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anonymous

The Hidden Benefits of Restaurant POS Software | QSR magazine - 0 views

www.qsrmagazine.com/...nefits-restaurant-pos-software

technology pos hospitality restaurant

shared by anonymous on 02 Jun 20 - No Cached
  • The retail and restaurant industries run on many systems, but the one thing that ensures a smooth and efficient operation for them will always be the POS system they have in place.
  • modern POS systems impact a business positively in so many ways
  • the point-of-sale system makes critical aspects of the business such as sales, payments, and inventory more streamlined
  • ...13 more annotations...
  • More detailed and accurate reportsThe importance of reports to any business—or organization for that matter—can never be stressed enough. Ideally, all business decisions are based on the information contained in reports, and that’s why it’s absolutely essential that they contain nothing but detailed and accurate data.
  • Today’s POS systems make use of a Cloud-based system to store and integrate information, which can be easily accessed by businesses for data that will allow the generation of incredibly detailed sales and inventory reports, among other things
  • Enhanced labor and human resource functions
  • Even if the POS system you’re running is the most basic available, it’s likely capable of performing timekeeping tasks as well hooking up with the payroll system of the company.
  • With one or two fewer tasks to perform, your employees will have more time attending to other urgent duties, like providing top-notch customer service.
  • Personalized customer experienceWhen you’re running a POS system for your business, keep in mind that it has a customer database that contains information that can help you make the customer experience more personalized.
  • With just a few clicks, you can get your hands on a treasure trove of information that will allow you to track customer behavior, their order history, and personal details, among other things.
  • You can also have it create reward programs, which not only influence people to make buying decisions but also foster loyalty to your brand. Such programs make your customers feel that they’re important to you,
  • More secure and convenient card and mobile transactions
  • With a POS system, there is no more need for businesses to spend money on separate peripherals that will help with the processing of purchase.
  • Most important of all, credit and debit card payments processed via POS are proving to be faster, safer, and more secure.
  • There seems to be no end to the benefits that your retail store or restaurant can get from POS software. As POS systems stand today, they are practically capable of doing just about anything for your business, and automatically at that.
  • With a more modern, more dependable POS system in place, reaching your business goals will immediately become easier.
  • anonymous on 02 Jun 20
     
    Point of sale systems have helped restaurants, hotels, etc in a major way. There are several benefits to the modernized POS software. POS systems offer more detailed and accurate reports for businesses. Businesses are able to use Cloud-bases systems to store information. This information can then be used to generate detailed sales and inventory reports. They also offer a benefit when it comes to labor and human resources. POS systems help takeaway a few tasks that employees used to have to do. THis helps improve customer service. POS systems also offer a more personalized customer experience and more secure and convenient card and mobile transactions.
Dongyun Oh

10 Features To Look Out For in a Hotel PMS - 0 views

management-software.ezinemark.com/-a-hotel-pms-7d327e0a6a67.html

hotel technology software

shared by Dongyun Oh on 23 Sep 12 - No Cached
  • A quick check on 10 features that you should be looking for in a web based property management system are listed below
  • 1. Web Reservation
  • . Revenue Management:
  • ...9 more annotations...
  • Front Desk Management:
  • Back Office Work: One of the most boring yet very essential departments is the
  • back office.
  • Housekeeping:
  • Preparing Invoices and Bills:
  • Travel Agents Commission:
  • Report Making:
  • Ability to set the PMS for your hotel
  • Multi-Currency and Languages Features:
  • shuo zhang on 23 Sep 12
     
    The PMS can do many things for the hotel, like web reservation, revenue management, front desk management, back office work, housekeeping, preparing invoices and bills, making report, multi currency and language. It involved all parts of the operation of the hotel. It is very useful. 
  • Dongyun Oh on 12 Feb 13
     
    Property management systems should be chosen after a lot of deliberation and research. With many property management systems in the market, it is important that you are not cheated or you don't hastily buy something that doesn't work for you. A quick check on 10 features that you should be looking for in a web based property management system are listed below: 1. Web Reservation: One of the most important things to look for in a web based property management system is its web reservation features. Having a good hotel with great facilities is no longer enough. Letting people know about it is crucial for the success of the business. A hotel management software is the right tool for this purpose nowadays. When you are looking into a PMS, check that its web reservation system is easy to use, not time consuming and is flexible. 2. Revenue Management: Getting your finances sorted is essential so that even in the most testing times, you finances and revenue are well managed. A PMS that has a good revenue management system will see that you can control your rates efficiently and provide easy yet detailed reports of the same to any authorized person as and when required. 3. Front Desk Management: Sorting out the checking in and checking out process, facilitating the guests with whatever they need, and linking the same details with all the concerned departments are some of the things that a front desk console should be doing for you. Check that your hotel management software can efficiently take care of these. 4. Back Office Work: One of the most boring yet very essential departments is the back office. All expenses are doubled checked here; all means of revenue calculated and audited, statistics are prepared as are ledgers. A property management system should be having a console that can look into these things easily and without much human effort. 5. Housekeeping: Hotel management software can be a great help when it comes to taking care of rooms. Fro
Xin Jing

Envysion Implements its Managed Video as a Service Platform with Aloha Restaurant Guard... - 1 views

hospitalitytechnology.edgl.com/...th-Aloha-Restaurant-Guard78051

guard restaurant platform video

shared by Xin Jing on 20 Jan 12 - No Cached
  • The integration of these solutions enables restaurant owners to monitor cash handling and exception reports, identify trends and validate suspicious transactions identified by Restaurant Guard by viewing the video taken at the time of the transaction.
  • Xin Jing on 20 Jan 12
     
    The Aloha restaurant managed video as a service platform which is the leading exception reporting and theft deterrence tool for the restaurant owners. By utilizing Enysion's video, restaurant owners can monitor cash handling easier, identifiy potential suspicious activity faster and monitor the exception report effectively. Moreover, Aloha Restaurant Guard which invented by NCR corporation can identified the common scams through analyzes POS data and transactions. I think that combine Aloha Restaurant Guard to Envysion's video, the owner of the resturant may have a whole picture of the restaurant in their mind through easy used video web interface and secure video clip sharing, data from the two platform and intelligence reports. This is a good model for restaurants to reduce the profit losses from fraudulent activities. It smooth restaurants' daily operation meanwhile employees will regular their own behavior during the work period.
Stephanie De Paz

