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vanessavioli

Choosing the right IT and cloud services provider post-Covid: A guide - Cloud Computing... - 1 views

cloudcomputing-news.net/...es-provider-post-covid-a-guide

shared by vanessavioli on 23 May 21 - No Cached
  • Now, as most economic indicators begin to trend positive, companies are once again ramping up their IT projects. Long term solutions are necessary at the scale required for sustained operations and cost effectiveness.
  • In this article, we look at three options – IT consulting firms, IT outsourcing companies, and cloud systems integrators
  • There’s also the reality that many of the larger consultancies really aren’t positioned to efficiently or cost effectively help organisations implement necessary IT strategies. Their areas of expertise lie in assurance services, taxation, management consulting, advisory, actuarial, corporate finance and legal services, to name a few.
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  • They may have the staff to take on something like a cloud migration or cloud-native application development project. But technology implementation is not a strategic part of their business, so they aren’t necessarily eager to take on these types of projects — particularly if they aren’t of a scale that would allow them to make a sizable profit.
  • They have to rely on proven, repeatable methodology to remain efficient — even if it’s at the expense of better project outcomes for their customers.
  • Companies that specialise in IT outsourcing aren’t faring much better than the big consultancies. While they may be more cost effective than a large professional services provider or consultancy, many potential clients are becoming hesitant about working with them.
  • That’s not to say there still isn’t a place for the large technology consulting firms or IT outsourcing companies. But for companies that want the flexibility, scalability and cost benefits that cloud services provide, working with a company specialising in cloud technologies – as a true, long-time strategic business partner, rather than just a point-in-time technical resource – may be the optimal solution.
  • A viable option may be to go with a mid-sized company that specialises in technology implementation — particularly in the areas of cloud migration and cloud-native app development.
  • Cloud systems integrators are able to be more innovative than larger companies that have no wiggle room for experimentation or exploring new methodologies.
  • These companies develop solutions that can meet current requirements and adapt as those new requirements emerge. For many, their work for a customer is just the beginning of a much longer partnership that will evolve to help that customer continually leverage cloud technologies to meet changing needs.
  • However, many of the cloud-centric companies have chosen to focus their efforts on specific platforms, such as Amazon Web Services (AWS) or Microsoft, enabling them to gain familiarity with and expertise in the many tools and services those particular platforms offer. They can effectively leverage those resources to help their customers implement targeted, effective solutions.
  • Like the large technology consulting and professional services companies, the IT outsourcing companies also tend to rely on standard processes that can be repeated over and over to keep costs down. There’s no room for innovation.
  • Pandemic or not, hiring a big-name IT consulting firm often comes with an equally big price tag. Forgoing work with these higher-priced companies or simply cancelling projects reduces expenditures.
    • vanessavioli
      vanessavioli on 25 May 21
       
      Cost is something that is a very serious part of any technological consideration by management. Will that investment be worth it in the long run and pay for itself. Smaller businesses cannot afford a misstep.
  • Few, if any, industries escaped the effects of the Covid-19 pandemic. Even in the technology sector, where change is a normal part of business, many professional services and technology consulting firms struggled to cope with the disruption.
    • vanessavioli
      vanessavioli on 25 May 21
       
      COVID-19 was/is the ultimate disruptor. It affected every single industry, but affected the hospitality industry in the most profound ways.
  • Yet another potential downside: larger firms tend to be less agile than their smaller counterparts. While they sell innovation to their customers, they are often too big and cumbersome to embrace the new ways of working and thinking that they promote on the consulting side.
    • vanessavioli
      vanessavioli on 25 May 21
       
      It is interesting that it actually takes larger businesses to adapt to new technology, however once again it must come down to cost. Revamping a large company technologically is extremely costly and a very long complicated project.
  • jspie001 on 23 May 21
     
    This article provides insight on three various types of IT providers and there methodologies. It definitely emphasizes the benefits of specialized companies that focus on cloud computing as their IT service and business model and their ability to b=continually adapt to the changing environment and their desire to create long term relationships. It also talks about how larger IT companies are more focused on strategy rather than implementation of systems. It also talks about how the larger IT companies are much more focused on their own profit than providing services to the client and how cheaper off shore IT companies basically provide the same services at a lesser quality
balle028

Why integrated POS Systems are a must | TechRadar - 1 views

www.techradar.com/...s-are-a-must-for-your-business

POS CRM

shared by balle028 on 29 May 21 - No Cached
  • Beyond improving the checkout process, an integrated POS system can give you valuable insights into the behavior and purchase patterns of your customers. You can leverage such data on the shop or café floor, but it can also be shared with internal UX analysts, brand marketers, and pricing teams to help inform marketing campaigns and increase profitability. 
    • balle028
      balle028 on 29 May 21
       
