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yiran DING

Procure Wizard working with Beacon Purchasing » Technology4Hospitality.com - 1 views

www.technology4hospitality.com/...working-with-beacon-purchasing

purchasing technology software UK hospitality

shared by yiran DING on 19 Feb 13 - No Cached
  • yiran DING on 19 Feb 13
     
    Procure Wizard, the Scottish e-procurement company, has secured a major deal to supply its software to Beacon Purchasing, the leading provider of purchasing solutions to the UK hospitality industry and one of the country's largest purchasing companies.
Jia Zhu

Starbucks accepting Square payments beginning early November | Digital Trends - 0 views

www.digitaltrends.com/...are-payment-starts-in-november

shared by Jia Zhu on 06 Oct 12 - No Cached
  • Square will begin processing all of Starbuck’s credit card-based payments and users can make purchases using their phones through a digital Starbucks Card. Square’s in-app directory will also offer a list of the nearest Starbucks shops among the 7,000 locations throughout the U.S
  • when you approach a Starbucks location (you must have Starbucks’ iOS app downloaded and have added your Starbucks Card to Passbook), a Passbook notification will appear on the lock screen of your iPhone. You can then select the Starbucks Card and swipe your phone to make the purchase, and even enjoy loyalty rewards on occasion. 
  • Starbucks will later integrate Square’s GPS-based point of sale system, which should make purchases a breeze and speed up the lines especially during coffee rush hours.
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  • when Starbucks first launched its mobile payment app, the company has hosted over 70 million transactions, and its partnership with Square has been a mutually beneficial one for both companies.
  • Jia Zhu on 06 Oct 12
     
    Starbucks invested $25 million to develop movie payment system with partnership with Square. The mobile payment integration with the point of sale solution will be available in November. The point of sale solution mobile app will make customers purchase using their phones through a digital Starbucks card and square will processing all of the Starbuck's credit card - based payments. Meanwhile, Starbucks also revealed its IOS app's integration with Passbook. When you approach a Starbucks location, a Passbook notification will appear on the screen of iPhone and you can then select the starbucks card and swipe your phone to make the purchase. Later Starbucks will integrate Squar's GPS- based point of sale system which should make purchases a breeze and speed up the lines during coffee rush hours. This allow you to select the item with Square app and simply say you name to the cashier to confirm the payment.  An image of your face will present from the profile photo to prevent theft or misuse. Since January 2011 starbucks first mobile payment app has host over 70 million transactions and the partnership with Square has been a mutually beneficial on for both sides. Starbucks will significantly expand Square's scale and accelerate the benefits to business on the platform in the future.
Chi Zhang

Purchasing Management Software - 0 views

www.epiqtech.com/hasing-Management-Software.htm

shared by Chi Zhang on 14 Feb 13 - No Cached
  • One benefit is that since it keeps track of the company's existing inventory, it automatically generates orders when the stock reaches a certain level. No one has to remember to check those levels manually, because that is done for them and thus it prevents inventory levels of crtical items from running out.
  • Another important benefit of purchasing software is that it simply speeds up the purchasing process.
  • Furthermore, the software eliminates confusion that sometimes occurs when orders are received.
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  • purchasing software has a number of benefits for businesses of all sizes and in every industry. By helping businesses save money, boost their purchasing efficiency, better track their inventory, handle deliveries, and more, these software programs can truly improve the way purchasing departments work.
  • Chi Zhang on 14 Feb 13
     
    In order to choose the best business cash management system, it can be helpful to consider the nature and needs of your business, as well as factors such as the need to incorporate analysts or consultants, and the ease of use for individuals who may be responsible for updating or reading the system. Companies will implement these procedures to ensure they accurately report inventory items and do not account for costs prior to being incurred by the production department. Companies use cost management systems to provide information for making decisions. The information provided typically relates to individual products produced and the production capacity associated with the company.
kelseybarton

What is Point of Sale (POS) Systems? Definition of POS with Examples - 0 views

www.posusa.com/what-is-pos

pos technology Hospitality business

shared by kelseybarton on 18 Sep 20 - No Cached
  • A point-of-sale (POS) transaction is what takes place between a merchant and a customer when a product or service is purchased, commonly using a point of sale system to complete the transaction.
  • In its most basic definition, a POS system is a combination of POS hardware and POS software to create a POS machine for processing a transaction and payment.
  • a POS terminal is the electronic equipment performing the sales transaction and processing the credit card payments. Used in most storefront businesses, a computer terminal combined with the POS software helps to manage everyday sales transactions and operations.
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  • The hardware components bundle will typically include a POS terminal, receipt printer, credit card reader, cash drawer, barcode scanner, kitchen or bar printer (for restaurants), and possibly even an on-site computer server for older legacy systems
  • The primary reason you need a point of sale for a restaurant is to accept cash and credit card payments. In addition to receiving payments, you need to be able to track all your financial and tax data.
  • A restaurant management system is recommended if you’re a restaurateur and want to be competitive in the business. Many types of restaurants need to utilize a POS like full-service restaurants, quick-service restaurants, fast food, take-out only, cafe’s, pizza shop, etc
  • Recipe costing is just one example of features a restaurant computer system can provide. Some other features and services you’re going to need potentially are restaurant marketing, customer management, online ordering, loyalty program, server sales performance, new versus repeat customers, invoice purchasing, menu performance, employee management, and sales reporting.
  • The only negative to implementing a new restaurant management system is the training time and challenge of learning new software. But that’s only temporary,
  • The main features to look for in bar software is preauthorization (or “preauth”) of payments for tabs management, bar and liquor inventory and control, speed functions like reordering rounds, bar prep printing, fast checkout, and quality 24/7 support. For the reporting side, you’ll want to see your labor costs compared to sales, product reports, and all your sales and tax reports.Additional register features to consider for nightclub and bar point of sale software is employee management, inventory management, customer loyalty, recipes, tab management, quick reorder rounds, and quick customer checkout. Reporting is critical as well to keep track of your food and beverage taxes. Also, you’ll want to have online access to see your labor costs and sales reports
  • Retail businesses can have some particular requirements and features that other programs will not have. They can have retail shop features such as color and size matrixing, inventory tracking, employee commissions, gift registry, customer database, layaway, and purchase orders
  • If you’re not processing an enormous amount of volume and speed isn’t as critical (like in a restaurant or bar), then a mobile POS could be just the answer to save you some money
  • A cloud-based POS system is a point of sale platform that stores information on the cloud. Cloud-based systems typically don’t record much information on your terminal device. Instead, all data is stored in the cloud and synchronized across multiple terminals.
  • Nail and hair salon POS systems can sometimes crossover for other business types like barber shops, gyms, fitness clubs, beauty schools, massage parlors, pet grooming, tattoo parlors, to name a few. That is because these other business types will especially require an appointment calendar and may need retail functionality with inventory control, and not every software program has those features
  • In this POS guide, we discussed everything related to POS systems, including the meaning of POS, the definition of mPOS, what the difference is between a cash register and POS, how a point of sale system work, and the different types of systems with examples
  • kelseybarton on 18 Sep 20
     
    (1 of 3) POSUSA had originally published an article in 2017 about the definition of Point-of-Sale (POS) and a guide to understanding POS more in depth. This article was updated in May of 2021 to represent the ongoing challenges in the hospitality industry due to COVID-19. The article begins by defining a POS transaction as "what takes place between a merchant and a customer when a product or service is purchased, commonly using a point of sale system to complete the transaction." The original idea of a POS system was that of a cash register, but what is in the system make up today is far more complex. A POS system and a POS terminal are one in the same, as the terminal is the physical piece of equipment that processes the information for the POS. The system is composed of many different components as with any piece of technology. "The hardware components bundle will typically include a POS terminal, receipt printer, credit card reader, cash drawer, barcode scanner, kitchen or bar printer (for restaurants), and possibly even an on-site computer server for older legacy systems." These systems continue to make advancements that evolve with the times and can keep up efficiently with the business they are working with.
  • kelseybarton on 18 Sep 20
     
    (2 of 3) The article continues on to discuss the many different types of POS systems and how they can be used for different types of businesses. The restaurant POS system, for example, is the most complex POS system and is the most commonly seen system in the industry. Through the restaurant POS, a business can have a restaurant management system, which helps them run the business efficiently through features such as recipe costing, customer management, reporting, and many other features discussed. Bar, nightclub, retail, small business, salon, and spa POS systems all have very similar features, but are catered to each businesses specific operational need. Cloud-based and mobile POS systems are also discussed in the article as a way to store all POS information in the cloud. The advantages of mPOS were discussed in depth as this can be accessed through an application, making mobility much easier in our ever-advancing technological world.
  • kelseybarton on 18 Sep 20
     