The OTA Billboard Effect or the Lazy Man's Approach to Hotel Distribution - 0 views

www.hebsdigital.com/...online-travel-agencies

hotel blog tech mobile emarketing

shared by Stephanie De Paz on 20 Jul 12 - No Cached
  • HeBS digital Blog Archive for the ‘Online Travel Agencies (OTAs)’ Category The OTA Billboard Effect or the Lazy Man’s Approach to Hotel DistributionMonday, August 1st, 2011 The following article is Max Starkov’s latest contribution to the “Successful eMarketing” blog on HOTELS magazine’s website The existence of the so-called billboard effect is not a new marketing phenomenon. It has existed long before the online channel became a reality. As confirmed by many studies, any marketing exposure by a hotel produces a billboard effect:  when you launch a banner advertising campaign; when you purchase a full-page ad in the New York Times travel section; when you launch a paid search campaign on Google, etc. The OTA Billboard Effect Lately Expedia reps have been aggressively using a new Cornell Hospitality Report, namely “Search, OTAs and Online Booking: An Expanded Analysis of the Billboard Effect” to convince hoteliers that they should use Expedia in order to generate more bookings from the hotel’s own website due to the so-called “Billboard Effect.” The Cornell Report, based on data from Expedia and InterContinental Hotel Group (IHG) from 2008-2010, is a continuation of a previous report on the subject, heavily supported by Expedia. The report’s analysis determined that when an IHG property was listed on the first results page of Expedia, this created an increase of between 7.5% and 14.1% in bookings for the same property on IHG’s own brand website. In other words, this is a confirmation for Expedia’s billboard effect, which hoteliers should take into consideration when griping against the 25% plus merchant OTA commission. When these “billboard effect bookings” are taken into consideration, Expedia’s commission “would effectively be reduced to single digits,” states the Cornell Report. Hoteliers, rejoice! We have found the perfect recipe for success: we do nothing as far as marketing the property website is concerned. Instead, we plaster Expedia with our sales promotions and wait for the travel consumers to come to our own website and book. As discussed, the billboard effect is not strictly an OTA territory. In my view, the Cornell Hospitality Report is a one-sided research project, very proactively supported by Expedia, similar to the first report on the billboard effect published in 2009. Cornell, the finest hospitality institution in the U.S., should know better than to come up with this half-baked “scientific” research, which does not account for the complexities of hotel distribution as well as the “digital information cloud” we all live in and the resulting marketing and distribution channel convergence which directly affects the purchasing habits of today’s hyper-interactive travel consumers. This report makes conclusions that do not take into account, among many other things, the following: Complex Travel Planning Patterns in Hospitality Many surveys show that people are shopping around on a number of hotel and travel websites before narrowing down their search. Typically in hospitality, these sites include a hotel search on a search engine e.g. Google (65% market share), an OTA website, TripAdvisor, the hotel’s own website, etc. Therefore jumping from an OTA website to a hotel branded website and vice versa is at least partially due to particular travel research patterns unique to the users and not due to the so-called billboard effect: Step 1: “I always search on Google first where I identify a property I like” Step 2: “I go to Expedia and see what the rate for this property is” Step 3: “I visit TripAdvisor to read my peer reviews for this hotel” Step 4: “I visit the hotel website and book if I like the location, rate and what I have read and seen about this hotel”
  • Stephanie De Paz on 23 Jul 12
     
    Hotels are clearly focusing on marketing as a major source of revenue in this day and age. HEBS Digital (Hospitality eBusiness Strategies) is an online blog and eMarketing refuge for those in the hospitality industry. With statistics and research to support the growing advertising claims, they give light to major opportunities in marketing on the internet.
Hana Musilova

Expanding global footprint with accounting software for hotels - 0 views

www.4hoteliers.com/4hots_nshw.php

shared by Hana Musilova on 18 Sep 12 - No Cached
  • What should hotels look for in their financial management system then?Handling currency complexity
  • Handling multiple languages
  • Handling multiple entities
  • ...19 more annotations...
  • Supporting multiple charts of accounts
  • Handling multiple calendars
  • Handling tax complexities
  • Reporting using multiple accounting standards
  • Supporting different levels of corporate reporting
  • Supporting global access
  • In the increasingly volatile and regulation-filled business world, the ability to adapt is of utmost importance;
  • During the transition, many hotels might find themselves trying to avoid incurring costs and disruptions by sticking with their existing accounting software.
  • Moreover, different countries have different units of measurements and formats, which need to be reported as well. Hence, it is vital that hotels’ financial management software can handle all of these.
  • Rapid globalisation means that hotels are likely to report in more than one currency. Thus it would be a tremendous help if hotel accounting software can handle multiple currencies.
  • Nonetheless, if businesses do not conduct comprehensive evaluation of their needs and software capabilities, they may well end up paying more than they could save.
  • A hotel chain with various branches in different countries or jurisdictions has the extra workload that entails complexity.
  • a hotel financial management system should be capable of consolidating results from discrete entities for statutory reporting and tax purposes.
  • The rigid approach of a single chart of accounts is especially unsuitable for companies with different lines of businesses, those in joint-venture arrangements or those acquiring businesses in different countries.
  • It is a fact that businesses around the world do not operate on the same fiscal year. To save time from having to recast figures into different calendars, hotels with multinational operations should implement a financial management system that can create local, regional and consolidated reports as needed for management or statutory purposes.
  • For hotels operating in various countries, their accounting software should be able to handle the complexities associated with different tax regulations and help defending tax audits.
  • GAAP, IFRS and local accounting standards require different accounting treatments. Thus, accounting software for hotels should allow different books for recording transactions under these various accounting rules.
  • A multinational hotel’s accounting system should be able to create a consolidated headquarters view as well a consolidated statement of several subsidiaries at an intermediate level.
  • Financial management software that allows web-based access can help hotels avoid incurring costs from installing the system individually at all branches or at branches with limited on-premise support. Having a system that can be installed locally, deployed centrally and accessed globally gives hotels a competitive advantage without compromising security and reliability.
  • Jenna Rashbaum on 18 Sep 12
     
