external pressure, manager’s personal financial situations, and meeting financial targets (
  • when considering measurements of external pressures relating to debt financing, the financial leverage ratio is the most common measurement of the amount of debt.
  • Both pressures and opportunities are often determined by factors that occur at both the individual and company level (
  • ROA, or asset composition, is an appropriate proxy measurement for the pressure of meeting financial targets.
  • according to the fraud triangle, it can be said that opportunity does not exist unless a pressure exists.
  • nonshareable problems could also motivate groups of individuals, representative of a company’s culture, to commit fraud.
  • Opportunity is described as an atmosphere or temporary environment that enables fraud to be committed, usually with a small perceived probability of being caught or reprimanded
  • In a study of Swedish restaurant companies, it is noted that competition is very high, often resulting in price wars among different companies that reduce prices and then try to compensate through increased sales
  • Some risk factors include the susceptibility of the industry to market changes as well as the nature of the industry, coupled with the specific operations of the company such as whether there are significant or complex international operations; how effective management is at monitoring activities within the organization; and the level of complexity that exists in the organization
  • This environment is therefore dependent on the discretionary income of consumers, and this increased pressure may lead to earnings mismanagement through overstatement.
  • Public companies in the restaurant industry are susceptible to opportunities for fraud on the basis of the aforementioned opportunities
  • The ability to commit fraud in the restaurant industry results from inside knowledge of processes and procedures, and the ability to circumvent controls through weaknesses (
  • strong evidence has also linked the CEO position to fraud when the CEO is also the Chairman of the Board. In incidences like this, the CEO is the dominate decision maker for an organization that may provide an increased opportunity for fraud.
  • The underlying reason for these three categories of increased opportunities for fraud is the state of the internal controls structure, and management’s commitment to strong corporate governance
  • Rationalization is essentially an attitude, belief, or position of the mind or ethical personality that enables an employee or group of employees of a company to intentionally misappropriate assets and then defend their dishonest activities
  • Weak corporate governance structures are often presented through ineffective monitoring of management.
  • A quantifiable means of capturing this could be through review of executive stock compensation measures.
  • excessive use of discretionary accruals may lead to poor audit opinions, providing a rationalized thought for business activities.
  • the nature of the restaurant industry is often described as a periodic, seasonal, and cyclic trade
  • Defining parameters for financial reporting can also have an effect on reducing the rationalized behavior and the opportunity to commit fraud
  • Because these conditions have an obvious effect on earnings and measures of success, this seasonal variability and volatility should be considered when analyzing pressures in the restaurant industry
  • For restaurant companies, this means that rationalizations and attitudes can be managed by assessing the internal control environment and understanding the pressures and opportunities that exist for employees.
  • Some restaurant industry pressures that may impact profitable sales growth include a lack of understanding of the consumer’s perception, including the relevance of existing brands, and delays in opening new restaurants. Likewise, an inability to consider cost pressures, including increasing fees for supplies, utilities, and health care providers contracted by restaurants, as well as an incapability of obtaining economies of scale in procurement, could compress margins and negatively impact sales and operations profit margin.
  • The value in the application of the fraud triangle to the restaurant industry provides an opportunity to extend theoretical contributions that originated from mainstream accounting to hospitality literature, which is severely lacking in the current literature
  • Likewise, restaurant companies that are smaller (and therefore may not have strong internal controls) with increasingly complex transactions create additional opportunities for fraud to be committed
  • competitiveness is a condition that makes meeting financial targets difficult and provides opportunity for fraudulent behavior. External pressure from analysts and investors may create an incentive to misappropriate assets, which, in turn, distorts common financial measures of success such as return on assets.
  • when debt financing exists, in order to address past and future obligations, and remain competitive, restaurant companies are at an increased risk of fraud especially when disruptions in financial and credit markets exist.
  • Studies have revealed that restaurant company victory and demise is eventually correlated to restaurant leadership abilities and intentions; therefore, it can be stated that executives and managers’ intentions are of utmost concern in understanding risk of fraud
