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vickychapas2021

10 Things You Should Know About Recycling Electronics - 1 views

www.familyhandyman.com/...ow-about-recycling-electronics

technology hospitality Software tech e-waste

shared by vickychapas2021 on 11 Apr 21 - No Cached
  • The Environmental Protection Agency estimates that only 15 to 20 percent of e-waste is recycled,
  • the rest of these electronics go directly into landfills, incinerators and are illegally exported to developing countries
  • These foreign junkyards hire low-wage employees to pick through the few valuable components of often toxic old machines.
  • ...9 more annotations...
  • The E-cycling Central website allows users to select their state and city to find a trusted recycler nearest them.
  • Reuse is always more environmentally sound and will give devices an extra couple years of usability.
  • One is called the e-Stewards Standard for Responsible Recycling and Reuse of Electronic Equipment, known as e-Stewards, and the other is called Responsible Recycling (R2) Practices, known as R2.
  • If an electronics recycler has either one of these certifications they are typically more trustworthy than a recycler without one.
  • With that being said, it is best to recycle your electronics as soon as you know you are done using them.
  • Before you recycle or donate your computer or cell phone, be sure to erase your data from the device.
  • CRT TV’s, printers, cartridges and many large home appliances are dangerous to recycle, so consumers should expect to pay a small fee to recycle them.
  • Don’t throw nickel cadmium batteries in the garbage! They’re made from poisonous materials that can harm the environment—and they also need to be recycled.
  • cell phone batteries can be used to make new smartphones and batteries, while zinc and aluminum from laptops and tablets can be used for metal plates, jewelry, cars or art.
  • vickychapas2021 on 11 Apr 21
     
    This article explains what e-waste is and how we as consumers can help recycle our e-waste. We should recycle products we know we won't use anymore because technology depreciates. When we decide to recycle our e-waste we should ensure that they are reputable. Throwing certain things in the garbage is toxic to the environment and thus we should make sure to recycle all technology instead of tossing it into the landfill.
akallison93

Benefits of cloud computing | Business Queensland - 0 views

www.business.qld.gov.au/...benefits

cloud computing benefits hospitality technology

shared by akallison93 on 24 Jan 21 - No Cached
  • Cloud computing offers your business many benefits. It allows you to set up what is essentially a virtual office to give you the flexibility of connecting to your business anywhere, any time. With the growing number of web-enabled devices used in today's business environment (e.g. smartphones, tablets), access to your data is even easier.
  • Rather than purchasing expensive systems and equipment for your business, you can reduce your costs by using the resources of your cloud computing service provider. You may be able to reduce your operating costs because:the cost of system upgrades, new hardware and software may be included in your contractyou no longer need to pay wages for expert staffyour energy consumption costs may be reducedthere are fewer time delays.
  • Your business can scale up or scale down your operation and storage needs quickly to suit your situation, allowing flexibility as your needs change. Rather than purchasing and installing expensive upgrades yourself, your cloud computer service provider can handle this for you.
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  • Protecting your data and systems is an important part of business continuity planning. Whether you experience a natural disaster, power failure or other crisis, having your data stored in the cloud ensures it is backed up and protected in a secure and safe location.
  • Collaboration in a cloud environment gives your business the ability to communicate and share more easily outside of the traditional methods.
  • Cloud computing allows employees to be more flexible in their work practices. For example, you have the ability to access data from home, on holiday, or via the commute to and from work (providing you have an internet connection).
  • Access to automatic updates for your IT requirements may be included in your service fee. Depending on your cloud computing service provider, your system will regularly be updated with the latest technology.
  • akallison93 on 24 Jan 21
     
    Informative article with many of the advantages of cloud computing. Puts different cloud services into perspective. Keeps in mind, natural disasters, which I found unique and interesting.
teresaricks

How the cloud is disrupting the hospitality industry | Lightspeed HQ - 2 views

www.lightspeedhq.com/...isrupting-hospitality-industry

shared by teresaricks on 30 Aug 18 - No Cached
  • back in the 40
  • first hotel management system Hoteltype
  • n the 90s
  • ...25 more annotations...
  • first database management systems
  • The hospitality industry is at “a tipping point in terms of cloud adoption”, with hoteliers expected to invest 7 – 8% more in cloud technology over the next 2 to 3 years.
  • Cloud-based hotel management systems
  • hosted by the vendor’s server rather than the hotel’s
  • On-site hotel management software, managed by the hotel’s IT team, comes with considerable upfront, maintenance and running costs.
  • business can save 50% with cloud computing solutions
  • limitless flexibility to work with the vendors of their choice
  • cost of general operational and maintenance fees,
  • are part of the package and covered by the vendor
  • personalized experiences with the help of captured customer information
    • npate083
      npate083 on 08 Sep 19
       
      Cloud based services will also allow the hotel to enhance the guest experience. The customer information can be captured and be shared through multiple outlets in a building to ensure the guest is receiving the best service possible.
  • With traditional software, hoteliers are limited to standalone software packages
  • Cloud-based applications are offered as software as a service (SaaS)
    • npate083
      npate083 on 08 Sep 19
       
      Using cloud services will allow businesses to save on hardware installation cost as well as maintenance and running costs. According to this article, businesses can save 50% of their IT costs by switching to cloud services.
  • cloud-based hotel management systems are entirely scalable – they have an unlimited capacity to expand
  • One of the biggest strengths of a cloud-based hotel management system is that it can be easily connected to other software applications, even if these applications don’t share the same provider.
    • npate083
      npate083 on 08 Sep 19
       
      Cloud services allows the flexibility of using multiple vendors of your choice, as opposed to traditional software that did not offer that type of flexibility.
  • The reality is that with traditional hotel management software, adding and removing resources is difficult and hoteliers are essentially stuck with one system until the license expiry date
  • The hospitality industry is at “a tipping point in terms of cloud adoption”, with hoteliers expected to invest 7 – 8% more in cloud technology over the next 2 to 3 years.
  • Cloud-based hotel management systems – or, simply put, systems hosted by the vendor’s server rather than the hotel’s – give hoteliers a single, scalable system from which to manage every aspect of their hotel business.
  • A Frost & Sullivan study showed that business can save 50% with cloud computing solutions. The apparition of the cloud and its flexible pricing has slashed businesses’ hardware costs, making it possible for even hotels with small budgets to run an advanced management system.
  • SaaS hotel management systems are pay-as-you-go. Therefore, rather than having to pay a large sum for a long-term commitment, hoteliers can pay smaller amounts on a regular basis.
  • The cloud lets hoteliers record this data – their preferences, transactions and behavior – every time the customer interacts in some way with their hotel, such as ordering room service, eating in the hotel restaurant or even booking a day trip or spa session.They can then use this data to make suggestions based on the customer’s preferences and behavior.
  • Secondly, they enable you to provide guests with the convenience and seamless experience they expect, even before they step into the hotel reception. Armed with a cloud-based system, you can give your guests the convenience they now expect from a hotel stay, such as booking rooms on their mobile phones or accessing their room from an app, to name a few examples.
  • with traditional hotel management software, adding and removing resources is difficult and hoteliers are essentially stuck with one system until the license expiry date. You’re in a contract, with very little wiggle room.
  • Cloud-based software gives hoteliers a hotel management system that facilitates rather than restricts business operations. Unlike their on-site predecessors, cloud-based hotel management systems are entirely scalable – they have an unlimited capacity to expand. They give hoteliers the agility and freedom to add or remove resources in line with their growth and scale their hotel management systems to the services they offer.
  • One of the biggest strengths of a cloud-based hotel management system is that it can be easily connected to other software applications, even if these applications don’t share the same provider.For hoteliers, this capacity and the possibilities that it brings are revolutionary. They now have limitless flexibility to work with the vendors of their choice and can bundle applications together thereby creating a truly customized management suite that meets their needs.
  • Cloud-based technology gives hoteliers the key to run smart businesses that are in tune with modern-day travelers, and more profitable.
  • klint005 on 30 Aug 18
     
