Iger planned to pump nearly $1 billion into this venture, called MyMagic+, a sweeping plan to overhaul the digital infrastructure of Disney’s theme parks, which would upend how they operated and connected with consumers. At the core of the project was the MagicBand, an electronic wristband that Iger envisioned guests would use to gain entry to Disney World and access attractions; make purchases at restaurants; and unlock their hotel room doors. It would push the boundaries of experience design and wearable computing, and impact everything from Disney’s retail operations and data-mining capabilities to its hospitality and transportation services.
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The Messy Business Of Reinventing Happiness - 0 views
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Disney World, Parks’ crown jewel, seemed to be losing its luster. According to multiple sources, certain key metrics, including guests’ “intent to return,” were dropping; around half of first-time attendees signaled they likely would not come back because of long lines, high ticket costs, and other park pain points. Simultaneously, the stunningly fast adoption of social media and smartphones threatened the relevance of the parks. If Disney wanted these more tech-oriented generations to love it as much as their parents, who had grown up with fewer entertainment alternatives, had, it would have to embrace change now.
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There were the endless lines for rides, food, and bathrooms; parents juggling maps, hotel keys, baby carriages, and bottles of SPF 75; and kids pulling families on long treks to try to visit every attraction. The park was filled with complications, such as a tiered ticketing system with wonky rules.
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The NGE team had big dreams for the MagicBand. It would need to interact with short- and long-range sensors that would be installed around the park. The short-range sensors would let guests scan their MagicBand at sales terminals in Disney park stores to pay for merchandise, for example, or to seamlessly check in at their hotel.
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The long-range sensors would allow Disney to track guests as they navigated the park. The potential benefits were manifold. By monitoring where crowds were forming, the company could better optimize flow.
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The MagicBand would also collect valuable consumer data.
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The tussle over digital access points,
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The tussle over digital access points
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where customers would use their MagicBands to enter each ride, was typical of the dysfunction between Frog and Imagineering.
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More than 28,000 hotel doors needed their locks replaced in order to connect wirelessly with the MagicBand, even as some 80% of the rooms at Disney’s resorts, on average, were occupied. Two dozen workers spent eight months upgrading 120 doors per day. The company rolled out 6,000 mobile devices to support MyMagic+ in the parks. More than 70,000 cast members got MyMagic+ awareness training, with 15,000 learning service-specific tasks for, say, FastPass+ kiosks or MagicBand merchandising
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Disney World’s physical infrastructure, which was first built in the late 1960s, needed major capital improvements. Two hundred eighty-three park-entry touch points needed to be upgraded. Much of Disney World lacked a Wi-Fi connection, so in order for guests and cast members to take advantage of MyMagic+ and its mobile apps (which would offer a map service and real-time wait times for attractions), the company had to install more than 30 million square feet of Wi-Fi coverage.
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There is no line at the main entrance to the park, where cast members and a row of polished, golden digital access points greet me, and it takes just seconds to stream through with my MagicBand. According to Disney, the MagicBand has cut turnstile transaction time by 30%. Park capacity has also increased.
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“Honestly, it’s not so magical,” one cast member tells me about MyMagic+, echoing a common sentiment I hear from park employees during my visit. “It’s just for your hotel room [door] and paying for things.” When you look closely, there’s less to MyMagic+ than what some on the team had hoped for.
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MyMagic+’s rocky rollout makes the Imagineers’ case for conservatism in the face of technological change seem sound. A slew of problems reared up after launch
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The Imagineers and Frog certainly did disagree during the MyMagic+ development, as did many others, and that disagreement had repercussions and costs. But it ultimately led to a successful conclusion. What Staggs calls “constructive discomfort” is what sophisticated collaboration is all about.
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This article offers a telling account of how Disney developed and implemented the MyMagic+ initiative, providing important insights into how major corporations approach massive tech-related capital investments. Among the most salient takeaways: 1) how Disney recognized that the parks' pain points could be addressed through the public's growing predilection for personal, always-connected; 2) how these massive internal projects can pit different departments against each other, and how sometimes that antagonism can lead to beneficial results; and 3) how a project like MyMagic+ can have a profound positive impact on the company and still be considered by many to have not fulfilled its potential.
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Major Hotel Technology Investment Decisions for Hotels in 2020 - 0 views
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Massive investments into property renovations, new builds, and technology integrations means the hospitality industry is reshaping itself to cater to the modern tech-savvy traveler.
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Investing in tools that guests demand in daily life is a great idea to attract more travelers, deliver quicker services, personalized guest experiences, and make considerable cost savings.
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Mobile guest apps have proven to increase revenues and improve staff efficiency at hotels.
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The Marriott mobile app is accessible globally, allowing access to book rooms in over 3500 properties.
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A very important aspect of mobile tech is providing staff the essential tools to deliver outstanding experiences
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Hotels can actively analyze this huge collection of guest data to understanding and anticipating guest demands for superior experiences.
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This data is also being used by hotels to deliver guests with more personalized experiences.
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New technologies and upgrades will make service delivery easier for staff, while hotel guests will experience a completely new service delivery process.
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Hotels can then use these very valuable user preferences to delight the guests when they visit next with already personalized rooms and local services.
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Technology investment decisions should be outsourced to professional hospitality technology managers who have a better understanding.
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Cloud technology is a brilliant solution for hoteliers to innovate data management, property management, and information technology services.
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Therefore, cloud infrastructure will be one of the most important investment decisions for hotels in the coming year.
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Hotels are actively delivering IoT solutions by offering guests unlimited room control through mobile apps and in-room tablets.
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Technology investments are also bound to make back office operations like revenue, procurement, and maintenance simpler.
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This article outlines 4 major technology investments for hotels to consider in 2020. Those technologies include: mobility tools, A.I., IoT, and cloud integrations.
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Electronic Waste: A Growing Concern in Today's Environment - 0 views
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Over the past two decades, the global market of electrical and electronic equipment (EEE) continues to grow exponentially, while the lifespan of those products becomes shorter and shorter. Therefore, business as well as waste management officials are facing a new challenge, and e-Waste or waste electrical and electronic equipment (WEEE) is receiving considerable amount of attention from policy makers.
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From this we see technology market is progressing to grow however the lifespan of these items lessesns. In turn, this creates a problem for those that work in the waste managemnent sector and calls for politics to get involved.
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e-Waste has raised concerns because many components in these products are toxic and do not biodegrade easily if at all.
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Besides contributing to landfills e-waste can also contain many toxic chemicals. I know that mercury and other harmful chemicals can are common in electronics.
