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10 Best E-commerce Practices for Hotels - SmartGuests.com Blog - 1 views

  • With 57% of all hotel bookings made online and 97% of all travelers searching for a place to stay using the Internet, the importance for hotels to adapt best ecommerce practices is more important today more than ever.
  • 1. Use High Res Photos
  • No guest in his or her right mind would book a hotel without seeing photos of the property first. Beautiful photos is a deal breaker when it comes to almost all hotel bookings. Make sure that you use high res photos on your hotel website and make sure that you upload new ones regularly.
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  • 2. Build Your Credibility
  • Let’s face it – there are unscrupulous hotels who don’t care an iota about their guests. They trick their guests, overpromising in terms of their facilities and amenities and delivering sub-par service. This is why a lot of travelers have developed a healthy level of skepticism toward hotels and this is why it is important that you convey credibility on your website.
  • 3. Make It Extremely Easy To Book a Room in Your Hotel
  • 4. Display Customer Service Channels Prominently
  • Best e-commerce practice dictates that you should always be reachable to answer questions from those who want to book a room with your hotel, but need their questions answered first. Not having this information prominently displayed on your site can spell a difference between a non-booking and a successful booking.
  • 5. Make Your Website Easy to Navigate
  • 6. Have a Single Call to Action Per Page
  • 7. Ensure That Your Website is Mobile Friendly
  • 8. Ensure That Your Website is Secure for Financial Transactions
  • The Internet is always under attacked by various security threats and one of the issues that always make people wary is the security of their financial information online. This is why it is important for you to demonstrate that your website can handle financial transactions safely.
  • 9. Always Have an Email Collection Mechanism in Place
  • 10. Use Persuasion Elements
  •  
    With the majority of bookings done through the internet, hotels need to find the best ways to make their websites attractive and engaging for a guest. Here are the ten e-commerce ideas that a hotel should strongly focus on. Number one, high quality images. A guest wants to see your property, and see the amenities that are offered. Provide a clear image of these items to them, so that they are aware of what makes the location great. Two, focus on the location's credibility. and build a reputation of trust for your location. Guests do not like to be fooled, so you must prove that you have integrity to gain business. Three, simplify the booking process. For many people it might not be an issue to navigate through the internet and book a room, but for some people it is. Make sure that the process of booking a room at your sight is very easy, and is comfortable for any guest. Four, integrate customer service channels. If your guests have questions before booking, then try to answer them as fast as possible. This works with the second step of improving credibility. Five, not only should you make the booking process simple, but the navigation process as well. Your layout should be clear, and guests should easily be able to figure out where it is that specific information is found. Six, have only one call to action per page. A call to action is a phrase that when clicked on, creates a certain thing to happen. Like clicking on a button that says "Reserve now", and then being led to a reservation page. It is important to only put one on a page, because several can seem cluttered and confusing. Seven, make the site friendly to cellular devices. Many of the reservations are done last minute, and on a cellular device. Make sure this is easy for your guests to do. Eight, the importance of PCI. There are many threats out there to our finances, and as a place of business it is up to you to secure the financial information of the guests, to avoid any fraud or theft. Nine, optimize o
  •  
    In today's society it is extremely important for the hotel industry to make use of the e-commerce technology. This article focuses on the ten best e-commerce practices. Best practice number one is to use high resolution photos that are a true representation of your hotel. These photos should be frequently changed and of good quality. Secondly, show your guests that they can trust you and your website, by building credibility. E-commerce is designed to make the process better, thus, thirdly, ensure that it is easy to book a room through your website. The fourth best practice is to ensure that you are clear about ways that your customer can reach out to you for information. show that you are accessible. Next, the author mentioned the importance of making your website user friendly and easy to navigate. Additionally, have one call to action button so that customers are not confused as to where to make their selection or booking. Consumers are now using cellphones more to book hotel accommodations, thus, another best practice is to ensure that your website is mobile friendly. Internet security is a concern for consumers. Best practice number eight is to ensure that your website is secure for financial transactions. The ninth best practice is ensure that you make use of email marketing. Your website should have the ability to collect emails from each user. The final best practiced listed in the article is to use marketing techniques like persuasion elements that go the extra mile to convince guests to book their hotel. The ten best practices outlined were listed for hotel operates to analyze their website and identify ways to improve if necessary.
  •  
    My company works specifically in the short term rental space, and I wanted to comment on number 9 and offer some insight and results from properly managing your email list. First and foremost, having an email list increases return customers to your platform or rental site by over 300%. Most companies in this space have spent countless hours creating and defining specific messages to potential guests, which begin from the first time they visit the site, all the way until they checkout. Each time these touch points, through email or other communications, increase the likelihood of the guest to use the rental company, condo association, or hotel year in and year out. A new method of communication that is being used industry wide is through text messaging. I believe that this form of e-commerce will enable faster delivery of information to customers and allow managers to personalize experiences at the hotel or property. This follows along the lines of remote locks and other services that are technology based rather than requiring personnel to execute, greatly reducing overhead costs.
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Technology Innovation Brings Electricity to the Hotel Industry - 0 views