    (3 of 3) The article also provided an introduction of how POS systems work, as a basic understanding is necessary when considering purchasing a system. Through understanding how the POS system works, we see that a POS transaction is "simply any transaction that occurs within a business." POS payment is "when a customer and merchant exchange products or services completing a POS transaction aka point of sale purchase," which can sometimes be referred to as point of purchase, or POP. Finally, the article discusses how POS systems have played a role during the pandemic. While online POS systems have been used for many years to keep businesses on their feet, during the current state of the world this has become even more necessary. The article discusses how important it is to keep the payment process simple, yet secure so that the business may rely on this as a way to make income and customers can enjoy a seamless experience. This article does a very good job of explaining in-depth what a POS system is and how it is relevant to every line of business in the hospitality industry. As online sales continue to grow and as the state of the world remains uncertain, POS system popularity will only continue to rise and advance to create the best possible experience for both the businesses and consumers involved.
Sherine Mattison

Customized POS Software | Alexandria Point of Sale - 0 views

www.alexandriacomputers.com/Customized-POS-Software-aid35

shared by Sherine Mattison on 06 Oct 12 - No Cached
  • As was mentioned above, the retail POS systems help in the sales transactions processes. The POS systems are one of the simplest and they are created in a way to operate with the purchase processes in ease and efficient way. Hence, the software has options for entering data which could possibly represent the whole inventory in the shop, for example. Additionally, when the purchase is made, the system automatically counts down the item from the inventory list and helps in that way contributes for improved inventory management. Also, regarding the customer relationship management and providing sales reports, there are other settings that could additionally be set in the particular POS software and all that for the purpose business operations to be more productive. Apart of the retail businesses, hotels and restaurants should have more complex POS systems. This is due to the fact that in such businesses which are service orientated, the POS software applied should be able, for example, to customize various orders from different tables and in alignment with that to keep track on price variations. The fact is that the POS systems that apply to service sector businesses such as restaurants, hotels and fast food businesses should be able to customize and manage multiple orders. Either the example is for fast food business, or dining out restaurant or even a hotel, POS software should operate with various orders made during the service process, and still providing the right bill for the right table, or the right bill for the right room order if the hotel business is taken into consideration. Clearly, when starting a business it is important to take the industry specific POS system into account. Therefore one should not just trying and finding the best deal, but rather invest in the system that will work best to make the everyday businesses activities more effective. Understanding why each system is unique will help when trying to make the decision for what type of POS system to purchase.
  • Sherine Mattison on 06 Oct 12
     
    "The retail POS systems help in sales transactions processes." It is one of the simplest ways to make purchases in an efficient manner. The system helps in inventory management by counting down items when a purchase is made. However, other businesses in the service industry have more complex system where the systen is made to manage multiple orders. "Therefore one should not just find the best deal but rather invest in the system that will work best to make evertday business activities more effective."
Eissy de la Moneda

GDSs are a drag on consumer choice - Travel Weekly - 1 views

www.travelweekly.com/...-are-a-drag-on-consumer-choice

technology hospitality business software travel tech GDS

shared by Eissy de la Moneda on 15 Sep 12 - No Cached
  • We like to pick our phone, our apps and our data plans and customize them to best meet our needs.
  • And we like the fact that we have multiple options when it comes to where to buy our phone and services, understanding that we benefit from competition, technology and the free market at work.
  • Rather, they now can customize their experience based on what they value and need, opting for choices such as in-flight WiFi, priority boarding, premium seating, meals or doubling their miles, among other criteria.
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  • They have purchased the loyalty of travel agents to their own distribution systems, providing incentive for them to ignore technology-driven, efficient solutions and making it virtually impossible for agents to use alternative distribution sources.
  • -- Sabre and Travelport -- continues to insist that airlines use the outdated GDS distribution paradigm and pay exorbitant fees to do so, which drives up the cost of travel for a
  • Online and traditional travel agencies account for some 60% of airline ticket sales, meaning that the GDSs control the distribution of a significant share of airline services and product
  • heir plan is to have the DOT force airlines to give them, free of charge, the ability to sell optional services such as checked bags, seat upgrades or club access. Their argument? They need to sell these services so consumers are not surprised by additional costs when they travel.
  • The GDS industry is lobbying the Department of Transportation (DOT) to protect its market dominance.
  • That is more than three times the cost of booking a ticket through an airline website or through promising new distribution technologies that can connect agents directly to airline reservations systems or indirectly through a GDS.
  • all consumers -- like to have choices.
  • evolutionary efforts are being opposed by a GDS duopoly
  • GDS technology has not yet evolved to enable the kind of customer-focused and customized shopping that other industries have embraced.
  • Airlines support consumer choice and full transparency,
  • Nicole Spencer on 15 Sep 12
     
    This article suggests that consumers now purchase in a more customized why with new technologies offered through applications and data plans through consumer's phones, tables and laptops. Airline consumers have recently changed their purchasing habits to choices such as in-flight WiFi, priority boarding, premium seating, meals or doubling their miles instead of the traditional schedules and fares. Airlines have veered to selling these types of customized travel services through direct selling to consumers and have eliminated the use of global distribution systems GDS. Airlines have found that the use of GDS's are more expensive to both the airline and consumer and that GDS's technology has yet to evolve to enable the kind of customer-focused and customized shopping that other industries have embraced. Now GDS's has ask that the Department of Transportation DOT to protect its market dominance by having DOT force airlines to give them, free of charge, the ability to sell options services as checked bags, seat upgrades or club access. Airlines believe that consumers should know what the are paying for.
  • Eissy de la Moneda on 06 Jun 13
     
    This article claims that GDS systems are actually limiting consumer choices. The author suggests that using new distribution technologies that connect us directly to reservation systems would be better for consumers because it provides them with all the choices the airlines can offer, without the extra charge. Purchasing a ticket through GDS is three times more expensive than purchasing the ticket directly. Airlines, which aim to support consumer choice and transparency with its customers, try to tailor travel options to accommodate a passenger's individual needs. However, GDS opposes this movement by urging airlines to use outdated equipment that requires its due fees, which in turn raises the cost of travel for consumers.  
lamia elachchabi

POS Software Trends 2012 | Top Stories | | Hospitality Magazine (HT) - 10 views

hospitalitytechnology.edgl.com/...POS-Software-Trends-201277312

shared by lamia elachchabi on 18 Jan 12 - No Cached
  • In 2011, many POS software developers focused on launching new options to help mobilize operators, connect them directly with their customers, and allow more visibility across the enterprise. Social media, cloud computing and mobile solutions dominated this year, and most vendors report these trends only growing stronger in 2012. Their input is covered in the “Vendor Innovations & Predictions” section.
  • This year’s survey also suggests that hospitality operators may be growing tired of waiting for the vendor community to develop acceptable tableside ordering devices, and are considering mobile phone-based POS as an alternative.
  • . When comparing 2012 purchasing plans to last year’s survey results, a trend emerges: more investment in the year ahead.
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  • Hospitality operators were also asked to share their POS purchasing plans for the year ahead . When comparing 2012 purchasing plans to last year’s survey results, a trend emerges: more investment in the year ahead. This is positive news for industry, as it shows that purse strings have loosened for IT budgets. In fact, it’s also a full reversal of the results of this survey from one year ago when, across the board, hospitality operators reported far less POS investment plans
  • The point-of-sale has undergone something of an identity shift over the past several years, as hard-wired, all-in-one units are being replaced by a variety of mobile devices.
  • Yue Zhang on 04 Feb 12
     
    For recent years, the operators in the hospitality industry are looking for the suitable solutions that allow them to break down the tableside ordering barriers, such as the mobile phone-based POS. In the annual report analysis for the POS Software Trends, the hospitality industry takes a look at industry-wide innovation priorities for this system. Among the talking with the developers for the enhancements for POS software in 2011, many developers focus on launching new options for mobilize operators.In this year, social media, cloud computing and mobile solutions are the three top and will continually growing in 2012. A trend for 2012 POS purchasing plan is, more investment in the year ahead. It is a full reversal of the results of this survey. Greatest number of operators plans to add new functionality and features to their current POS software in the year ahead. A third of operators plan to expand the installation base of the POS software they currently use. Researching and testing new POS solutions for possible future deployment will be the focus for 20.5% of hospitality industry.
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  • Carl Miller on 05 Feb 12
     