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Most developing countries lack the waste removal infrastructure and technical capacities necessary to ensure the safe disposal of hazardous waste. And e-Waste has been linked to a variety of health problems in these countries, including cancer, neurological and respiratory disorders, and birth defects
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One of the biggest issues is that developing countries do not have the resources or infastructure to properly dispose of e-waste. I know that economics play a huge roll in this issue as 3rd world countries are often used as dumping places for 1st world waste, and these problems are not being addressed because of sytematic limitations. The health concerns are also staggering, they include: cancer, birth defects etc...
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However, even with these regulations, all hazardous materials that are used in newly manufactured products cannot be fully controlled, and management of e-Waste within the supply chain cannot be fully addressed.
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From this we can see that even with additional policies enacted they are simply not enough to address the e-waste issue. In my opinion with a issue this severe more drastic measures should be taken considering the options that have been exacterbated.
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For e-Waste management systems, some of the most successful examples can be found in countries such as Switzerland and the Netherlands [16 D. Sinha-Khetriwal, P. Kraeuchi, and R. Widmer, “Producer responsibility for e-waste management: key issues for consideration—learning from the Swiss experience,” Journal of Environmental Management, vol. 90, no. 1, pp. 153–165, 2009. View at: Publisher Site | Google Scholar See in References ]. Experience of the Swiss e-Waste management system is shown as an example in this paper. Generally, the Swiss e-Waste management system can be viewed as an ERP-based system, where each stakeholder has their own clear definition of role and responsibilities as shown in Table 4.
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Here we see that more sucessful applications have been implemented in Nordic countries. The author goes into further detail about the techniques used by these countries.
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The main point of this scientific report was to demonstrate how e-waste is becoming an issue and why the current structures in place today are simply not enough to overcome this issue. The author goes into detail the common issues with e-waste: hazardous materials being disposed of incorrectly, the side effects e-waste has on human and environmental life, how current infrastructures in 3rd world countries are not able to keep up with the waste load, why certain policies aren't enough and how new techniques such as the ones being applied in Nordic countries may be the answer to the issue. Ultimately the author makes the argument for why it is an issue, how the issue is growing, and presents alternatives on how to better tackle the e-waste issue.
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Must-Have Features of Accounting Software for Hospitality - 0 views
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Hospitality faces unique challenges and has specific requirements, making conventional accounting systems unfit for this industry.
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Accounting software for hospitality, specifically for hotels, needs to be powerful enough to handle the influx of data hotels generate on a daily basis, and then extract insights from these data to make strategic business decisions.
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1. Dashboard and reporting The reporting tool is essential in showcasing daily rates, occupancy levels, seasonal trends.
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2. Automated data integration and consolidation Hotel chains that manage multiple business units require to see the bigger picture via one standardised, integrated report.
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3. Business planning This feature allows managers to compare data through different variables (time, department, cost centre) and different scenarios, thus, enables them to plan for the future in details.
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4. Collaboration tool
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An accounting software that allows simultaneous connection across the organisation can minimise the time and effort needed to send documents back and forth, ensure that only relevant personnel will be involved in the process, correct data/ documents are forwarded to the right managers for approval, and more importantly, guarantee reports are done on-time and complied to industry standards.
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5. Reservations
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The accounting and reservations functions should be tightly integrated to ensure all inflow of data and money is captured whenever a booking is made, and deposits/payments are done.
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The customer's information stored in CRM feature and their spending recorded in the accounting software is also useful for future marketing campaigns.
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7. Food cost control
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8. Customer relationship management (CRM)
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6. Labour scheduling Integrating labour scheduling into accounting software allows managers to control costs and employee expenses better by ensuring minimum staffing, containing overtime hours, and scheduling the best performing staff during the busiest times/ seasons.
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Cloud accounting software not only offers all of the aforementioned features but also contains these four “impossible to ignore” benefits:
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Automation and accuracy:
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Anywhere, anytime access:
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Ease of use:
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Speed and efficiency
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The article states that the hospitality industry has specific requirements in the area of accounting systems and that conventional accounting systems are therefore not appropriate. The author then outlines the 8 key features that a hotel accounting system must have. Finally, the author lists 4 "impossible to ignore" benefits of hosting the accounting system via cloud computing.
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Casino Gets Hacked Through Its Internet-Connected Fish Tank Thermometer - 0 views
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Internet-connected technology, also known as the Internet of Things (IoT), is now part of daily life, with smart assistants like Siri and Alexa
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But of much greater concern, enterprises are unable to secure each and every device on their network, giving cybercriminals hold on their network hostage with just one insecure device.
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There's no better example than Mirai, the botnet malware that knocked the world's biggest and most popular websites offline for few hours over a year ago.
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Nicole Eagan, the CEO of cybersecurity company Darktrace, told attendees at an event in London on Thursday how cybercriminals hacked an unnamed casino through its Internet-connected thermometer in an aquarium in the lobby of the casino.
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he hackers exploited a vulnerability in the thermostat to get a foothold in the network. Once there, they managed to access the high-roller database of gamblers and "then pulled it back across the network, out the thermostat, and up to the cloud."
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compelling reminder that the IoT devices are theoretically vulnerable to being hacked or compromised.
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Manufacturers majorly focus on performance and usability of IoT devices but ignore security measures and encryption mechanisms, which is why they are routinely being hacked.
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Therefore, people can hardly do anything to protect themselves against these kinds of threats, until IoT device manufacturers timely secure and patch every security flaws or loopholes that might be present in their devices.
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The best way you can protect is to connect only necessary devices to the network and place them behind a firewall.
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educate yourself about IoT products.
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I found this article fascinating. It shows that no matter how much security we think we have, there will always be someone who is smart enough to hack you. We bring Smart devices into our homes and businesses to make our lives easier, yet these devices make us vulnerable to cyberattacks. In this article it details how a hacker(s) used a Smart thermostat located inside a fish tank to access and pull sensitive data out of a casino. I'll never look at the fancy aquariums in resorts/restaurants the same.
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50 Facilities Management Tips and Best Practices - Camcode - 0 views
www.camcode.com/...gement-tips-and-best-practices
facilities management tips best practices practices
shared by khadija2050 on 23 Nov 20
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Cut night site lighting. “Depending upon how your site lighting is operated and circuited, you can create an ‘economize mode’ for overnight when the site is at its lowest occupancy. Keep perimeter site lighting on around your property and all entrances and main drives lit.
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Replace older lighting with LEDs. “Memorial Sloan-Kettering Cancer Center chose LEDs to replace existing lighting in a parking garage open 24/7, halving the garage’s power consumption. Meanwhile, Mediapolis Community Schools in Mediapolis, IA, also embarked on a retrofit of LED exterior lighting.