  • Hotels’ total energy consumption costs can be 6 percent of the operating cost and utilities cost continue to rise.
  • While other energy-reducing technologies have produced limited results, cogeneration appears to be a technology that will meet expectations.
  • It’s a technology that has significant corporate investment behind it so we expect to see continued research and development to improve the technology and lower its pricing. 
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  • The primary reason for a change to cogeneration would be financial savings.
  • he current payback for the investment is right at three years and it is expected that timeline to continue to decrease. 
  •  
    This article focuses on the technology innovation regarding electricity in hotels. The article states that the total energy consumption costs for hotels will continue to rise. Luckily, there is an energy saving technology that is worth investing in. Cogeneration, which the article states is known as "combined heat and power (CHP), helps minimize the heat and power from a single fuel source". It takes natural gas and converts it to electricity. This helps the hotel use heat for areas of their operation. This technology supplies 95% of the electricity needed for a standard hotel. Besides helping the hotel's electricity, heat, and power system be more efficient, the CHP helps with financial costs. According to the article, investing in a CHP will bring a payback in about 3 years and this time expected to decrease. This means hotels will receive a return on their investment in a shorter period of time. In my opinion, this is great technology to invest in. It not only helps with financial savings but it is also better for the environment. The business will benefit from it because it helps with operations. Also, consumers will be more likely to want to stay in a hotel with an energy efficient system. It goes hand in hand with the Go Green initiative that has proved to be successful and consumer driven. In all, investing in technology is a risky business. For this specific energy saving technology, I believe it is worth investing in. The cogeneration would be ideal for "hotels with 100 or more rooms, high electric rates, hot water heating system, and high use needs".
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When ERP Goes To The Cloud, You Know Things Are Getting Serious - 1 views

  • ERP — which encompasses financials, human resources, CRM, production and procurement — is the enterprise
  • 27% already were deploying their financials within a private cloud as of last year, and 12% were using public cloud services. Another 28% had their human resources and benefits functions in a private cloud, 22% were using public cloud. Eight percent and five percent were using private and public cloud, respectively, for supply chain and demand planning
  • we are seeing a lot more desire from the end user community to take on cloud ERP as an entirely complete solution, or as discreet bits of functionality
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  • “There is a requirement for integration of data in and data out. Integration and security and things such as a the data model and data cleanliness is also going to be part of the decision criteria.”
  • Systems of differentiation and systems of innovation are more amenable to change, are the more likely candidates for cloud ERP implementation.
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    Enterprise resource planning (ERP) systems were once referred to as manufacturing requirement planning (MRP) and were mostly comprised of supply ordering functions, but now consist of companyy-wide functions, such as finance/accounting, and even human resources compenents.  (Source: http://www.businessdictionary.com/definition/enterprise-resource-planning-ERP.html) This article discusses the leap ERP are taking to cloud-based software and the implications to consider.  This trend means that even small- to medium-sized business can have an ERP software to run their business, instead of (due to high cost associated with it) just large corporations.  Many are finding it beneficial, especially because it's customizable.  A business can choose which components they want or need the most instead of having to take on ones that wouldn't benefit them.  Although it's not as high a cost, it's still a cost, and the writer warns to consider business needs carefully before making the leap, giving extra considerations to the fact going fully Web-based is a security concern for any business. 
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Conditions Associated with Increased Risk of Fraud A Model for Publicly Traded Restaura... - 0 views

shared by marble_bird on 12 Jul 20 - No Cached
  • Many restaurant industry examples provide evidence that as a firm’s internal control structure weakens and deficiencies are found, the opportunity for fraud increases significantly.
  • The main premise of the study tests the application of the fraud triangle framework constructs to publicly traded restaurant companies during the time period of 2002–2014, using proxy variables defined through literature. The proxy variables selected were company size, amount of debt, employee turnover, organizational structure, the Recession, inflation rate, interest rate, executive stock compensation, return on assets, and international sales growth.
  • growing pressures from both passive and active investors to constantly increase their stock value in a competitive world where meeting performance goals are necessary to maintain a competitive edge
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  • 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.
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    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.
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Setting Course for a Post-COVID Era in Hospitality | By Jason Floyd - 0 views

  • harpening their focus on the kinds of technology that can evolve and align their businesses with where the industry is headed. They've been asking the essential question: How will we be doing business in the future?
  • A key step is uncoupling from legacy systems and their limitations in favor of the cloud and SaaS-based solutions
  • unify everything brand-wide during a time when responding quickly to external forces is essential.
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  • more intelligently invest in new technologies that integrate with each other without putting undue pressure on technology teams.
  • so hospitality organizations are better able to share resources and insights no matter where departments and team members happen to be
  • For hotel property management systems, for instance, developments such as mobile reservations, self-managed upgrades, and the use of mobile devices as room keys supports a "high-tech not high-touch" approach to contactless guest experiences.
  • empowering service staff with greater visibility of timelines, schedules, and activities
  • gain greater precision in that process to avoid double-bookings, manage overstays, account for no-shows and other considera
  • tions
  • If the pandemic ended tomorrow, the value of developing a cloud-based platform with this kind of functionality would remain.
  • Consider our present times as a clarion call to hoteliers to create more visibility, deepen connections between teams, increase intelligence, and empower staff to better anticipate and be ready for that change.
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    This article deals with hospitality businesses asking themselves how business will be done in the future and how will stay current or ahead of the curve. It also speaks directly to how to be better prepared for events like COVID moving forward. It states that hospitality businesses need to quit holding on tightly to their old systems and think to the now and beyond by switching to cloud-based systems. It highlights the concept of "high-tech not high-touch", empowering service staff, greater accuracy, and making use of every nook and cranny of a property in the smartest possible ways.
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The high risk of "wait and see" by Daniel Burrus - 1 views