      POS systems are becoming a lot more engaging. which would help make a lot more profits for companies based on data acquired.
  • Integrated merchant services including integrated credit card processing eliminates the need for manual entry during checkout. This not only saves time but also reduces the probability of human errors. What’s more, integrated card processing makes your end-of-day reconciliation much easier. 
  • One of the biggest benefits of integrated POS systems is that they facilitate exceptional customer experiences that boost loyalty. By integrating your CRM and/or marketing automation software with your POS system, you can get access to valuable insights into the preferences and behavior of your customers.For example, you could keep track of the products they buy most often or the ones they’ve added to their wishlist and send them personalized product recommendations. In a retail setting, your staff can use such information to make relevant suggestions suited to their interests. You can also leverage the data you have to create loyalty programs and targeted marketing campaigns. Personalized offers, recommendations, reminders and rewards can go a long way in encouraging your customers to make repeat purchases, boosting loyalty and retention. Besides all of this, an integrated POS system also helps you keep track of your best-selling products so you can manage your inventory efficiently. This can prevent your customers’ favorite items from going out of stock and keep them happ
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  • Personalized, data-driven offers can greatly increase the likelihood of your customers responding to them. The financial cost of a customer being fond of your business versus favouring it is huge. Think about it, do your customers have an affinity for your business or have they fully bought into it as Apple loyalists have bought into the Apple brand?Overtime, personalized marketing equates to you building an individual brand relationship with each customer. This has a long-term effect on boosting sales and offer conv
  • But before you rush out to choose a new POS system with integration, be sure to check it integrates with your existing systems first. Usually, their website should reveal such information. For example, Zettle lists all of its POS and e-commerce integrations on its website. 
  • balle028 on 29 May 21
     
    this article goes in-depth the benefits of using POS systems.. POS systems are being used a lot more than ever before. it is a great and effective tool to follow up on customer engagement and understand more about sale information and profit projections, all while providing excellent customer service
sigomezsh

Creating an Irresistible Mobile Travel Experience with Proximity Marketing - 1 views

www.mocaplatform.com/...experience-proximity-marketing

Proximity Marketing Hospitality Travel

shared by sigomezsh on 08 Jun 21 - No Cached
  • Online travel agencies can harness proximity technology to enable travelers to book hotels, rental vehicles, tickets for trains, airlines, buses and theaters; and even dinner reservations.
  • In 2016, 51.8% of travelers booking trips online will do so via mobile devices
  • By 2019, mobile sales could represent 46 percent of digital travel sales
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  • Upon a tourist's entry into a particular zone or establishment, such as a hotel that the tourist has already booked, the OTA is able to send announcements and offers regarding restaurants, events and other attractions in the vicinity.
  • Online travel agencies can collect information such as the traveler’s age, marital status and number of children (if any), most visited places, preferences and travel behaviors to target travel services and deals.
  • n particular zone of a city, village or other tourist destination, a geofencing can be used to drive awareness and enable visitors to book local restaurants or hotels; buy tickets for attractions, museums, concerts or other events; or shop retail malls and outlets.
  • A beacon is a Bluetooth Low Energy (BLE) device that transmit signals normally up to 50 meters.
  • An OTA might use beacons to advertise deals on tickets. Guests in a hotel or resort can receive personalized offers, such as discounts with affiliated restaurants, nightclubs, retail stores and museums, through their mobile devices.
  • Proximity marketing affords flexibility and convenience for planning vacations or trips.
  • Now, travelers can explore on the go once they arrive and choices and arrangements can be made at the destination.
  • By using online data, mobile app data and location information, OTAs can provide personalized recommendations to consumers for booking additional services, enhance customer relationships with a sustainable brand loyalty and enhanced customer lifetime value (CLV).
  • esant151 on 08 Jun 21
     
    In article it will display several examples of how the consumers are leaning towards online purchases and the popularity behind why people are catering to these functions.
dbonn009

Why Personalization Is the Future of Hotel E-Commerce – Skift - 2 views

skift.com/...the-future-of-hotel-e-commerce

shared by dbonn009 on 08 Sep 18 - No Cached
  • he hotel industry has an opportunity to transform the direct booking process using website personalization. Doing so can help deliver a more efficient and customized booking experience, resulting in better conversion ratios and the opportunity to further cultivate relationships with guests.
  • Personalization in the hotel industry has ceased to be a trend. Today, it’s an obligation.
  • Back in 2015, American Express Travel reported that 83 percent of millennials would allow brands to track their habits in exchange for a more customized experience
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  • And earlier this year,
  • Deloitte Consulting published the white paper
  • noted that “–truly knowing your guests –what they have told you, what they request, what you have learned, and what should be implied –should yield larger results.”
  • using new technology-driven tools to help them streamline the booking process and create a more seamless guest experience.
  • When potential guests are shopping on a hotel’s website, there’s a clear opportunity before a booking is made for properties to demonstrate the acute attention they’ve paid to individual guests’ preferences. This is accomplished by using website personalization technology, allowing hotels to automatically and intuitively suggest particular room categories, package types, and even rates tailored to each user’s expectations.
  • he results of these improved personalization efforts are numerous, including higher booking probability, increased user satisfaction, and a greater likelihood of repeat visits to the website, leading to better brand loyalty. Taking these steps can even offer hotels a further tool to take more control of their distribution decisions, rebalancing their e-commerce strategies between direct and non-direct channels.
  • Building Loyalty is an Investment
  • over-relying on OTAs for cash customers hurts profitability.
  • Today’s personalization technology can also help hotels to optimize the conversion rates for direct bookings.
  • If this analysis shows that more users are bouncing from the site instead of booking, it may be time to consider new tools.
  • “When users leave a hotel’s website, they’re likely to have forgotten the details after visiting multiple other hotel-related sites,” he noted. As Upneja believes, personalization tools are one method to prevent this. “Appeal to them on the spot with personalized offerings like the right price, the right room category and the right amenities before they can move on.”
  • Personalization tech is increasingly an essential tool to rethink online bookings. But in order for it to succeed, there needs to be alignment between the personalization of the booking experience and the hotel’s curation of more traditional on-site amenities like service and design.
  • That site is available on both desktop and mobile, and in English and Spanish, the primary languages spoken by the hotel’s two main markets.
  • Using IP addresses also enables the Viceroy Los Cabos to personalize resort packages to users in locales suffering from bad weather.
  • “Ideally we want to sense that behavior and adapt the site for them, showing them customer reviews, social media posts, food and beverage photography – things that we know will be a strong call to action for the customer to continue through to making that reservation.”
  • Today’s hotelier recognizes the value that personalization has on the guest experience. The more guests feel that every aspect of their experience was tailored exactly for them, the greater the likelihood that they will spend more on property and return again and again.But in today’s competitive market, truly savvy hotel executives realize that it is no longer enough to only customize during the guest stay. Personalization needs to extend to the booking process, where the right tools give hotels the means to increase conversions, build better loyalty and customize content in order to deliver more direct bookings.
  • miamigol on 08 Sep 18
     