  • firms with increasingly complex operations coupled with changes in organizational structure have less resources to put into internal controls and are therefore at an increased risk for accounting errors.
  • .Internationalgrowthissubjecttorisks such as international political and economic conditions, foreign currency fluctuations, and divergent cultures and consumer inclinations
  • This study will focus on the variables most pertinent to the restaurant industry on the basis of the inherent characteristics of U.S. publicly traded restaurant companies, as previously described in this section.
  • a s a result of workforce diversity and the presence of many perceived low-skilled workers. In addition, as companies within the industry respond to declining performance, publicly traded restaurant companies may be subject to activist investors who wish to see a change in the executive management team. If a shake-up such as this would occur, the organizational structure of the company may become unstable, resulting in much greater opportunities for fraud to occur at all levels.
  • this study looks to assess the relation between the amount of debt a company has occurred and the incidence of reported internal control deficiencies.
  • Variables relating to rationalization are present in the restaurant industry when considering the motivations and attitudes of management. It is noted that in difficult times, such as the Recession, aggressive financial reporting tactics may be used
  • this study seeks to understand the effect of substantial stock compensation on increased fraud risk.
  • this study also hypothesizes that poor ROA could increase the risk of fraud, as the pressure provides executive management with the motivation to manipulate earnings.
  • this study suggests that the organizational structure of the company may provide opportunity for increased fraud risk through a unitary tone at the top.
  • this study analysed the disclosures of publicly traded restaurant companies to determine whether a company has a higher probability of increased fraud risk on the basis of the presented variables.
  • The results of the applied probit model reveal for the entire population set of publicly traded restaurant companies that the macroeconomic factors of the Recession, interest rate, inflation rate and unemployment rate all have a significant impact on the increased risk of fraud, as evidenced through a reported internal control deficiency.
  • As noted in the overall model, the results reveal that the model as a whole is a significant fit to the data. Although the company-level variables were not significant in the overall model, external factors were each significant.
  • Therefore, it can be said that the results of this study empirically support the intuition that changes in macroeconomic conditions may impact increased risk of fraud for companies in the restaurant industry.
  • It can be said that there is a significant relation between increased risk of fraud and the macroeconomic factors of interest, inflation, and unemployment rates.
  • from a managerial perspective, the study provides evidence that macroeconomic conditions that might affect consumer demand may increase the risk of fraud for publicly traded restaurant companies.
  • In addition to the high costs of compliance, it is also important to recognize additional managerial characteristics that may heighten the effects of the macroeconomic conditions on increased fraud risk.
  • As indicated by the results of the study, however, many times executive management does not recognize the problems associated with the macroeconomic conditions because of systematic perceptual filters that play the crucial role in the functioning of the company.
  • By focusing on the changing macroeconomic conditions that may have an empirical effect on demand, executive leadership will be able to streamline processes to avoid incidences of reporting internal control deficiencies when exposed to the macroeconomic conditions.
  • In the restaurant industry in particular, information is also not readily quantifiable, which makes it even more difficult to transform into meaningful and timely information for executive management. Particular examples include consumer insights and how well new promotions are received and moved throughout the market.
  • it should be noted that reported internal control deficiencies are indicative of increased fraud risk, but not necessarily conclusive that fraud has occurred. Therefore, just because a company has reported a deficiency, it does not indicate fraud, necessarily.
  • According to the model, the managerial factors are only exacerbated by the presence of macroeconomic factors.
  • the identified conditions could help managers to improve internal control when a high risk factor is realized. The contribution of this study may allow restaurant companies to deter activities that may result in increased risk of fraud.
  • Because the study revealed that the macroeconomic conditions were significant for the entire population of restaurant companies, an area of future research might explore the relevance of the co alignment model (Olsen &R o p e r , 1998) to strategic management decisions to reduce the risk of fraud.
  • for purposes of this study, privately traded companies are excluded. This is a limitation of the study because the results may indicate a problem that is more or less pervasive since the sample is representative of a small number of companies in the United States.
  • the model is limited in application because it does not take into account fluctuations among the variables over time.
  • marble_bird on 12 Jul 20
     