  • The high risk of “wait and see”
  • On the surface, it makes so much sense, doesn’t it? After all, we’re dealing with a national and global economy filled with uncertainties … right?
  • Wait and see certainly seems less risky than sticking our necks out. Right? Wrong.
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  • To wait is too late
  • These days, a wait-and-see strategy carries more risk than the action it postpones. Sometimes, a lot more risk.
  • Motorola, Kodak, and Polaroid all played wait and see with the shift from analog to digital. Blockbuster played wait and see with the move to online video.
  • In the past, you could afford to wait and see. It was harder for competitors to develop and deploy new offerings fast. There was time to watch new developments and then react. It was harder for newcomers, let alone established players, to completely change the game overnight.
  • Today we’re in a time of light-speed transformation. Today, new competitors can emerge rapidly, even from completely different parts of the globe. The barriers to entry are absurdly low.
  • Understand:  transformation is vastly different from mere change.
  • “Wait and see” is often rooted in budget concerns. Let’s say someone suggests your company redesign its website. You shoot down the suggestion:  “No, we already have a website that works just fine.” Designing a new site would costs money, while playing wait and see avoid that new expense … right? Not necessarily.
  • Stop waiting, start doing
  • How can we reinvent retail?” They embraced a transformational mindset to redefine retail and extend their brand.
  • In a world filled with uncertainty, it’s easy to fall into a wait and see mindset. But saying “Not now” bears a cost just as high as saying “Let’s do it!” – if not higher. Remember this:  If you don’t do it, someone else will. They’re doing it right now!
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Hospitality Should Not Remain The Last E-Commerce Industry Regarding Prepayment - 0 views

  • High cancellation rate: According to a recent research by D-EDGE, over 23.5% of the bookings of independent hotels and 35% on-the-books revenue is cancelled before arrival.
  • Fraudulent Bookings: As the booking is not engaging the end user, some hotels may be the victim of unscrupulous visitors booking long-term stays (20 days or more) just to feed their Visa's demands for example
  • High cancellation rate: According to a recent research by D-EDGE, over 23.5% of the bookings of independent hotels and 35% on-the-books revenue is cancelled before arrival.
    • cleon087
       
      This doesn't even give a chance for the hotel to serve the guest and build a relationship with the guest.
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  • Fraudulent Bookings: As the booking is not engaging the end user, some hotels may be the victim of unscrupulous visitors booking long-term stays (20 days or more) just to feed their Visa's demands for example
    • cleon087
       
      You reserve rooms and are expecting this income but then it turns out to be a lie. Especially for a stay that is 20 days. I think it is crucial for hotels to come up with policies especially for extended stays.
  • widened the form of payment accepted.
    • cleon087
       
      This makes it more accessible and welcoming to all guest. If you make the payment process easier, it makes the booking easier and inviting to guest.
  • 59%* of them will book somewhere again if they are able to pay quickly the first time.
  • D-EDGE and PayPal have partnered to enable hoteliers to accept payments quickly on their hotel website, from almost anywhere around the world, in a secure manner.
    • cleon087
       
      Whenever I see that a company accepts pay pal, it always gets me happy and more likely to buy. It is easier to pay and I trust that pay pal is secure.
  • The account creation process is very fast and hoteliers can then start accepting payment instantly on their booking engine from almost anywhere around the world.
  • 267 million active PayPal users around the world and offer them a simple way to pay i
  • rate can increase up to 87.5%** thanks to PayPal solution for mobile.
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    The articles goes over why Hospitality should start making pre-payment the norm in the industry. The examples given are because of high cancellation rates, fraudulent bookings, and cash flow impact.
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    This article discusses the massive amounts of lost revenue experienced by hotels due to their outdated methods of collecting payment. By requesting guests to pay after the duration of their stay they are leaving up to 35% of "on-the-books" revenue to be lost due to cancellations, fraudulent bookings, or invalid credit/debit cards. By allowing guests to pay for their stay at the time of booking they are collecting payment sooner and reduce cancellation risks.
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    The article discusses how hotels are one of the E-Commerce industries where payment is predominately received after the service is provided and not at the time of booking/purchase like most e-commerce businesses. This practice has hindered revenue growth over the years due to fraudulent bookings, long lead times affecting cash flow, and high cancellation rate for reservations. Which is why hotels should aim to further encourage payment at the time of booking, which according to D-EDGE (a cloud-based e-commerce company & booking engine) can be done by increasing the number of payment options, exemplified by their partnership with PayPal, that enables hotels to accept payments fast and securely by integrating the widely used PayPal platform to the hotel's website.
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    This article is about the importance of changing the way payment is done in the hospitality industry. There are negatives to paying after you have completed your stay. It includes people canceling before stays and people booking without any intentions of staying at the hotel.
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Protecting the Hospitality Sector With Security Intelligence - 1 views