    Many hotels may want to chance their accounting systems but at the same time are trying to avoid all of the new costs and possible disruptions that come with a new system. By staying with their old systems though it could end up costing them more money in the long run if the system decides to just stop working and then you lose all of your data.
  • ...1 more comment...
  • Jenna Rashbaum on 18 Sep 12
     
    Any hospitality organization should look for all of these things when considering a new financial management system. It might end up being more expensive but in the long run will end up saving the company lots of money.
  • anonymous on 11 Feb 13
     
    This article describes what basic capabilities an accounting software for a hotel who is trying to expand globally should have. As well know, it is very important for a company to be able to adapt to changing times. Hotels are an industry that is constantly facing challenges, especially when trying to expand globally. This article gives some very important tips on what hotels should looks for when putting their financial management system in place. For example, expanding globally means a hotel would have to handle different currencies at one time. This is somewhat of a complex task for a company who is new to the global arena. Hotels should make sure to have a system that would make following different sets of accounting and business rules easier for the company. Another example is hotels should have a system that is able to utilize multiple accounting standards. "GAAP, IFRS and local accounting standards require different accounting treatments", therefore, software for hotels should be able to accommodate these variations.
  • Hana Musilova on 03 Mar 13
     
    I found this article very interesting as it discusses various aspects that a financial system should have in order to provide the most accurate and timely financial reports and analysis to help hotels to be more efficient and increase profit. According to the article, as all the hotels are evolving and changing at all times and the financial system has to be able to keep up with all the changes. One of the few things a financial management system should be able to do is to handle currency complexity and make sure that the hotel's accounting system can handle multiple currencies. A good financial system should also be able to handle multiple different languages for employees with different language backgrounds and also units of measurements and formats. The system also needs to be able to support multiple charts of accounts. According to Ventana Research 2011, "maintaining multiple charts of accounts may prove to be both simpler in the long run and more productive." Another important aspect of a good financial system it to handle tax complexities for hotels operating in various countries. The accounting software should be able to "handle complexities associated with different tax regulations and help defending tax audits." The last important fact it that the software should web based therefore accessible from anywhere and anytime. I find the last one the most important one as our technology and our PMS are moving into cloud based systems, it is curial that we are moving in the right direction with all of our systems and have them synchronized.
kteme001

Accounting for Special Events | Nonprofit Accounting Basics - 0 views

www.nonprofitaccountingbasics.org/...accounting-special-events

Hospitality Industry Technology software business travel tech

shared by kteme001 on 28 Feb 18 - No Cached
  • Accounting for Special Events
  • In this example, it would be beneficial for the nonprofit to track and record the number of attendees, ticket price, and fair value of the event.
  • Option 1 -
  • ...9 more annotations...
  • Option 2
  • ption 3 -
  • In order to properly report the activities of these events, a number of transactions need to be recorded for each event:
  • The difference between the amount paid by the donor and the fair value of the benefit received by the donor is considered a contribution.
  • The costs will also include the catering, ballroom, decorations, meals and refreshments, etc.
  • In-kind contributions: For each special event there could be three types of in-kind contributions that are documented:
  • Auctioned items
  • tems provided to the donor
  • Donated services or facilities:
  • kteme001 on 28 Feb 18
     
    This article touches on events and the process Event Coordinators use to keep track of money. Things like dinners, galas, auctions and fundraisers are examples of events that involve a transfer of money. The "Direct benefit to donors" are the actual costs of the items and services given to guests for their attendance. There are 3 options given to report these benefits. Option 1 - Present the Costs of Direct Benefits to Donors as a line item. Option 2 - Present Special Event Gross Revenues in the revenue section of the Statement. Option 3 - Present the contribution portion as contribution revenue and the exchange portion (fair value received by donor) as special events revenue. To properly report activities each transaction needs to be recorded for revenue purposes. Tracking the number of attendees, ticket prices, and value of the event is important to make sure funds are being allocated correctly. If lump sum donations are made or sponsorships are involved, that revenue needs to be reported as well. On top of this, costs need to be calculated too, event space rental, food, table cloths… in order to come up with a final profit number. Sometimes donated auction items are used to incur a 100% profit for the organization.
berkley7

5 eco-friendly trends radically transforming foodservice | Fast Casual - 1 views

www.fastcasual.com/...cally-transforming-foodservice

shared by berkley7 on 08 Jun 18 - No Cached
  • Deploying technology that conserves and saves
  • Subway is leveraging the latest technology to cut down on paper waste, conserve power during restaurant down times and improve overall efficiency so that operations are sustainable and environmentally sound.
  • Provision dynamic virtual/cloud systems
  • ...5 more annotations...
  • Automation can optimize an IT department's use of cloud and virtual resources, allocating additional computing resources when needed as well as powering down resources during idle times.
  • Onboard and offboard employees
  • Streamline reporting
  • IT organizations can streamline and consolidate reporting by using parameters instead of hard-coding, resulting in reports being run once rather than hundreds of times.
  • High efficiency HVAC (Heating, ventilation and cooling) equipmentEnergy Star rated equipmentHigh efficiency lighting programLow flow faucets and low flow or dual flush toiletsMotion sensor lighting controls in restroomsDay light sensors in guest areaLED interior and exterior signageNon-smoking environmentOutside air monitoring of CO2Indoor air quality management during constructionReuse of at least 30 percent of store furnitureForest Steward Council-certified wood moldingsLow VOC (volatile organic compounds) materials, paints, adhesivesElectrical sub metering and thermal comfort monitoringCertified green cleaning programRecycling and construction waste management programLEED/Eco Restaurant educational materialFurniture products not manufactured with or containing ozone depleting substances
  • berkley7 on 08 Jun 18
     
    The following article reviews a few eco-friendly trends that are helping transform the foodservice industry. As green technology becomes mainstream it is important for companies in the hospitality industry to understand the potential impacts they could have on the environment by adopting some of these trends. Streamline reporting is one way that green technology shows to be beneficial. By streamlining and consolidating reporting vs. hard-coding, etc. offers users greater visibility over workload performance. Another popular green technology is virtual cloud systems. These cloud systems can help eliminate resource waste and reduce operational costs. The article mentions how Subway and BurgerFi are taking major steps in leveraging the latest technology to minimize their carbon footprint. A few things they focus on is cutting down their paper waste, conserve power, and improve overall efficiencies so the restaurants are environmentally "sound".
dominiquecolas