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Implement a sustainable facility design plan. “Sustainable design is more attainable and affordable than it’s ever been, especially when you think in terms of years instead of days and weeks. It’s also worth noting that sustainable design is very well favored among the public, which is an extra incentive for companies interested in reinforcing their reputation as socially responsible and environmentally concerned
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Know the total cost of all facility work done both directly and indirectly. “To the untrained eye, the facilities maintenance arm of a business appears to be a black hole of cost. The costs of these FM services add up, and unless discrepancies arise, that is where most of the business analysis ends. However, facilities maintenance managers, who are privy to all of the nuances that make up eac
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h work order, understand the complexities and overhead involved in this sector of business.
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Consider less obvious improvements that impact facility energy use. “Some energy-related projects will be more or less hidden from the users and primarily pursued to reduce energy demand, such as chiller and fan-unit upgrades. Such projects may end up providing the building users with better temperature control, but this is not the primary goal of the upgrade
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Operational changes such as reducing the hours of HVAC and lighting operation, and changing setback temperatures, which require very little expenditure (if any at all) do not directly affect user experience, but can produce large reductions in electricity loads. In general, working with the building operations team to reduce energy use can produce impressive reductions in loa
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his allows building and facility management professionals to determine whether the cost to improve a particular element of a building or a system in it against the cost savings over the same period. If the cost of an upgrade over its lifetime offers an advantage over the building operational costs it will save, then it’s generally considered a good investmen
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“Finding the right suppliers to maintain your facilities can be difficult and time-consuming. From janitorial services, to groundskeeping and maintenance supplies, ensuring suppliers are providing apples-to-apples quotes, developing contracts with clear service levels, and validating that supplier quality
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“Boilers today can reach efficiencies of up to 96 percent using condensing technology; however, a typical building, including new buildings, uses atmospheric type boilers which, for all intents and purposes, are only slightly more advanced than a science lab Bunsen burner. This technology is reliable and it works, but it is expensive to operate
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An energy audit systematically identifies and develops opportunities to help reduce energy use in an institutional or commercial facility and, as a result, decrease building operating costs. Focusing the audit is imperative for maintenance and engineering managers.
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“Commercial kitchens are high energy users, consuming roughly 2.5 times more energy per square foot than any other commercial space, according to the US Environmental Protection Agency (EPA). Of that, as little as 40% is used in the preparation and storage of food, says the UK’s Carbon Trust; much of the wasted energy is dispersed into the kitchen.
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All commercial buildings are insulated; building codes make it mandatory to insulate up to a certain level. Unfortunately, because most buildings are put up under strict guidance to budgets, they are usually put up with only the minimal amount of insulation
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Develop performance measures for your PM process with an emphasis on measuring the amount of PM that is work completed compared to all other work. Total PM hours should be the highest percentage of all the department’s maintenance work. This goal might seem impossible, but over time, it is very achievable
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“Preventative maintenance is all about planning, plain and simple. Every piece of equipment or machinery at your disposal or under your care should have a schedule of what type of maintenance it requires and when it requires that check-up.
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“Failure modes are defined as “how something fails.” Let’s use a flat/membrane roof to show an example of what a failure mode is. On a flat/membrane roof, one failure mode may be “penetration of roof membrane,” and the causes of this failure mode could be many. Knowing the failure mode(s) of a specific maintainable item such as a membrane roof and its causes can be key to early detection of roof failure (not meeting the intent of the end user) so the repair can be made before it affects an operatio
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“Catch small problems now before they become big ones. Addressing small details can add up to huge improvements in appearance and functionality. Ask your facilities services provider, janitorial company
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You may schedule preventive maintenance based on meter readings on an equipment. However, equipment meters usually do not differentiate between work time and idle time
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Greasing the rack and pinion of a beam saw, for instance, can cause grease and saw dust to solidify inside the gears over time, eventually preventing them from moving. If you’re unsure which tasks are beneficial to each piece of equipment, ask your equipment representative.”
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Having spare parts and supplies around the time of a major preventive maintenance schedule is absolutely critical. Asset management software allows you to check the availability of the spare parts for dates when the work orders are due. This report can help you identify parts that are insufficient for the required work orders in the future. If you know which parts you are falling short on, you can order them in advance from suppliers rather than waiting till re-order limits are reached
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“Appropriate repetition and reinforcement are necessary. The average person is bombarded with more than 300 messages while at work, and multiples of that outside of work, Finney says. Getting a message to land with an audience might take as many as 12 repetitions, in some cases, he says
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Let’s get together: when you’re designing your facilities, design social spaces for your employees. These might be lunch or break rooms, games rooms, gyms, or even community gardens.
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While other managers may work to manage clients or staff, your job is to manage facilities and all that occurs in them. Your corporation’s physical assets are just as important as your human resources, and you are the expert in this field. Whether it’s collating data or contributing to the organization’s bottom line, your input is a valuable part of corporate decision-making
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“Workplace inclusion has to be clearly defined before any initiatives can be pushed forward. One useful definition of an inclusive office is a workplace in which all staff are treated with respect and have equal access to resources and opportunities. Facility managers should build on this high-level description to create an idea of what concepts like equal access, diversity and fairness look like in their own facilities
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Space costs money. Knowing that we are moving towards a working environment consisting of virtual or mobile workers, investing time in developing new workplace designs that can suit these new ways of working while increasing space utilization rates can result in impressive cost savings
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Performing facility maintenance and engineering tasks is like sailing among icebergs. What technicians can’t see will sink them — or their facilities. Thermal imaging technology gives technicians the ability to see the unseen, making it easier to spot failing motors and electrical components,
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This concept is broadly used to describe our attempt to formally identify in-house talent in many of our labor shops. We identify talent through a competitive selection process based on potential vs. skills and promote our selected personnel to the worker and helper level while training them to achieve appropriate full mechanic level with associated certifications/licenses
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This directly leads to the client receiving a more fit-for-purpose solution and ultimately receiving greater value which grows a greater relationship.
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In other words, there has to be a compelling reason based on our mission for why we would submit budgets for anything.” By presenting specific information on how and why you’ve chosen your budget numbers, you can help the C-suite see that your budget is well within reason
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When you automate the work order process, you remove human error associated with it. Essentially, you’re taking the people out of the process and ensuring nothing gets missed or overlooked
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“There are many different software options out there than can aid FMs in organizing and streamlining their everyday tasks. This ranges from software designed to help manage all maintenance activities to logging and tracking facility visitors for security purposes.