    This article speaks on how cloud systems are changing the hospitality system in a BIG way. Listed below, are how it is doing so successfully: Due to Cloud-based applications being offered by a vendor, there is no expensive hardware to install which makes it a reoccurring system for smaller hotels to be able to use such an advanced system. They allow guests to maneuver through their stay stress-free and giving them the convenience of not having to go down to the front desk to ask questions or make any food orders and these cloud systems record their behavior which allows the hotels to give them suggestions on where to go, what spa treatments to get and of course, what food to order. It also allows hotels to integrate software with various vendors unlike the traditional ones being used. With this, hoteliers can now have a customized management suite to meet all of their needs.
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  • Olivier on 27 Aug 19
     
    Cloud computing software basically allows hotels to build their own IT infrastructure. Cloud computing is expanding in the trends of hospitality software allowing hotelier to operate their hotel management system with just a computer and a web browser wherever they are on real time. In addition one of the main advantage is the ability to integrate other vendor's software into their own opening a seeming less opportunity to work with whoever they desire. Cloud computing allows a cost reduction on the IT department as well as a better connectivity with guest demands and expectations.
  • npate083 on 08 Sep 19
     
    This article summarizes the benefits of switching from a traditional software system to a cloud based system. Some of the benefits the article mentions are low costs, better guest experience, and more flexibility. The article highly suggests that in the next few years most hoteliers will be switching to a cloud based software system.
  • teresaricks on 25 Jan 21
     
    This article gives an in depth look at how cloud computing is enhancing the hospitality industry. It gives a variety of pros to cloud computing and compares cloud computing to traditional or older ways of using servers.
andreae22

My Head in the Clouds (computing): A Case Study of a Restaurant Group Embracing Off-Site Technology | Boston Hospitality Review - 0 views

www.bu.edu/...-embracing-off-site-technology

shared by andreae22 on 25 Jan 21 - No Cached
  • These applications simplify daily tasks for management teams and staff, which will ultimately leverage senior management down to focus on the bigger picture
  • he year was 2010 and the impending doom of PCI Compliance was upon us.  At best, our network infrastructure was dated and we needed to act quickly to get it into compliance.
  • CI Compliance is an almost unachievable set of network security standards designed to protect the credit card giants, who already charge them way too much for credit card processing and continually squeeze them with a plethora of monthly fees. 
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  • The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that ALL companies that accept, process, store or transmit credit card information maintain a secure environment
  • he restaurant industry is also plagued with security breaches, including large chains such as Darden (Cheddar’s), Panera Bread, Sonic and Arby’s.
  • Operators must identify network vulnerabilities, physical vulnerabilities, and operational vulnerabilities that could result in a credit card breach and fix them.  In summary, it is a painfully tedious, extremely time consuming, and potentially expensive process
  • It is extremely important for the security of our guest’s payment information, both for ensuring trust with our customers and limiting legal liabilities
  • PCI DSS is mandatory for any and all businesses that accept credit cards.  It involves a process of assessment, remediation and reporting.
  • egacy systems such as Positouch, Micros, and Aloha are bulkier, more expensive, and much harder to program and implement.
  • In a nutshell, PCI DSS forced us to upgrade our network, which ultimately allowed us to operate in the cloud.  This unintended outcome to a painful requirement was truly a blessing in disguise and it pushed us into new territory – the cloud!
  • IBM defines cloud computing as “the delivery of on-demand computing resources — everything from applications to data centers — over the internet on a pay-for-use basis.”[iii]
  • ud computing can streamline our operation.
  • The first order of business was to get our network infrastructure in order.
  • Toast
  • It is extremely intuitive, like using a smartphone, thus needing very little training. As wireless POS solutions evolve, legacy systems will eventually be phased out.  It is only a matter of time.
  • EMV (Europay, MasterCard and Visa) is another set of regulations that are coming to the restaurant industry. “EMV is a global standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions.”
  • Pay My Tab will fully integrate with our POS system and eliminates many bulky PCI DSS requirements.
  • llows for remote access, allowing management to check flow of service, identify unique reservations, and make sure that waitlists are being managed appropriately. 
  • good communication is key for making sure work-life balance is maintained.
  • An area which the cloud has really saved our restaurants time is with food & beverage inventories. 
  • This has greatly improved productivity and allowed our management teams to communicate in real time.
  • Our office hardware now consists of much less expensive “Network Computers”, which do not require expanded memory for giant program
  • Although the solutions highlighted above create efficiency and save time, they do not serve guests and they don’t understand the art of hospitality
  • It is imperative that as restaurateurs we continue to create a positive environment, embrace innovation, and engage and train our employees in the art and skill of hospitality.
  • andreae22 on 25 Jan 21
     
    This article is an case study on how one restaurant group could use cloud computing to improve their business. By not only securing the companies information by the customers as well. Reviewing the key points of sales interactions between customers and the restaurant, like the POS, Tableside payments, reservations and management assistants.
angelicamm6

https://scholarship.sha.cornell.edu/cgi/viewcontent.cgi?article=1935&context=articles - 1 views

scholarship.sha.cornell.edu/...viewcontent.cgi

technology hospitality Accounting software

shared by angelicamm6 on 16 Oct 19 - No Cached
    • angelicamm6
      angelicamm6 on 16 Oct 19
       
      survey of lodging controllers determined that 76% of lodging operations were using the USALI. But only 11% of these controllers responded that they were following it "completely", while 65% indicated "in most but not all respects". Further, Kwansa and Schmidgall found that only 9% of the respondents' self-rating of their knowledge of the USALI was excellent. Just over 51% indicated "good" while 29% indicated "fair" and the remaining 11% indicated "poor". Finally, these researchers tested the knowledge of their respondents in three specific areas where the USALI had been changed with the 9th revised edition. They found that (1) only 23% understood the proper accounting for preopening expenses, (2) only 35% of the respondents understood the proper accounting for gratuities received for banquet service, while (3) 85% understand the proper accounting for china, glassware, and related types of items.
    • angelicamm6
      angelicamm6 on 16 Oct 19
       