Why MIS is Important for Business - Advantages of MIS & Reporting - 2 views

aristotleconsultancy.com/...mis-important-businesses

MIS management information systems

shared by dominiquecolas on 30 Aug 19 - No Cached
    • dominiquecolas
      dominiquecolas on 30 Aug 19
       
      I am not sure of the accuracy as this statement, as it does not provide data to back up the costs of hiring staff versus outsourcing this position. Also, considering that this is posted by a consultant firm, this statement might be a little biased.
  • The primary purpose of MIS reporting system is to provide critical business information to the management for complex decision making
  • MIS helps in maintaining and managing crucial business data for assisting in complex decision-making by the management.
  • ...6 more annotations...
  • Collection of appropriate data from various reliable sources. Processing of such data to extract the relevant and useful information. Delivering this information to the respective department.
  • Management information system or MIS is a set of procedures that provides essential data and information to the management for making an informed decision
  • MIS uses various mathematical tools for analyzing the current market trend and predicting future trends based on such information.
  • Hence, in case any problem arises in front of the management, MIS reports are quite helpful in identifying the source of the problem.
  • firm can ei
  • It is better to outsource the process as the company will receive the services of experts at minimal costs as compared to hiring staff for MIS reporting. Also, outsourcing MIS reporting process is cost-effective and saves precious time of the management.
knare002

Travel Agents Rely on GDS for Hotel Selection | News | Breaking Travel News - 0 views

www.breakingtravelnews.com/...btn20031022103429241

shared by knare002 on 26 May 19 - No Cached
  • Conducted by NFO Plog Research, the study shows approximately 60% of all travel agents are aware of advertising via GDS media, a proportion that is unchanged from research conducted two years ago.
  • The research study also demonstrates that travel agents are increasing their reliance on GDS systems for hotel information. Nearly 90% of travel agents say that they use their GDS and GDS shopping displays as much or more today than two years ago. Travel agents also report increased use of hotel property Web sites compared to two years ago. Travel agents are less likely now to use printed hotel directories, direct mail, fax, and the phone to gather information about hotels.
  • The GDS remains one of the most critical and productive marketing channels for a hotel,” said Roland Tanner, president of the Hotel Electronic Distribution Network Association. “The travel agent GDS marketplace remains the largest single source of electronic business for the hospitality industry, and, although we are seeing large volume growth in the Internet distribution channels, the GDS is still a much larger source of room night revenue compared to the entire Internet channel.”
  • knare002 on 26 May 19
     
    The research the article reports supports traditional travel agents reliance on GDS for hotel selections. The article reports travel agents respond to GDS media used mostly by hotels. The information shared in the article written in 2003 and reported there was an increase in the use of their GDS from two years prior. Considering the growth of GSD today offering more selections sixteen years later, it should be more beneficial for travel agents.
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.
  • ...11 more annotations...
  • 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.
bbalthaser

Cybersecurity Budgets Increase for Retail & Hospitality Industry - 1 views

www.darkreading.com/...or-retail-hospitality-industry

shared by bbalthaser on 27 Feb 23 - No Cached
  • 70% of CISOs expect their budgets to increase again this year, while 60% also expect more FTEs, according to the CISO Benchmark Report released today from the Retail & Hospitality Information Sharing and Analysis Center (RH-ISAC).
  • This year, business disruption emerged as a top 10 (No. 7) risk that organizations currently face, up seven spots from No. 14 in 2021. Similarly, 50% of CISOs now have business continuity/disaster recovery as part of their core responsibilities, an increase of 11 percentage points since last year.
  • very few CISOs have fraud as part of their core responsibilities, according to the report.  
  • bbalthaser on 27 Feb 23
     
    Chief of Information Security officers (CISO) report summarizes that hospitality and retail industries will be spending more accounting for 70% more providers. The report looks at a variety of benchmarks to assess like budgets and personnel. Fraud is not as prioritized as one might think and this time the focus is on business disruption. One core of responsibility seen by at least 70% of CISOs is of continuity and disaster recovery. They are also examining a new benchmark which is staff function priorities. The evolving of the industries is why cybersecurity threats are so complex. The report provides vital information to benefit CISOs on trends. The report in question is very interesting in how it examines what people are spending on their IT security budgets and breaks down where that money is being utilized and staffing. This would be a useful tool for hospitality providers looking to increase their budget because they can analyze other providers and what is currently trending in terms of threats and how to allocate assets whether money or personnel. If the biggest threat to providers is disruption then having an emergency action plan in place would highly benefit providers under underbudgeting. This would be a great tool for any organization to plan their IT strategy with security in mind.
Paulette Grant

How companies are benefiting from Web 2.0: McKinsey Global Survey results | McKinsey & ... - 0 views

www.mckinsey.com/...mckinsey_global_survey_results

web 2.0 technology online survey

shared by Paulette Grant on 13 Jun 13 - No Cached
  • Nearly 1,700 executives from around the world, across a range of industries and functional areas, responded to this year’s survey.1 1.McKinsey Quarterly conducted the survey online in June 2009 and received 1,695 responses from executives across industries, regions, and functional specialties. We asked them about the value they have realized from their Web 2.0 deployments in three main areas: within their organizations; externally, in their relations with customers; and in their dealings with suppliers, partners, and outside experts.
  • Paulette Grant on 13 Jun 13
     
    The article highlights the benefits that companies around the world are deriving through the use of web 2.0. This was done through a survey from a range of industries that has used web2.0 and has seen tremendous value of the technology in dealing with both internal and external customers. According to the report 69 percent of respondents report that web 2.0 has impacted their businesses in a positive way. They are able to market products more effectively, reduce the cost of doing business and better able to communicate with customers, suppliers and of course the ability to collaborate with business partners and experts in a dynamic way; something that was not possible using the static web pages of web 1.0 The article was written four years ago and this goes to show that the technological capabilities of web 2.0, one that revolutionizes the way business has been conducted online, has been around for quite a long time and has been creating tremendous benefits for many businesses such as increase revenues. As the technology continues to increase and expand, and the public's acceptance continues to grow, going beyond web 2.0 is what we are presently experiencing using tools such as semantic web and augmented reality with the launch of web 3.0. The report uses exhibits to highlights areas that companies have gain measurable benefits using web 2.0, how companies have tie other technologies into web 2.0 and regions of the world such as North American and China that have experience tremendous benefits from web 2.0 interaction with both customers and business partners.
Yujia Xie