    I ran across this article while I was researching for my paper. It's pretty interesting and it gives you a sense of what changes could be coming to your favorite restaurants. I'm not surprised to see online and mobile POS systems being the most in demand. Those systems are pretty cost effective and have the potential to really increases sales.
  • chunxia gao on 05 Feb 12
     
    Maybe in the future, smart phone can do everything.
  • YUE LI (3325307) on 01 Sep 12
     
    This article focuses on the topics of POS Software Trends 2012 in hospitality industry. In the past several years, the POS has been changed from hard-wired, all-in-one units to a variety of mobile devices. Hoteliers are looking for the POS which is industry-tailored and affordable. According to the annual POS Software Trends report, enhancements and plans has been pointed out. In 2011, social media, cloud computing and mobile solutions are the main R&D aspects. They plan to pay more attention to Vendor Innovations & Predictions in 2012. HT has also pointed out the trends from the POS Software Reader survey. Firstly, from the POS features in demand, the top three are online ordering, mobile phone-based POS applications, and interesting innovation. What's more, mobile phone-based POS would be possibly replaced the tableside ordering devices. Secondly, from the POS purchasing plans aspect, more investment will be occurred in the next year. But in fact, hoteliers reported far less POS investment plans. The top three plans are to add new functionality and features to the current POS software, to expand the installation base of the POS software they currently use, and to develop and/or deploy a POS for use on a mobile device.
  • You Lu on 02 Sep 12
     
    In the few years, the hardwires are replaced by a plenty of mobile device. For example, Motorola mobile companys retail the enterprise tables to the hotel operators. The hotel operator should pay for the enterpeise tables. The annual POS Solftware Trends report fingers out that the hospitality technology takes a look at industry-wide innovation priorities for POS software. POS features has a high demand in the hospitality industry.
  • Nelson Placa on 03 Sep 12
     
    Great Post! There are some companies that are working on a new products that would allow guests to simply wave their room key on the POS system and the system will register their room key information versus charging to manually to the room with just the room number. One of the biggest issues in the industry is making sure that the POS system in the hotel interfaces with the PMS system. Without the interfacing, hotels face balance check variance and possible loses.
  • Yaping Li on 06 Oct 12
     
    This article introduces the trends of POS in hospitality industry. It lists some data to show the hospitality operators consider mobile phone-based POS instead of tableside ordering devices. It also list the information about the hospitality operators plans to add new functionality and features to their current POS software.
  • lamia elachchabi on 30 Jun 13
     
    The points of sale have changed over the years. The hard wires, all in one unit are being replaced by mobile devices. As the article mentions, hospitality operators have been looking for solutions to break tableside ordering barriers. After motorola released a tablet, the software community has been working in developing applications for both consumers and employees. The POS software developers are been asked about the improvement happening in the technology. Social media, cloud computing and mobile solutions are growing trends. Hospitality operators were asked which POS platform innovation are they looking for. The POS features in demand are: Online POS Mobile phone based POS ordering Enterprise wide centralized POS Table side POS ordering Cloud computing Software as a service Open source There is an increase in investment for POS development. The POS features purchasing plans: Add new functionality features and modules to POS Test and research new POS solution for possible implementation after 2011 Install POS on a wireless network.
jasdhami95

British Airways taps fintech startup Banked for new loyalty offering | PhocusWire - 1 views

www.phocuswire.com/rs-with-fintech-startup-banked

loyalty tech rewards digital payments airlines fintech

shared by jasdhami95 on 30 Aug 20 - No Cached
  • British Airways Executive Club members who make an online purchase with a Banked merchant can collect Avios, the rewards currency of BA Executive Club
  • far more accessible and fair loyalty system”
  • Merchants, meanwhile, can offer Avios to customers without having to accept credit cards with high processing fees
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  • Merchants that integrate the Banked and Avios checkout option stand to gain increased customer loyalty, conversion rates and a higher average order value.
  • With 78% of consumers making purchasing decisions based on loyalty points, being able to offer Avios through the Banked network will help our merchants increase conversion rates and improve customer loyalty
  • jasdhami95 on 30 Aug 20
     
    Fintech startup company, Banked, has partnered with British Airways to provide a new and effective form of payment for their airline loyalty members to pay for online purchases using BA Avios. BA Executive Club members can now use their bank account via Banked and merchants will be able to offer the Avios option at a fraction of the cost of credit card processing fees. (2-4% vs 0.1%) This new partnership will lead to increased customer loyalty, conversion rates along with higher average order value. Banked is currently integrated with may of the largest banks in the United Kingdom, including Barclays and HSBC. Banked CEO stated that 78% of consumers in the UK are making purchasing decisions based on loyalty points, which will extremely increase customer loyalty from the British Airways Executive Club members. In my opinion, this is an excellent way for loyalty club members, especially airline and hotel rewards members, to be able to utilize their points or miles that have been of no use due to the pandemic. This has already been integrated in the United States through Chase, American Express, and Citibank where rewards points can be used for purchases online and even on Amazon. This was the correct step for BA because they will be able to retain loyal customers until travel restrictions are lightened.
Juan Du

Accounting technolog Used in the Hotel Industry | - 5 views

www.ehow.com/grams-used-hotel-industry.html

shared by Juan Du on 07 Feb 12 - No Cached
  • Hotels rely on different tools, including their accounting software, to increase their effectiveness and make them more competitive in their core business.
  • Hotels can decide to purchase accounting software dedicated solely to one function or can invest in enterprise software. Some chains have opted to outsource their accounting operations to major computer companies and accounting firms.
  • The percentages of room-rate vacancy and seasonal trends are evaluated and measured against the best establishments to assess hotel performance.
    • Juan Du
      Juan Du on 28 Feb 13
       
      Hotel managers are often faced a lot of problem to deal with the accounting system. Now hotel manager can manage all of the accounting responsibilities by use hotel accounting technology. Using Web-based hotel accounting software can save your business money . The functions covered in all of the accounting systems.
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  • Decisions governing selection of accounting programs depend on multiple factors including the uses of the accounting programs.
  • Hotel managers are often faced with the challenge to propose and procure the appropriate technology and software to run their operations.
  • This article describes major factors to weigh in selecting accounting software for the hotel industry.
  • Decision Criteria Used in Selection Process: Major factors identifying selection of accounting programs used in hotels are: ---Annual revenue ---Budget ---Location ---Multiple sites ---National or international location ---In-house vs outsourced operations
  • Accounting software is crucial in measuring and tracking the hotel's profitability.
  • Functions covered in accounting software programs include: --Accounts payable --Accounts receivable --Budgeting --Cash management --General ledger --Sales analysis --Payroll --Procurement --Order entry --Fixed assets --Inventory management
  • Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry.
  • This article describes major factors to weigh in selecting accounting software for the hotel industry.
  • Decisions governing selection of accounting programs depend on multiple factors including the uses of the accounting programs.
  • Hotels rely on different tools, including their accounting software, to increase their effectiveness and make them more competitive in their core business.
  • Accounting software is used to track room-rate revenues and identify any discrepancies that require remediation and corrective actions.
  • Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry. Careful consideration of the purpose, functionality and desired results from accounting software must be taken prior to selection and purchase.
  •    This article describes major factors to weigh in selecting accounting software for the hotel industry.
  • Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry. Careful consideration of the purpose, functionality and desired results from accounting software must be taken prior to selection and purchase
  • How to Select Hotel Accounting Software:     Decisions governing selection of accounting programs depend on multiple factors including the uses of the accounting programs
  • Decision Criteria Used in Selection Process: Major factors identifying selection of accounting programs used in hotels are: ---Annual revenue ---Budget ---Location ---Multiple sites ---National or international location ---In-house vs outsourced operations
  • Accounting software incorporates the widely used Generally Accepted Accounting Standards (GAAP) and focuses on key measures unique to the hotel industry, such as revenue per room (RevPar)
  • Accounting software encompasses multiple functions of a hotel's operations, ranging from data mining to running financial reports.  Functions covered in accounting software programs include: --Accounts payable --Accounts receivable --Budgeting --Cash management --General ledger --Sales analysis --Payroll --Procurement --Order entry --Fixed assets --Inventory management
  • Print this article DartUtils.loadGoogle160 = function() { dmjs.runInlineAd = true; $('.AdUnit160').hide(); $('.AdWrapper').addClass('no160'); }; dartAds.renderiFrameAd([{ sz: '160x600' }], 160); How to Select Hotel Accounting Software:    Decisions governing selection of accounting programs depend on multiple factors including the uses of the accounting programs
  • Hotels rely on different tools, including their accounting software, to increase their effectiveness and make them more competitive in their core business.
  • Hotels can decide to purchase accounting software dedicated solely to one function or can invest in enterprise software. Some chains have opted to outsource their accounting operations to major computer companies and accounting firms
  • Accounting software is used to track room-rate revenues and identify any discrepancies that require remediation and corrective actions.  The percentages of room-rate vacancy and seasonal trends are evaluated and measured against the best establishments to assess hotel performance.
  • The hospitality industry has had steady growth, with increasing demands for internal controls and financial accountability.  Accounting software is crucial in measuring and tracking the hotel's profitability
  • Areas of Functionality in Hotel Accounting Software
  • Areas of Functionality in Hotel Accounting Software
  • Ruth James on 07 Feb 12
     