    This article covers the methodology and findings of a study conducted to examine the factors contributing to fraud risk in publicly traded restaurants. The article discusses factors in the fraud triangle, macroeconomic factors, and internal company factors that may contribute to fraud despite protections implemented per Sarbanes-Oxley. The study ultimately finds that internal company factors are insignificant when considering the impact on fraud risk, while macroeconomic factors, such as inflation or unemployment, drastically impact the level of fraud risk that a company may face.
blevi022

How is Point of Sale Software Changing in 2020? : Tech : Tech Times - 1 views

www-techtimes-com.cdn.ampproject.org/...-software-changing-in-2020.htm

shared by blevi022 on 28 Jun 20 - No Cached
  • a retail POS system is like a Midas touch to your business; it enhances it and enhances it for good, adorning it with golden profits. 
  • The idea of POS software is simple. It excludes every chance of human errors and inconsistencies, holds back your company's loss, and increases the productivity of your checkout counter
  • It has been a high time since businesses have advanced from conventional cash registers and card swiping machines to cloud-based POS Systems. The very retail POS systems have proved to be a business bliss encouraging greater flexibility, brilliance, and control in business terms
  • ...9 more annotations...
  • Some restaurants which have adopted such highly technical software have observed some fine changes in their business sales. For instance, a restaurant adopted a cloud-based POS system; this allowed the restaurant owner to split bills, quickly scan the items they are searching for in the menu, track server performances and process online orders, train employees, look for trends, and build customer directories. This obviously led to positive results and increased their overall sales by 30 percent. 
  • here are a few ways you might want to behold to believe that POS systems have changed in 2020 for the better
  • Integrating The Transactions Into One Through Shared Commerce
  • A Step Towards Cashless Business Schemes: Mobile POS
  • With revolving time and turning generations, most customers prefer to make payments through their mobile wallets. The statistics suggest that by 2025, 75 percent of all transactions will be cashless, assuming the hyped popularity of mobile wallet systems. Therefore, looking upon such predictions requires the businesses to notch up their technical sides and promote cashless transactions.
  • POS Systems Have Advanced To Feature CRM
  • The featuring of CRM has tended to increase sales, boost revenue, and help the business outgrow itself. Where the previous form, if POS systems only tend to provide general and basic data insights regarding customer behavior, the new integrated POS with CRM gives more advanced and clear visions on customer insights.
  • POS Systems With The Mighty Powers of Big Data
  • The big data feature tends to provide you insights on how the performances of your business, how many deals you closed, and how many sales you made. It also analyzes how wl you are doing on an annual level. It accounts for your profits to compare each month, thereby making you aware whether your performance is improving or degrading.
  • blevi022 on 28 Jun 20
     
    This article provides an overview of the ways POS systems are advancing and evolving in 2020. It goes on to explain the most important developments in POS.
biancafavilli

How Cloud-based Hotel Software is Changing the Industry - 8 views

www.cloudbeds.com/...nging-the-hospitality-industry

shared by biancafavilli on 01 Sep 19 - No Cached
  • Couple that with the fact that in the next two to three years hoteliers are expected to invest seven to eight percent more on cloud technology
  • Additionally, increased accessibility, greater profitability, and user-friendly dashboards make cloud-based software enticing for hoteliers
  • For starters, cloud-based hotel software has the ability to host a property management system (PMS) from a remote location, allowing hoteliers to access their property data from anywhere in the world with an internet connection. This feature is unique to cloud-based software and eliminates the need for hoteliers to be physically present at their property to be able to check in on daily management operations.
  • ...22 more annotations...
  • Cloud-based hotel software has been shown to boost productivity, efficiency, and cost-effectiveness
  • Additionally, through the centralization of operations, hoteliers can eliminate the need for on-premise servers at each property
  • In fact, the hotel group, Triple C Hotels and Resorts, reported a 60% savings on software costs when they switched to Cloudbeds’ cloud-based hospitality software
  • For example, Cloudbeds hospitality software implements periodic auto-logoff features that require users to re-enter their password, two-factor authentication for an added level of user verification, and automatic removal of guest credit card data after 14 days
  • The high-level security standards followed by cloud-based hotel software is due in part to its rigid compliance with PCI requirements.
  • Unlike locally installed software, one of the more attractive elements of using a cloud-based hotel software system is the ability to adapt, grow, and integrate with future trends
  • Unlike conventional hotel software models that require hoteliers to purchase licenses and hardware, cloud-based hotel software is sold as a service that enables clients to add on as many or as few tools and features as needed.
  • In fact, a study by Frost and Sullivan showed that businesses can cut IT costs in half by implementing cloud-based computing solutions to customer support.
  • ability to host a property management system (PMS) from a remote location, allowing hoteliers to access property data from anywhere in the world with an internet connection. This feature is unique to cloud-based software and eliminates the need for hoteliers to be physically present at their property to be able to check in on daily management operations.
  • Eliminate the need for manual data sharing and processing
  • Give staff more mobility and accessibility around the property
  • next two to three years hoteliers are expected to invest 7-8% more on cloud technology
    • cleon087
      cleon087 on 25 May 20
       
      This could be a determination if a hotel succeeds. It is important to not lag and instead adapt to the times.
  • an spend more time attending to guests
  • ransitioning to a cloud-based hotel software solution can seem like a daunting task at first
    • cleon087
      cleon087 on 25 May 20
       
      Not all bosses are even comfortable with technology to begin with so it would be difficult for them to spend the money to transition.
  • Accelerate hotel check-in / out
    • cleon087
      cleon087 on 25 May 20
       
      People value fast check in, especially someone that came to the hotel on a business trip and just wants to get to their room.
  • Eliminate the need for manual data sharing and processing
    • cleon087
      cleon087 on 25 May 20
       
      This saves a lot of time because you wont have to manually record data.
  • customizable
  • In an industry that is always changing, this kind of flexibility is priceless.
  • across multiple properties simultaneously
  • faster for operations, online booking and customer service.  
  • frequent security updates t
  • Cyber attacks and tighter regulations on privacy policies have made the need to protect guest information more important than ever. This topic is a main concern for those considering switching to a cloud-based PMS system since data servers are hosted off premises.
  • anonymous on 01 Sep 19
     