      Uniform System of Accounts for the Lodging Industry (USALI), Uniform System of Accounts for Restaurants (USAR), Uniform System of Financial Reporting for Clubs (USFPC).
    • angelicamm6
      angelicamm6 on 16 Oct 19
       
      A section covering operated departments which reports the revenues and the directly related expenses of profit centers, e.g. the rooms department. * A section displaying the undistributed operating expenses including administrative and general, marketing, property operation and maintenance, and utility expenses. These expenses are not allocated to profit centers though they indirectly benefit them. * A final section includes management fees, fixed charges, and income taxes. These expenses are not allocated to profit center either.
  • ...4 more annotations...
    • angelicamm6
      angelicamm6 on 16 Oct 19
       
      Ittner et al. (1997) report that 36% of the companies in their study used non-financial measures in executive compensation.
    • angelicamm6
      angelicamm6 on 16 Oct 19
       
      Major reasons for professional certification include the following
    • angelicamm6
      angelicamm6 on 16 Oct 19
       
      Tse (1989) surveyed the HFTP membership and found results very similar to Geller et al. (1990).
    • angelicamm6
      angelicamm6 on 16 Oct 19
       
      References
rakiasimon

What Is Cloud Computing and How Does It Work? - Definition & Overview - 0 views

www.moneycrashers.com/cloud-computing-basics

cloud computing overview

shared by rakiasimon on 20 May 19 - No Cached
  • The information is stored on physical servers maintained and controlled by a cloud computing provider, such as Apple in regards to iCloud. As a user, you access your stored information on the cloud via the Internet.
  • By using cloud storage, you don’t have to store the information on your own hard drive. Instead, you can access it from any location and download it onto any device of your choice, including laptops, tablets, or smartphones.
  • Fees are usually set at monthly or yearly rates, depending on the services you are using.
  • ...4 more annotations...
  • Cloud computing provides increased storage, so you won’t have to worry about running out of space on your hard drive.
  • There are numerous cloud computing applications available for free, such as Dropbox, and increasing storage size and memory is affordable. If you need to pay for a cloud computing service, it is paid for incrementally on a monthly or yearly basis.
  • That said, some servers like Google Cloud Connect come with customizable spam filtering, email encryption, and SSL enforcement for secure HTTPS access, among other security measures.
  • Individuals will find Apple’s iCloud particularly useful if you are using Apple devices. Small businesses, in turn, can opt to share documents via Google Cloud Connect, Google Docs, or Dropbox.
  • rakiasimon on 20 May 19
     
    The aim of this article was to explain what cloud computing is and how it works. The article provided a lot of great information and clarity on the concept and how it can be used by individuals and businesses alike. It also provides a list of pros and cons to cloud computing.
  • anonymous on 02 Jun 19
     
    Cloud computing is like the icloud, basically having the data in one location that everyone can have access too. The amazing feature and benefits in my personal opinion is the ability to have an entire department work on a spreadsheet together and have access to the same information.
brianamfernandez10

10 Best Event Management Software: Comparison of Popular Tools - Financesonline.com - 1 views

financesonline.com/tware-comparison-popular-tools

Events technology CRM

shared by brianamfernandez10 on 22 Feb 20 - No Cached
  • In fact, in an etouches research, 42% of subjects admitted technology is challenging to adopt in their business.
  • Tracking tasks for various events can be complicated and confusing. monday.com can help you create a structure and organize these tasks according to priorities, importance, and projects.
  • is an open API, cloud-based platform for event organizers and attendees alike. It lets the former plan and manage events while communicating with their attendees, all from one platform.
  • ...16 more annotations...
  • makes event planning and ticketing as hassle-free as possible. Once you’ve signed up, you can create an event page where tickets can be bought and guest details can be collected.
  • You can create a seating chart for your chosen venue so guests can select their seats before purchasing their tickets. Moreover, you can offer multiple levels of pricing and easily adjust prices as needed.
  • There are tools for event registration, listing design, ticketing, promotion, fundraising, payments, and more.
  • You can even use social media sites, such as Facebook, for your campaign. Progress can be tracked in real-time, so you’re always updated about the event’s attendees and financial details.
  • Gather is a cloud-hosted event management platform that works well for businesses of all sizes that are looking to organize any event
  • it offers a mobile app that allows them to send inquiries, book events anytime through the booking widget, or plan events
  • Cvent is a comprehensive solution that is resilient to the needs of organizers by industry, role, and even as third-party planners. It has a unique tool, among others, for searching the most cost-effective venue for your event.
  • For freelance planners, this ability lends to them a professional look that justifies higher consultation fees.
  • There’s an analytical feature as well to provide you with deep insights into how your event has fared.
  • Bizzabo comes with a mobile app as well to ensure that managers and staff members can do their jobs on the go.
  • Still, it has an international edition for US and UK events and practically anywhere in the world where there is an internet connection. It has a free app for free events like networking nights.
  • It’s a separate offer that lets you sort people by profession, age, region, and other metrics.
  • Eventzilla excels in pre- and on-site registration and ticketing and deserves a rank in our best 10 event management software list for its downright intuitive yet straightforward functionality.
  • Eventzilla also integrates with top-tiered secure payment channels PayPal, Stripe, Braintree, and Authorize.net. And there’s a post-event survey tool to help you measure your success rate, to improve recurring events continuously.
  • You can also customize the UI to your branding, link it to a payment processor including PayPal and major credit cards, and generate e-tickets that can be scanned on-site.
  • analytics, discount codes, mobile access, and multi-currency, and multi-lingual support.
  • brianamfernandez10 on 22 Feb 20
     
    This article goes into detail about the top 10 used Event Management technology systems, going over all of the different features that each offers and how they can be applied to events within the company. It gives a lot of insight on how they are used across the world, and shows that every company big or small has a need to use one of these systems when dealing with events. Without a technological system being incorporated when planing events of any size; it is crucial to have a reliable system to ensure everything is organized.
  • mrodr1084 on 23 Feb 20
     
    This article is extremely insightful and provides the top technological resources used in event management. These systems are important whether you have a small or large company because they track data and is a great organizational tool.
hankunli