  • A decade ago in 2009, hospitality was — by some reports — the most widely attacked industry of all. And while other industries have now surpassed it, a 2019 report by Trustwave still ranks hospitality as the third most-breached industry, accounting for 10% of all breaches.
  • the average hospitality data breach costs $1.99 million to contain, at a cost per record of $123. These high costs are due in part to the time needed to adequately respond to a breach. On average, it takes 200 days to identify a hospitality data breach and a further 75 days to contain it
  • attacks targeting the hospitality industry are mostly aimed at stealing payment card data.
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  • Why Is Hospitality So Hard to Secure?
  • 1. They often have large, complex networks.
  • 2. Customers are onsite — and attackers could be too.
  • 3. Staff churn.
  • 4. Franchising.
  • 5. Third-party risk.
  • Protecting the hospitality industry from cyber threats isn’t an easy job. Security professionals in the industry are tasked with defending highly complex networks with many endpoints against a constant barrage of attacks and a constantly churning workforce. On top of all of that, they have limited security resources to work with.
  • Comprehensive security intelligence helps security teams identify unknown threats to the organization, and make informed decisions about how and where to allocate time and resources for maximum effect.
  • Threat intelligence provides the context analysts need to quickly distinguish between valuable alerts and false positives, drastically improving their ability to respond to genuine cyber threats.
  • Threat intelligence can help security teams drastically reduce the time needed to identify and contain a breach by alerting them the moment stolen assets (e.g., guest or passenger data) are made available for sale via the dark web.
  •  
    (1 of 2) "The hospitality sector has always been a popular target for cyberattacks." This is the first line of this Recorded Future article published in January. The article discusses breaches that happened for both Marriott and British Airways and how this is a regular occurrence in the industry as it is such a big target with so many possible points that can be attacked. While the statistics for the hospitality industry have improved greatly in the last decade, in 2019, they were still accounting for 10% of all breaches. Not only does a breach affect the way an organization operates, but also it also severely effects their bottom-line and takes quite a but of time for them to recover. "According to Ponemon's 2019 Cost of a Data Breach Report, the average hospitality data breach costs $1.99 million to contain, at a cost per record of $123. These high costs are due in part to the time needed to adequately respond to a breach. On average, it takes 200 days to identify a hospitality data breach and a further 75 days to contain it." The article continues by stating that hackers are typically seeking payment card data when compromising the hospitality industry.
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    (2 of 2) The article then discusses the many reasons why it is so difficult for hospitality-oriented companies to secure their assets versus other organizations of similar stature. Some of these reasons include the large, complex networks which are typically publicly accessible and contain many customers in the databases, the fact that customers are always onsite and so are attackers, the high turnover leading to inconsistent training and sharing of credentials, franchisers owning the responsibility of security yet not knowing much about it, and the risk associated with all of the various third parties the hotels do business with. While intelligence has come a very long, "security professionals in the industry are tasked with defending highly complex networks with many endpoints against a constant barrage of attacks and a constantly churning workforce… [AND] they have limited security resources to work with." Comprehensive security intelligence systems are now capable of protecting many aspects of the organization. Some of these updated features include responding rapidly to security incidents, blocking online brand abuse and impersonation, managing third-party risk, reducing breach containment times, and better allocating security resources. Property data security is so important to the hospitality industry. If a business does not take the proper precautions to protect their systems and their customers, then it could lead to a devastating event for the business. While security intelligence has progressed within the last decade, a business needs to make sure that they have chosen a reliable agent to partner with who will produce consistent service. If the business keeps up with their system updates and protections, they should not have to worry about their security system failing.
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The Best HR Practices in the Hospitality Industry - 0 views

  • the quality of your customer services and staff responsiveness has a direct impact on the image and reputation of your hotel
  • Hotel executives need to devise a well-managed and robust talent management strategy that creates a culture of ongoing development, high performance, and organization-wide commitment to providing top-notch service in a practical way.
  • recruiting, hiring, and retaining skilled and experienced employees
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  • Many hotels are incorporating web-based solutions to optimize their key management functions in order for managers, HR executives, and employees to shift their focus to other high value activities.
  • Within just a year, the hotel experienced significant positive results in terms of better alignment and lower turnover.
  • scale, magnitude, duration, and strategic importance
  • hotels are cultivating talent pools internally and preparing their employees to assume leadership roles whenever the time comes.
  • The senior management needs to outline such customer service values of their hotel, and ensure that their staff at all levels has clear understanding of how their individual actions contribute to providing these values.
  • senior executives also need to empower employees to ensure they deliver them in a way that adds values to the customer experience.
  • experience and knowledge must be readily available to employees, and must be proactively delivered to the right person at the right time.
  • they need to reinforce core messages through timely advice, which should be both practical and inspirational.
  • Each employee needs to know this change is going to affect their work, what they are expected during and after the transformation process, on what basis their performance will be measured, and what is the altered definition of success and failure.
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    This article outlines some best practices in the hospitality industry. These include: Talent Mgmt. & High Levels of Customer Centricity, Executing Enterprise-Wide Transformation, and Lessons from Industry Leaders.
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What is Network Redundancy and Why Does It Matter? - 0 views