    This article describes accounting software functions within the Hotel industry. The article states that "Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry". It is said that when selecting accounting software, you must identify what results you are looking for from the software; and also the functions that you are able to receive. You must also understand the needs of your property, and industry. The article also discusses various decision criteria, which is a part of the selection process. Some of these criteria's that you must look out for are: annual revenue, budget, location, multiple sites, national or international locations, in-house verses outsource operations. I love the fact that this article also discusses the functions of hotel accounting software. Some of those functions that were stated are: account payable, account receivable, and payroll. The article also brought up some trends about hotel and lodging accounting software. One of the trends that stand out to me was the fact that some companies hand over their entire accounting responsibilities to major accounting companies or, accounting firms; this is referred to as outsource. Having a accounting software is a very beneficial asset for a company.
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  • Ligia Elizondo on 01 Mar 12
     
    This article talks about the importance of choosing the right accounting software for hotels. Hoteliers need to take into consideration the purpose, functionality and desired results before selecting accounting software which "is used to track the profitability of hotel operations and identify trends in the hospitality industry." In order to select a hotel accounting software it has to match the needs and functions of the premise. Some of the most important factors in the selection process are annual revenue, budget, location, multiple sites, national or international location, and in house vs. outsourced operations. "Accounting software encompasses multiple functions of a hotel's operations, ranging from data mining to running financial reports." Some of the major functions in accounting software are accounts payable, accounts receivable, budgeting, cash management, general ledger, sales analysis, payroll, procurement, order entry, fixed assets, and inventory management. The hospitality industry is reporting increasing demands for internal controls and financial accountability therefore is very important that hotels select the right accounting software because is in charge of keeping records of the hotel's profitability. In addition accounting software reports room rate revenues and discrepancies and use the Generally Accepted Accounting Standards.
  • Diane Cacho on 02 Mar 12
     
    Accounting software programs are essential to the hospitality industry because it helps organize and keep track of the hotels operations and its profits. It's important to select the right accounting software that will help tie in the needs and concerns of your hotel. The significant factors to look upon in choosing the best program for your business are annual revenue, budget, location, multiple sites, national or international location, and in-house verses outsourced operations. Accounting software incorporates multiple roles of a hotel's operations such as data mining and running financial reports. Hotels can choose to purchase accounting software devoted exclusively to one purpose or can invest in enterprise software. The hospitality Industry counts on the different tools, as well as their accounting software, to increase their usefulness and creating them to become more competitive in their central business.
  • Marcia Brown-Kelly on 02 Mar 12
     
    I believe one of the most critical items missing from the selection process when purchasing accounting software is the need have interface with the PMS system. This would be a more integrated approach for the smooth transition of front and back of house operations.
  • Ganna Gorbachuk on 05 Mar 12
     
    Marcia, you are right! Its a very important idea, to have interface with the PMS system. As for the main topic of this discussion accounting is a step for understanding the factors which influence your business positevly and negatively, in order to use proactive or reactive strategy. Some things that should theoretically work in your business can actually be unsuccessful, so financial data analysis is a key for problem-defining and therefore for finding solution.
  • samira sobhani on 30 Jun 12
     
    This article gives some useful hints on how to choose an accounting software for your hotel business and what are the tips and tricks. There are lots of accounting software packages in the market which has a number of different options but the point is that each of these features will match a specific  need.  
  • Chelsey Alvarez on 01 Jul 12
     
    This article is about choosing the correct accounting software for the hotel industry. Through different types of software you are able to track the profitability of a hotel.
  • marilyn diaz on 18 Sep 12
     
    This article is about how a hotel should choose their accounting program. There are many things to consider when choosing the right program for your institution. It is not just what is more cost effective, but what does it include and are they things your hotel needs. It is like a PMS system, you get some basics, but you also may need to be able to add more options, or none at all. Another factor when selecting this program is the size of your hotel. If it is one hotel or a chain. Accounting software is crucial in measuring and tracking a hotel's profit. In conclusion, when hotel management buys an accounting program, they must analyze the software, and not just buy the first one they come across.
  • Erica Davis on 23 Sep 12
     
    This particular article discusses the need for accounting software programs within the hospitality industry. These programs can do just one thing or be all-encompassing, such as an enterprise program. Accounting programs still have to follow the Generally Accepted Accounting Principles (GAAP), which regulate the accounting industry. They help track the profitability of the company, amongst other things. Additionally, hospitality companies must be very careful in choosing the right program. These programs can help managers run a business more effectively but it has to be matched with the right program. There is also the option of outsourcing the accounting function to a third party, which could save a lot of time and money down the road. Erica
  • Qianlin Wang on 16 Oct 12
     
    Hotel software is designed for all areas of hotel operation including property management, accounting, GDS reservations, central reservations, reception, POS, spa/club/golf management, guest management, inventory management, yield/revenue management, accounting, and web site design. Small hotel software is available for properties with less than 100 rooms and focuses on basic front and back office functions and/or reservations and guest management. One of the major types of hotel software used by the hotel/motel industry is accounting programs. Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry. To select good accounting software for the hotel depends on multiple factors including the uses of the accounting programs. Accounting software incorporates the widely used Generally Accepted Accounting Standards (GAAP) and focuses on key measures unique to the hotel industry, such as revenue per room (RevPar). Knowledge experts should be familiar with both general accounting rules as well as industry specific guidelines.
  • haojingting on 20 Oct 12
     
    This article describes major factors to weigh in selecting accounting software for the hotel industry. And Major factors identifying selection of accounting programs used in hotels are: ---Annual revenue ---Budget ---Location ---Multiple sites ---National or international location ---In-house vs outsourced operationsThe hospitality industry has had steady growth, with increasing demands for internal controls and financial accountability. Accounting software is crucial in measuring and tracking the hotel's profitability. And besides the normal functions, the advanced accounting software can be used to track room-rate revenues and identify any discrepancies that require remediation and corrective actions. The percentages of room-rate vacancy and seasonal trends are evaluated and measured against the best establishments to assess hotel performance.
  • Xue Yan on 20 Oct 12
     
    The article demonstrates that accounting software in hotels is used to track data of hotel operations, to make future decisions and some other functions related to finance and daily operations. So hotels should consider several aspects while establishing accounting software. Such factors affecting decisions are like: Annual revenue, Budget, Location, Multiple sites, National or international location and In-house vs outsourced operations. Regarding the trend of accounting system, the article says that accounting software can make the hotels more competitive and more effective.
  • rebecca Bonet on 20 Oct 12
     
    The article describes major factors to weigh is selecting accounting software for the hotel industry. Accounting Software is used to track the profitability of hotel operation and identify trends in the hospitality industry. Hotel industry carefully finds out what will be a great functionality and result before purchasing accounting software. First of all, selecting hotel accounting software and the uses of the program. Secondly, identifying the selection of accounting program, used in the hotel. For example, annual revenue, budget, location, multiple site, etc. The article discusses the function of hotel accounting software. Some of the functions are hanging from data mining to running financial report. Also, the article discuses about lodging accounting software, one of the example that they used is that they really on different tools including their accounting software to increase their competitive in their core business. The article talks about accounting Software Metrics in the hotel industries. They use this Metrics by tracking room rate revenues and by doing the room- rate vacancy and seasonal trends. Having the accounting software in hotel is very important for the industry
  • Xiameng Zheng on 19 Feb 13
     
    The hospitality industry has had steady growth, with increasing demands for internal controls and financial accountability. Accounting software is crucial in measuring and tracking the hotel's profitability. Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry. So it's important for hotel manager to choose the suitable accounting software. This article tells how to select hotel accounting system properly. Including the decision criteria used in selection process, areas of functionality in hotel accounting software and standards used for accounting and auditing in hotel industry, etc.
  • Juan Du on 28 Feb 13
     