HR Technology Group - 0 views

www.hrtechnologygroup.com/techtoolkit_hris.html

technology planning HRIS

shared by Yujia Xie on 10 Apr 13 - No Cached
  • There's nothing more frustrating then installing an HRIS system and not being able to get information out of it. You need to be able to manage and provide data for managers and human resources to make decisions. We help you develop systems that work for your needs including excellent report writers that help you get the information out of your system
  • HRIS-Pro provides comprehensive employee and applicant tracking, including qualifications, compensation, flex benefits and time off data. Our Screen Painter allows you to add and modify screens to maintain information unique to your organization. Smart HR means flexibility in data maintenance and output. HRIS-Pro provides powerful reporting with a variety of import, export and customization options. A Payroll interface can be customized to in-house or third-party payroll systems. Special interfaces may be customized to your other in-house or third party databases. HRIS-Pro allows you to provide any form of strategic information your management team needs, quickly and easily.
  • HRIS-Pro (Version 5.5) is built in Microsoft's FoxPro for Windows, a well-known, widely used technology with a reputation as an industrial-strength development platform for enterprise-critical applications. HRIS-Pro runs on Microsoft Windows 3.1/95/NT/98, is completely compatible with Novell and other popular networks and is Year-2000 ready. FoxPro features Rushmore technology, which makes reports and queries among the fastest available. FoxPro also includes Power Tools that make it easy to modify screens, data fields, tables, reports and queries. Visual FoxPro, which comes with a comprehensive set of Internet/intranet tools, is the development platform on which HRIS-Pro Net is built.
  • Yujia Xie on 10 Apr 13
     
    As this article mentioned, HRIS mainly assists you to keep record, report and manage your data in a web-based solution. It introduces the advantages of HRIS, and makes suggestion for installing it in your companies. It is very convenient and easy to access data. It is very flexible for you to change them. In my opinion, it is very well to install in hospitality industry because it makes everything easy. It can help HR Department to manage their daily events, strategic planning and easier data searching. The biggest benefit is to save a lot of time for HR staff.
Xiaoxiao Wang

The Importance of the Point of Sale (POS) System - 0 views

www.foodservicewarehouse.com/...c28000.aspx

shared by Xiaoxiao Wang on 03 Oct 12 - No Cached
  • The POS acts as a cash register as well as a computer. In fact, the POS can consist of multiple stations, including credit card terminals, receipt printers, display screens, hostess stations and server stations.
  • For quick-service or fast-casual restaurants, the POS systems are usually located in a visible place, often close to the front doors of the restaurant. In a full service restaurant, the POS is usually located in a discreet location so as not to interfere with the ambience or the dining experience.
  • Price and quality
  • ...7 more annotations...
  • Necessary hardware components
  • Technical support
  • Software to track data
  • User friendliness.
  • Financial reporting capabilities
    • Juan Du
      Juan Du on 22 Feb 13
       
      Restaurant can use the POS equipment to capture orders, record data and display or print tickets. It can save cost and time. Make the accounting system more accurate and avoid more mistake instead people do these staffs. It can help manager do many things. And especially in the large chain restaurants, the POS can help managers to collect all of the data and information. It is an especially effective way to stay organized, communicate the status of orders, and record speed of service information.  
  • Point of Sale (POS) equipment is the computer-based order-entry technology many restaurants use to capture orders, record data and display or print tickets. Restaurant servers, bartenders and cashiers can all use POS systems to easily enter food and beverage orders.
  • haojingting on 03 Oct 12
     
    Point of Sale (POS) equipment is the computer-based order-entry technology many restaurants use to capture orders, record data and display or print tickets. Restaurant servers, bartenders and cashiers can all use POS systems to easily enter food and beverage orders.In fact,it has the ability to perform a multitude of functions, including the following: Calculate cash due for every order entered Record the method of payment Keep track of the cash in the cash drawer Create hourly and daily sales reports Allow hourly employees to clock in and out Calculate labor and payroll data Record daily check averages for each worker Keep track of menu items sold Record information on repeat customers Some of them we are familiar, some we are not. And more important, how to choose a right POS for our business is a keyEvery POS system differs based on its software, hardware and application. When looking for a POS system, do some research online and check out several different companies. You can even request a demo from a salesperson. Make sure the POS system you choose is one that fits your restaurant concept, service style and business needs. After all, this software can take a big bite out of your budget. And in this article, the author show us so many aspects should be concern when we decide to buy the POS.
  • ...2 more comments...
  • Jingjia Zhang on 06 Oct 12
     
    This article introduce the POS capabilities, how employees use them, where to set up the POS, specific POS Configurations and what people should look for in a POS system. The focal point of this article is the last part. It tells manager what are the keys when choosing a POS system. They are Price and quality, Necessary hardware components, Software to track data, Financial reporting capabilities, User friendliness and Technical support.
  • Mikaela Vourtsis on 19 Feb 13
     
    This article reviews the ultimate significance in having a Point of Sale System in a restaurant. It utterly describes the capabilities of the system which include keeping track of how much cash is in the register and creating daily sales reports. How employees can use the system for their convenience and the processes to go through. The set up location; where the POS equipment should be properly set up. Specific configurations with the POS and finally other important details within the system. The articles claims that there are several advantages with using the POS system and one of them is the fact that it gathers data which aids with marketing your current customers as well as new guests. It continues by being a helpful guide in a restaurant while offering suggestions and gathering information and essentials to use. The article goes into detail by stating that restaurants and businesses need to look into several POS equipment to find the most accurate and resourceful one for the specific place of business.
  • anonymous on 20 Feb 13
     
    The point of sale (POS) is more commonly used these days with the advancement of technology. Many restaurants use it in restaurants for many reasons. One of the reasons is to organize the orders and sales that are being processes. Not only it helps the employees to gather their information, but it is also accurate to make reports. This machine is efficient in more ways than we think. This article also point out the POS capabilities and how it works. This machine has a description of each item and the amount, it organizes the payments, creates daily financial statement, evaluate payroll, and do the calculations. Now how it works, it keeps track of the credit card payments that have entered the system, creates reports daily, and systematize the cash, etc. It is very easy for employees to access the device. First they have to enter their name, enter the order of the customer, send the order to the kitchen so it can be prepared, then wait till they ask for the check to collect the payment and register it on the POS.
  • Xiaoxiao Wang on 27 Feb 13
     