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uch smart sensors, operating costs are dramatically reduced, productivity is enhanced, and occupants’ comfort is improved.
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“One of the most exciting features of Facilities Management software is the ability to manage heating and cooling remotely, or set a programmable thermostat to move set temperatures up or down throughout the day. Facilities planners love the ability to analyze and explore energy use from heating and cooling systems
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“Maintenance and facilities administration systems must frequently abide by national and global regulatory requirements. All maintenance administrators face occasional random or audits inspections by regulatory authorities. Maintenance software enables you to prove regulatory conformity and decrease the amount of paperwork and preparation that is needed for an audit.
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KPIs allude to opportunities and errors in your company. Paired with the Internet of Things (IoT) and energy management systems, KPIs can be used to highlight missed maintenance tasks, greater traffic area of your business or problems with machinery
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“Closely monitoring energy and water use to reduce building-operating costs is another benefit. By allowing owners to monitor and analyze the performance of multiple systems—air-conditioning levels, lights on automatic dimmers, water usage
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“A feature that’s gaining a lot of ground is using facial recognition technology to let people in and out of the building. It’s more secure than key fobs or cards, and unlike cards and fobs, you can’t forget your face at home. It’s like batting a triple, or killing three birds with one stone
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You cannot do your job properly without the correct information. If you don’t have proper records on the state of your facilities, you can’t do your job as a facilities manager.
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“A surprising number of facilities managers have no true system in place for managing their space. More than a quarter of everyone interviewed – 28 percent –
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. It may help significantly with compliance with various industry standards, such as HIPAA in the healthcare industry and Sarbanes-Oxley in the financial field. It can help to document best practices for avoiding accidents, or in the worst case scenario,
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This method identifies how critical a piece of equipment or maintenance task is to your business and will ultimately show you where it should land in your prioritization process
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Smartsheet is a spreadsheet that you share with your co-workers, but its features go far beyond Excel. This tool combines the traditional spreadsheet with project management tools, templates, and forms and allows you and your colleagues to access spreadsheets on mobile devices and work on them collaboratively
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The business world is increasingly embracing a larger remote workforce. Offices are used as areas to collaborate, develop, and design new ideas. The day-to-day work can be, and often is, done from home
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“Another possibility for cutting costs, say experts, is not just moving staff around, but moving work around also. This means carefully examining all outsourcing contracts to see if they can be scaled back and the work completed by in-house staff
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“Verify assets from a minimum of two data points, such as the barcode and the item’s serial number.
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After collecting data and developing a maintenance schedule for your assets, you need to plan for the long-term maintenance of your asset inventory
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However good asset management and maintenance planning is, there comes a time when an asset reaches the end of its useful life and should be disposed of.
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“If you’re trying to get a handle of your documents, the first thing you should do is an asset assessment. Detail the condition of all the main equipment and systems, and document those conditions
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Strategic asset management integrates key relationships between planning and delivery activities.
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Maximize your use of vertical cubic footage by placing seasonal products or those that move less frequently in harder-to-reach vertical storage areas
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the article highlights how companies can benefit from sustainable design and gives tips on preventive maintenance
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Learning and performance must not be add-ons to your HRIS - here's why | Engagement & P... - 0 views
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The article advocates for the integration of the vital components of an HRIS system. In other words, a firm must treat some things like learning and performance management as critical and vital to its HR system. As such, the HRIS must integrate these learning and development tools that cover performance management and learning systems into the HR Information Systems. The article goes further to expose the reality that most HRIS managers tend to view LMS and performance development as standalone matters. This of course refers to an era where these things were seen as separate and unpleasant tasks the HR department had to get on with as quickly as possible. However, in today's world, performance management and learning are as essential to HR as any other function. Therefore, it has to be integrated into the system for data to be compiled on a daily basis. Then the author goes on to compare an HRIS which is integrated with many different functions with an LMS which is a separate platform. This highlights the inconvenience, challenges in transferring data, and the overall inefficient method of managing a separate LMS from an HRIS. However, the article points out that there are new HRIS systems that simplify everything - from management to performance to learning to succession planning. The author goes on to recommend that it is better to integrate and make LMS a part of the HRIS system. The obvious benefits are highlighted and this is something that most HRIS managers can easily integrate into their systems with modern apps and other technological tools. The take home point is that HRIS should not stand alone nor include learning and performance measurement as an external component or a necessary evil. Rather, HRIS should integrate learning and performance and gain the right tools to compile data on a daily basis rather than an occasional process.
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What the Marriott Breach Can Teach Us About Cybersecurity in the Tourism & Hospitality ... - 0 views
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Marriott breach that compromised the records of up to 500 million customers. The data breach occurred through the IT company, a third party, that managed the Starwood reservation database.
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Marriott took too long to disclose this breach. Even though the breach was found in September, disclosure did not occur until nearly three months later — and ultimately, the company failed to protect valuable customer information. The company is already the subject of class action lawsuits that could have a severe impact on the organization.
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Over the last 3+ years, the Tourism & Hospitality sector has been very average (if even just a bit below) when it comes to cybersecurity performance as compared to other industries.
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Since 2016, nearly 5% of the tourism & hospitality entities that BitSight tracks (out of a total of almost 2,000) have experienced a publicly disclosed data breach. This is the 4th highest percentage of breach out of the 23 key sectors BitSight monitors, trailing only healthcare, education, and government.
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Though it is often assumed that larger organizations perform better in cybersecurity, the data on Fortune 1000 companies in this industry suggests otherwis
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For example, Fortune 1000 tourism & hospitality companies are performing poorly compared to the sector as a whole when it comes to reducing unnecessary Internet exposures (“Open Ports”).
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For all companies, tourism & hospitality has the 2nd highest percentage of companies with an Open Port grade of D or lower (Education is 1st).
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Ultimately, cyber incidents like the Marriott breach confirm that companies in this industry need to be much more about proactively mitigating the risk posed by their supply chain given the sensitive consumer information they contain in their databases.
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Bitsight examines the 2018 Marriott reservation management database breach. Using the breach as an example, this article shows how poorly the hospitality and tourism industry performs in cybersecurity versus other sectors.
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Why Your Property Management System Should Do More Than Manage Your Property | By Nico... - 0 views
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While there are many systems that play a critical role in the strategic optimization of a hotel's operational structure, the PMS represents the technological heartbeat of any property.
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ortunately, a mobile PMS allows for real-time communication with housekeeping and instant room status updates, leading to an 80% reduction of calls made to the front office, and a 20% increase in housekeeping productivity.
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A mobile PMS is essential for hoteliers to thrive in this new, guest-centric environment.