    Hotel managers are often faced a lot of problem to deal with the accounting system. Now hotel manager can manage all of the accounting responsibilities by use hotel accounting technology. Using Web-based hotel accounting software can save your business money . The functions covered in all of the accounting systems.
llibe010

7 Benefits of Proximity Marketing & Strategies - 0 views

atztechnology.com/proximity-marketing

technology hospitality software travel mobile hotel

shared by llibe010 on 15 Nov 22 - No Cached
  • To identify a certain individual’s location, a marketer might choose to use various mobile location technologies that are available in modern smartphones such as Global Positioning System Technology, Cell Phone Triangulation, and so on. To further enhance the potential of proximity marketing, Bluetooth technologies and WiFi technologies are also utilized broadly
  • There are major retailers that can successfully use proximity marketing. For example, consider Macy’s, which can choose to do it. If they send store maps or coupons or offers applicable for their credit card to their customers nearby, it will fall under this proximity marketing. Not only these, but retailers can also attract people to enroll in their rewards or loyalty programs as well.
  • The real estate business is another sector where proximity marketing can be applied in search of creating high value. Those who are realtors can easily find it out who is in need of new homes, office spaces, rentals, etc., and then show him/her advertisements that will be helpful. In this way, both parties get benefitted.
  • ...8 more annotations...
  • Last but not the least, proximity marketing is absolutely useful for the ones in the travel business. Business owners in the travel industry display information and details about nearby events rewards related to specific destinations, deals, best accommodation options, most attractive local tourist spots, transport hire farms, etc. to people.
  • Proximity marketing can be beneficial for you in lots of ways. For starters, this is a type of marketing that can help you customize the way you interact with your customers and the types of content that you present in front of them.
  • If you are the owner of a mobile application, then you can use proximity marketing strategies and increase your customers’ engagement with your mobile app. By using geo-tracking you can send push notifications according to the location. 
  • Proximity marketing is really cost-effective, considering the fact that here. In this case, you don’t have to advertise your business to all of your customers. 
  • To build the best interactive app which helps the customers more. Moreover,  that improves more engagement and retains a good number of customers.
  • Improving the app engagement proximity marketing advertising aid to give you the certain convection. Through proximity marketing, you can make proper and accurate camping set up according to the situation so that the audience wants to purchase from the particular brand. Retailers can promote and give more enticing offers and discounts via push notifications. 
  • The key aspect of proximity marketing is better customer experience in one to one. The business app sends personalized messages with better offers to the customer.
  • The average CTR can be high on your app more than 80% if the push notification can be set in a perfect way. The more people say on the app the change is more to improve the selling ratio as well. Moreover, the push notification works better than the Google ads and Facebook to improve the CTR. 
  • llibe010 on 15 Nov 22
     
    The chosen article provides an overview of proximity marketing and its benefits for improved consumer satisfaction and loyalty. Particularly, the article suggests that proximity marketing helps to personalize the consumer experience and provide a sense of connectedness with the brand they are purchasing from. Businesses that manage from a specific location may issue coupons or offer discounts applicable to the consumers within a store to enhance purchasing experiences. Proximity marketing is commonly implemented by hospitality organizations, where various on-site events are arranged or individual purchase-based rewards are offered to consumers. Similarly, restaurants engage their consumers in fun activities and games as well as introduce new discounts and promotions while they wait for food. Real-estate businesses also use proximity marketing to create high-value where need and preference-based homes, office spaces, and rentals are offered. However, advertisers need to be aware of consumer preferences to offer useful and effective personalized services. Geo-targeting is an impactful proximity advertising technique where location data is used to tailor offerings as per the identified local trends and behaviors.
Yue Li (3011472)

How To Choose A Property Management System - 0 views

masteringmotelmanagement.com/property-management-system

PMS

shared by Yue Li (3011472) on 25 Sep 12 - No Cached
  • Yue Li (3011472) on 25 Sep 12
     
    There is a misconception that all PMS are the same. Although basically, they have similar functions, they are not the same. PMS used for restaurant cannot be used in a hotel, and PMS used in a bed and breakfast and that in a luxury hotel are different. It is important to choose the most appropriate PMS for a property. Managers need to consider some things before purchasing a PMS. First, what are the specific needs of your particular businesses? Second, the PMS that a hotel buy cannot have too many weakness compared with its strengths, because too many weakness will make the purchasing a poor choice overall. Third, the cost of purchasing a PMS cannot conflict with financial budget. Even if a manager did all three above, it is inevitable that the PMS you bought are not perfect, however, this imperfection is acceptable.
anonymous

Credit Card Security Systems: 3-D Secure™ and SecureCode™ / GSPAY - 0 views

www.gspay.com/edit-card-security-systems.php

credit card security systems

shared by anonymous on 12 Jul 13 - No Cached
  • Many Ecommerce merchants and credit card holding online consumers are concerned with credit card fraud. CNP transactions and with them credit card fraud cases have become too popular lately.
  • Visa’s 3-D Secure™ and MasterCard’s SecureCode™
  • Visa’s 3-D Secure™, a key component of The Visa Authenticated Payment Program, adds extra security protection to SSL (secure socket layer) secure forms. The 3-D Secure™ system is supposed to decrease the number of chargeback disputes and fraud cases by 80%
  • ...5 more annotations...
  • The benefits or Visa’s 3-D Secure™ are clearly seen: high level of security for consumers, a significantly lower chance of chargeback and credit card fraud, and overall confidence in CNP transactions.
  • As for MasterCard’s SecureCode™ is resembles Visa’s 3-D Secure™. MasterCard credit card holders register at MasterCard’s SecureCode™ website and asked to provide a personal secure code, which will then be asked for when purchasing online.
  • he benefits for e-Commerce merchants using Visa’ 3-D Secure™ and MasterCard’ SecureCode™ technologies are:
  • The benefits for consumers who make purchases at e-Commerce online stores bearing the 3-D Secure™ or SecureCode™ logos, thus using 3-D Secure™ or SecureCode™ for safe processing are:
  • 3-D Secure™ and SecureCode™ will definitely improve the world of e-Commerce and CNP online shopping.
  • anonymous on 12 Jul 13
     
    This article is about the concern of customers paying their purchase online, and not through a machine as is the most typical way to do it. But for many this transaction is not safe at all, there could be hackers that can make fraud. This is why two of the most popular CC companies has developed the Visa's 3-D Secure™ and MasterCard's 28SecureCode™ to keep their customers safe, these cards requires a personal security code for every transactions and other personal information in order to keep the purchase safe and some others requires a monthly fee to obtain this service.
rnobl005

Booking Holdings Buys Activities Distribution Startup FareHarbor - Skift - 0 views

skift.com/...istribution-startup-fareharbor

shared by rnobl005 on 22 May 18 - No Cached
  • Booking Holdings Buys Activities Distribution Startup FareHarbor – Skift
    • rnobl005
      rnobl005 on 22 May 18
       
      Module 3: Networking (Rebecca Noble) I came across this story a few weeks ago and thought it made sense to post about this week as it has to do with e-commerce. Booking Holdings' recently purchased a start up called FareHarbor in what is speculated to be a $300 million deal. FareHarbor is a reservation system designed for tour operators to distribute and sell their products online. Booking Holdings used to be known as the Priceline Group - the company now owns Booking.com, Priceline, KAYAK, OpenTable, and a few other tourism related brands. The idea is that customers buying a hotel room in Paris who know they want to take a tour of the Eiffel Tower can package those two purchases together. This deal is evidence that travel corporations are making a big push to be full service agencies and e-commerce plays a big part in the ability to do so. The article cites a few other similar deals, specifically Expedia.com partnering with a restaurant reservation platform called, Reserve (reserve.com/about). It also talks about Airbnb's own tour offerings, which they call Experiences. There are many other companies similar to FareHarbor that allow tour operators to sell their products online, many of which specialize in a specific geographic region. As such we may see large corporations like Booking Holdings buy these smaller companies so they have tours in popular destinations worldwide.
  • Booking Holdings said Thursday that it will acquire U.S.-based, experiences booking-software provider FareHarbor.
  • The FareHarbor acquisition will help provide content to expand Booking.com‘s upselling of consumers on tours after the consumers have already bought another product from the online travel giant.
    • rnobl005
      rnobl005 on 22 May 18
       