  • The underlying concept of redundant networks is simple. Without any backup systems in place, all it takes is one point of failure in a network to disrupt or bring down an entire system. Network redundancy is the process of adding additional instances of network devices and lines of communication to help ensure network availability and decrease the risk of failure along the critical data path.
  • All valuable data should be backed up regularly, preferably in another location. A good data center location strategy maps out the best places to replicate and store data so it can be easily accessed in the event that other redundant systems fail and the main network goes down. By using more than one data center, companies can ensure that even if some disaster occurs, they will be able to carry on with minimal disruption.
  • Colocation data centers regularly conduct tests to assess the integrity of their backup systems and redundant networks. They can test different connections by physically disconnecting hardware to make sure failover occurs as anticipated. If things do not go as planned during testing, data center managers then create an after-action report that lists the items they need to fix as a result of the testing. They also create a procedure to follow for both automatic and manual flip over. 
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  • For many companies, their networks are the primary point of contact for delivering products and services to their customers.
  • A network outage, then, whether it's caused by equipment failure, an unexpected cyberattack, or some form of human error, can be devastating for a business. Every moment of system downtime translates into very real financial losses in the form of lost revenue, diminished brand reputation, and missed opportunities.
  • Network redundancy is the process of adding additional instances of network devices and lines of communication to help ensure network availability and decrease the risk of failure along the critical data path.
  • Without any backup systems in place, all it takes is one point of failure in a network to disrupt or bring down an entire system. Redundancy in networks helps to eliminate single points of failure to ensure better network stability and uptime in the face of events that would otherwise take the network offline.
  • fault-tolerant redundant system provides full hardware redundancy, mirroring applications across two or more identical systems that run in tandem.
  • Ideal for any operations in which any amount of downtime is unacceptable
  • A software-based redundant system, high availability uses clusters of servers that monitor one another and have failover protocols in place.
  • there is a brief loss of service while the backup servers boot up applications.
  •  
    Network redundancy is the process of adding network devices and other instances of communication lines to help ensure network availability and reduce the risk of failures on critical data paths. One of the first steps in the network redundancy plan is to create a network strategy that reviews the existing infrastructure. A high-quality hosted data center should have an extensive backup system to ensure that it is always available. All valuable data should be backed up regularly, preferably in another location. By using multiple data centers, companies can ensure that even if certain disasters occur, they will be able to proceed with minimal losses. In addition, a well-maintained UPS system ensures that the server can be switched from power to backup generator power without losing any data or applications.
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    A network outage whether it is due to a cyber attack or simple human error can be devastating to a company. It makes them look very bad, damaging their reputation, and can cost the business millions of dollars. Network Redundancy can help ensure network availability and decrease the risk of failure. There are 2 forms of redundancy. Fault Tolerance where there is a mirrored backup system that takes over with no loss of service, and High Availability where the backup servers take over and restart applications that were running on the failed server.
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7 Benefits of Proximity Marketing & Strategies - 0 views

  • To identify a certain individual’s location, a marketer might choose to use various mobile location technologies that are available in modern smartphones such as Global Positioning System Technology, Cell Phone Triangulation, and so on. To further enhance the potential of proximity marketing, Bluetooth technologies and WiFi technologies are also utilized broadly
  • There are major retailers that can successfully use proximity marketing. For example, consider Macy’s, which can choose to do it. If they send store maps or coupons or offers applicable for their credit card to their customers nearby, it will fall under this proximity marketing. Not only these, but retailers can also attract people to enroll in their rewards or loyalty programs as well.
  • The real estate business is another sector where proximity marketing can be applied in search of creating high value. Those who are realtors can easily find it out who is in need of new homes, office spaces, rentals, etc., and then show him/her advertisements that will be helpful. In this way, both parties get benefitted.
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  • Last but not the least, proximity marketing is absolutely useful for the ones in the travel business. Business owners in the travel industry display information and details about nearby events rewards related to specific destinations, deals, best accommodation options, most attractive local tourist spots, transport hire farms, etc. to people.
  • Proximity marketing can be beneficial for you in lots of ways. For starters, this is a type of marketing that can help you customize the way you interact with your customers and the types of content that you present in front of them.
  • If you are the owner of a mobile application, then you can use proximity marketing strategies and increase your customers’ engagement with your mobile app. By using geo-tracking you can send push notifications according to the location. 
  • Proximity marketing is really cost-effective, considering the fact that here. In this case, you don’t have to advertise your business to all of your customers. 
  • To build the best interactive app which helps the customers more. Moreover,  that improves more engagement and retains a good number of customers.
  • Improving the app engagement proximity marketing advertising aid to give you the certain convection. Through proximity marketing, you can make proper and accurate camping set up according to the situation so that the audience wants to purchase from the particular brand. Retailers can promote and give more enticing offers and discounts via push notifications. 
  • The key aspect of proximity marketing is better customer experience in one to one. The business app sends personalized messages with better offers to the customer.
  • The average CTR can be high on your app more than 80% if the push notification can be set in a perfect way. The more people say on the app the change is more to improve the selling ratio as well. Moreover, the push notification works better than the Google ads and Facebook to improve the CTR. 
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    The chosen article provides an overview of proximity marketing and its benefits for improved consumer satisfaction and loyalty. Particularly, the article suggests that proximity marketing helps to personalize the consumer experience and provide a sense of connectedness with the brand they are purchasing from. Businesses that manage from a specific location may issue coupons or offer discounts applicable to the consumers within a store to enhance purchasing experiences. Proximity marketing is commonly implemented by hospitality organizations, where various on-site events are arranged or individual purchase-based rewards are offered to consumers. Similarly, restaurants engage their consumers in fun activities and games as well as introduce new discounts and promotions while they wait for food. Real-estate businesses also use proximity marketing to create high-value where need and preference-based homes, office spaces, and rentals are offered. However, advertisers need to be aware of consumer preferences to offer useful and effective personalized services. Geo-targeting is an impactful proximity advertising technique where location data is used to tailor offerings as per the identified local trends and behaviors.
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The biggest cyber attacks of 2022 | BCS - 0 views