    This article indicates the importance of the POS system. It introduces POS system from different aspects, including POS capabilities, how employees use POS system, where to set up the POS, specific POS configurations and what to look for in a POS system. 
Paige Wuensch

Sentry Hospitality Installs Aptech ASP Centralized Accounting - 0 views

www.hotelnewsresource.com/SP_Centralized_Accounting.html

hospitality sentry accounting technology hotel

shared by Paige Wuensch on 06 Jul 13 - No Cached
  • Sentry is a privately-held company that develops and operates business destinations, conference centers, golf club resorts, lifestyle communities, entertainment attractions and next generation learning centers throughout the U.S.
  • CFO for Sentry Hospitality, said, 'Sentry is rapidly acquiring assets; Aptech's Web-based applications let us bring properties online with standardized Sentry financials as fast as we add them into the group.
  • 'These applications are more than accounting systems; they provide analytical support that lets me judge the productivity of each property daily,
  • ...1 more annotation...
  • 'The industry's property consolidation trend is creating larger hotel groups like Sentry that require centralized, secure real-time financial systems to manage their assets. With the implementation of Profitvue and Webvue Sentry created consolidated and non-consolidated financials on a reliable remote database platform. They are using a secure encrypted Internet link to access the information 24 hours a day for greater management control.'
  • Paige Wuensch on 06 Jul 13
     
    Sentry Hospitality company has implemented Aptech Computer Systems Inc.'s Profitvue and Webvue. This web-enabled hospitality back office solution easily handles single or multi-property and multi-company accounting, and incorporates accounts payable, general ledger, budgeting, forecasting, and financials. Profitvue is used by over 500 properties! These programs are back office accounting systems to automate several financial reports and analysis functions for businesses and hospitality companies. Managers can check on a hotel's performance from anywhere using real-time access to financials at any time, from any location! Webvue is an extension of Profitvue that supports property accounting and reporting via the Internet. Coupled with Profitvue, Webvue enables properties to quickly and easily send and access financial and statistical data and generate reports through its Internet. Both Profitvue and Webvue are protected and secure to use!
rebecca Bonet

Study Touts Mobile Innovation as Major POS Influencer | News | Hospitality Magazine (HT) - 0 views

hospitalitytechnology.edgl.com/...n-as-Major-POS-Influencer82236

shared by rebecca Bonet on 04 Oct 12 - No Cached
  • that current POS were not well integrated into other IT systems (28%); that the POS is not ready to grow with their company (26%); and that it is difficult to add additional modules or functionalities to the current POS (30%).
  • negative perceptions of wireless POS have given way to a more positive outlook
  • E-wallet payment was the most widely recognized new payment option with 36% of respondents indicating they wanted it with their next POS.
  • ...8 more annotations...
  • Three quarters of respondents reported that mobile POS capabilities were the top technology features they wanted for next POS solutions.
  • that current POS were not well integrated into other IT systems (28%); that the POS is not ready to grow with their company (26%); and that it is difficult to add additional modules or functionalities to the current POS (30%).
  • and this was echoed in the VSR study. Three quarters of respondents reported that mobile POS
  • echoed in the VSR study. Three quarters of respondents reported that mobile POS capabilities were the top technology features they wanted for next POS solutions.   Reasons for this vary from improving the customer experience (63%); mobile POS providing associates with better tools (54%); speeding up checkout (39%); and providing a more mobile workforce (32%).
  • Reasons for this vary from improving the customer experience (63%); mobile POS providing associates with better tools (54%); speeding up checkout (39%); and providing a more mobile workforce (32%). 
  • According to the report, restaurant operators have a wish list of anticipated POS platforms that go beyond mobile POS (49%).
  • Improving payment options remains also was named as an important—if not dominant— POS technology for many respondents.
  • All of these payment options require a POS that is PCI Compliant and capable of recognizing the new payment technologies. E-wallet payment was the most widely recognized new payment option with 36% of respondents
  • shuo zhang on 04 Oct 12
     
     In the customer survey the mobile POS requirement is high, and the online payment is also popular among consumers. The trend is obviously and the development of such technology will become beneficial investment for the company.  
  • YUE LI (3325307) on 06 Oct 12
     
    This article shows us the result of VSR Magazine's first annual "2012 POS Study". The result indicated some developments and some worries of end users. 28% current POS were not well integrated into other IT systems, the POS is not ready to grow with their company, and it is difficult to add additional modules or functionalities to the current POS. But it also indicated negative perceptions of wireless POS have given way to a more positive outlook. Most of them wanted mobile POS capabilities to be the top technology features for next POS solutions because of three reasons. Firstly, mobile POS is vary from improving the customer experience. Secondly, mobile POS providing associates with better tools. In addition, it speeding up checkout and providing a more mobile workforce. Most of them wanted E-wallet payment in the next POS. some others were interested in near-field communication payment, while very few people want future POS to recognize near-field communication coupons.
  • rebecca Bonet on 06 Oct 12
     
    The article talks about the results of first annual "2012 POS Study." The study were POS were not well integrated into IT systems 28% that the POS is not ready to grow with their company(26%) and to the additional modules or functionalities to the current POS ( 30%). Secondly, the study also shows the negative perceptions of wireless POS have given way for positive outcomes. For example, they want mobile POS capabilities were the top technology features they want for the next POS solutions. According to reports, restaurant operators have a wish list of anticipated POS platforms that go beyond mobile POS. Finally, E-wallet payment was the most widely recognized new payment option, with 36% of respondents that they want it with their next POS.
rebecca Bonet