    On my previous article about Oraculo, the world's first predictive algorithm for hotels, I described how personalization in hospitality is no longer a trend but an obligation. By posting this new article I wanted to dig a little deeper into tailoring guests needs through e-commerce. In 2015, American Express Travel reported that 83% of millennials would not object to have their habits tracked if they get a more customized experience. This strong message has prompted the hotel industry to develop and implement website personalization technology that suggests, intuitively, specific room categories or packages to online lookers. Since building loyalty is an investment, improving the direct booking ratio is now the main goal of the industry. From experience, when I travel I try to stay at the same hotel and book directly from the hotel website. The most important thing to me when I shop around is furniture and bathroom. Although these are not generally specified in detail in room descriptions, the brand I'm loyal to is usually very consistent with my needs. If new technology would give me a more personalized stay somewhere else I would definitely change my membership. I have friends who don't travel much except for vacation and long weekends. They are lookers who go to online travel agencies (OTA's) and bounce from site to site trying to find the perfect place. The article explains this newer technology will be crucial to prevent lookers from bouncing to other websites, and encourage them to book directly from the hotel and avoid OTA's. The idea is to make it so personalized that it will be appealing on the spot. These new technologies not only can tailor room types and resort packages based on IP addresses, but it can customize your TV programming based on your web history. Personalizing the guest experience during the stay is no longer enough. Data shows that in order to build loyalty and make the customer return, personalization has to begin in the booking pr
  • kayshap96 on 16 Sep 18
     
    This article describes how personalization of eCommerce can bring better profits, because it is helping guests personalize how they would like their stay. This is more efficient for the guests because it is ensure they get what they want, like if they want to be around certain theme parks, or if they want their rooms a certain way. They even have options where you can fit guests language barriers, like if they speak only spanish they can change the language so spanish speakers can also ensure they have their preferred stay.
  • dbonn009 on 28 Jan 19
     
    This article explains the importance of website personalization. Here, vital information is stored for current and future use of consumers. It is important for industry professionals to have access to this information but protect it from reaching outside entities.
demax85

Sales & Catering CRM for Hotels: Everything You Need to Know - 0 views

www.socialtables.com/...sales-and-catering-crm-hotels

shared by demax85 on 16 Oct 19 - No Cached
  • demax85 on 16 Oct 19
     
    A good CRM for your hotel is essential in keeping everyone on the same page. Event management companies use CRM systems to keep up with clientele data. It is used in the hotel to prevent double booking and provides a daily report on performance. To keep clients satisfied a good system to keep the relationship between the establishment and customer is needed to track data and deliver desirable service.
angelicamm6

A model that connects information technology and hotel performance - ScienceDirect - 0 views

www.sciencedirect.com/...S026151771530011X

tech information information technology

shared by angelicamm6 on 24 Oct 19 - No Cached
  • Fig. 1. Global proposals about IT impact on organizational performance.
  • Fig. 2. Operational productivity through IT.
  • Fig. 3. Employee productivity through IT.
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  • behavior refers to employees taking actions to address clients' needs; and expertise relates to the knowledge of employees about the service.
  • IT applications help hotels to deliver services faster (Chathoth, 2007). Tangible relates to the physical evidence of the service; which, in the case of IT, can be impacted by updated technologies
  • Fig. 4. Customer service through IT.
  • “Companies and organizations in virtually every industry employ customer-satisfaction measures for the straightforward reason that satisfied customers are essential for a successful business”
  • Fig. 5. Commercialization through IT.
  • A total of 30 interviews were carried out and all were tape-recorded with the permission of the respondents.
  • All the global paths (Fig. 1) were confirmed by the interviewees and no new ones were found, since all the mentioned options regarding the use of IT fitted adequately into the constructs.
  • What was found were other options inside one of the global paths (commercialization) and some new relationships between the constructs, as will be explained at the end of this section.
  • The front office managers and hotel directors agreed that the routine task automation that IT generated was an opportunity to focus on client interaction. Contact employees could dedicate more time to understanding clients' needs, to explaining hotel facilities and services, and to recognizing loyal clients.
  • As hotels commercialize their offers in a larger number of channels, greater flexibility is demanded from IT to allow for new options to be created.
  • Fig. 6. Detailed proposal about IT impact on organizational performance in hotels.
  • Hotel managers should not directly rely upon the type of IT (e.g., online check-in, smart TV, presence sensors); instead, they should analyze the extent to which a specific IT product or service (with all its configurations, and possibilities) is capable of improving the operational productivity, personnel productivity, customer service, and income generation paths.
  • If a hotel competes on price or emphasizes a cost control approach, the operational and employee productivity paths will be more important than customer service. Alternatively, hotels that try to stand out in terms of service quality will assign more importance to the customer service route and to some of the factors of the commercialization path (e.g., client satisfaction measures and client behavior knowledge).
  • This research presents some limitations.
  • angelicamm6 on 24 Oct 19
     