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the PMS acts as a centralized hub of vital information relating to revenue, guest engagement, staff efficiencies, and reporting.
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a cloud-based PMS which offers easy integration through an open API will allow a hotel to grow, stay ahead of market trends, and connect to best-of-breed solutions 一 without the expensive and time-consuming upgrade costs of legacy systems.
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A PMS should be able to optimize profits with built-in capabilities that include detailed reporting and financials for better business decisions, centralized guest stay data to tailor guest experiences, revenue management to maximize ADR and RevPAR,
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This article explains the importance of what a property management system should do. It is said that the PMS is the core of any hospitality company. The PMS gathers information about revenue, guests, staff, and any reporting necessary. Although the PMS is known to manage your company, it should also help with customer service and generate more revenue. I's important that todays PMS systems are available to all on their mobile devices, making it easier for guests. The PMS is also something that needs to be used for both front and back of the house functions, this includes house keeping and human resources. Lastly, this system should be compatible to all other forms of technology. I believe the PMS serves many functions to help ensure a company succeeds. -
The article is about PMS acts as a centralized hub of vital information relating to revenue, guest engagement, staff efficiencies, and reporting. -
Managing a successful hotel is not easy 一 Hoteliers are tasked with enhancing the guest experience, empowering their staff, and increasing their property's bottom line. It Should Be Mobile-First Modern travelers are going mobile, and mobility is «flattening» the hospitality marketplace. A mobile-first PMS can streamline various touchpoints in the guest journey, such as reducing long lines to the front desk. It Should Play Well With Others No technological platform is an island, and hotels cannot be run on a single siloed technological solution. It Should Optimize Revenue Traditionally, the role of the PMS was to help hoteliers manage their hotel's operational structure. However, today's PMS can do so much more than that.
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Best 10 Upselling Software 2020 | Find Reviews, Pricing, Buying Guide - 0 views
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This article is by hotel tech report which is a company that provides reviews of various hospitality technology products and allows users to compare an contrast a variety of software to determine which is best for their particular business. - ...2 more comments...
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This article takes a look at a segment of revenue management software--upselling software--with an emphasis on how this type of software can increase a hotels RevPar, or revenue per available room. When used correctly, the article states that the software will provide more incremental revenue and better guest satisfaction.
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This is achieved by getting the right guest to spend more money at the right time, by offering valuable services at the right time, and at the right price. Hotels can add personalized offers to the guest. It also allows hotels to anticipate special requests from guests.
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The most important features of upselling software are as follows: --PMS integration (automated connection with database) --Exclusion lists (ability to exclude some guests from certain offers) --Cross-device platform (guests can redeem offers from various devices) --Customizable CMS (staff can customize and test offers) --Multi-language --Email automation for offers --Data security protections compliant
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Hotels that wish to invest in this software can expect 25% increase in incremental revenue. Implementation takes from 7-30 days depending on the PMS being used by the hotel, which causes a variance.
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5 best recycling practices from around the world | BBVA - 1 views
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one of the key strategies that countries need to embrace is the so-called “three Rs” approach: Reduce, Reuse and Recycle, to ensure that waste generation and management is as sustainable as possible.
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finding new uses to a large portion of the waste generated each year.
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need to recycle
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Recycling yields two key advantages: First, it allows reusing substantial amounts of waste that would otherwise end up in landfills or spoiling natural spaces; Second, it allows generating raw materials and avoid wasting materials and natural resources.
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Several countries have managed to increase their recycling rates in recent years by investing in technology, and awareness campaigns and introducing policies aimed at encouraging citizens and businesses to recycle more and better.
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generate enough electricity to power 250,000 households, and contribute to dramatically reduce waste and emissions.
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Northern European countries are pioneers in the sustainable processing of urban and industrial waste.
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Sweden’s become extremely successful at sorting and reusing waste, thanks to the firm commitment of its population, and everyone’s involvement in the process from their own households.
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Neighbors are responsible for sorting, treating and segregating their household waste, and then complying with the strict and scheduled collection calendar.
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One of the countries that have best understood the importance of the circular economy is Switzerland.
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the country has become a pioneer in the recycling of organic waste, which is used to make compost.
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one third of the food created in the world is spoiled or thrown away
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also means a high cost in terms of greenhouse gas emissions.
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The organic waste collected is used to produce biogas to fuel power plants, crop fertilizers and livestock feed.
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recycling rate has increased from 5% to 64%, one of the highest in Europe and expects to keep improving to become one of the world’s leading nations in this field.
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The article is about how United Nations set up a goal to foster sustainable and environmentally-responsible consumption and productions patterns. The key to reach this goal for the countries need to be focused on Reduce, Reuse and Recycle. The article specifically explain how Sweden, Japan, Switzerland, South Korea and Wales are implementing strategies to reach that goal.
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Hotel Technology Is Highly Important Now | .TR - 0 views
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COVID-19 FORCES BUSINESSES TO INVEST IN HOTEL TECHNOLOGY
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A health crisis that quickly turned into an economic crisis, COVID-19 has a particularly strong impact on tourism and the hotel industry. After the pandemic, hotels will need to find new techniques to limit their losses and make up for lost profits. Innovative hotel technology and investments in customer relations may be of great help.
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Normally, 98% of visitors leave a hotel site without making a reservation
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Booking Options Remains Available
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Offering flexible terms and conditions in their booking engine or the possibility of cancelling their stay by leaving a deposit will reassure the traveler and ensure the hotel's cash flow.
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Thanks to a price comparison widget on the hotel's website (vs. the price on OTAs), the visitor will be able to see live that he or she will get a better deal by booking on the hotel's official website.
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Live Chat
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Chat hotel technology is a good communication channel on websites.
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Although there are robotic chats, having a human on the other side of the screen becomes almost essential right now as visitors are looking for real contact.
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A live chat will make the booking process more fluid and personalized.
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During this rather special period, it will also be an effective means of reassuring customers about the hygiene measures and precautions put in place when business resumes.
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Social Networks
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During this period of crisis, social networks are useful to show that the hotel's teams are ready for the resumption of activity by showing, for example, the "backstage". It could also be a good idea to show that life is resuming post-confinement, by presenting local mini-guide highlighting activities in the surrounding area.
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Means of Payment
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Offering flexible means of payment allows an optimization of the entire purchasing process: combining two means of payment (gift card and credit card), PayPal... The more numerous and flexible they are, the less likely visitors will abandon their shopping basket.
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Setting up a Call Center
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Setting up a call center makes it possible to delegate incoming calls and maximize reservations by putting customer relations at the forefront. The DNA of the hotel business is the "service", and today's travelers are looking for quality support from the moment they make a reservation.