      Booking Holdings will utilize the tour excursions supported by the FareHarbor software as an upsell when customers are purchasing other products on Booking.com.
  • ...6 more annotations...
  • The price tag could be relatively “hefty” — as in more than $300 million — speculated one source who is knowledgeable about the tours and activities sector.
    • rnobl005
      rnobl005 on 22 May 18
       
      $300 million is a HUGE price tag. I think this purchase is a significant statement on the importance of e-commerce in the tourism industry.
  • Both deals — FareHarbor and Reserve — accentuate an accelerated focus on in-destination activities, whether they are visiting a hot restaurant or tours and attractions.
    • rnobl005
      rnobl005 on 22 May 18
       
      Reserve is an e-commerce software system used for restaurant reservations. They recently made a deal to become the exclusive restaurant reservation provider for Expedia.com.
  • Airbnb officials recently said that they plan on being in 1,000 cities with their Experiences product by the end of this year, and they project profitability in Experiences by 2019.
    • rnobl005
      rnobl005 on 22 May 18
       
      In addition to offering local places to stay, Airbnb now offers tours, or what they call "Experiences." I've heard mixed reviews about this service. They spin it as touring the city you are in with a local guide. But that guide could legitimately mean any person off the street. Guides that lead tours and excursions through legitimate tour operating companies have way more experience and depending on the city they are in have to pass some sort of certification examine to lead tours.
  • The purchase denies TripAdvisor’s Experiences unit a chance to enhance its relationship with suppliers and to make the end-to-end technology experience more seamless between suppliers and consumers.
    • rnobl005
      rnobl005 on 22 May 18
       
      TripAdvisor is a competitor of Booking Holdings, so this deal can be seen (according to the author of the article) as a defensive tactic to control the market.
  • Notable players in B2B tech include Bokun, Musement, Once There, Palisis, Redeam, Regiondo, Rezdy, Rezgo, Tiqets, TourRadar, TrekkSoft, Trip.me, and Veltra.
    • rnobl005
      rnobl005 on 22 May 18
       
      This are all companies similar to FareHarbor that support tour operators in various parts of the world. The majority of Rezdy's tour inventory, for example, is in the Asia Pacific region. With so many individual companies offering similar services I can see large companies making a move towards purchasing smaller companies to expand their reach geographically.
  • FareHarbor debuted a predictive pricing platform powered by artificial intelligence to help operators select optimal rates for activities.
    • rnobl005
      rnobl005 on 22 May 18
       
      Having worked for a tour operator I can see why this is a super lucrative tool. Tour pricing adjusts seasonally based on when the destination is in peak season. Having AI tell you when to adjust the price on your product is a vast improvement operationally because you don't have to dedicate the time to monitoring sometimes thousands of tours by hand.
  • rnobl005 on 22 May 18
     
    Module 3: Networking (Rebecca Noble)
anonymous

The $28 billion opportunity for hotels | PhocusWire - 0 views

www.phocuswire.com/billion-opportunity-for-hotels

cross sell upsell

shared by anonymous on 12 Sep 20 - No Cached
  • Ancillary bookings represent a significant opportunity for hotels to add revenue while increasing guest engagement. The airline industry adopted the practice of cross-selling and up-selling trip extras more than a decade ago with impactful results.  How can hotels do the same and best complete their guests' travel experience by offering products beyond hotel rooms?
  • This article will share some of the findings of the new white paper, which show that the majority of business travelers surveyed are very interested in purchasing either on-site or off-site extras. The research also identifies business traveler segments and details the preferences on when, where, and what extras business travelers are interested in buying.
  • business travelers are receptive to offers that will make booking their trip easier.
  • ...7 more annotations...
  • Hotels that participated in the white paper cited reasons why they do not currently offer ancillary services. Many talked about resources, including a lack of technology to streamline ancillary offerings for both on-site and off-site trip extras. With many hotels having their staff and management doing multiple jobs, hotel management is reluctant to add another task to management’s plate. This highlights the need for digital ancillary technology to address these valid concerns and reduce such effort while simultaneously scaling the operation.
  • managers are focused on perfecting the on-site process, instead of branching out and offering new services to differentiate their brand from their competitors.
  • Hotels, both large chains and independent boutiques, can learn from other companies in the travel sector who have successfully implemented an ancillary sales strategy.  Airlines were quick to offer ancillary services more than a decade ago. Now these non-core services such as priority booking, baggage fees and car rentals make up an estimated US$28 billion in revenue annually for the top ten airlines. This trained travelers to  purchase travel add-on services during checkout, and at other cross-sell merchandising points such as confirmation emails.
  • ancillaries that increase productivity provide value.
  • Trip extras that increase productivity include wifi access, early check-in/ late check out to continue working between meetings and travel. More than 70% of business traveler respondents indicated they are interested in purchasing more than core hotel products such as on-site dining, retail sundries and transportation options
  • Business travelers surveyed were most interested in purchasing off property local dining (36%), access to fitness/wellness activities (32%), and tickets to live shows/ events (31%), while in destination or on the day of service.
  • An ancillary strategy that is managed and implemented, with constant communication at the individual properties, can offer a consistent guest experience across the brand. Off-site ancillary offerings are opportunities for hotels to access more wallet-share for the business traveler’s trip. Offering car rentals, or restaurant reservations through strategic partnerships and additional loyalty points add revenue streams to the hotel, boosting profits without increasing ADR.
  • anonymous on 12 Sep 20
     
    The article describes how hotels have been late in adopting the cross-selling and up-selling trip extras that airlines have been so successful with over the last decade or so. It also summarizes the results of research done by Phocuswright with iSeatz which found that the majority of business travelers surveyed are interested in purchasing additional on-site extras and off-site extras. The research also found that the hotels that were surveyed cite reasons such as a lack of technology and stretched resources at hotel level as barriers to implementation.
  • anonymous on 12 Sep 20
     
    The author fails to recognize that the e-commerce platforms developed by the airlines over the past decade have been focused on selling unbundled extras, whereas until recently the hotel e-commerce platforms have been very focused on offering the customer bundled packages and only had limited capability for up-selling and cross-selling.
Yu Zhai

Eco-Friendly Practices: Deeper Shades of Green in Hospitality - Hospitality Sustainable... - 0 views

www.hspiconsortium.com/...shades-of-green-in-hospitality

hospitality sustainable practices

shared by Yu Zhai on 21 Jan 12 - No Cached
  • The company replaced its signature quilted bedspreads with unquilted coverlets. The new coverlets minimize washing and drying time, thereby conserving energy. New window treatments have increased energy efficiency. The all-new design also incorporates wood-effect flooring made from unused industry scraps, fluorescent light bulbs in all rooms, low flow shower heads, high efficiency toilets, and high efficiency heating and air-conditioning units.
  • Greening through the Supply Chain and Purchasing Sustainable purchasing practices vary widely, but there is a growing industry movement to become more sustainable through strategic selection of products and services.
  • Some view sustainability through the performances of recycling programs, energy efficiency, water conservation, or waste minimization, others through the lens of corporate social responsibility.
  • Yu Zhai on 21 Jan 12
     
    This article is talking about current situation of how green concepts influences hospitality industry. Become more and more green and sustainable is the goal of many hotels, they've tried to achieve the goal through many ways in recent years. The hospitality industry is recognizing the compelling need to adopt sustainable operating practices for the sake of efficiency, cost savings and green building requirements. And also they are considering whether green can drive greater returns. Corporate travel executives set the rewards to encourage sustainable purchasing by reward. In fact, different people have different opinions of "green". Mostly, hostels chose to become more sustainable through strategic selection of products and services. Such as they use the conserving energy coverlets, shower, window, toilet and so on. Besides, hospitality managers want a consistent guidelines and performance targets to be used by purchase influencers and decision makers to make solutions for cost saving more effective. Now there are more and more people realize this concept and there already has a preliminary guideline for prioritizing actionable, practical solutions to achieve long-term growth of having a "green forest in hospitality".
Ganna Gorbachuk

Transforming Business with Mobile Payments - 12 views

www.entrepreneur.com/...222459

tech Software business mobile small solution

shared by Ganna Gorbachuk on 11 Jan 12 - No Cached
  • Mobile systems are transforming the payment environment. According to investment bank Barclays Capital, U.S. mobile commerce sales--that is, purchases made on smartphones and tablets--hit $5.3 billion in 2011, up 83 percent from the year before. Generator Research, a consulting firm specializing in digital media, projects that by 2014, usage by consumers will grow 600 percent to 490 million worldwide.
    • Joe Cilli
      Joe Cilli on 11 Jan 12
       