    The article give information regarding four global paths through which IT can impact hotel performance. The conducted research by doing a survey on 30 managers of hotels around different areas. The research was extensive and brought information that will be useful for IT and hotels in the future.
anonymous

5 Reasons Why Event Management is Important in Tourism - 2 views

www.gevme.com/...gement-is-important-in-tourism

shared by anonymous on 25 Feb 18 - No Cached
  • Events act as important motivators for tourism.
  • If you look at the destinations that gained popularity in recent times, you’ll find out that the flow of tourists to this place began after the successful event management.
  • This is the major reason why the role of event management in tourism is so important. Tourists and travelers need to understand why they should visit a particular destination. Therefore, event tourism comes to the rescue.
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  • These plans should focus on the planning of social events in order to achieve the full potential of tourism. Managing events is the activity that deals with developing and planning various kinds of events for that society. A fruitful integration of event management into touristic activities will win success and attract numerous customers to the target destination.
  • The development of tourism and the introduction of new destinations reveals the huge perspectives for the growth of event management. The majority of most social activities, such as festivals, recreational events, etc., have become possible due to the tourists, which travel around the world in search for new impressions and emotions.
  • Tourism event management promotes the loyalty of regular customers.
  • The term “event management” can puzzle some people who have never thought about its meaning and role in modern society. I
  • The key tourism goal for events is to attract more tourists (especially in off-peak seasons) to serve as a catalyst for urban renewal and to increase the infrastructure and tourism capacity of the destination to foster a positive destination image, which contributes to general place marketing to animate specific attractions or areas.
  • Nowadays, events can mitigate or aggravate political situations, which is another lure for tourists.
  • he best example for this is the impact of major sporting events, such as the Olympic Games or Worl
  • When certain parts of society reached a certain economic peak, they shifted to a more thoughtful way of life that included alternative energies, wise ecology, and environmental protection. This also made way for the birth of completely new consumer needs, which increased the demand for a specific range of events and tourism.
  • Management of events provides various opportunities for the travelers to spend their time without being bored. If you plan your visit to some exotic country, it doesn’t mean that your vacation will be limited with rambling across the sights and historical monuments of the destination. You can diversify your trip with extreme events or any social activities.Thanks in part to event management, you will surely experience a wide array of emotions and experience many new things.
    • ngerv001
      ngerv001 on 29 Aug 19
       
      Wherever and whenever one is planning a trip to a location they want to have fun and live in the moment. From cruises that have excursions and on boat activities, to hotels that offer cocktail hours for incoming groups to live performances, having a way to keep guests entertained are crucial and vital to keeping a guests happy. It is important for the hospitality industry have different outlets to provide a memorable experience for their guests that will lead to positive reviews, word of mouth recommendations to repeat business, event managements are important. As event managers it is key to always be looking for ways to keep guests entertained, relaxed and overall having a great time.
  • Events in tourism development produce an incredible impact on the industry as a whole and influence a broad range of human activities: politics, environment, socio-cultural, and other aspects.
  • Although event management and tourism are different notions, it should be mentioned that they are closely aligned with each other. Actually, regardless of the type of tourism you choose, event management will accompany it within the entire period of activity.
  • The key tourism goal for events is to attract more tourists (especially in off-peak seasons) to serve as a catalyst for urban renewal and to increase the infrastructure and tourism capacity of the destination to foster a positive destination image, which contributes to general place marketing to animate specific attractions or areas.
  • You cannot possibly underestimate the importance of events for tourism. The most popular types of tourism events, regardless of the tourism type, come in a wide range of exciting options. Various types of festivals and events have always existed as significant parts of human society.
  • Tourism and event management are said to have evolved from primitive gatherings of people for agricultural or religious reasons into the more modern type of events—large-scale, corporate and governmental—as well as their long history of attracting tourists and establishing host communities as tourist destinations.
  • The emergence of new political powers, capitalism, new products, and new social relations, as well as a new way of modern life, paved the way for more versatile event tourism development and a growing number of cutting-edge events.
  • Today, it is not surprising that apart from the above-mentioned impacts, events also have the power to affect the formation of a destination’s image and can help with promoting, positioning, and branding it across the globe.
  • amberarias on 25 Feb 18
     
    This article greatly described the importance and significance event management has for the tourism industry. Special events definitely draws individuals in to multiple destinations, which delivers a huge boost for the tourism industry.
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  • berkley7 on 19 Jul 18
     
    The following article, 5 Reasons Why Event Management is Important in Tourism, focuses on event management within the hospitality industry. The role of an event manager within the hospitality industry is a very complex job and it takes someone with a vision and skills in order for a successful outcome. Event management is important within the hospitality industry because tourism is truly dependent on the effective management of events. The article provies the following example, Niagara Falls is now a known destination and is a prominent place to visit, however, the main "flow" of tourist started as soon as the event managers had begun to arrange tours, cruises, etc. Event management is vital within the industry and this article highlights some of the important impacts it has on the industry as a whole. "Naturally, tourism and event management can exist separately, but their consolidation can bring many benefits not only for the development of tourism but also for the development of the economy of countries or cities in total."
  • anonymous on 23 Jun 19
     