  • In a year of global inflation and massive rises in energy costs, it should come as no surprise that the cost of a data breach has also reached an all-time high.
  • average total cost of $4.5m
  • Amongst the 550 companies that IBM contacted that had experienced a data breach, a disappointing 83% had experienced more than one in the same period
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  • common attack vector remains credential theft (19%) then phishing (16%), misconfigured cloud (15%) and vulnerabilities in third-party software (13%).
  • Russia has, for many years, attacked Ukrainian infrastructure such as power grids, internet infrastructure and banks. Since the outbreak of physical hostilities, this has extended to systems related to government administration and the military.
  • The Russia-linked cyber gang known as Conti managed to cause major disruption to financial operations throughout Costa Rica in April.
  • Ransomware, while not the overwhelming headline grabber it was a year ago, is still a major and terrifying threat to many companies
  • A group known as Lapsus$ began 2022 with a string of high profile targets including Nvidia, Ubisoft, Samsung and Microsoft. In each case, data was stolen and in many cases leaked online. Their operating model is extortion where access is most often gained through phishing and then they seek out the most sensitive data they can find and steal it. Often, they do not deploy encrypting software at all.
  • Hacking back is where offensive security experts will attempt to compromise attacker’s machines. This can be legally murky as often the attacking machines are compromised third parties.
  • June this year, a former Amazon employee, Paige Thompson, was convicted for her role in the 2019 Capital One breach. While working for Amazon Web Services (AWS), she exploited her knowledge of cloud server vulnerabilities and stole personal information of over 100 million people.
  • cripple Costa Rica’s import/export business.
  • The main attack vectors continue to be credential theft and phishing emails so it is vital to continue to raise awareness through corporate training and public ad campaigns. Finally, the conflict in Ukraine is showing how effective cyber weapons can be in disrupting command and control in a war.
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    To summarize, this article states that, it should not come as a surprise that the cost of a data breach has also increased to an all-time high in a year marked by significant increases in energy prices and worldwide inflation. According to IBM's Cost of Data Breaches Report 2022, the average overall cost is $4.5 million. Additionally, even if ransomware isn't garnering as much attention as it did a year ago, it still poses a serious danger to many businesses. Credential theft and phishing emails are still the major threat vectors, therefore it's critical to keep spreading awareness through public awareness campaigns and business training. Finally, the situation in Ukraine is demonstrating the potency of cyber weapons in sabotaging command and control in a fight.
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Hospitality Industry Benefit from Integrated Communication Platforms in Cloud PBX Marke... - 0 views

  • Cloud-hosted branch exchange (PBX) system is a major technological advancement in business phone system traditionally used by organizations.
  • Integrated communication platforms harboured by cloud PBX have thus become go-to platform for numerous verticals including the BFSI, retail, healthcare, government, and real estate
  • . Ranging from offering high-quality voice and call recording to intelligent call routing, service providers in the cloud PBX market are expanding their portfolio of integrated communication platforms
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  • a cost-effective strategic move to further the scope of their client communication strategies
  • save substantial costs
  • Integration with vendor services also makes the cloud-based PBX an attractive business proposition for various end-use industries.
  • companies must maintain high-speed internet and the advanced networking technology to support that.
  • providers in the cloud PBX market must improve their quality of service (QOS) schemes to leverage the full benefits of cloud hosted VoIP systems for dispersed organizations.
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    Cloud PBX is a great communication tool that is becoming more relevant after the pandemic hit. Cloud PBX is now the go-to platform for different industries including hospitality is able to offer high-quality voice and call recording to an intelligent call routing.
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Travel F&B Provider Standardizes Operations with Cloud-Based POS - 1 views

  • Areas USA, a leading provider of food & beverage and retail services in the travel industry, has selected the MICROS Simphony Enterprise Solution as its standard SaaS, cloud-based point-of-sale system across its United States airport and turnpike operations.
  • which provides the organization with a robust enterprise system, web-based reporting, and business intelligence functionalities with a high level of flexibility. MICROS’s Simphony also seamlessly interfaces to Areas USA’s Corporate Infrastructure systems.
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    Areas USA has selected the MICROS Simphony Enterprise Solution as its standard SaaS, cloud-based point-of-sale system across its United States airport and turnpike operations. It provides the organization with a robust enterprise system, web-based reporting, and business intelligence functionalities with a high level of flexibility. MICROS's Simphony also seamlessly interfaces to Areas USA's Corporate Infrastructure systems. Simphony is centralized, allowing for the entire system to be managed from one application. The solution is also being hosted in one of MICROS's worldwide data centers, removing Areas USA's onsite servers and the responsibility of managing the servers from its internal IT department. MICROS and Areas USA have been partners for years, with the MICROS 9700 Hospitality Management System (HMS) installed at many locations. The sites with the MICROS 9700 HMS will be converted to the MICROS Simphony platform.
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High-Tech Teambuilding: Using Social Media to Help Corporate Bonding | BizBash - 0 views