Use Hotel Reservation Software to Offer Instant Gratification Comfort to Customers - 1 views

www.sooperarticles.com/...comfort-customers-1020394.html

shared by rebecca Bonet on 02 Sep 12 - No Cached
  • Travel and tourism industry are the largest business of internet and its
  • continuous growing industry. Hotel industries are taking advantage of hotel reservation software for online booking and make their business
  • more efficient
  • ...11 more annotations...
  • The system is very helpful for hotels, motels, chains restaurants, guesthouses
  • customers.
  • etc. It is
  • Hotel software provides improved guest service, eliminates double booking, the ability to view, choose and reserve choice of rooms, the instant confirmation at anytime and secure the personal information. This system can streamline the booking tasks, keep up to date customer database, making invoicing simple and straightforward, and ability to create custom reports.
  • suitable for any hospitality business that operates in a daily basis. Hotel reservation software is used by the hotels and travel companies to show room availability and provides secure as well as accurate online hotel reservation services to
  • Hotel reservation software is powered by a technology that connects directly to the central reservation systems of hotels worldwide. Moreover, hotel reservation engine provides the widest selection of hotel accommodations throughout the world with better room and rate descriptions, which can be utilized for bettering up the services
  • custom-made
  • reservation software packages
  • print in any language
  • Being user-friendly, this Hotel Software can be used by just anyone irrespective of his/her technical knowledge and expertise. Security and Logins are the two crucial part of hotel reservation software. User-friendly features of hotel reservation software allow owners to create logins for important tasks. It not only reduces the risk of unauthorized access and allows him to choose, which employees can access which features, it also helps owners to have secure and safe transactions.
  • Hotel software offers operation integration between reservations, guest history, reception/front desk, housekeeping, Night Audit, Sales Ledger, Accounting and Reporting modules. The advantage of getting hotel reservation software is that work performed during the long process of reservation can be cut into a few minutes. In addition, this cut down human error and the number of people that are required to finish the job. This brings a lot of benefits into business and owner can promptly make a sale through his site. With the help of hotel reservation software, the data about customers, their behavior, etc. can be stored and there would not be any requirement of piling up files to know about visiting customers as the hotel software stores it all. Other benefit of software includes quick generation of bills, invoices, safe online transaction via payment gateway system, multiple payment options support. It does not matter what size or where the hotel is, getting hotel reservation software is a very sound investment. Hotel Reservation Software helps the hotel industry by reducing the human effort, improving the staff's efficiency and the profit of the hotel.
  • rebecca Bonet on 02 Sep 12
     
    Hotel Reservation Software is making online booking easier. The advantage of Hotel Reservation Software is that it can show rooms availability, it eliminate double booking, and it provides the availability to reserve specific rooms while giving instant confirmation. The software keeps personal information secure, maintain costumer data base and create custom reports. The crucial part of the technology is it security feature and it is user- friendly. Hotel Reservation Software enables communication between all hotel depart, making booking quicker and easier and provide useful financial and customer reports.
Irine Wallace

Opera Property Management System - 0 views

www.micros.com/...OPERAPropertyManagementSystem

Property Management System (PMS)

shared by Irine Wallace on 10 Sep 12 - No Cached
  • Reservations ― features are integrated with other functionality such as profiles, cashiering and deposits. This property management software module provides a complete set of features for creating and updating individual, group and business block reservations, including deposit handling, cancellations, confirmations, wait listing, room blocking and sharing.
  • Reservations ― features are integrated with other functionality such as profiles, cashiering and deposits. This property management software module provides a complete set of features for creating and updating individual, group and business block reservations, including deposit handling, cancellations, confirmations, wait listing, room blocking and sharing.
  • Reservations ― features are integrated with other functionality such as profiles, cashiering and deposits. This property management software module provides a complete set of features for creating and updating individual, group and business block reservations, including deposit handling, cancellations, confirmations, wait listing, room blocking and sharing.
  • ...11 more annotations...
  • Reservations ― features are integrated with other functionality such as profiles, cashiering and deposits. This property management software module provides a complete set of features for creating and updating individual, group and business block reservations, including deposit handling, cancellations, confirmations, wait listing, room blocking and sharing.
  • Profiles ― complete demographic records for guests, business accounts, contacts, groups, agents and sources. Profiles include addresses, phone numbers, membership enrollments, stay and revenue details, guest preferences and additional data that make reservations handling and many other activities faster and more accurate.
  • Back Office Interface ― revenue transfers, market statistics transfers, daily statistics transfers, and city ledger transfers can be easily made from OPERA Property Management System to a back office system.
  • Rooms Management ― handles all facets of room supervision including availability, housekeeping, maintenance and facility management. The Queue Rooms feature of the property management software coordinates Front Office and Housekeeping efforts when guests are waiting for rooms which are not immediately available for assignment.
  • Cashiering ― posting guest and passer-by charges (including taxes and other generates), making posting adjustments, managing advance deposits, settlements, checkout and folio printing are a few of the many activities handled by OPERA Cashiering. Cashiering accommodates multiple payment methods per reservation including cash, check, credit cards and direct bill. In multi-property environments, guest charges can be cross-posted from any property in the hotel complex
  • Cashiering ― posting guest and passer-by charges (including taxes and other generates), making posting adjustments, managing advance deposits, settlements, checkout and folio printing are a few of the many activities handled by OPERA Cashiering. Cashiering accommodates multiple payment methods per reservation including cash, check, credit cards and direct bill. In multi-property environments, guest charges can be cross-posted from any property in the hotel complex
  • Cashiering ― posting guest and passer-by charges (including taxes and other generates), making posting adjustments, managing advance deposits, settlements, checkout and folio printing are a few of the many activities handled by OPERA Cashiering. Cashiering accommodates multiple payment methods per reservation including cash, check, credit cards and direct bill. In multi-property environments, guest charges can be cross-posted from any property in the hotel complex
  • Cashiering ― posting guest and passer-by charges (including taxes and other generates), making posting adjustments, managing advance deposits, settlements, checkout and folio printing are a few of the many activities handled by OPERA Cashiering. Cashiering accommodates multiple payment methods per reservation including cash, check, credit cards and direct bill. In multi-property environments, guest charges can be cross-posted from any property in the hotel complex
  • Cashiering ― posting guest and passer-by charges (including taxes and other generates), making posting adjustments, managing advance deposits, settlements, checkout and folio printing are a few of the many activities handled by OPERA Cashiering. Cashiering accommodates multiple payment methods per reservation including cash, check, credit cards and direct bill. In multi-property environments, guest charges can be cross-posted from any property in the hotel complex
  • Cashiering ― posting guest and passer-by charges (including taxes and other generates), making posting adjustments, managing advance deposits, settlements, checkout and folio printing are a few of the many activities handled by OPERA Cashiering. Cashiering accommodates multiple payment methods per reservation including cash, check, credit cards and direct bill. In multi-property environments, guest charges can be cross-posted from any property in the hotel complex
  • Your front desk often makes the difference between ‘never agains’ and ‘long-term relationships.’ At the core of the OPERA Enterprise Solution is our premier property management software, the OPERA Property Management System (PMS). Designed to meet the varied requirements of any size hotel or hotel chain, OPERA PMS provides all the tools a hotel staff needs for doing their day-to-day jobs – handling reservations, checking guests in and out, assigning rooms and managing room inventory, accommodating the needs of in-house guests, and handling accounting and billing. The property management software is configurable to each property’s specific requirements and operates in either single-property or multi-property mode, with all properties in an enterprise sharing a single database
  • Irine Wallace on 10 Sep 12
     