    Cloud-based hotel software is able to host a property management system from a remote location which therefore allows hotel staff to access data from wherever they are in the world. It is showing positive signs of increased efficiency and overall cost-effectiveness.
  • ...4 more comments...
  • gaston326 on 08 Sep 19
     
    Cloud-based software is the future of the entire hospitality industry. The benefits of having this software heavily outweigh the cons. It would allow employees to better assist guests with check-in/out processes and it would also give them increased mobility throughout the system, accelerating the services we can offer to our guests. In addition, cloud-based systems allow for better data storage, giving us the tools we need to be prepared for returning guests and their accomodations.
  • dsada005 on 08 Jan 20
     
    Providing the best customer service is the goal of any hotel. It is what attracts your guests to return and suggest your hotel to others. Imagine a software that eliminates the need for hoteliers to be physically present to check on daily management operations or even automate mundane daily tasks, allowing staff to spend more time attending to guests and improving the customer service experience. This software is known as cloud-based hotel software. This software is not sold as a product; it is sold as a service that allows hoteliers to add on as many or few features as needed, making it completely customizable. Cloud-based software is hosted by a vendor's server and gives hoteliers a scalable system that is flexible and easily updated across multiple properties simultaneously. A great key feature to this software is that the system is able to adapt, grow, and integrate with future trends. Flexibility is so important in this generation because new technologies are constantly being innovated and staying up with trends is a great way to satisfy your guests. Cloud-based software has shown to boost productivity, efficiency, and cost-effectiveness. What more could you ask for?
  • jeanique13 on 19 May 20
     
    The cloud based hotel software is a great addition to he hospitality industry because it gives the hoteliers a chance to be flexible with their stay. It gives the staff member a more relief on updates of property housekeeping status. Cloud based technology gives advantages of moreover frequent updates and enhancements for hoteliers inquiring.
  • cleon087 on 25 May 20
     
    This article highlights the benefits of switching to Cloud-based hotel software. One of the highlights is the reduction in cost, by switching it allows employees to focus more on service then repetitive tasks. This is also an attractive deal for hoteliers because they're allowed to check on important data from their house. This software makes it more efficient and soon all hoteliers will have to invest in a innovative software.
  • hankunli on 24 Jul 20
     
    A general trend is that hoteliers are considering to use cloud-based systems more. Data have proved that hoteliers will invest more in cloud technology. Cloud-based hotel software can provide its users with many benefits like cost-efficiency, increased accessibility, and user-friendly dashboards. Furthermore, it makes remote/offsite information sharing and real-time offsite management possible. With a cloud-based system, staff can spend more time on guests and improving service. For security issues, cloud-based systems upgrades often and therefore reduce the risk of being hacked. Cloud-based systems are also enough flexible to meet the future needs of users. In sum, cloud-based technologies can help the hospitality businesses to deal with the changes better.
  • biancafavilli on 30 Aug 20
     
    Hotels are beginning to transition to cloud-based software because they are realizing the great impact it has caused on their business. The article mentioned, "in the next two to three years hoteliers are expected to invest 7-8% on cloud technology". This percentage exhibits how hotels are going to be ran in the future. Cloud-based software has brought positive impact to a hotel business such as "increased accessibility, greater profitability, and user-friendly dashboards". All of these benefits have caused hotels to run their business smoothly bringing back satisfied guests. This software allows check ins/out to be more quick and gives easy access to areas in the hotel for employees. Another gain received by using this software is that its cost-effective. It has been disclosed that a hotel has saved "60% on software costs". Using this software has saved a hotel a lot of money that can be used to satisfied guest more. Security on data is more secured using cloud-based software because the vendors take it seriously making it harder for hackers to retrieve information. Some hotels may halt to install new technology such as cloud-based software but with all the benefits it has given to other hotels, this is going to be the future for the hospitality industry.
ldevaul

Making the Move to a Cloud-Based Restaurant POS - 0 views

upserve.com/...cloud-based-restaurant-pos

POS hospitality cloud-based restaurants technology business decision-making mobile Software solution Tech