shared by Sasha Bravo on 18 Jan 13 - No Cached
  • Everyone loves gadgets, and they want to be a part of what’s new and cutting-edge,”
  • now people are adding a technology layer, which allows for more of a learning takeaway on top of the physical bonding.”
  • Wizard’s teambuilding games deliver missions and track scores via a custom app, but also integrate physical challenges and real-world interactions.
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  • online software, which costs $100 a month for as many as 100 players, involves dividing employees into teams that get new mini missions every week, like sharing your favorite lunch spot, or posting your most awkward childhood photo for points.
  • The latest element in high-tech co-worker bonding is all-virtual teambuilding game platforms.
  • sing smartphones and tablets has logistical advantages, too, particularly with large groups.
  • It’s about connecting with people.”
  • hoping to increase engagement and productivity among employees by adding gaming elements to intranet platforms.
  • Jive Gamification module. The software incorporates role-based missions, challenges, status levels, and badges into digital education and training experiences.
  • Experts emphasize, however, that these new virtual teambuilding platforms are meant to augment face-to-face bonding, not replace it
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    This is a very interesting article related to how employees interact with one another. Industry leaders such as Russell Brumfield, CEO of Wizard Studios Global Events, are using gadgets and apps to improve team building with employees on a constant basis, even when the individuals can not be in the same place at the same time. By using this technology, they believe that the process of bonding and learning becomes more interactive and therefore more fun. The article mentions that the addition of these technologies are especially beneficial in motivating "jaded employees." As Ian Fraser mentions, the game element of these apps is attractive to modern day employees; it just makes sense to integrate a technology that everyone is already craving in their daily lives. It is also mentioned the advantages of being able to connect massive amounts of people simultaneously. Lastly, the article touches upon the fact that these technologies are not meant to replace face to face interactions; instead, this is meant to improve upon this by extending the ability to interact and therefore continuously develop teambuilding.
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The HRIS solution - Express Hospitality - 0 views

  • The Human Resource Information System (HRIS) is a software, an online solution for the data entry, data tracking, and data information needs of the Human Resources (HR) and management functions within a business. Normally packaged as a data base, hundreds of companies sell some form of HRIS and every HRIS has different capabilities.
  • New business intelligence technologies offer HR departments the ability to invest in Human Capital Management analytics solutions designed to yield the insights essential for making informed decisions on HR. Business intelligence allows HR departments to become a strategic asset within the organisation.
  • Future of human resources analysis has to be linked to other key performance indicators such as revenue and profitability. HR professionals must understand the organisation’s business plans and the operational, financial and customer-facing goals they are expected to achieve. Then they should associate these goals with the existing workforce metrics. In many cases, HR information is scattered, which leads to non-systematic hiring, training, measurement data which is essential these days, as globalisation, tight labour markets and an aging workforce are causing many businesses to more closely inspect the performance of their largest investment, i.e. the workforce whose compensation represents 60 per cent to 70 per cent of the entire expenses of the organisation. New business intelligence technologies offer HR departments the ability to invest in Human Capital Management analytics solutions designed to yield the insights essential for making informed decisions on HR. Business intelligence allows HR departments to become a strategic asset within the organisation. It helps the HR department make key decisions around recruitment, planning, and budgeting to support the strategic goals. More than ever before, HR professionals are being asked to show how their company’s workforce policies affect the overall business plan. Investing time and money in software solutions is the need of the hour.
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    "The Human Resource Information System (HRIS) is a software, an online solution for the data entry, data tracking, and data information needs of the Human Resources (HR) and management functions within a business. Normally packaged as a data base, hundreds of companies sell some form of HRIS and every HRIS has different capabilities."
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    Using information technology to assist in Human Resources allows easier management of information and benefit plans. Human Resources will be able to measure their contributions easier and become more accountable for their specific work. Many high-end hotels use web based HRIS, which enables a corporate executive team to have access to the data. This also allows team members to access their own data, apply for leaves, or change their residential address. HRIS has great benefits that can be used in the hospitality and tourism industry. Human Resources can be easily scattered and confusing to new hires, so having a better systematic system that is computerized makes information clearer. When much of the hospitality industry is under globalized companies this can benefit companies when they have properties all over the world. Corporate offices can easily access human resources information from another part of the globe at anytime of the day, instead of having to call up a human resource manager who may be in a different time zone. HRIS makes life easier and allows human resources to show policies and business plans in an easier way.
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    The Hospitality industry is known to have very high attrition rates. This makes it all the more critical to have a robust HR information system (HRIS) in place. HRIS has emerged as among the most crucial aspects of hospitality IT. No hospitality management system can be considered complete without an effective HRIS system. An efficient HRIS system manages the recruitment, staff-shifts, time & attendance, and many other aspects of your hospitality HR requirements. It should be able to drill down to history files and provide e-leave application & training management. Immerauf has partnered with Greytip software to bring you one of the industry's best Folklore HR software to suit all your HR needs including a resume bank to store a active database of prospective employees.
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    HRIS solution in hospitality industry is crucial. it makes managers save time and money to pursue the high profitability. this software can collect the employee information or interviewers information and choose the best employee who are suitable for hotel. this solution can compare the employee working experiences like how long this employee works in hospitality industry, what his job was before, what his position was before. using this software, managers can have a clear understanding of the performance of the employee.
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Internet Access Keeping Up with Changing Requirements - 1 views