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Emails, Emails
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Emailing is an excellent way to keep in touch with the traveler, as long as it is not abused.
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Emailing is a good way to communicate about a destination by offering packages or gift boxes including accommodation and activities. For example, a city hotel can offer a package of "3 nights stay and 3 visits to the historical monuments of the city".
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During confinement, it is essential to build customer loyalty and to advise customers in order to maintain a bond
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When business resumes, it will be necessary to prioritize customer relations. Hotel technology will be the tools that will enable the offer to be personalized and make a difference to over-solicited travelers. The season will be short this summer for hoteliers, who will have to redouble their efforts to attract travelers.
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Why Hospitality Leaders Should Reevaluate Their Information Security Policies to Regain... - 0 views
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Nearly one in three (31%) hospitality companies said they do not have a policy in place for storing and disposing of confidential information on end-of-life electronic devices, and 19% don’t have a policy for storing or disposing of confidential paper documents.
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With nearly a quarter (23%) of consumers reporting they would take their business elsewhere following a data breach, hotels
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More than two in five (41%) hospitality businesses say they believe it’s likely their organization will experience a data breach in the next five years, and 44% believe the source of that breach will be human error or accidental loss by an employee or insider.
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More than half of Americans (60%) believe that their personal data and information is less safe and secure than it was 10 years ago, which may be why nearly all (93%) hotel owners feel like they need to do more to show employees and consumers how they are protecting personal information.
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Almost a third of hospitality companies have reported that they do not have a policy in place for storing and disposing of confidential information. In that same group another 19% reported that they don't have policy for storing or disposing of confidential paper documents. This is a alarming because most hospitality companies have to store consumer information. Nearly 23% of consumers reported they would take their business elsewhere following a data breach which should be a walk up call in the industry to improve their current security. What is even more alarming 41% of hospitality businesses say they believe that their organization will experience some form of data breach in the next five years. -
The security of data in the hospitality industry is now more and more important. Although some hotel owners may not keeping it in mind as an important issue, a large percentage of hotel guests feel concerned about it. This discrepancy should be a wake-up call for hoteliers. Organizations can do three things to minimize risk: update security policies, train employees better, and regaining customer trust. Current statistics provided evidence that these three aspects are all important and can be improved.
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Sun, Sand and Cyber: Does the Hospitality Industry Need to Invest in Cybersecurity Now?... - 0 views
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To ensure businesses are in the best possible position to compete during and long after the Coronavirus pandemic is over, both customers and employees need to be educated on the security measures on offer to feel comforted in this brave new business climate.
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For businesses to feel empowered against today’s many challenges, a consistent approach to risk management is absolutely crucial. A CISO with the authority to carry out real change and impart strong governance across the business would be hugely valuable.
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An entity to regulate and update cyber security in order to keep all information safe would be very helpful. But it could be argued that an organization that has access to all systems could pose a larger risk to cyber security than it would negate.
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These burdens come into sharper focus when you consider the digital environment in which hotels are operating. Individual hotels are often connected to the organization’s national or international network, meaning only one hotel has to be breached before the entire company is at risk of hemorrhaging huge volumes of its data.
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This is a good example of why every hotel needs to be constantly updating and on alert for cyber attacks because if one hotel server is compromised the entire national system is at risk.
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Most crucially, a cybersecurity strategy must include a solid plan for Business Continuity and Disaster Recovery in order to prepare for any worst-case scenarios. In the era of COVID-19, incidents of the worst kind are fast emerging and businesses deserve a fighting chance to succeed.
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The root of this cyber crisis lies in the way hotels are hampered by disparate legacy systems and out-of-date software where breaches are rife for the taking, particularly on hotels’ Point of Sale (POS) systems and other external vendors. Adding to this, hotels often outsource their customer IT connectivity but unfortunately forget to consistently monitor and audit suppliers’ security measures.
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Today, the systems used for various functions in a hotel’s back and front operations are manned by employees who are not yet well-equipped to pick up on and counter large-scale cyber-attacks until it’s too late.
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Simply put, hotels are not focusing enough on these attacks and their security systems are made primarily to identify and ongoing attack rather than preemptively stop them.
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Mobile phones, tables and laptops connected to open networks become a hunting ground for hackers to harvest banking details through card payments.
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Not only is personal information stored but guests use these open networks for many different things allow hackers a direct link to the guests devices as well.
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Worth billions of pounds, the hospitality industry is a perfect victim for cyber-criminals. Its make-up of luxury resorts and hotels alongside huge volumes of high net-worth individuals has fast become prey for hacker
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While financial services and the public sector have been forced to endure an endless stream of cybercrime, the hospitality industry has also become a prime contender for hackers in the wake of its rich data-base.
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The constant influx of new information makes hospitality company databases prime targets for hackers.
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No matter the size of the business, inefficient cyber support diverts crucial time from business activities and relationships with customers.
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Not allocating for proper cybersecurity not only puts you at risk but takes away from time you spend on business when you are dealing with potential or ongoing threats that would have been better addressed by a proper cyber security system.
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With global business fighting relentlessly to survive against the chaotic threat of the Coronavirus, all industries are exposed to criminal cyber-threats, and so the security of highly sensitive data must be handled appropriately.
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In unprecedented times like we are currently going through things like cybersecurity will be put on the back burner in order to deal with issues at hand but this can create environments for cyber attacks.
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British Airways and Marriott International are two major hospitality companies to be victims of high-profile breaches in recent memory. They serve as a stark reminder of the heavy costs faced when the safety of customers’ data is compromised.
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HandheldWireless_POSRest.pdf - 0 views
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As surprising as it may seem, handheld ordering systems have been around for over 20 years.
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Handheld wireless POS systems are a portable version of a POS system which is defined as the time and place in which a transaction is made. Point of sale computer systems include: cash registers, optical scanners, magnetic card readers, and special terminals.
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hose minutes equate to greater table turnover and more profits. It is these benefits which lead to cost savings and return on investment for the purchase of a handheld POS system.
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the largest problem and reason that every restaurant doesn’t im plement a handheld POS system is cost. Even though the costs are starting to come down, it is still a pricey investment especially for smaller restaurants.
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This market provides a large opportunity for the handheld wireless POS system in today’s customer satisfaction driven industry, especially since the once costly systems are finally poised to make the transition from niche product to mainstream acceptance
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These benefits lead to cost savings and return on investment for the pur chase of a handheld POS system. Customers are the reasons restaurants are in business, and the time saved by using a handheld device, rather than waiting in line to place an order on a traditional POS system that averages over four min utes per order, can be used to better serve the guests.