    SUMMARY OPERA Property Management System is fully integrated with all the OPERA modules and offers the most extensive list of certified interfaces in the industry. FEATURES: Reservation, rate management, profiles, front desk management, back office interface, room management, cashiering, account receivables, commissions, reporting, fully configurable, global perspective, hospitality system interface, opera express, tailored to fit hotel's operational business needs, scalable to suit the size of the hotel, helps operators to become more productive, profitable and professional, and delivers fast, accurate and online information on property
  • Jenna Rashbaum on 10 Sep 12
     
    A lot of hotels use OPERA as their property management system. I have never personally worked in a hotel so I am not familiar with PMS's but from everything that I have read and heard from people is that OPERA is very efficient with everything. This system seems as though it can do everything for your property just the way that you would like it to. OPERA is customizable to your company's needs which seems great. This is a great website that you posted as it informs all of us exactly what this PMS is capable of.
Hyeyoung Jang

IT in hospitality - Express Computer - 1 views

www.expresscomputeronline.com/...management01.shtml

http:__www.expresscomputeronline.com_20080421_management01.shtml

shared by Hyeyoung Jang on 19 Jul 12 - No Cached
  • Hospitality is amongst the fastest growing sectors in India today, with domestic and foreign tourism, and increased business travelers fueling this momentum. The sector is known to hold as much promise for the country as the much touted IT, ITeS and manufacturing industries. India’s travel and tourism industry is expected to grow 8.4% this year and 8% annually between now and 2016, according to the World Travel & Tourism Council. Conventionally having stayed away from technology, the hotel industry in India is observing a sea change—in its objective and management’s role towards delivering quality customer service. ‘Service’, related to personalized care and hospitality, is finding a friend in advanced systems and gadgets that enhance the service delivered.
  • Hyeyoung Jang on 19 Jul 12
     
    This article talk about the IT in hospitality industry. They give a example of the India. The number of the India's travel and tourism industry is grow 8.4% in 2008 and will be 8% more increase between now and 2016 according to the World Travel and Tourism Council. The hospitality industry should know the customers needs and the goal of the meeting them should be figured out in such a way that the cost of offering the service(s) does not pinch the company balance sheet i.e. variable costs should not show fluctuations northwards. Marketing gurus would always adhere to one statement for advice: cost need to be justifiable through high probability of ROI. The selection of technology in itself is a vital step. Another global feature that is extremely important is a detailed guest, group and company records. Used with a variety of customized reports, these detailed records allow precise targeting of various marketing efforts to improve occupancy rates, increase yield and enhance strategic planning. Each module should have a customizable report selection menu. The reports should have provision for sorting and filtering of data to enable viewing of the exact information might be required at a moment's notice. A good PMS enables a hospitality enterprise to increase revenue and occupancy, improve guest loyalty and reduce costs by centralizing and streamlining your operations. Forward-thinking properties have already begun building a network infrastructure that offers the flexibility and scalability to adapt to the ever-evolving guest, staff, and property management needs. Ajay Goel, Senior VP - Industry Business, Strategy, Operations, Cisco Systems India & SAARC opined, "These next-generation infrastructures are based on a converged network. They integrate with today's solutions-such as reservation, surveillance, and billing systems-and support the newest applications and technologies. The goal is to take advantage of tomorrow's opportunities while protecting e
Carolina Alfonso

Prospera Hospitality Leverages Centralized Financial Accounting to Achieve Investors' B... - 0 views

www.hotel-online.com/...Apr11_AptechProspera.html

shared by Carolina Alfonso on 28 Feb 12 - No Cached
  • formance
  • Each of our ownership groups has different goals; some want to maximize cash flow; others are focused on value appreciation
  • We work to achieve their individual goals
  • ...10 more annotations...
  • Prospera utilizes the Profitvue web-based enterprise accounting and performance management
  • generates individual and multi-property general ledger, enterprise resource planning, accounts payable, statistics, and financials.  
  • generates
  • We use Profitvue hotel software to create customized financial statements, balance sheets, and to generate daily reports that give us an instant, clear picture of each property
  • Our investors have specific individual reporting mandates, and it is essential our accounting system has the strength and flexibility to provide these
  • Prospera’s corporate team regularly consolidates financials for investors with multiple properties
  • Comparison reporting is an excellent tool to spot best practices and apply them where appropriate to boost investor value,"
  • Cloud-based system adds multi-flag, multi-property accounting flexibility S
  • Prospera opted to run its accounting software as a web-enabled ASP solution
  • Our smaller properties do not have to install the software or be responsible for upgrading or backing it up."  Properties require only a PC and Internet connection to access the accounting package
  • Carolina Alfonso on 28 Feb 12
     
    Prospera Hospitality is a successful hospitality operator with 18 properties under the most recognized flags of the industry. In the article it is said that one of the reasons for this company's success is its centralized accounting software that allows them to create flexible financial reports. As different owners have different goals, thanks to its flexibility they are able to deliver them personalized reports. The software that is use by Prospera is Profitvue web-based enterprise accounting and performance management that generates individual and multi-property general ledger, enterprise resource planning, accounts payable, statistics, and financials. This software also generates side by side reports that help owners compare the performance of each hotel and identify problems or successful practices. Being a cloud based system creates a great number of advantages for this hospitality operator. As some of their properties are small with select services they don't have the resources to support on- property software. The software is installed on bigger properties and in the smaller ones only a PC with internet connection is needed.
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