Oracle Hospitality Takes Hotel and Vendor Gripes Seriously At Last - Skift - 0 views

skift.com/...endor-gripes-seriously-at-last

shared by hankunli on 18 Jun 20 - No Cached
  • Hotels, especially higher-end hotels with the most ambition, have delivered trenchant criticism of Oracle Hospitality for several years.
  • The tech brand’s flagship product is the property management system, or PMS, which stores a golden record on guest and room inventory data. Oracle’s various property management systems — including Opera, its best-known one — run at close to 40,000 properties.
  • Vukovic rattled off problems, such as expensive licensing fees, expensive integration costs, expensive onboarding of partners, and no phone number for customer support when there’s an integration hiccup.
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  • Hotel tech stacks often can only be as sophisticated as their weakest link, or lowest common denominator, according to the Skift Research report The Hotel Property Management Systems Landscape 2020.
  • To be fair, Oracle inherited many problems when it acquired Micros in 2014.
  • In the past year, Vukovic and other Oracle executives, including new top boss Alex Alt, have been telling hoteliers that they’re listening. They said their teams have been working actively to patch problems and rejigger processes.
  • Oracle Hospitality is aiming to provide the tools to make it easier for developers to connect to its platform without the company’s help. It’s aiming to let hotels activate approved third-party tools without having to engage Oracle. It will give third-party vendors access to a customer support phone line they never had before.
  • Oracle Hospitality’s goal is that, if you, as a hotelier, have a booking engine you’ve built, or co-built with a digital agency, or that you’ve bought off-the-shelf from a vendor, you can easily plug that engine into your property management system’s various data feeds for speedy, real-time connectivity.
  • Much of the conference focused on cloud-based systems, which represent a single-digit percentage of the company’s hotel install base.
  • Some customers have properties and operations in places that don’t yet have pervasive wireless internet, whether because they are on islands, on cruise ships, or in emerging countries, and thus can’t use cloud-based systems. Calin pledged Oracle would maintain service for its premise-based systems.
  • It has made some bets on the cloud. But when customers switch to cloud services, many haven’t been loyal to Oracle and have opted instead for solutions from cloud-first providers.
marble_bird

Conditions Associated with Increased Risk of Fraud A Model for Publicly Traded Restaurant Companies.pdf - 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.
jwilc019

The best guest-facing technology to install at your hotel - SiteMinder - 1 views

www.siteminder.com/...acing-technology-install-hotel

shared by jwilc019 on 20 Sep 20 - No Cached
  • and ease of use when it comes to the technology within their room. For international travellers, this holds especially true.
  • five types of in-room technology your guests will love:
  • 1. High-speed wifi for your hotel guests
  • ...12 more annotations...
  • Guests expect speeds to be on par with what they use at home.
  • It’s also important to make sure wifi is free. Charging a fee for internet is often a big factor in travellers choosing one hotel over another. 2. Hubs of technology to boost your room experience
  • 3. Netflix and YouTube for guest entertainment
  • . Smart technologies for guest comfort and luxury
  • Smart thermostats
  • smart lighting
  • changing the position of the bed, or opening and closing blinds.
  • Mobile door keys
  • Texting services for hotel concierge and services
  • By 2021 the number of people using messaging apps to communicate will reach 2.5 billion.
  • At no point do they have to leave their room or wait on hold during a call.
  • expect virtual reality (VR) to continue its rise with further progress. Guests will be eager to get a feel for potential destinations before they go, to further enhance their decision making.
  • jwilc019 on 20 Sep 20
     
    This article addresses a few essential guest facing technologies that hotels need to be competitive in the modern marketplace. Hotels must provide free hi-speed Wi-Fi and tech hubs/charging stations both in rooms and throughout the property. Guests are seeking more streaming options because this is how the view content at home. Guests feel "high-class" when staying in Smart Rooms and perceive more value, which can justify higher rack rates. Guests appreciate the ability to text a concierge or order services via text. These all speak to the increased level of comfort that people feel in using technology and the need to provide guests with the means to maintain their tech comfort while travelling.
jasdhami95

OPERA Cloud Foundation - Cloud PMS for Economy/Limited Service Hotels - 0 views

www.hospitalitynet.org/...4100676.html

opera Cloud PMS functions basic applications management economy hotels

shared by jasdhami95 on 21 Sep 20 - No Cached
  • Oracle Hospitality has debuted a simplified offering: OPERA Cloud Services Foundation.
  • ideal option for limited-service or economy hotels that need just essential property management functionality.
  • 30 functions covering key aspects of hotel operations, such as guest profiles and room management.
  • ...7 more annotations...
  • also accommodates evolving business scenarios.
  • ou can add more sophisticated capabilities with ease.
  • take advantage of core OPERA Cloud functionality,
  • postpone purchasing additional capabilities
  • ull access to the Oracle Hospitality Integration Platform (OHIP),
  • hoteliers the opportunity to update, broaden and accelerate innovation initiatives.
  • Foundation can readily integrate with enterprise applications, point solutions, or new infrastructure devices, allowing your hotel to evolve and remain at the forefront of innovation.
  • jasdhami95 on 21 Sep 20
     
    My opinion on this article is that it would be beneficial for franchise hotels that are opening during this time to be able to go with a cloud based PMS system from Oracle because it allows owners to see what type of functions are going to be needed as the hotel generates more revenue. It would be interesting to see the difference in cost because Oracle usually has a $5,500 yearly fee for their PMS system that has been in place at thousands of hotel properties today and if franchise standards allow this cloud system, it could be a good idea to cut down on that cost initially and then upgrading as time goes on.
anonymous

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

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

cross sell upsell

shared by anonymous on 12 Sep 20 - No Cached
  • Ancillary bookings represent a significant opportunity for hotels to add revenue while increasing guest engagement. The airline industry adopted the practice of cross-selling and up-selling trip extras more than a decade ago with impactful results.  How can hotels do the same and best complete their guests' travel experience by offering products beyond hotel rooms?
  • This article will share some of the findings of the new white paper, which show that the majority of business travelers surveyed are very interested in purchasing either on-site or off-site extras. The research also identifies business traveler segments and details the preferences on when, where, and what extras business travelers are interested in buying.
  • business travelers are receptive to offers that will make booking their trip easier.
  • ...7 more annotations...
  • Hotels that participated in the white paper cited reasons why they do not currently offer ancillary services. Many talked about resources, including a lack of technology to streamline ancillary offerings for both on-site and off-site trip extras. With many hotels having their staff and management doing multiple jobs, hotel management is reluctant to add another task to management’s plate. This highlights the need for digital ancillary technology to address these valid concerns and reduce such effort while simultaneously scaling the operation.
  • managers are focused on perfecting the on-site process, instead of branching out and offering new services to differentiate their brand from their competitors.
  • Hotels, both large chains and independent boutiques, can learn from other companies in the travel sector who have successfully implemented an ancillary sales strategy.  Airlines were quick to offer ancillary services more than a decade ago. Now these non-core services such as priority booking, baggage fees and car rentals make up an estimated US$28 billion in revenue annually for the top ten airlines. This trained travelers to  purchase travel add-on services during checkout, and at other cross-sell merchandising points such as confirmation emails.
  • ancillaries that increase productivity provide value.
  • Trip extras that increase productivity include wifi access, early check-in/ late check out to continue working between meetings and travel. More than 70% of business traveler respondents indicated they are interested in purchasing more than core hotel products such as on-site dining, retail sundries and transportation options
  • Business travelers surveyed were most interested in purchasing off property local dining (36%), access to fitness/wellness activities (32%), and tickets to live shows/ events (31%), while in destination or on the day of service.
  • An ancillary strategy that is managed and implemented, with constant communication at the individual properties, can offer a consistent guest experience across the brand. Off-site ancillary offerings are opportunities for hotels to access more wallet-share for the business traveler’s trip. Offering car rentals, or restaurant reservations through strategic partnerships and additional loyalty points add revenue streams to the hotel, boosting profits without increasing ADR.
  • anonymous on 12 Sep 20
     