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Handhelds can also ensure accuracy by prompting servers with cooking temperatures and salad dressing choices and also offering up-selling suggestions.
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One option for the handheld devices is a portable receipt printer that can allow servers to print out checks instantly without waiting in line at the POS station. Customers can also pay immediately if the handheld POS systems also offer credit card payment capability with a swipe area built into the unit.
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This tech nology can also be used to inform a server when an item has been 86’d (no lon ger available) enabling the customer to make another selection immediately rather than finding out minutes later having the guest be even more disap pointed.
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a key advantage to what handheld POS system a restaurant purchases will be what ports it has to hook up bar-code readers, cash drawers, voice-over IP capability, printers, fingerprint recognition and other emerging technologies
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Some handhelds can even be used for back office inventory control before the restaurant opens by de-coupling software applications onto the interface (On Technology, 2004). Other benefits will be handheld systems that are easy to upgrade and service.
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While many of the drawbacks and problems are only perceived or occur only in early models, some are still around today and just emerging.
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Handheld wireless Point of Sale (POS) systems are a portable version of a POS system, which is defined as the time and place in which a transaction is made. Point of sale computer systems include cash registers, optical scanners, magnetic card readers, and special terminals.
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Restaurants need to budget for installation costs, training costs, printing materials, system supplies, electricity, power protec tion devices, software upgrades, modifications and the costs of supporting the systems/improvements (Scavone, 2003). These costs add up quickly.
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Also, needing complex and error-prone configuration actions, like configuring security settings, is another security drawback
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RevPASH, or revenue per available seat-hour, is the mathematical way to see the value of purchasing a handheld wireless POS system.
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Although restaurant problems such as reservation issues cannot be solved with easier more efficient POS systems, such issues of duration management can.
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operators could realize a 9% increase in revenue if managers “cut dining time from one hour to 55 minutes, without making customers feel rushed.”
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If the cause of a restaurant’s long table time and low turnover is due to the time it takes servers to get the order from the guest to the kitchen and also the time is takes a guest to close out a check, then implementing handhelds would be a way to shorten the length of those times.
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Unfortunately, going handheld doesn’t solve all problems, and the kitchen overcooked a guest’s filet mignon. Mike handles the situation by apologizing and notifying the manager on his handheld wireless POS system.
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use the same handheld device during the day but load it up as an inventory device and complete her inventory and or dering in 1/3 the amount of time, thanks to the same radio frequency identifica tion technology that lets the hostesses and servers know who is in the restaurant.
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When a customer signs up for a customer appreciation card, all of their preferences are stored in the cus tomer database
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These marketing attempts have helped bring in more business.
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The menu is also more effective because data mining was used to determine what items bring in the most revenue, what items have the highest margin, and what less popular items are most popular with customers who bring in a large amount of business.
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This market provides a large opportunity for the handheld wireless POS sys tem in today’s customer satisfaction driven industry, especially since the once costly systems are finally poised to make the transition from niche product to mainstream acceptance
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The article provides a brief history of POS technology in the hospitality industry and studies the pros and cons of its applications in the restaurant industry. The study, published in 2004, focuses primarily on handheld POS devices that allow consumers to place orders and order checks independent of serving staff. The article finds that handheld POS systems have potential in this market to bring additional profits and increased customer satisfaction and loyalty.
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What's Behind Alibaba's $486 Million Investment in Hotel Tech Giant Shiji - Skift - 0 views
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Shiji, a Beijing-based maker of software for hotels, retailers, and food service providers, is much better at raising funding than it is at explaining to Western vendors and media its global strategy.
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E-commerce giant Alibaba is investing $486 million in Shiji, a Beijing-based maker of software for hotels, retailers, and food service providers.
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Within China, Shiji has the largest share of the market for property management software, which helps hotels run their operations, and central reservation system tools, which enable hotels to distribute their rates.
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InterContinental Hotels Group, Kempinski, and Shangri-La hotels in China use its software tools, to give a few example. So do Starbucks and Swarovski as retailers
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Within China, the big online travel players Ctrip and Qunar provide competition with their own self-developed or acquired solutions for the hotel supply base.
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Looking beyond China, Shiji has lately been expanding into Western Europe and North America, particularly on the hotel technology front.
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When Goldman Sachs analysts researched Shiji a few years ago, they said it was dominant in providing IT systems to high-end hotels in China, and had a greater than 30 percent market share. That share has likely grown.
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A key growth area then and now is helping hotels and restaurant integrate their payment systems with Shiji’s back-end IT infrastructure through Shiji’s own or through third-party payment hardware and software.
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Another gap is its ability to copy the Oracle Hospitality playbook and attempt to cross-sell more of its services to hotel food-and-beverage divisions.
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Alibaba is a well-known e-commerce company and the largest stockholder of Shiji. It added investment in this dominating PMS software company in China. Shiji is not only expanding its PMS software business in China, but also seeking chances to expand their business to Europe and America. It has the goal of being a well-known company worldwide and has a long way to go according to some business analysts.
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ITInvestmentAnalysis_Hospitality.pdf - 0 views
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This study aims to determine the feasibility of IT investment in hospitality and determine the value and tangible/ intangible benefits from IT implementation.
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Nowadays hospitality thinks that technology can improve business effectiveness and efficiency. Hospitality in Indonesia, especially Jakarta was competing to provide the best service in terms of information and technology. Moreover, implementation of IT is one of strategies to improve hotel performance
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Based on previous research, IT implementation at the hotel has been started since 1980s until 1990an, many hotels that invest millions of dollars for information technology about 4.4 million dollars
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Gaining competitive advantage [7] such as, IT security investments may stop the competitors to absorb market power. From other studies that point to problems appearing in hospitality to find out if the IT they invested is effective, [8] asserts that many hospitality companies have no procedures to see how effectively their spending on information technology is.
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Various sources of data that show about IT investment in the hotel, then the problem is the existence of large amount of investment for IT development without understanding IT effectiveness for the hotel [11], the managerial party who difficult to give data about the values and intangible/tangible benefits.
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According to [14], an IT investment consists of the total life cycle cost of an entire project or project chunk that involves IT, including the post-project operating cost of the system that was implemented. The investment ceases to exist when it is replaced or eliminated for any reason.
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Evaluating expense or impact of large IT investment may vary from study to study [15]. In order to evaluate IT investment, Information Economics (IE) is a set of calculating tools to measure the benefits and costs of an information technology project.
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The benefits of IT/IS that organizations use can be viewed by combining Simple ROI analysis and analysis of technology and business domain.