      Interesting information. Keep in mind there is a high level of cannibalization in that mobile sales are increasing, but the bottom line is unchanged because in-store sales are decreasing. In short, the amount of transactions and dollar amount is roughly the same; it is, however, important to recognize the shift in consumer purchasing patterns.
  • Jeremy Fairley on 11 Jan 12
     
    Great article on the rise of mobile payment systems and how businesses who in the past may have been cash only or otherwise are seeing increased sales as the ability to take credit card payments with little hardware and software infrastructure costs. Down the street from me is probably my favorite Rib joint in town, Uncle Rodney's House of Ribs is the name. I love that place, but rarely go because they are a cash only business due in large part to the fact that the owner does not wish to pay for wireless or otherwise internet related services to make his business able to accept credit cards. What are everyone's thought to the increased use of mobile payment systems for restaurants and other businesses?
  • ...6 more comments...
  • Carl Miller on 11 Jan 12
     
    I think mobile payment systems are great. I personally have not used them very much but I think they would be very handy at events. I am a Timberwolves season ticket holder and my seats are close to the court where a serving staff is able to get food and beverages for you. Fans are able to pay with credit cards but the server has to take your card to the back area to ring everything up. If the servers were able to carry mobile credit card readers they would be able to speed up transactions and take more orders. It would be a benefit to everyone - the team would be able to sell more items, the servers would make more tips, and the fans would be more satisfied. If someone wanted to keep an open tab until the end of the game I'm sure there could be an app for adding items to a specific seat location instead of doing multiple credit card transactions. I'm sure mobile payment devices are being used by staff at many events and I'm a little surprised it hasn't made it's way into the Target Center yet.
  • YONGHE FAN on 14 Jan 12
     
    That is an interesting artivle talking about the mobile payment that i have not seen in my life. If i was a owner of a store or a restaurant, i would like to try this technology that help to save my money and increase my businesses. On the other hand, as a customer who is asked to pay in this way, i would worry about the security problem because i dont know how it works.
  • Yu Zhai on 15 Jan 12
     
    It sounds great. I think it is convenience, cause I can pay by my phone whenever I need. But maybe the biggest problem is the security. How to guarantee it, we always use mobile connect ing internet which increase the danger coefficient.
  • Bing Liu on 16 Jan 12
     
    I like this idea of mobile payments. It saves business people time and money which they were supposed to spend on the traditional way of credit card payment. It turns out more likely to be a self-monitored business transaction way. However, before signing the contract, the business owner should consider the security level of this payment method from the customers's standpoint. I'm pretty sure that some customers may feel weird and unsecured when they swipe their card on a mobile device.
  • Mary White on 16 Jan 12
     
    This is a fascinating article. On one hand I can absolutely see the benefits for a mobile business or a business that increases it's sales by accepting mobile payments. It also seems that security would be increased for the merchant as there is not much cash available on hand for petty thieves. The crooks of the future will need to be technologically sophisticated. The increased use of smart phones has greatly increased my small business as many of my customers make their purchases through their smart phones. My personal concern is that our country will see an increase in debt and over spending as purchasing with your credit card account becomes even easier. Will it even be possible to pay with cash in the future or will it all be electronic? Also, what happens if your cell phone is stolen and all of your financial world is on there. Do these scanning systems have much security if there is not a credit card to verify a signature against? Is everything stored in cyber space where the phone thief cannot reach it without expensive technical knowledge?
  • Ganna Gorbachuk on 17 Jan 12
     
    While a few hundred years ago a life of an average person in a small town could consist of two or three events as a war in his country, governor's marriage and a crime in the neighborhood. In today's world the same as centuries ago every moment is full of things which happen somewhere but now we have a unique opportunity to know about them almost few seconds after they happen. Technology can make a huge difference in a small business when an employer finds a right time to use innovation, as Miki Nishihata and Joey Garza did. Their companies got an advantages of using card readers. Mobile systems are transforming the environment of sales and payment processing. A thing which simplifies the prosess of transaction is a benefit because a lot of consumers prefer FAST and EASY shopping when every minute may cost. Assuming all this information a Square company was created by Twitter co-founder Jack Dorsey and glass artisan Jim McKelvey. Nowadays almost everybody has a mobile phone and credit card and combining those two things with an innovative technologies of online sales is a fantastic invention!
  • Gyujin Chae on 20 Jan 12
     
    This is an interesting article, and it is quite amazing to see how the way of payment is drastically shifting with new technological devices such as smartphones, card readers. Just a couple of years ago, if I wanted to buy something online, I had to start my computer then go on whatever website I bought something from which took some time. Now, however, I don't even have to turn on my computer to purchase something on the web because I can buy many things through my smartphone whenever and wherever I want. It is a lot easier and faster than what it used to be.
  • Yekaterina Ponomareva on 07 Sep 12
     
    Spasibo bolshoe za interesting article! Ona mne ochen pomozhet v moem research!
Sherine Mattison

Investing in Technology for Competitive Advantage / Arthur Andersen / Fall 1996 - 1 views

www.hotel-online.com/...Investing_in_Technology.html

shared by Sherine Mattison on 22 Jul 12 - No Cached
  • Today's hospitality industry technology represents a legacy reflecting the computer industry's capabilities during the last two decades and the willingness of hotel executives to embrace its products
  • critics have been increasingly harsh with their comments on the computer systems and software applications used by the hospitality industry. Typically custom-designed for proprietary application, these systems have not always been successfully integrated
  • The question for many hotel organizations remains how to achieve the ultimate open system that can be shared at all levels, whether it is the central reservation system, individual property management system or any other operational area
  • ...3 more annotations...
  • Timing is everything in technology investments
  • Network computing has enormous implications for marketing to customers on a global basis, as well as hotel operations. Consider the potential for the industry to connect with vendors worldwide for electronic purchasing, potentially achieving economies of scale and leveraging not yet possible. World purchasing functions will allow companies to customize their own catalogs. Virtual channels of distribution using computer networking capabilities will also allow hotel companies to market products and services - some traditional to our industry, others not - to customers whether they are in the hotel, at work, or at home. This will require a migration from today's central reservation systems to tomorrow's customer information systems using network-centric solutions. Development of customer profiles and guest recognition will make it possible for hotel organizations to interact in entirely new ways with customers, regardless of their physical location. Clearly, the large hotel companies will need to be the first to address questions raised by global networking capabilities and what this will mean in terms of technology investment. But for many hospitality companies presently struggling with the high cost of technology and the confusing state of our industry's technology affairs, this will not be an easy task. And the decisions will ultimately become further complicated by the opportunity to outsource certain functions into subscription-based networks. It is unlikely that the hospitality industry will be forced to bear the entire burden for networking infrastructure. Strategic alliances with major technology companies will be the catalysts in building this capability as they become strategic providers of networking capabilities to hospitality and other industries. And as network-centric computing comes of age and a company's proprietary information is stored in cyberspace, security will become an ever-more important issue requiring solutions. Whether it is an e-mail gateway through an internal network or customer access via the Internet, network fire walls and encryption systems will be required to mitigate the concern many will have with system security.
  • Network computing has enormous implications for marketing to customers on a global basis, as well as hotel operations. Consider the potential for the industry to connect with vendors worldwide for electronic purchasing, potentially achieving economies of scale and leveraging not yet possible. World purchasing functions will allow companies to customize their own catalogs. Virtual channels of distribution using computer networking capabilities will also allow hotel companies to market products and services - some traditional to our industry, others not - to customers whether they are in the hotel, at work, or at home. This will require a migration from today's central reservation systems to tomorrow's customer information systems using network-centric solutions. Development of customer profiles and guest recognition will make it possible for hotel organizations to interact in entirely new ways with customers, regardless of their physical location. Clearly, the large hotel companies will need to be the first to address questions raised by global networking capabilities and what this will mean in terms of technology investment. But for many hospitality companies presently struggling with the high cost of technology and the confusing state of our industry's technology affairs, this will not be an easy task. And the decisions will ultimately become further complicated by the opportunity to outsource certain functions into subscription-based networks. It is unlikely that the hospitality industry will be forced to bear the entire burden for networking infrastructure. Strategic alliances with major technology companies will be the catalysts in building this capability as they become strategic providers of networking capabilities to hospitality and other industries. And as network-centric computing comes of age and a company's proprietary information is stored in cyberspace, security will become an ever-more important issue requiring solutions. Whether it is an e-mail gateway through an internal network or customer access via the Internet, network fire walls and encryption systems will be required to mitigate the concern many will have with system security. In the final analysis, networking solutions will drive down the cost of technology investment "on-property" where hotel real estate and business interests merge. The solutions that hotel organizations will be able to choose from in terms of networking should also be less expensive than the current profile of technology spending. And we can expect that change to occur sooner rather than later, given the present rate of investment in Internet-based technologies.
  • sultan alharbi on 22 Jul 12
     