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    As technologies are evolving at all times, providing a good and reliable high speed Internet for hotel properties has become a challenging task. The ultimate goal of every hotel is to provide exceptional service to guests therefore the expectations for having a fast and reliable Internet are high as well. According to the Internet Access article by Jeremy Rock, there are a few factors that need to be considered when a hotel is planning to partner with an industry solution provider. The first factor is a hotel needs to consider is understanding the providers. As stated in the article, "the key difference between many of the providers come down to the backend solution, technical capabilities and overall support." The second factor is bandwidth management, which discusses is the number of devices that can be attached to the network. It is critical for a property to have the right amount of bandwidth to serve their guests. The next factor regards the usage of Wi-Fi. As we are moving forward with our technologies, more of our systems are connected to wireless network in a hotel and service providers have to ensure a secure storage and access of all of our data. The last key factor is the infrastructure and overall network design to ensure effective coverage throughout the hotel to ensure all of our guests can easily access the network at all designated areas. As we look at all the factors important in providers' selection, whom should we choose? We can either select guest Internet service providers, who provide consistent Internet service in guests rooms which is connected to the PMS for charging purposes. We can also select IPTV solutions providers who "have the ability to combine video and Internet access into single packages" as stated in the article. The last choice would be audiovisual companies that deliver solution between meeting spaces and guest rooms. In my opinion, this article was extremely educating and interesting. When we come to a hotel nowa
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High-tech hotels a hit with geeky guests - CNN.com - 0 views

  • Technology is increasingly becoming a brand differentiator for hotels and chains which want to identify with a certain market,"
  • The type of guest drawn to technology and smart design is an attractive demographic to target,
  • at the Andaz hotels, guests are greeted by a host bearing an iPad, which they can use to check in over a glass of wine in the lobby.
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  • Hotels such as the Las Vegas Aria at CityCenter provide RFID (radio frequency identification) keys that unlock the room door when flashed over a sensor.
  • London's Ecclestone Square Hotel -- as well as featuring in-wall docking and charging points for guest's devices -- provides visitors with an in-room iPod2 to play with, and a library of 3D Blu-rays (and accompanying 3D eyewear) to watch on the room's 46-inch television.
  • Doggrell says that many larger hotel groups, such as Starwood Hotels and Resorts, are increasingly investing in apps for the mobile market, which allow users to find nearby hotels and check their room rates
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    High-tech can really make life easy.
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GDSs Ramp Up Drive to Dominate Hotel Distribution - 0 views

  • According to ASTA’s 2012 Supplier-Travel Agent Relationship report, the percentage of member agencies that use a GDS fell to 72% in 2012, down from a high of 90% in 2005.
  • The GDSs, long travel agents’ preferred method for booking air, are making a big play to position themselves as the dominant channel for hotel bookings.
  • In 2012, only 37% of ASTA members said GDSs were their primary booking method for hotel stays. That’s down from 59% in 2007.
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  • While travel agents’ use of GDSs is declining overall (see sidebar), GDS hotel bookings grew from 49 million in 2010 to 52 million in 2011, and they were expected to reach more than 55 million in 2012, according to John Hach, senior vice president of global travel management at TravelClick, which provides hotels with booking, marketing and business intelligence tools.
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    This article discusses how GDS is declining with Travek agents but GDS bookings within the hotel industry is increasing. GDS allows the hotel industry to reach bigger markets to increase hotel bookings. This article has very good facts it states that in 2012 GDS "fell to 72 % in 2012 , down from a high of 90% in 2005" GDS is great because you reach cover more ground allowing to reach more future clients then traditional target markets.
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Cash Registers vs Point of Sale (POS) Systems - Which is Better? - 1 views

  • The one item in a retail store a business owner can't do without is the cash management system. Whether it's the traditional, electronic cash register or an elaborate computerized point of sale (POS) system, every store needs a machine to process sales.
  • he one item in a retail store a business owner can't do without is the cash management system. Whether it's the traditional, electronic cash register or an elaborate computerized point of sale (POS) system, every store needs a machine to process sales.
  • Benefits of POS Systems More detailed reports Better track inventory Improve accuracy Easily grows with business
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  • Benefits of Cash Registers Low cost for startups Most models easy to use Fewer components Basic functions and reporting
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    The article highlighted states that every business should have a cash management system either POS or cash register. The traditional cash registers will be adopted by smaller business; however, more developed systems should use a POS. The cost could be high but the life expectancy of the system is very long. To make a decision about which POS system to choose, the decision maker needs to do his/her homework to determine the business' needs including how much it will grow in the future. The system will benefit the business to generate detailed reports, track inventory, easy menu updates and others.
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    One reason for the high initial expense involved with a cash register or point of sale system is that a business can expect to get many years of service from the first machine they buy. The life expectancy of a cash register is between 10-15 years, with upgrades around 5-7 years.
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    With the development of technology, there are many softwares and machines help business imporved. The POS is a good system, which chould be used in the hospitality and retail industries. It has the ability to save money, quickly process a customer's transaction and accurately keep records. However, it charged more than installing a cash register. When considering about whcih one need to adopt, it's better for the business do a self analysis first. No matter what kind of technology we use, we need focus on provide personalized and customer focused service.
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    if the owner use the cash register, he can get the money directly. he does not need to take out the money out of the bank when he faces to the emergency situation. also the cash register is more reliable and more real. it does not have high risks of fraud and cheat except the fake money. compare to the POS system, the Pos system is convenient and easy operation. customers only need to swipe the credit/debit card that they can pay for the goods. so the customers do not need to bring much money when they are out of home. it is safe for the customers. nowadays, everywhere can receive the master card and almost everyone has one or more debit/credit card. this behavior promotes the development of POS system. easy to carry and consume make people use this way to buy the goods instead of using the money.
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