    The article describes how hotels have been late in adopting the cross-selling and up-selling trip extras that airlines have been so successful with over the last decade or so. It also summarizes the results of research done by Phocuswright with iSeatz which found that the majority of business travelers surveyed are interested in purchasing additional on-site extras and off-site extras. The research also found that the hotels that were surveyed cite reasons such as a lack of technology and stretched resources at hotel level as barriers to implementation.
  • anonymous on 12 Sep 20
     
    The author fails to recognize that the e-commerce platforms developed by the airlines over the past decade have been focused on selling unbundled extras, whereas until recently the hotel e-commerce platforms have been very focused on offering the customer bundled packages and only had limited capability for up-selling and cross-selling.
ovila009

Global distribution system (GDS): Complete guide for hotels - SiteMinder - 1 views

www.siteminder.com/...global-distribution-system

shared by ovila009 on 14 Sep 19 - No Cached
  • More than 600,000 travel agents plug into the GDS every day on behalf of companies to book flights, hotels, car rentals and destination activities.
  • Despite the growth of third party online travel agencies (OTAs) like Booking.com and Expedia, the GDS remains the number one way to promote your hotel to the corporate travel market globally.
  • A GDS is a worldwide conduit between travel bookers and suppliers, such as hotels and other accommodation providers.
  • ...62 more annotations...
  • The history of global distribution systems dates back to the 1960s when a more sophisticated method was needed to keep track of flight schedules, availability, and prices
    • anonymous
      anonymous on 14 Sep 19
       
      This is how GDS started back in the day in order to keep track of things however nowadays it is used for so much more.
  • Hoteliers are always looking at ways to increase their reach to attract more customers, increase revenue, and make a profit
    • anonymous
      anonymous on 14 Sep 19
       
      Hence why GDS is so beneficial for hotel companies and other industries.
  • As soon as a reservation is made on the GDS or an online booking website, the channel manager instantly reduces inventory across all channels, including the hotel’s own website, and automatically delivers the reservation details back into the PMS or central reservation system (CRS).
    • anonymous
      anonymous on 14 Sep 19
       
      Reservations are now made quick and easy with this system. It gives customers a pleasant experience.
  • There are several major global distribution systems that house and process the majority of data from hotels, airlines, and other distributors. These include Amadeus, Sabre, Galileo, Worldspan, Apollo, and Pegasus.
    • anonymous
      anonymous on 14 Sep 19
       
      Here we can see some examples of GDSs.
  • The Apollo reservation system was used by United Airlines until 2012, when it switched to SHARES, a system used by its former Continental Airlines subsidiary.
  • Sabre is seen as a pioneer for online travel agencies, corporate booking tools, revenue management, and web and mobile itinerary tools, to name a few.
  • Galileo traces its roots back to 1971 when United Airlines created its first computerised central reservation system
  • created by other airline groups in an attempt to gain market share in the computer reservation system market.
  • Worldspan is a Travelport platform, and is the technology leader in web-based travel eCommerce, offering solutions for all facets of travel business online. As a leading GDS, Worldspan provides travel distribution, technologies and services for thousands of travel companies worldwide, including travel agencies, corporations, travel suppliers and travel websites.
  • Amadeus has the biggest global footprint of any of the GDSs, with a potential reach to millions of guests.
  • Abacus was founded in 1988 and became a leading provider of travel solutions and services in the Asia Pacific region.
  • Pegasus Solutions pioneered the hospitality reservations industry.
  • The best systems will connect your hotel directly to the world’s most prominent GDSs
  • Using a software provider to tap into the GDS saves a lot of money and time.
  • Essentially, the GDS can increase hotel bookings and revenue by placing hotels on more ‘supermarket shelves’ globally.
    • anonymous
      anonymous on 14 Sep 19
       
      It gives hotels the ability to expand and increase the number of customers they get by exposing them more internationally.
  • there are still more bookings being generated through the GDS than through hotel websites.
  • The GDS is indeed a unique and direct marketing tool for your hotel.
  • booked quickly and efficiently.
  • The GDS can help hotel managers uncover new market segments to promote their products to
  • More travel agents are relying on the GDS to find the best places for their clients to stay.
  • the GDS improves search positioning and displays your brand messaging during the search and booking process
  • Hotels generate more revenue through a GDS because it places the hotel’s information, availability and rates in prominent locations where it is easy for travel agents to find.
  • you can market all of your rooms to all of your distribution channels at one time.
  • Your GDS should help you maximise your bookings and increase your revenue
  • the capability for the GDS to integrate completely with your existing PMS, online booking engine and channel manager.
  • help you make the best decisions regarding your marketing strategy and distribution plan.
  • discover and tap into the most powerful and motivated market segments.
  • trial the GDS for a short time and measure results before continuing your subscription.
  • Because cruise travellers rely heavily on travel agents for their trip arrangements, it’s highly likely any hotel bookings will also be made through this channel.
  • A GDS is a worldwide conduit between travel bookers and suppliers, such as hotels and other accommodation providers
  • Cruises tend to rely on more conventional channels like travel agents to reach and convert guests.
  • With the cruise industry currently in a state of growth, it represents a chance for hotels to get a slice of the revenue.
  • It appears travel agents are driving most of this success, with 70% of cruise bookings made via this channel.
  • Cruises do all the hard work to book their guests but often they will arrive a day or two early or depart a day or two after their cruise, booking at hotels for the extra time.
  • Most prominent is your hotel description
  • you eliminate the frustration of signing up with each individual platform, and you can connect to all of the top providers without paying the individual fees.
  • The GDS is often used to tap into the corporate travel market because it has the ability to present hotels, flights, and car rentals in one simple interface which is convenient.
  • Live rates and availability are sent from a hotel’s property management system (PMS) directly to the GDS and online booking websites via a channel manager.
  • What are the major GDS systems?
  • here are several major global distribution systems that house and process the majority of data from hotels, airlines, and other distributors. These include Amadeus, Sabre, Galileo, Worldspan, Apollo, and Pegasus.
  • There are several major global distribution systems that house and process the majority of data from hotels, airlines, and other distributors. These include Amadeus, Sabre, Galileo, Worldspan, Apollo, and Pegasus.
  • Amadeus GDS
  • Sabre GDS
  • Galileo GDS
  • Worldspan GDS
  • Apollo GDS
  • Abacus GDS
  • Pegasus GDS
  • – like the ones mentioned above – so you don’t have to worry about signing up to each one
  • individually.
  • In one fell swoop you can access all the retail and traditional travel agents you want:
  • There are a few specifications which will greatly aid successful GDS connectivity: Being centrally located Being located close to an airport Room capacity of more than 20 rooms Lodgings that are set up for corporate markets and not affected by seasons
  • Here’s a checklist to ensure you’re using the GDS to its full potential:
  • 1. Pooled inventory
  • 2. Commission-free structure
  • 3. Integration capabilities
  • 4. Comprehensive reporting
  • 5. Ability to target specific markets
  • 6. No lengthy contracts
  • 7. Simple and affordable connection
  • Essentially, the GDS can increase hotel bookings and revenue by placing hotels on more ‘supermarket shelves’ globally. This approach is particularly effective at capturing international corporate travellers. You can gain lucrative international corporate business, particularly if you’re near a major airport gateway or close to government or commercial enterprises.
    • yoevelyn
      yoevelyn on 30 Jan 21
       