shared by ldevaul on 16 Sep 19 - No Cached
  • The beauty of the cloud-based POS format is how scalable and customizable it is—it can work for single-location full service and quick service restaurants, multi-location restaurants, and restaurant groups alike.
  • Most cloud-based POS systems also update with new features as technology improves across the industry—something you’re unlikely to get with a legacy POS system.
  • Cloud solutions facilitate faster, easier, and more extensive business insights, which can help you make strategic decisions. By connecting what’s happening in the back of the house to the front, restaurant operators get a holistic picture of how the business is running
  • ...26 more annotations...
  • Real-time data means real-time solutions to situations before they become problems. Just think of the time and money you’ll save by identifying issues before they blow out of proportion
  • Instead of printing out lengthy reports for every shift, now you can access your insights from any smart device—such as your computer, phone, or tablet—and get updated sales, inventory, customer feedback, and more, no matter where you are. 
  • Legacy systems only allow on-premise access to data, which means you have to be in your restaurant in order to access the information on your POS system.
  • If you anticipate growth or change, a cloud-based POS system is better enabled to grow with you. 
  • While buying up all of the necessary technology to get a cloud-based POS system off the ground may seem expensive, they tend to have cheaper operating costs in the long run and some, like Upserve, offer free support 24/7/365. 
  • With a cloud-based restaurant POS, you have the ability to add on a mobile POS unit that provides a number of benefits.
  • That decrease in time spent waiting for their check or credit card to return to the table also increases guest satisfaction, boosting your reputation. A mobile restaurant POS also provides contactless payments with a built-in EMV reader, minimizing the exchange between servers and guests – something that is particularly important in this moment.
  • Cloud-based POS systems update automatically and for free, just like the apps on your mobile device, while traditional POS systems require manual updates that can be labor intensive and costly. 
  • The beauty of the cloud-based POS format is how scalable and customizable it is—it can work for single-location full service and quick service restaurants, multi-location restaurants, and restaurant groups alike. 
  • Whether it’s updating your menu on the regular, launching new or improved loyalty programs, or requiring more precise inventory tracking, the more your needs will shift over time, the more sense it makes to opt for cloud-based.
  • If the internet ever goes down, the system that your legacy POS relies on will be offline and non-functional. Luckily, on a cloud-based restaurant POS system you have the option of switching to offline mode as a back-up. You’ll stay up and running until the internet is able to connect again.
  • Thanks to the cloud and its encrypted online storage, there’s no risk of hardware or software incompatibility or failure, no viruses or driver hiccups, and no risk of a hard drive accidentally deleting a weekend’s worth of sales reports. It’s all backed up, automatically. 
  • Plus, younger generations of workers—think millennials and Gen Zs—will be able to get right on board with a cloud-based POS solution with little-to-no training.
  • Customers will feel good knowing their credit card information is secure and encrypted with the most up-to-date technology. 
  • No matter what type of establishment, your cloud-based POS can track every last drop of product, allowing you to spot discrepancies in an instant and fix gaps before they become problematic.
  • Hardware costs are separate from service, and maintenance and support services often come with a hefty fee. 
  • While traditional POS systems certainly have lower start-up costs, they tend to come with plenty of hidden costs that reveal themselves over time.
  • upfront costs are kept to a minimum and monthly subscription fees are lower. 
  • Best of all, instant free upgrades mean no lost revenue from downtime or inconvenient hardware upgrades as your business grows. Instead, plans can be upgraded or downgraded at will, and most providers don’t even charge a fee for the trouble. 
  • If you have existing setups in place, many third-party vendors have upgraded apps for cloud POS systems to help you maintain your current rewards and promotions planning. 
  • Most studies are showing that those who switched are sticking with a cloud-based solution, and that legacy POS systems will only decline moving forward.
  • After over three decades with a legacy POS system that only slowed them down, they made the move to a cloud-based POS to bring their restaurants into the future.
  • “Our restaurants are chef-driven, so we have specials that change every day. We need to add buttons every day. We change pricing every day. Having to stop and reset all the terminals because it’s not instantaneous was a headache.”
  • Not only did constant resets of the system create roadblocks for the team at Homegrown Hospitality, but service was also less than stellar and cost more than what it was worth.
  • We went through a lot of pain—our system would crash all the time, credit cards wouldn’t spool, and data would be lost. Our IT department would spend numerous hours a week just trying to recover data,” Simon explained.
  • “That was pretty much the breaking point: we were at the point where we needed to upgrade, but it would have cost us several hundred thousand dollars. So we decided to source something new. The functionality and capability of Upserve won us over.”
  • mmadar on 16 Sep 19
     
    This article takes you through why your restaurant may want to switch to a Cloud-Based POS. There are many positive attributes associated with making the switch, such as; data accessibility, cheaper operating costs, easier upgrades, less frequent downtimes, increased security, and adaptability. If you are a growing business, the Cloud would grow with you.
  • shannaton on 29 Jun 20
     
    Cloud based POS systems can be apprehensive at first, but we are always satisfied once we are able to se the technology work to keep the business safe, effiecient and also more profitable. Cloud based POS systems are speedy and saves a lot of time which frees up staff to do other things in the establishment.
  • ldevaul on 11 Sep 21
     