    The article highlights why event planning is an important element of tourism. It discusses key social, political, and cultural events that span both tourism and event planning. It strives to establish a clear connection between the benefits of tourism and social events implemented from a streamlined perspective.
  • alexaperez14 on 08 Oct 19
     
    This article talks about how different types of events are important for tourism. Events such as mega, hallmark, major and local events attract more tourists such as the olympic games or the Superbowl. Some destinations are visited only for special events, driving more tourism to that destination. As tourism has become very dependent on effective event management, small events such as arranging tours in a destination have led to an increase in tourism. The development of tourism and the introduction of new destinations reveals the huge perspectives for the growth of event management. The majority of most social activities, such as festivals, and other recreational events have become possible due to the successful event management and the travelers that they attract.
  • anonymous on 14 Oct 19
     
    Event Management can be both local and global, it is the management of various activities including conventions, meeting and other major activities. Tourism is not considered a part of event management; it is classified as a set of tourism related activities. Tourism is thus divided into various niche activities. No matter what tourism type you choose, event management will always be a part of the activity. There are various types of classifications. Events may be condsidered Mega, Hallmark, Major or local. It is necessary to recognize the importance of events to the tourism product, and as such, you should never take for granted the need for proper and effective coordination. It is also important to note that events such as cultural activities also aid in destination development. A key factor in having these events is to promote the destination and attract more visitors, particularly at times in the season when things are slow. The introduction of events can serve to stimulate local economies and draw attention to unseen parts of the destination, as well as aid in the building of infrastructure in those communities. It is also important to note any event requires significant planning, the who, what, where and how allows a better understanding of how a proposed event may impact a destination's image and can help with building a stronger global brand. The significance of tourism in event management is centered around possible offshoot activities such as tours and entertainment or any other economic benefits that maybe be derived beyond the event itself. By creating such signature activities, it is likely that you broker relationships with visitors, which could likely create loyalty to your brand.
aguar024

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

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

security event technology hotel software solution tech business hospitality mobile

shared by aguar024 on 11 Nov 19 - No Cached
  • ways to engage attendees differently and encourage innovation and creativity
  • A great way to start is by changing up the facilitation or presentation style
  • some unexpected venues
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  • Private lofts and businesses are starting to rent areas that would previously have been off-limits, which makes attendees feel like they’re getting exclusive access.
  • he popularity of eSports events is influencing event connections.
  • Create policies outlining inappropriate behavior,
  • se of voice and facial recognition will increase and will improve overall experience and engagement.
  • dding areas or just time where attendees can unplug from the event and allow them to process what is happening and reconnect, allows them to come back energized and engaged.
  • Many companies’ risk management plans cover terrorism and communicable illness, but more than ever, tech security and sexual harassment policies need to be included as well
  • 61% say they go to live events and tournaments to connect with friends they’ve met and play with online, and 41% said they attend to forge new relationships.
  • hannels to report issues, and protocol for staff on how to deal with allegations.
  • With the increase in vegan and healthier diets, there is an influx in looking for new ways of clean eating.
  • increase their sustainable operations.
  • aguar024 on 11 Nov 19
     
    In this article the writer mentions different trends and solutions to common situations on the event industry. From sustainability all the way to methodologies to avoid sexual harassment.
angelicamm6

https://www.tandfonline.com/doi/pdf/10.1300/J150v09n03_11?needAccess=true - 0 views

www.tandfonline.com/...J150v09n03_11

technology hospitality hotel software

shared by angelicamm6 on 16 Nov 19 - No Cached
    • angelicamm6
      angelicamm6 on 16 Nov 19
       
      appearing in such categories as "Top Lists," "Best of the Web," "Hot Sites," and "Cool Links" (USA Today, 1996)
    • angelicamm6
      angelicamm6 on 16 Nov 19
       
      Restaurant companies may provide incentives to repeat site visitors and offer features and services not available at a bricks and mortar site. Such unique and/or customizable (personalized) products and services are revolutionizing online connectivity.
    • angelicamm6
      angelicamm6 on 16 Nov 19
       
      Should a restaurant have an Internet presence? If so, what aspects of the business should be highlighted?
  • ...5 more annotations...
    • angelicamm6
      angelicamm6 on 16 Nov 19
       
      Based on an extensive search, there appear to be three Ms of web site design that help summarize many important factors
    • angelicamm6
      angelicamm6 on 16 Nov 19
       
      Ease in Locating Ease in Navigation Information Content Customizable Content Three Click Rule Twenty-two Inch Rule Site Mapping Communication Capability
    • angelicamm6
      angelicamm6 on 16 Nov 19
       
      GENERAL DESIGN GUIDELINES Home Page Domain Name Graphic Highlights Color/Texture Web Pages Finishing Touches
    • angelicamm6
      angelicamm6 on 16 Nov 19
       
      Industry Association Web Address
    • angelicamm6
      angelicamm6 on 16 Nov 19
       
      . As the industry seeks to solidify one-to-one customer relationships, through invigorated brand loyalty, benchmarks of website design and operation are likely to play an increasingly important role in e-marketing and strategic planning.
anonymous