      This article goes into how to optimize the use of GDS for a hotel operation and the author touched on a point we have discussed in the class before: how to market your local hotel to an international audience. The author suggests that adding your property to a GDS can be a cost-effective way to bring those international business travelers, specially if your hotel is near an airport.
  • The number of bookings generated through a GDS generally outpaces that of direct bookings
  • anonymous on 14 Sep 19
     
    This article goes in depth into GDS. It explains the concept of the GDS is and how eaxctly it works. It also gives examples of some major GDSs. It talks about the benefits of using GDS in hotels.
  • gaston326 on 18 Sep 19
     
    The global distribution system in the hospitality industry is beyond vital in the act of keeping the ball rolling. GDS provides live products and offers to travelers across the globe. Whats really amazing about GDS is that live availability and rates are transferred through a channel manager directly to online booking sites. This allows guests to acquire the best rates the soonest as opposed to waiting to call a hotel or resort to see what they have and at what price.
  • xiaoyuzhang on 18 Sep 20
     
    This article shows us everything we need to know about Hotel GDS. It includes GDS in the hotel industry, GDS work way in travel, seven major GDS systems, the way to access leading GDSs with GDS software, GDS conditions of use, benefits of connecting hotel to the GDS, and how to use the GDS to capture cruise travel bookings at hotel.
cjdearmas

Eventbrite Launches iPad Credit-Card Reader At The Door: A Lost Opport - 1 views

www.fastcompany.com/...r-door-lost-opportunity-square

Technology hospitality hotel software Tech business

shared by cjdearmas on 23 Jul 20 - No Cached
  • cjdearmas on 23 Jul 20
     
    Eventbrite has introduced an iPad credit-card swiping feature that allows merchants to sell on-site tickets, merchandise, drinks and more. The company charges a $0.99 processing fee and each ticket sold takes a 2.5 per cent cut. Eventbrite issued its 50 millionth ticket last month which matches the company raised last May's $50 million in VC funding. 
  • hankunli on 23 Jul 20
     
    Eventbrite, a leading event ticketing organization, has launched a set of hardware in 2012 following its competitors. It focuses on gaining insight in attendee information and offer one holistic picture of the full performance of an event. So Eventbrite knows that adopting Square as a solution does not gives them what expected due to the unopen API. Arguably, establishing their own software gains more comparing to adopting Square, but they are still being "technology agnostic" and waiting for Square to open the API and work with Square.
jackyreis

Price Comparison: 7 Best Event Registration Software - 1 views

whova.com/...tion-software-price-comparison

event registration software price comparison

shared by jackyreis on 28 Jul 20 - No Cached
  • Price Comparison: 7 Best Event Registration Software
  • How to Choose Event Registration Software
  • Key Features
  • ...25 more annotations...
  • Reputation
  • Attendee Engagement
  • Extra tools 
  • Pricing
  • 1. Eventbrite
  • Pros: Eventbrite is a software that is commonly used across industries. It’s a good choice for a small social event or party as well.
  • Cons: This software may be good for event registration but lacks attendee engagement functionalities. The fee has also been steadily increasing. 
  • 2. Whova
  • Pros: This event registration tool may be a good option especially for European events. It is a robust software for large enterprise-level conferences and trade fairs.
  • Cons: If you expect fewer than 50 attendees, or if your event is a wedding or party, Whova may not be a good fit.
  • 3. Xing Events
  • Pros: Whova has almost the lowest per-ticket price in the industry, capped at $5, so it is a great option for higher ticket prices. It also offers a suite of features that significantly boost attendee participation and interactions through the event app. Two birds, one stone (read more: save money on event registration tool & double audience participation).
  • Cons: It offers an app for event check-in, but similar to other traditional brands, its strength may not be in offering modern mobile technology for audience engagement and attendee networking.
  • 4. Brown Paper Tickets
  • Pros: They work well with charity events, performances, and various non-profit / school events.
  • Cons: This software may not be a great choice for mid- or large-scale conferences, and some customers have complained that the reporting is not very robust.
  • 5. Wild Apricot
  • Pros:  It may be affordable for a small community’s regular gatherings. It has various pricing options for different types and sizes of organizations. It is integrated with Whova all-in-one attendee engagement and logistic management system, so you can easily sync your registrant information with Whova.
  • Cons: If you only have an annual event and do not need to manage membership, it may not be a good fit for you.
  • 6. Ticketleap
  • Pros: This event registration software is simple to use and works well with relatively small events and performances.
  • Cons: It doesn’t offer the complex organizational tools of conference registration software, so it might not be a good fit for large, multi-day, multi-track conferences.
  • 7. Constant Contact
  • Pros: Constant Contact easily integrates with other systems (e.g. Whova, Eventbrite) so you can build invitations and registration into your email marketing campaigns.
  • Cons: This is an unnecessary solution if you don’t intend to send many emails to your contacts, as you will still need to be an Eventbrite customer to use the registration feature.
  • jackyreis on 28 Jul 20
     
    This article was able to summarize all the different event registration softwares that are available currently and their pros and cons. It gives you a good idea on what software you would prefer for your company depending on what they have to offer.
ghoafat