    This article discussed the benefits of switching from a localized POS system to a cloud-based restaurant POS. The article touched on how cloud-based systems provide real-time data and how that instant data could provide a management team real-time solutions. You can save so much time and money by identifying issues before they even arrive. I found it very interesting that with cloud-based systems you have the "ability to add on a mobile POS unit that provides a number of benefits." With this option, your servers do not have to run back and forth to a POS station. They simply have the option in the palm of their hands. It also decreases the time spent waiting for a check or credit card to return to the table. This not only increases guest satisfaction, but helps with table turnover. The article also touched on how cloud-based POS systems are "better enabled to grow with you." They are super adaptable and the article mentioned that restaurants can update their menu whenever, launch new loyalty programs, and help with more precise inventory tracking. This article also touched on setup, increased security, staff accountability, and the ability to make better business decisions due to the cloud software being able to provide extensive business insights. Finally, the article touched on POS cost and how " upfront costs are kept to a minimum and monthly subscription fees are lower." It also ended with a case study about Homegrown Hospitality Group and their switch from Aloha to Upserve Cloud-based POS. It was very interesting and I'd recommend everyone read the brief two paragraphs about how the switch changed their business trajectory.
nbrac002

How Cloud Computing Helped Hotels and HotelTechReport.com Cope with Volatility | AWS fo... - 0 views

aws.amazon.com/...eport-com-cope-with-volatility

Tech travel hospitality hotel cloud computing

shared by nbrac002 on 01 Sep 21 - No Cached
  • During the pandemic, the travel industry adopted technology at unprecedented speed and scope to meet new regulations and volatile market conditions.
  • At the heart of every hotel process or SOP there is software that relies on cloud computing.
  • received responses from 657 hoteliers that crystalized the major trends we’ve observed in the market:
  • ...17 more annotations...
  • cost savings is now actually less important to hoteliers than the ability to adapt to rapidly changing business conditions.
  • Historically, hoteliers respond that improving operational efficiency is the most important value proposition for adopting software, but when asked about their goal for hotel technology in 2021, hoteliers said they were adopting new technology solutions to assist in the transformation of business processes and operating models.
  • 96% told us that technology will be more important to their businesses in five years. 91% said that they expect to be using more software tools to run their businesses in 2025 than they did in 2020.
  • Hotels needed to decrease staffing levels while delivering increased, safety-focused levels of customer service.
  • Guests demanded fully contactless experiences for the first time in history.
  • detailed housekeeping protocols.
  • infrastructure and assets went unused
  • ocused on using technology to transform business processes after the events of 2020
  • Cloud computing technology like AWS has lowered the cost of delivery so that hotel operators of any size can access software that was previously only available to major global chains.
  • The cloud allows companies to avoid costly installations. It requires minimal upfront investment and frees up companies to focus on improving their core services instead of server configurations. The cloud also offers companies a pay-as-you-go model so that they can scale up and down their infrastructure in a flexible and cost-effective way.
  • Increasing server capacity without cloud servers would have required us to rush-order new servers. F
  • $5,000.
  • one additional server
  • able to double our server capacity for minimal cost.
  • It adapts to meet evolving business needs.
  • Sometimes they face growing pains and need to rapidly scale infrastructure to meet new demand.
  • hospitality ecosystem can use the cloud’s fundamental scale-up-on-demand model to enable creativity, innovation, and speed.
  • nbrac002 on 01 Sep 21
     
    After the pandemic hit in 2020, hotels have had to adapt to a volatile market quickly or risk major losses. This quick adaptation would not have been possible without cloud computing. Based on a Jan. 2021 survey, the vast majority of hoteliers now claim that the most important use of software is to have the ability to adapt to rapidly changing business conditions- a shift from the historical answer of efficiency and cost savings. What is clear is that without cloud computing, hotels would not be able to meet guests' evolving needs while navigating an ever- changing travel market.
cnburke22

Disruptive Innovation in the Hospitality Industry | SevenRooms - 8 views

sevenrooms.com/...on-in-the-hospitality-industry

hospitality Technology business software

shared by cnburke22 on 03 Mar 21 - No Cached
  • DI refers to a significant change that fundamentally alters an industry.
  • DI can take many forms, including product and service innovations, as well as changes to operating processes and business models. What they all have in common is a commitment to continuous improvement and growth. The goal is to always be on the lookout for new and better ways to serve the customer and lead the market.
  • Leveraging contactless ordering and payments, operators can collect more data on their guests. These details seamlessly flow into your point of sales system, as well as your guest database to track spent and historical data.
  • ...15 more annotations...
  • Streamlined SMS messaging directly to guests, for example, can be used to automate communications
  • Marketing automation
  • for example, can retarget guests with targeted marketing campaigns, triggered by certain thresholds dependent on preference, spending habits and other guest traits.
  • DI is an ideal way to reach your guests even after their dining experience at your venue has concluded.
  • DI, however, can help you reconnect with your customers and revive your business. You’ll just be doing it in a new way
  • The hospitality industry is truly a people-focused field.
  • COVID-19 pandemic has taken a toll on the global economy
  • Your customers will have peace of mind in knowing they won’t have to expose themselves to unnecessary risks when visiting your property
  • Every day, new technologies and systems are being developed to help businesses adjust to the new normal.
  • That makes hospitality much more of an essential service than many people may realize.
  • Yet of all the industries impacted by the coronavirus outbreak, the hospitality industry has been among the most affected.
  • quicker and more convenient
  • open the door of contactless communication, decrease likelihood of table abandonment and prevent overcrowding
  • This helps tailor the guest experience and personalize your communications with guests, resulting in increased loyalty and retention!
  • Disruptive innovation, however, is a powerful weapon in the industry’s arsenal, not only allowing professionals to survive in ordinary conditions, but also to thrive in extraordinary ones.
  • deden004 on 03 Mar 21
     