Best Hotel Management Software Reviews List & Comparisons | Expert's Choices for 2019 - 0 views

hotel-management.financesonline.com

hospitality software

shared by anonymous on 02 Jun 19 - No Cached
  • Hotel management software can be utilized to perform important organizational and financial tasks
  • Hotel management software can be utilized to perform important organizational and financial tasks and activities by hotels, resorts, motels, RV parks, condos and other
  • These functions include reservations, customer relationship management, property and maintenance management, accounting, and employee scheduling.
  • ...5 more annotations...
  • Hotels look to improve their efficiency and productivity and this has led to the development of hotel management platforms. This type of software is also called Property Management System (PMS) and more comprehensive systems are termed Hotel ERP (Enterprise Resource Planning).
  • Hotel chains – If your hotel chain has multiple properties, then you need to decide whether to use a single system across all properties or to allow each one to select for themselves.
  • here are two main types of hotel management software which are Property Management System (PMS) and Hotel ERP
  • A PMS typically consists of front office software and other best of breed systems.
  • Hotel ERP is a comprehensive app from a single vendor.
  • anonymous on 02 Jun 19
     
    This article is focuses on the different software options the hospitality industry has this year. It covers the overall definition of what is a Hotel Management Software, the type as well as examples and which software are currently in the top popularly used.
torte003

The Most Important Online Distribution Channels for Hotels - 0 views

www.revfine.com/e-distribution-channels-hotels

shared by torte003 on 14 Sep 20 - No Cached
    • torte003
      torte003 on 14 Sep 20
       
      One of the most important online distribution channels is your own hotel website. Its the most cost effective and an effective marketing tool.
  • The Most Important Online Distribution Channels for Hotels
  • your own website and t
  • ...4 more annotations...
  • most cost-effective marketing tools your business
  • d by 42 percent between 2013 and 2015. It is, therefore, essential that hotel websites are mobile optimised.
  • TAs include Booking.com, Expedia, Orbitz.com, Hotels.com and Priceline.com and although this is usually the most costly distribution channel for hotels, there are numerous benefits.
  • This particular distribution channel remains important for hotels and can allow you to foster positive relationships with travel agents, resulting in greater commercial demand for your hotel rooms.
nbakir

Is 2020 the Year of the GDS? | By Scott Falconer - Hospitality Net - 2 views

www.hospitalitynet.org/...4096868.html

shared by nbakir on 25 Apr 20 - No Cached
  • Technology can play a major role in helping properties win more bookings, through advertisements, display, and keywords
  • It will be interesting to see how GDS usage and other distribution channels continue to evolve throughout 2020.
  • The overall contribution of GDS bookings indicates that it is still a very relevant and growing channel and often delivers the highest ADR.
  • ...8 more annotations...
  • However, certain keywords can and do drive them to book a property, such as "price", "offer", "rate" and "discount". Globally, 4 out of 10 survey respondents agree these types of words would encourage them to book.
  • In our survey, 7 out of 10 agents say it's important to include icons with the words "free" or "complimentary" in ads. In 2020, hoteliers should review their current strategy for the GDS and consider whether they are using the platform to its full potential.
  • Rate parity (ensuring that the same room is priced identically across all distribution channels) will continue to be of utmost importance.
  • Our research shows that 9 out of 10 travel agents rank rate parity as 'very important' or 'important' in their search.
  • When the GDS does not offer full rate parity, 6 out of 10 travel agents actively book away from that hotel property.
  • Travel agents are booking hotel reservations on the GDS in record numbers, from 42 million ten years ago to 79 million in 2019. On average, they book 22X more room nights than consumers, making the GDS a prime channel for hotels looking to increase revenue.
  • the GDS does not offer full rate parity, 6 out of 10 travel agents actively book away from that hotel property.
  • ordin
  • anonymous on 25 Apr 20
     
    This article speaks on how GDS are doing in the age of 2020. Not only does it talk about how its doing over all but it also goes over how they remain successful with the new times. Keeping up with changing demands and trends.
  • shannaton on 08 Jun 20
     
    This article talks about how GDS system usage has been and continues to increase over the years. While many owners prefer direct bookings on their site. GDS has been increasing at a faster rate than other channels which are used by travel agents. Hotels need to e using the GDS platforms in 2020 and beyond to maximise the benefits that it brings.
  • nbakir on 15 Sep 20
     
    Scott Falconer's article, "Is 2020 the year of the GDS," entails discussion of the survey results of the DGS site as the most sued and rapidly growing site for booking by travel agents. Falconer also advises hotels and other travel agents to optimize the use of the GDS site to increase bookings and therefore profitability. In discussing the survey results, Falconers also suggests the GDS increase its potential by maintaining parity, observing prices, and promotions are critical in its continued growth. Falconer's finding first indicates that GDS usage has significantly grown in the past ten years. The author notes that by 2019, the number of travel agents using the site of GDS to make bookings had increased from 42 million to 79 million between 2009 and 2019 (Falconer). In the recent past, Falconer argues that the ratings and growth in usage of the site provide hotels with opportunities to grow revenue as the site makes 22 times more bookings than consumers. Through surveying with 900 travel agents, Falconer concluded that GDS is a prime channel for bookings because of its recent fast growth compared to other alternative booking sites. Secondly, Falconer notes that there is a need to stabilize the parity rates for the GDS channel to succeed. Based on the survey, most travel agents indicated that parity rates are influential to the decision to book a facility using the GDs site or others. Therefore, Falconer advises the GDS management to ensure the consistency of the price that properties offer to clients on other channels. The services listed in the sites are available as indicated at the property. In this case, the GDS can improve booking experience by clearly stating commissions, discounts, or cancellation policies at the site to increase the availability of information to the clients regarding the nature of commitment and expected services as the promised value. Falconer also highlights the importance of adver
anonymous