Hotel digital transformation in the aftermath of coronavirus | PhocusWire - 1 views

www.phocuswire.com/ransformation-post-coronavirus

shared by ghoafat on 03 Jun 20 - No Cached
  • The hotel industry has experienced its share of crises, including economic downturns, terrorism, and natural disasters, but nothing has shaken the hospitality sector quite like the COVID-19 pandemic
  • While hoteliers make decisions about layoffs and closures, hotel technology companies are grappling with emerging trends that will shape the future of the industry. 
  • In this article, we'll discuss six long-term trends that coronavirus has accelerated. We’ll connect these trends to technologies that are likely to see a surge in popularity in the aftermath. 
  • ...10 more annotations...
  • this time will undoubtedly accelerate the long term trend towards digital transformation in hospitality in a variety of ways that will create a stronger hospitality industry in the medium to long term.
  • n the past, hoteliers might not have given much thought to managing their hotel from afar, but during this crisis, it became evident that technology solutions that employees can access remotely are crucial to keeping operations on track. 
  • loud-based property management systems enable hoteliers to manage their properties entirely off-site, from man
  • aging reservations to setting rates, in contrast to older local-based systems that staff can only access on hotel computers
  • cloud-based guest messaging systems allow hoteliers to communicate with their guests about reservation changes, cancellation policies, and refunds - all without setting foot on property.
  • Rehiring and training staff can be costly and time-consuming, so a savvy hotelier will look to digitization of SOPs via task management software, engineering software, and internal communication platforms to streamline the process.
  • We’ll surely see hotels reaping the benefits of leaner and more efficient operations for years to come when they realize opportunities to cut costs.
  • Hoteliers can reduce their expenses by switching payment processors, cutting vendors who charge high upfront integration fees and more
  • The only way to be this fast is to automate the revenue management process.
  • we anticipate that when the storm passes, we’ll see a rush of innovation and creativity coming from travel technology companies who can adapt to these six emerging trends.
  • ghoafat on 03 Jun 20
     
    This article is interesting because it hits directly at the hotel industry and how the coronavirus has affected them in a negative and positive way, Yes, it has placed a temporary standstill for them and has caused plenty of layoffs and furloughs, but hoteliers are taking this downtime to brainstorm about the future of the hotel industry. How this forced remote work will make them create a more technological approach to their systems in order to ramp up sales and turnovers.
  • anonymous on 05 Jun 20
     
    I read you comment before I read the article and I was SURE there are no positives to this pandemic. However, you are so right! This time off allows companies to prepare for a major comeback. And, allows companies to prepare for where the industry is heading. I appreciate that the article talked about long term trends that COVID-19 will shape for the future of the industry.
irinadolgopolova

Are You Leveraging the Benefits of Hotel PMS Integrations? - 0 views

www.hotelnewsresource.com/article105468.html

technology hospitality PMS Integrations hotel software

shared by irinadolgopolova on 21 Jun 20 - No Cached
  • hotel property management system is not an integrated one. This means, as a standalone application, the Hotel PMS you have adopted is doing a great job by bringing in the much-needed higher degree of automation. But it lacks integration capabilities with a host of operationally imperative third-party hospitality technology solutions like channel manager, online reputation management solutions and many more.
  • #1 – Channel Manager Integration
  • The two-way integration between the Hotel PMS System and the channel manager software helps you update all the OTAs with your rates and inventory in real-time. reservations made on any OTA will reflect in your Hotel PMS in real-time, making sure that there is no discrepancy on the availability of rooms on various channels. Similarly, this integration updates reservation cancellations/modifications on all the sales channels.
  • ...13 more annotations...
  • Hotel PMS that is integrated with online reputation management solution
  • #2 - Reputation Management Solution Integration
  • Benefits- Real-time and automatic update of inventory & rates across multiple OTAs- Increased online visibility of your hotel leads to more booking coming from OTAs- No more overbooking/double booking- Save time
  • #3 - Booking Engine Integration
  • Benefits- Collect personalized feedback from your guest- Analyze guest sentiment, understand their concerns and serve them better- Read and reply to reviews from 150 plus platforms- Effectively increase your online score and rating
  • The Hotel PMS System automatically sends out the email to the guest seeking their feedback on your services. This process helps increase your chances of getting more reviews from your guest and displays latest reviews online. All these help you to generate more bookings.
  • The Hotel PMS Software and Booking Engine integration turns your hotel website into a source of driving more direct bookings. Moreover, see if your Hotel PMS partner can help you with a booking engine that can be integrated with your Facebook page. This helps you get more bookings from your Facebook page.
  • It helps you turn lookers into bookers on your TripAdvisor page. Here too, you can save on hefty OTA commission fees.
  • Benefits- Get more direct bookings- Lower your dependency on OTAs- Save significantly on huge OTA commission- Earn more room revenue and increase your profitability
  • #4 – Revenue Management Integration
  • it is advisable to adopt a hotel property management system that comes integrated with a host of smart and intuitive revenue management tools
  • The PMS captures all types of discounts and refunds given on orders created at the POS in real-time and also captures category-wise POS details, so that sales are posted on appropriate account heads. Moreover, the integration also enables you to accept payments in multiple ways including cash, credit card, debit card, cheque, coupons, via online transfer methods like wallets, etc.
  • Benefits- Ensures efficient and streamlined billing process- Zero billing discrepancies, no loss of revenue- Get insights on performance of all the POS outlets at your hotel
  • irinadolgopolova on 21 Jun 20
     
    Using the PMS that integrates with different operational processes in the hotel can extremely benefit the managers, as they will have more time to work on improving the guests' experience, rather than supervising the operations related to PMS and other hotel departments' interactions. In this article, the different types of PMS integrations are described, along with the benefits of implementing those integrations.
anonymous

Are customers' reviews creating value in the hospitality industry? Exploring the moderating effects of market positioning - ScienceDirect - 0 views

www.sciencedirect.com/...S0268401216301049

Social Media Influence Tripadvisor effects on hotels user generated reviews

shared by anonymous on 25 Aug 20 - No Cached
  • reviews
  • positive effect on hotel revenues
  • outside popular destinations
  • ...39 more annotations...
  • online visibility
  • user-generated reviews
  • 240 small and medium-sized hotels
  • online retailers have thus been gaining increasing market power in influencing customers’ purchases (i.e., Inversini and Masiero, 2014, Silva, 2015, Yen and Tang, 2015) and have improved market transparency and uncertainty for travellers (Toh, Raven, & DeKay, 2011). For this reason, their role is now considered an infomediary (Chen, Yang, & Wang, 2015) because their capability to add value in transactions depends primarily on collecting and processing information about prices, destinations and travellers’ reviews.
  • positive effect on hotel revenue growth
  • outweighed by a negative effect on gross profit margins.
  • managerial implications discuss how hotels should use social media features according to a strategic view based on pursuing the horizontal and vertical differentiation of their services in an attempt to create more economic value from their online visibility and to protect profit margins from the intermediation in their customer relationships.
    • anonymous
      anonymous on 25 Aug 20
       