    The article I chose was based on disruptive innovations (DI) in a post pandemic world. In this article DI is represented as a necessary change through the additions of increased safety measures by implementing contactless ordering and payments to keep not only the guests safe but staff as well. This article describes how DI will not only give customers a stronger sense of safety but also give staff the opportunity to collect more data on customers in turn enhancing the guest's possible future experiences. This is just one example of how DI is helping to make customers experiences better during the COVID pandemic.
  • ...3 more comments...
  • sarahcarniglia on 09 Mar 22
     
    The article speaks on the effects COVID has had on the hospitality industry and how disruptive innovation will help businesses adjust to the new normal. As a business owner, you must always be aware of the new and upcoming trends to keep up with the market and servicing the consumer. Disruptive innovations will expedite your long wait times at restaurants or bars with SMS messaging, it will allow for an easy self check in/check out process. Any process that will make the consumers way of living easier, will have a significant effect.
  • pjohn091 on 11 May 22
     
    The article discusses how the pandemic and COVID-19 has hurt global economic growth. Despite the pandemic closing many restaurants, new technologies systems are being installed to help those businesses adjust to the new normal. In the world of business, disruptive innovation refers to a significant change in the way a business operates. In addition to product and service innovations, business processes and business models can also be affected. Even if the virus is having an effect, people still need to eat, travel, and have a way to sleep and shower when they do so. Payments and ordering via contactless technology can help business owners reconnect with their customers. This industry is inherently people-oriented. The application of disruptive innovation to this field allows professional to flourish in unusual circumstances.
  • iseli003 on 27 Jun 22
     
    this article talks about how COVID 19 helped speed up the process of many innovations taking over antiquated systems with a modern approach. and now that we have we will never go back. "DI can take many forms, including product and service innovations, as well as changes to operating processes and business models." basically it just disrupts the systems that was already put in place with systems that work better for today. "Leveraging contactless ordering and payments, operators can collect more data on their guests. These details seamlessly flow into your point of sales system, as well as your guest database to track spent and historical data." the restaurant i work for never use to do delivery services but COVID made them disrupt their system and innovate in order to make money and stay afloat. by using delivery dudes and easy packaging and simplifying the menu we have been able to increase our revenue and stay ahead of the curve which happens to be ghost kitchens.
  • jbrit055 on 21 Jul 22
     
    New advancements in technology and the hospitality and tourism industry have led to the collaboration of both sides to create better guest experiences. By using new technological products in the hospitality industry, guests can have contactless interactions to reduce their health concerns, brought on by the pandemic, as well as increase a business's productivity at the same time. The new innovations can also give more data on guest interests and help businesses learn more about their audience to make better decisions later on.
  • cnburke22 on 18 Jan 23
     
    "Disruptive innovation is nearly as old as the hospitality business itself." A post pandemic world has taken a new direction towards contactless service, and DI technology has played a huge role in how we now operate going forward. Sevenrooms is a online reservation software similar to open table that allows for a seamless reservation process. It tracks data such as how much a guest has spent, how frequent they visit and even table preference. "This helps tailor the guest experience and personalize your communications with guests, resulting in increased loyalty and retention." Sevenrooms also uses an SMS messaging feature to notify guests about any updates to their table, which allows them to enjoy themselves freely while waiting instead of being crammed up in the front of the restaurant.
jordanskj