Must-Have Features of Accounting Software for Hospitality - 0 views

blog.trginternational.com/nting-software-for-hospitality

shared by anonymous on 27 Sep 20 - No Cached
  • Hospitality faces unique challenges and has specific requirements, making conventional accounting systems unfit for this industry.  
  • Accounting software for hospitality, specifically for hotels, needs to be powerful enough to handle the influx of data hotels generate on a daily basis, and then extract insights from these data to make strategic business decisions. 
  • 1. Dashboard and reporting  The reporting tool is essential in showcasing daily rates, occupancy levels, seasonal trends.
  • ...15 more annotations...
  • 2. Automated data integration and consolidation  Hotel chains that manage multiple business units require to see the bigger picture via one standardised, integrated report.
  • 3. Business planning  This feature allows managers to compare data through different variables (time, department, cost centre) and different scenarios, thus, enables them to plan for the future in details. 
  • 4. Collaboration tool 
  • An accounting software that allows simultaneous connection across the organisation can minimise the time and effort needed to send documents back and forth, ensure that only relevant personnel will be involved in the process, correct data/ documents are forwarded to the right managers for approval, and more importantly, guarantee reports are done on-time and complied to industry standards. 
  • 5. Reservations 
  • The accounting and reservations functions should be tightly integrated to ensure all inflow of data and money is captured whenever a booking is made, and deposits/payments are done. 
  • The customer's information stored in CRM feature and their spending recorded in the accounting software is also useful for future marketing campaigns. 
  • 7. Food cost control 
  • 8. Customer relationship management (CRM) 
  • 6. Labour scheduling  Integrating labour scheduling into accounting software allows managers to control costs and employee expenses better by ensuring minimum staffing, containing overtime hours, and scheduling the best performing staff during the busiest times/ seasons. 
  • Cloud accounting software not only offers all of the aforementioned features but also contains these four “impossible to ignore” benefits: 
  • Automation and accuracy:
  • Anywhere, anytime access:
  • Ease of use:
  • Speed and efficiency
  • anonymous on 27 Sep 20
     
    The article states that the hospitality industry has specific requirements in the area of accounting systems and that conventional accounting systems are therefore not appropriate. The author then outlines the 8 key features that a hotel accounting system must have. Finally, the author lists 4 "impossible to ignore" benefits of hosting the accounting system via cloud computing.
blevi022

This German town replicated itself in VR to keep its tourism alive - 0 views

thenextweb.com/...n-vr-to-keep-its-tourism-alive

shared by blevi022 on 15 Jun 20 - No Cached
  • Tourists may soon be able to explore the picturesque cross-timbered houses and historic churches of Herrenberg via virtual reality (VR), thanks to a digital twin developed with the High-Performance Computing Center Stuttgart (HLRS). TNW online events
  • There are now plans to develop the emerging area of virtual tourism for the town, which has a population of around 31,000.
  • “We have a very beautiful city center so tourists can explore it in a digital way with VR glasses before they come to Herrenberg, which is an interesting benefit for the future,” Reith said.
  • ...2 more annotations...
  • Dembski told Cities Today the use of digital twins by cities is “only at the beginning” but is progressing quickly, especially in Asia.
  • But there are many aspects that are deeply human and cannot be reproduced in digital copies, such as culture, interpersonal relationships, joy, and happiness. A digital twin is a tool, not a solution.”
  • blevi022 on 15 Jun 20
     
    This article discusses how the German Town of Herrenberg created a virtual version of itself that will allow to down develop virtual tourism. The reason I view this as a story about Green computer technology is virtual tourism is a very Green environmentally friendly version of tourism. It allows tourist to explore a place with much less environmental footprint. A virtual tourist can explore a town without flying or driving which reduces air pollution. I don't think virtual tourism would replace actual tourism but can allow for the creation of new tourism without the same environmental impact of actual tourism.
ealmi001

Importance of information technology in modern work places - 1Training - 0 views

www.1training.org/chnology-modern-working-places

technology Tech

shared by ealmi001 on 13 Jul 20 - No Cached
  • ealmi001 on 13 Jul 20
     
    According to the article Importance of information technology in modern work places, information technology (IT) is an integral part of every single business plan. Information technology plays a vital role in every business type including small, medium and large. Companies connect the inventory management system to their Point-of-Sale (POS) systems to gain maximum efficiency. In conclusion, IT plays a number of vital roles in organisations in improving communication, Inventory Management, decision making, data management as well as customer relationship management.
jalipman

Sun, Sand and Cyber: Does the Hospitality Industry Need to Invest in Cybersecurity Now?... - 0 views

www.infosecurity-magazine.com/...hospitality-invest-now

shared by jalipman on 19 Jul 20 - No Cached
  • To ensure businesses are in the best possible position to compete during and long after the Coronavirus pandemic is over, both customers and employees need to be educated on the security measures on offer to feel comforted in this brave new business climate. 
  • For businesses to feel empowered against today’s many challenges, a consistent approach to risk management is absolutely crucial. A CISO with the authority to carry out real change and impart strong governance across the business would be hugely valuable.
    • jalipman
      jalipman on 19 Jul 20
       
