Digital technology has revolutionized our way of life, our very existence. With the prevalence of smart phones, the lines between physical and virtual market places are getting blurred due to e-commerce, show-rooming and brick and click. Typically to find a local business, customers use a smart phone, social recommendations, opt-in push notifications and retargeted ads from websites previously visited. Enter Proximity Marketing: It describes location technologies for attracting customers by direct communication on their smart-phones or Bluetooth or GPS enabled devices. It provides the right promotions at the right place and time for the right price. This not only reaches customers, it converts them. Statistics show, ads served in the vicinity of the store tends to get 5X more conversions. With omnichannel browsing, personalized buying patterns of consumers are used along with techniques such as NFC, geofencing, beacons, social checking and retargeting to capture business. Using this 4R principle, Centaream, the new Proximity Marketing mobile marketing platform will start facilitating business for merchants by October 2018 in the U.S.A, Singapore and India. In my opinion, proximity marketing makes sense and should be a big success.

For all businesses, including hospitality businesses, it is essential to have a properly organized accounting system. Every business needs solid financial management to achieve growth without which every business withers and dies. Proper accounting is at the heart of solid financial management. Hospitality accounting includes: preparing a precise collection of month end accounts, a trial balance, budget preparation, business planning, creating financial statements and balance sheets, and payroll. Not only does it enable you to track cash flows and record transactions, but it provides deep insights into the financial status of the business enabling owners to make proactive decisions and improve profits. So to excel in the dynamic hospitality industry seek professional help from expert accounting companies to set up proper accounting to have solid financial management. In my opinion, I believe that to have a successful business you need to have an up to date, accurate way to record your accounting transactions so getting professional help from experts would be wise.

In today's fiercely competitive market adopting technology to grow your hotel business is essential, to avoid facing operational bottlenecks like Hotel A, unlike Hotel B who uses the latest technology to do smart hoteliering. This means getting a cloud based Hotel PMS which can easily integrate with a POS system that is also on the cloud. This translates into having all your hotel-related data under one umbrella in one single system, on one dashboard, giving you automation, accuracy, time and most importantly convenience. So during the stay, guests can order food from the restaurant, use the spa, the gym, the travel desk or the gift shop and pay for everything during checkout without being over or undercharged so both the hotel and guests remain happy and guests have a pleasant guest experience. In my opinion Hotel A needs to upgrade their technology to integrate the cloud PMS with the POS system also on the cloud and add other facilities to supplement revenue for the hotel when room occupancy might be down.

Some argue that the GDS is a fair system. It it does enable travel agents and clients to access travel data, make price comparisons, access special rates and book travel. The big 3 Travelport, Amaadeus, and Sabre do generate billions of dollars of global travel sales for travel providers. The fact is though that the current system is old, dating back to the 60's, has serious flaws, and can be hacked. It is also biased as travel agents bookings are swayed by the airlines they have preferred agreements with, which can skew the equation away from the traveler's best interests. Having 3 Big players with a virtual travel monopoly is not an ideal situation. Carriers are fighting back and airlines are changing strategy. Tension between airlines and the GDS caused by disputes has European airlines exploring models outside the GDS. To make the changes successful they cannot be restricted by outdated systems, old technology or financial burdens.

The cloud will provide the digital infrastructure for the cities of tomorrow, where an estimated 6 billion of the world's population will live by 2045. A commercial aviation cloud will help airlines. A utilities cloud will automatically repair faults in the power grid to ensure a smooth supply of power to homes and businesses. A banking cloud will scan thousands of transactions per second to prevent fraud. The cloud will help society cope with growing volumes of data. High definition video will account for 89% of individual user traffic by 2025, of which image and video content will be for non-entertainment purposes. The cloud will support the emerging artificial intelligence technologies which will be adapted to mobile use, notably the cell phones which overlook PC sales in 2011. Although driverless cars are still a ways off, it will be realized soon, thanks to the power of the cloud.

As the topic suggests information is the key for decision making in any business. Computerized modern information technology should make this process much quicker and more efficient. But, of course, as the old saying goes "Garbage in Garbage out." So it is a combination of the Right People and the Right System that makes a business successful. Computers cannot replace men. Good people along with a good computerized system is necessary. The software used for any hospitality business needs to be tailored to the specific needs of that organization depending on whether they primarily sell just room service or whether they offer a lot of food and beverage service or other services. Good I.T personnel should have good knowledge of all three components: System (flow of each activity), Software (that translate the activity in measurable terms both quantitatively and qualitatively) and Hardware (media through which we can see these activities) To achieve this at least two months of training should be done, of which one month must be on the job training. Once an appropriate mix of competent people and a good system is set up this should reflect in guest satisfaction, staff satisfaction, management satisfaction and owner satisfaction.