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This study using Information Economic approach in order to do feasibility assessment that combine technology domain and business domain
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The data collected includes the financial data of 5-star hotels and IT projects undertaken, as well as the costs for the technology used today. This stage is also done spread the questionnaire online for intangible value analysis of business domain and technology domain
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The feasibility of IT investment can be known ROI score generated on the economic impact sheet. According to [23], to calculate simple ROI, there are three worksheets, such as: development cost sheet using ratio, ongoing work sheet, and economic impact sheet. The final value of the ROI and the scores of corporate analysis is incorporated into the IE
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The Scores on the IE Scorecard will show the value and benefits of investment for IT.
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The huge demand for the Internet makes many hotels present the speed and bandwidth that can satisfy the guests.
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E-Concierge Service Management. Service to entertain hotel guests and modern travelers is currently working with smartphones in the form of E-Concierge Mobile with technology called Mobile Guest Softphone (MGS).
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IT Security, the problem that arises when using IT in a company/organization is its security. For companies/organizations and even hotels are also very vulnerable to information that can harm the hotel in case of cyber attack.
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According to Table 2, Mandarin Oriental Hotel ROI score is 1. This score means that the IT investment is feasible. Above 100% for Simple ROI means that IT implementation give profitability to the hotel and able to invest more in the future
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Value Linking approach implemented in 5-star hotel, implementation online reservation and e-Concierge management, hotel guests can quickly make room reservations and guest data collection will be better. For e-Concierge the process of entering guests to the room will also be easier
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This value showed that 5-star hotels in Jakarta have the time and opportunity to invest more in the future. Therefore, it is necessary to focus on future growth and development of existing infrastructure.
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It can be concluded that IT implementation and IT projects in 5-star hotels in Jakarta are quite useful. E-Concierge, mobile apps and online reservation are most valuable and success investment for 5-star hotel. But, in order to improve the performance of hotel IT, which in terms of security and improve hotel services, need a system improvement in accordance with the hotel program, so it can support the vision and mission of 5-star hotels in Jakarta.
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The result of financial analysis that is calculated ratio and processed in economic impact sheet obtained simple ROI and can be concluded that in terms of cost, IT investment in 5-star hotels in Jakarta can provide economic benefits for the hotel.
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The investment quadrant shows that a 5-star hotel has a solid business base, has the time and opportunity to invest in the future. The 5-star hotels in Jakarta also have the time and opportunity to invest more in the future. Therefore, it is necessary to focus on future growth and development of existing infrastructure.
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This value indicates that IT investment in 5-star hotel in Jakarta is considered economical enough, and quite helpful and useful in supporting hotel business process.
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This article covers a study performed on various 5-star hotels in Jakarta on the effectiveness and feasibility of IT investments. The study is performed via a questionnaire distributed to hotels in the area with associated data values for analysis. The study finds that IT investment in 5-star hotels in Jakarta is economically feasible and could provide these businesses with competitive advantage and profit.
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Gale Academic OneFile - Document - The anti-Venmo? Banks' p-to-p payment product eschew... - 0 views
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Talie Baker, an analyst at Aite Group, said that she does not think users are demanding a social network for P-to-P payments. "Most users are interested in security and ubiquity," she said in an email, referring to the overall size and scope of the payment network.
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But over time, Zelle's partner banks hope to support a wide range of business-to-business and business-to-consumer payments that seem more likely to generate revenue. Participating banks are also hoping that the P-to-P service will result in more satisfied retail customers, who are less likely to leave for another bank.
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During the COVID19 pandemic this is especially true. A restaurant that can use venmo can create and literally contactless pickup of food as well as retailers can do this as well.
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"If you owe money, you definitely want to show people that you paid, that you're not a deadbeat," said Crone, the CEO of Crone Consulting LLC in San Carlos, Calif.
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Venmo does leverage social pressures to pay which also can limit its market when "charging people on venmo"
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oreover, as Venmo moves into in-store payments, its use of social media may offer a way for PayPal to monetize the app's growing popularity, Crone said. After all, when a social media user endorses a particular retailer, that thumbs-up is valuable to the merchant. So the merchant may be willing to pony up for the positive buzz.
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So as we're thinking about the use cases for Zelle, sharing the bar tab for last weekend certainly is one of those. But also other use cases that wouldn't lend themselves to some of the comical social interaction that you see," she added.
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Zelle's architects considered, but ultimately decided against, mimicking Venmo's marriage of payments and social media, according to Alexander.
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Zelle has placed there focus on security rather than the social aspect in order to reach an older market. It seems as if in the long run Zelle will be able to retain its market better when the social aspect of money sharing becomes an issue. (which in my opinion is almost inevitable)
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t's one reason why the person-to-person payment app Venmo -- which encourages users to share spending habits with friends -- is so popular with the 18-to-34-year-old crowd.
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Venmo came in ahead of the curve in the digital banking market. Mainly targeting a younger demographic it has taken off. But this ahead of the curve mentality has allowed banks to create their own digital banking apps engineered towards the older markets.
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Transaction volume for Venmo, which is owned by PayPal Holdings, Inc., has grown by at least 130% in each of the last four quarters.
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Venmo being the mainstream digital payment app allows it to continue to dominate. Additionally social pressures to use the app drive the market even further.
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ts prospects also hinge on whether the big banks have made the right assessment about the willingness of middle-aged folks to mix payments data with their social networks.
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A continual problem with technology advancements is security. In addition to this older people are less willing to use technology and mixing those two together can create an environment where older people are not willing to make the change even if it is more convenient.
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The successor to a lackluster venture called clearXchange, Zelle is courting adults ages 18 to 54 who already rely heavily on their mobile phones. All told, 103 million U.S. consumers fall into that category. "We would say we're moving P-to-P from millennials to mainstream," said said Lou Anne Alexander, group president of payments at Early Warning Services, the bank-owned company that is developing the system
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Zelle targets a larger demographic allowing it to target possible whole families which eventually would lead to it being the mainstream app overtaking Venmo.
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But in rebranding and reintroducing a P-to-P payments service, the nation's biggest banks are targeting a broader demographic and betting that people who came of age in the 1980s and 1990s want to be more private about how they spend their money.
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At the same time, Alexander pointed out that younger adults who have been early adopters of the technology are likely to shape the habits of their parents and other older consumers. "So absolutely we are not ignoring the millennials and their influence," she said.
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This has been mimicked for many things in new technology like smart phones. As well as many social media websites. The younger generation influence drives the market.
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t's one reason why the person-to-person payment app Venmo -- which encourages users to share spending habits with friends -- is so popular with the 18-to-34-year-old crowd.