Leading Through Disruption in Hospitality - 2 views

hospitalityinsights.ehl.edu/through-disruption-hospitality

Technology hospitality Hotel tech Travel

shared by jordanskj on 18 Jan 21 - No Cached
  • Ninety per cent of all the data created by mankind … has been created in the last two years
  • Virtual reality (VR) also allows users to get 360-degree views of a hotel’s facilities
  • HotelTonight. This platform targets people seeking to make last-minute hotel bookings and helps participating hotels maximize their occupancy rates
  • ...13 more annotations...
  • Advanced technology can make life easier, but it cannot replace human beings
  • All in all, disruptive innovation is undoubtedly resulting in challenges for the hotel industry. At the same time, it is also a ‘wake-up’ call for hoteliers to turn these challenges into opportunities and competitive advantages
  • New business models such as alternative accommodation (Airbnb, HouseTrip, etc.) and ride-sharing platforms (Uber) are also changing the public’s perceptions to traditional hospitality businesses
  • Technology helps make the world connected and transparent.
  • In short, it’s all about the amount of effort hoteliers are prepared to make to keep their service commitments to their guests. 
  • Disruption brings with it uncertainty through unexpected consequences. People are nowadays more prepared to check themselves in at the airport, use self-service cashier lines at the supermarket, or order food via a mobile app.
  • In hospitality, people’s expectations are also changing. Long queues to check in at the hotel become unacceptable; unresponsive or slow room service lead to negative hotel comments on TripAdvisor; and some expect 24 hours’ housekeeping even in a budget hotel
  • Technological disruption in the hotel industry is therefore challenging but it also brings with it significant opportunities. Due to the large numbers of internet users, including mobile, online review platforms, attract lots of traffic which, in turn, means plenty of business potential for the online travel agencies (OTAs) in particular.
  • Like it or not, technology will always keep progressing and hotel brands could turn such tech challenges into their competitive advantages.
  • No matter how much technology has impacted the hotel industry, hospitality – and the human touch – will always exist and should never be replaced by artificial intelligence (AI).
  • A machine can cook dishes exactly to order, but it cannot experience how the guest feels; a robot might be able to deliver a pot of hot water to a hotel room, but it is unable to tell whether the guest is feeling unwell; an advanced voice control system could make it easier to order room service, but it cannot tell whether the guest enjoys the meal.
  • Many hotels have hired a designated team to respond to selected online reviews with personalized messages because they know the reviews represent ‘real feedback’, not the type of comments which effectively ‘threaten’ hotels with a bad review in a bid to get something for nothing. However, many hotel managers are afraid of getting bad reviews and either choose to ignore them or give a refund. There are many ways to handle this ‘disruption’ and run the business; the key is to find the right way.
  • Hoteliers should be prepared to seize those opportunities, while looking to improve their services and enhance their hospitality offerings.
  • ovila009 on 18 Jan 21
     
    This article dives into the ways that technological innovation is disrupting the hotel industry. Hoteliers are struggling to keep up with guest needs and demands. Technological innovations, while a necessity, can never replace human touch. This rapid change represents a challenge and opportunity for the industry to overcome.
  • ...1 more comment...
  • dbake008 on 17 May 21
     
    Technology advances at a rapid pace. While automation is occurring, it will not replace the element of the human touch. Managers should decide what will provide the best service to their guests.
  • gwhitley on 20 Jun 22
     
    This article explains the technological advances in the hospitality industry and how this has been attributed to being a crutch for the industry and/or a burden. With the utilization of technological software such as kiosks, automated checks in's, and mobile ordering, the hospitality industry has had a disruption in the product that they are offering. The article also undergoes the understanding of taking the implementation of technology and the human interaction and combining them to work cohesively in the hospitality industry. Understanding that it is a balance that both must intertwine in order to find success in hospitality.
  • jordanskj on 29 Aug 22
     
    In this article, all the incredible sides of innovative technology within the hospitality and tourism industry are highlighted and discussed. Along with the discussion of what some of the newest technology is, it touches on how it positively and negatively affects the industry. For example, the article talks about how the average person is so much more willing to go about self-service check-ins and hotels and airports, as well as ordering from a kiosk at a restaurant. From this, while it can be super convenient for the customer, it can also cause extreme damage to the business. Because so much of the industry has transformed to just being at the will of your fingertips, it leaves customers forgetting that not everything comes with instant gratification. "Long queues to check in at the hotel become unacceptable; unresponsive or slow room service lead to negative hotel comments on TripAdvisor; and some expect 24 hours' housekeeping even in a budget hotel", a quote from the article reads. The article also talks about how while there can be many negatives, there are equally as many rewarding positives. For example, "Due to the large numbers of internet users, including mobile, online review platforms, attract lots of traffic which, in turn, means plenty of business potential for the online travel agencies (OTAs) in particular". One of the main points in the article talks about how even though many hospitality jobs are being taken over by computers and AI, the one thing a robot will never be able to grasp and give is human interaction. "A machine can cook dishes exactly to order, but it cannot experience how the guest feels; a robot might be able to deliver a pot of hot water to a hotel room, but it is unable to tell whether the guest is feeling unwell; an advanced voice control system could make it easier to order room service, but it cannot tell whether the guest enjoys the meal". In conclusion, while there are indeed many disruptive changes that have bee
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