    "Investing in Technology for Competitive Advantage - The Challenge Facing the Hospitality Industry" sheds light on how the necessity of the investment in technology is in the hospitality industry. Not investing in technology affects even the customer services. It is mentioned that there are at least 85 property management systems available offered to owners and managers of hotels by technology providers which tend to meet the real needs of those. Further, open system that could be widely used is needed to acquire by hotel organizations. The more creative hospitality organizations are, the more successful would be in future. It is also indicated the technology cycles. Simply, technology would be increasingly required in future because of that the investment in technology would give a lot of opportunities to different parts in this industry.
  • Rixon campbell on 17 Sep 12
     
    Investing in the hospitality industry as it relates to information technology is one of the ways the industry will stay current and be able to compete in this fast pace environment. More and more guest are demanding exceptional, cutting edge customer service. As this investment occurs there needs to be integration of hardware and software for the future. These choices are not easy and is perhaps one of the greatest challenges that the industry faces. Timing and knowledge is critical to investing in technology because innovation is moving so fast, therefore knowing what new development to purchase and the ability to integrate existing systems into new one is important. In conclusion, it is paramount for investors to be mindful of the market place and to get as much inputs into the decision that is made for maximum results.
Caroline Hardenbergh

Travel Tips - U.S. BBB - 1 views

www.bbb.org/...consumer-tips-travel

hotel technology hospitality tech travel solution mobile scams contract wary tickets ripoffs safe rules budget business

shared by Caroline Hardenbergh on 14 Jun 12 - No Cached
  • Caroline Hardenbergh on 14 Jun 12
     
    Not only does the Better Business Bureau verify legitimate businesses, but this link provides travel tips which are highlighting possible scams and ripoffs that are occurring related to tourism. It is important for travelers to be hyper-vigilant when making purchases not part of everyday lifestyle, such as taking vacations to foreign & unfamiliar places, which makes opportunities for fraud. Local scams are also discussed such as the risk for ripoffs when buying sports or concert tickets as well as counterfeit team items. Fake lodging and cruise scams are also highlighted, all issues which serve to bring awareness that validation prior to purchases of travel arrangements or leisure offers is a critical step to take before making any commitments, or confirming payment. The BBB recommends: 1) Always check the business first through validation with BBB. 2) Pay with a credit card which can be stopped or possibly recovered according to your provider. 3) Ensure you purchase is actually being used for what you intended by ensuring payment is received by cruise line, hotel, or airline being promoted. 4) Get proper confirmation of your booking. (Nuff said), 5) Don't be afraid to ask lots of questions BEFORE MAKING A PURCHASE! If questions are not welcomed, then don't give them your money! 6) Consider investing in travel insurance - a few dollars goes a long way when problems occur. Plan travel insurance into your vacation budget as a necessary purchase. "For more consumer tips you can trust, visit www.bbb.org/us/bbb-news. "
Gerardo Collado

Nordstrom Sees Sales Boost From Mobile POS Devices - Forbes - 0 views

www.forbes.com/...oduction-of-mobile-pos-devices

shared by Gerardo Collado on 20 Jun 12 - No Cached
  • Now, Nordstrom, the Seattle-based fashion and beauty retailer offering apparel, shoes, makeup and other beauty products, is rolling out mobile point-of-sale (POS) devices throughout their full-line stores, as well as in some of their Nordstrom Rack stores. These mobile POS devices, which is a modified iPod Touch with a merchandise scanner and credit card slider, allow employees to check out customers from anywhere in the store. The app on the device also provides Nordstrom’s sales staff access to the company’s entire inventory, which is useful when helping customers check if an alternative size or color is available elsewhere, without needing a register to look up that information.
  • At the flagship Nordstrom store in downtown Seattle, most sales associates in these departments can be found armed with a mobile point-of-sale device and using them to checkout customers paying with plastic. When a Nordstrom customer checks out with a mobile POS, they can sign for their purchase and enter an email address for a paperless receipt. For most Nordstrom customers, checking out with a mobile POS is an incredibly intuitive and almost shockingly simple experience.
  • Johnson explains that the goal of using the mobile POS for Nordstrom is really to “take care of customer anywhere in the store. We don’t have to take you to the cash register, and instead, can do that right there with you on dressing room or when you’re trying on shoes – and then you’re on your way.” He adds, “that kind of ability to increase speed and convenience is increasingly important.”
  • ...1 more annotation...
  • According to the company’s 2012 March Sales Report, “Preliminary quarter-to-date total retail sales of $1.73 billion increased 15.3 percent compared with total retail sales of $1.50 billion for the same period in fiscal 2011.” Additionally, according to the 2011 Nordstrom Annual Report, “both the average selling price and the number of items sold increased in 2011 compared with 2010.”
  • Gerardo Collado on 20 Jun 12
     
    The fashion merchandise retailer store, Nordstrom, has joined the venture of equipping employees with mobile POS devices in order to increase customer satisfaction, in a focus toward convenient efficient checkout. The fundamental incentive is to minimize the customer's inclination to over analyze their potential purchase by waiting in the line for a lengthy period, thus, maintaining the impose of the customers to purchase the item. The mobile POS devices are equipped with a scanner and credit card slider in order to complete the transaction for the customer, the same type of technology is visible in Apple and Home Depot stores. According to the company's sale report, a visible increase in sales has occurred for the Nordstrom Company, an estimated 15.3 percent from $1.5 Billion to $1.73 Billion in the same fiscal year of 2011. As well, the creation of a Nordstrom app allows salespersons to check inventory and availability, in a further aim to increase customer satisfaction and their business. Without a doubt POS system are branching into different spectrum of business in order to increase efficiency and customer satisfaction.
Irina Stepanenko

IATA Offers Views of GDS, Agents and Distribution - 0 views

www.travelagentcentral.com/...-agents-and-distribution-33825

GDS

shared by Irina Stepanenko on 21 Sep 12 - No Cached
  • “Technology with origins dating back to the 1960s, such as that imposed upon travel agencies by the GDS middlemen, simply cannot support the nature of the data required to provide accurate, dynamic price quotes consistent with the way consumers are buying travel today,"
  • But at least 50 percent of the world’s flights continue to be sold through travel agencies, which rely on global distribution systems (GDSs) to display and compare airline products. And the areas of comparison are limited to some very basic metrics such as price, time, and routing—just as they were four decades ago.
  • "Although GDSs have made an invaluable contribution to the industry and made global distribution possible, a GDS screen today looks much like a screen from the 1970s. They are unable to handle the rapidly increasing range of product offerings from airlines."
  • ...3 more annotations...
  • There is a real challenge in getting these new products and services to the customers in the way they now want to purchase them while legacy carriers are still using the old structures and networks they relied on in the past.”
  • “Airlines are becoming increasingly sophisticated in the types of product they are offering and consumers are becoming increasingly sophisticated in their purchase decisions. The frustration is that these trends are being stymied by the outdated systems of the GDSs.”
  • It is important that US legislators and federal regulators recognize that as monopoly suppliers, GDSs have no incentive to innovate in order to allow passengers to purchase the airline services that meet their particular needs,
  • Ashley Reed on 21 Sep 12
     
    The limits of GDS's are discussed in this article, as well as the lack of initiative of the big 4 GDS's to adopt and develop newer and more updated systems because of their prevalence in travel. According to the article, the face of the GDS systems look nearly the same as they did in the 1970s, and the airlines systems are not up-to-date enough to meet consumer demands. The author points to consumer trends in the demand for personalization, package variety, and simply the desire for more packages.
  • Irina Stepanenko on 01 Feb 13
     
    Global Distribution System is an outdated technology, that cannot be consistent with the ways travel is purchased nowadays, according to International Air Transport Association (IATA). Airlines are constantly adding service or 'bunbundling' their products. The ability to buy priority boarding or seating options, meals and baggages cannot be reflected through the GDS, thus the only way to purchase them is through the airline website. This is harmful to both airlines and customers. Even though, GDS has played an important role, it is time to start developing a new product that will 'present full product or data offerings via a new interface'. IATA is being involved into creating the necessary standards before starting to work on a new platform. GDS-managed technology is slowing the process down. However, there may be some legal issues involved in exchanging the system, which has to be resolved before the launch of a new technology.
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