      An entity to regulate and update cyber security in order to keep all information safe would be very helpful. But it could be argued that an organization that has access to all systems could pose a larger risk to cyber security than it would negate.
  • These burdens come into sharper focus when you consider the digital environment in which hotels are operating. Individual hotels are often connected to the organization’s national or international network, meaning only one hotel has to be breached before the entire company is at risk of hemorrhaging huge volumes of its data.
    • jalipman
      jalipman on 19 Jul 20
       
      This is a good example of why every hotel needs to be constantly updating and on alert for cyber attacks because if one hotel server is compromised the entire national system is at risk.
  • ...9 more annotations...
  • Most crucially, a cybersecurity strategy must include a solid plan for Business Continuity and Disaster Recovery in order to prepare for any worst-case scenarios. In the era of COVID-19, incidents of the worst kind are fast emerging and businesses deserve a fighting chance to succeed.
  • The root of this cyber crisis lies in the way hotels are hampered by disparate legacy systems and out-of-date software where breaches are rife for the taking, particularly on hotels’ Point of Sale (POS) systems and other external vendors. Adding to this, hotels often outsource their customer IT connectivity but unfortunately forget to consistently monitor and audit suppliers’ security measures. 
  • Today, the systems used for various functions in a hotel’s back and front operations are manned by employees who are not yet well-equipped to pick up on and counter large-scale cyber-attacks until it’s too late.
    • jalipman
      jalipman on 19 Jul 20
       
      Simply put, hotels are not focusing enough on these attacks and their security systems are made primarily to identify and ongoing attack rather than preemptively stop them.
  • Mobile phones, tables and laptops connected to open networks become a hunting ground for hackers to harvest banking details through card payments. 
    • jalipman
      jalipman on 19 Jul 20
       
      Not only is personal information stored but guests use these open networks for many different things allow hackers a direct link to the guests devices as well.
  • Worth billions of pounds, the hospitality industry is a perfect victim for cyber-criminals. Its make-up of luxury resorts and hotels alongside huge volumes of high net-worth individuals has fast become prey for hacker
  • While financial services and the public sector have been forced to endure an endless stream of cybercrime, the hospitality industry has also become a prime contender for hackers in the wake of its rich data-base. 
    • jalipman
      jalipman on 19 Jul 20
       
      The constant influx of new information makes hospitality company databases prime targets for hackers.
  • No matter the size of the business, inefficient cyber support diverts crucial time from business activities and relationships with customers.
    • jalipman
      jalipman on 19 Jul 20
       
      Not allocating for proper cybersecurity not only puts you at risk but takes away from time you spend on business when you are dealing with potential or ongoing threats that would have been better addressed by a proper cyber security system.
  • With global business fighting relentlessly to survive against the chaotic threat of the Coronavirus, all industries are exposed to criminal cyber-threats, and so the security of highly sensitive data must be handled appropriately.
    • jalipman
      jalipman on 19 Jul 20
       
      In unprecedented times like we are currently going through things like cybersecurity will be put on the back burner in order to deal with issues at hand but this can create environments for cyber attacks.
  • British Airways and Marriott International are two major hospitality companies to be victims of high-profile breaches in recent memory. They serve as a stark reminder of the heavy costs faced when the safety of customers’ data is compromised. 
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.
anonymous

Why Your Organization Should Pay Attention to Marriott's New E-Commerce Partnership | PCMA - 0 views

www.pcma.org/tts-new-e-commerce-partnership

shared by anonymous on 10 Sep 20 - No Cached
  • Alibaba has more than 500 million active consumers on its platform, and the new relationship gives Marriott opportunities to re
  • ach the growing number of Chinese travelers
  • enhance our service for Chinese guests when they arrive
  • ...6 more annotations...
  • Alipay,
  • broaden our offerings of guest amenities and services appealing to Chinese travelers
  • 600,000 new Marriott Rewards loyalty members
  • world’s largest source market for outbound travel
  • more Chinese join the ranks of the middle class and choose to travel.”
  • conference attendance numbers
  • anonymous on 10 Sep 20
     
    In 2017, Marriott entered into an e-commerce partnership with Alibaba...China's number 1 recognizable name in e-commerce. By installing Alipay and broadening their guest amenities, Marriott is hoping to increase the number of Chinese travelers to their hotels all over the world. Globally, China is expected to have the largest population growth and Marriott is banking on them to travel to their hotels.
jamigovaerts

POS Systems: The Backbone of Restaurant Tech | Modern Restaurant Management | The Busin... - 0 views

modernrestaurantmanagement.com/he-backbone-of-restaurant-tech

technology hotel business Tech travel solution mobile green hospitality software

shared by jamigovaerts on 14 Sep 20 - No Cached
  • “one-stop-shop”
  • All restaurant technology starts and ends at one central point: it’s POS system.
  • a good point of sale system can be the biggest asset a restaurant has
  • ...5 more annotations...
  • Technology upgrades, such as those that protect against data theft or provide guest relationship management capabilities, can make a big difference in improving operational efficiency and guest satisfaction.
  • Modern-day point-of-sale software functions on its ability to integrate.
  • It may be impossible to predict the future of POS technology with certainty, but it’s quite transparent that the technology will continue to evolve to meet the changing demands of the market.
  • Improving the quality of food, service, and guest experience has always been and will always be the primary driver of restaurant success. To do that, every restaurant needs a POS system that won’t fail them and will provide assistance in all aspects of operations from now into the future.
  • POS Systems: The Backbone of Restaurant Tech
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