      MIS idea of how to actually use the information giving from this style of data mining
  • Online reviews provide additional information for travellers to mitigate the uncertainty about the quality of a hotel and about its fit to their needs and preferences on accommodations and destinations.
  • 50,115 user-generated reviews on TripAdvisor,
  • bargaining power
  • Internet can be a value-destroying mechanism for small businesses and can deter hotels’ capacity to defend profit margins
  • empower buyers
  • ncrease the degree of rivalry among firms that sell and distribute their products/services
  • shake up long-lasting reputations through reviews posted by unmonitored influential opinion makers
  • First, online ratings can have a beneficial effect on the occupancy rate of rooms, which is especially important for larger hotels that bear a greater cost of idle capacity, especially in off-peak periods. Second, visibility on social media can allow hotels to apply a price premium thanks to greater economic value generated by market transparency, the reduction of the search costs for both parties involved in the transaction
    • anonymous
      anonymous on 25 Aug 20
       
      Hypothesis broken into 2 parts
  • brand image of hotels,
    • anonymous
      anonymous on 25 Aug 20
       
      Potential here for bad press. Viral videos of mistakes/ misinformation etc.
  • maller hotels with opportunities for market growth in segments in which they have a limited market presence
  • exploring the relationship between online visibility and the creation of economic value in terms of increase of sales and profitability for a panel of 240 Italian small and medium hotels
  • hotels’ market positioning between their online visibility and profitability.
  • we consider only the profitability (the value appropriation achieved through online visibility) and not the increase in sales (the value generation achieved through online visibility) because hotels’ market positioning affects a hotel’s capability to appropriate the economic value brought by online visibility and influences hotels’ ability to negotiate the infomediation fees, which in turn impact hotels’ profitability.
  • social networking (i.e., the opportunity that users have to connect with people with similar travel interests, needs or experience) and knowledge sharing
  • travellers can more easily find persons who share similar travel preferences and needs. In a similar way, a user consulting travellers’ reviews can see if the reviewer is a member of his/her friends’ social networks on other platforms, such as Facebook.
  • beyond allowing hotels to improve their room occupancy rates, online visibility may allow hotels to apply price premiums.
  • respond strategically to online reviews
  • positive relationship between online visibility and sales
  • three different forms.
  • first is the rating assigned by users, who can express their evaluations on a quantitative scale.
  • rates given by users are distributed over the scale.
    • anonymous
      anonymous on 25 Aug 20
       
      Think amazon review
  • number of reviews that users give to hotels
  • we may expect that online visibility on social media – seen as a composite measure of the three above-mentioned elements – can positively impact hotels’ revenue growth
    • anonymous
      anonymous on 25 Aug 20
       
      hypothesis
  • ive million registered users who visit the platform 30 million times per month on average
  • Online visibility has a negative effect on the gross profit margin of a hotel.
  • Consequently, high star-rating hotels apply price premiums for their superior quality and attract less price sensitive customers, who have a higher willingness to pay for quality
  • we expect that less price sensitive customers are willing to pay more for hotels with higher customer ratings on infomediation platforms because they perceive these hotels to be more valuable
  • The relation between online visibility and sales profitability is stronger for hotels with high star-rating.
  • iche tourism appears to offer a more meaningful set of experiences, given the knowledge that tourists’ needs and wants are being met
  • “what makes a tourism destination truly competitive is its ability to increase tourism expenditure, to increasingly attract visitors while providing them with satisfying, memorable experiences, and to do so in a profitable way” (p. 2).
  • However, a number of studies have reported that online user-generated reviews are perceived as more credible than traditional word-of-mouth when they come from persons with similar attitudes and preferences
    • anonymous
      anonymous on 25 Aug 20
       
      Hate this.
  • Hotels in niche destinations are thus better positioned to extract more economic value from online visibility.
  • anonymous on 25 Aug 20
     
    This article analyzes how user-generated ratings have a positive impact on hotels revenue growth. It looks at this through three different methods: one, ratings that the uses provide, two at how those ratings are "distributed over the scale," and three, the number of reviews that hotel receives. The article observes 240 small to mid scale hotels in Italy. Some issues we see come up revolve around the subjectivity of user-generated reviews and how that can positively and negatively affect hotel occupancy and interest. Ultimately, it appears that hotels that already have a high star rating will benefit most from these user-generated ratings because they have a stronger bargaining tool. The other benefactor are small, niche hotels whose increase viability and unique qualities help it in encouraging new tourism and high level experiences.
anonymous

Managed WiFi Hotel Solutions, Benefits, Features | Blueprint RF - 1 views

www.blueprintrf.com/olutions-do-todays-hotels-need

shared by anonymous on 01 Sep 20 - No Cached
  • Yet, adding IoT solutions or hosting large conferences may strain your existing system. Your tech amenities won’t deliver a high return on investment without a stable and secure wireless network.
  • Overseeing your WiFi system is a full-time job. It requires time and financial resources to update infrastructure, replace old equipment, and patch firmware.
  • Fortunately, managed WiFi providers solve your wireless dilemma with tailored recommendations.
  • ...9 more annotations...
  • What does managed WiFi mean? With managed WiFi, you outsource your wireless network to a third-party vendor.
  • Hotel owners switch to a managed WiFi service to preserve time and financial resources while providing a secure and reliable guest WiFi network. Managed solutions offer features, like reporting options and capital planning assistance, that support your current and longterm goals. 
  • In short, your managed WiFi network runs seamlessly in the background. Your IT team isn’t overburdened with infrastructure improvements. And management has access to advanced analytics and reporting features to adjust bandwidth and predict future needs. 
  • Enterprises turn to managed service providers for their “skilled human resources, infrastructure, and industry certifications.”
  • With managed WiFi services, your provider develops a secure wireless network and monitors it 24/7/365. You pay a monthly fee, which helps you avoid unexpected expenses.
  • For many hoteliers, the best part of a managed WiFi service is that you can simply call for help. Your provider remotely evaluates your system. They perform updates, identify hazards, and work with you to troubleshoot minor issues. From afar, a managed WiFi provider can even boost a nearby signal as a temporary patch during a device outage. For challenging problems, a certified technician visits your location and resolves the issue. 
  • The system learns, tracks and adapts to your guest and property needs without forgoing essential security and privacy protocols.
  • top managed WiFi providers also offer options like:  Conference management features handle VLAN configurations, bandwidth shaping, extra ports, and even online scheduling and resource guides for events.  24/7/365 customer support services assist your hotel staff and hotel guests for positive experiences with your high-speed wireless network. 
  • It no longer makes sense to employ a full staff to manage your hotel’s wireless network. Instead, partner with a reputable managed WiFi service provider dedicated to the hospitality industry.
  • anonymous on 01 Sep 20
     
    The author presents the argument that optimum performance of a hotel's wi-fi network is critical to a hote and that the demands of IoT, large conferences and the need to update infrastructure require constant oversight. It is argued that outsourcing the hotel wi-fi network to a managed WiFi provider has many advantages over placing the burden and responsibility on the hotel IT team. In my opinion, the article makes a strong case for engaging a managed WiFi provider. What would have been a useful addition to the article is how hotel's should go about managing and overseeing the provider that they engage.
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