Hospitality Technology

Swipely a social commerce company has users who can publish their purchases online. When they swipe their credit card, the transaction is shown on the site and this is discussed by other users. Company wants to transform shopping online and offline . There are two generations of e commerce sites: first, essentially digitized mail order catalogue and second, few emerged from Silicon Valley or sometimes they drive customers to actual shops. Many made money from flash sales, meaning time limited offer of high discounts. Buyers spread the word on social networks because these sites offer different services of local business for eg. restaurants and spas at a discounted price. Groupon could be a third generation of social shopping sites. It's hard to predict whether second or third generation of e commerce sites will continue to grow because they may get tired of flash sales.

Despite the fact 50 % of guests use their smart phones to book hotels, recent research reveals they are not ready to pay for their rooms after they stay with the same phones. Near Field Communication (NFC) would allow guests to simply wave their phones at a kiosk to check out instantly paying and updating the hotels accounts. Fear of cellphones being stolen are the general apprehensions of this new technology that would eliminate carrying a credit card. After the smart phone market matures hotels airlines and restaurants will be able to take advantage of the swift mobile payment technology.

There are several ways for small business to track income and expences. At first checking with a business accountant is an important step of choosing right accounting software. Checking business forums also can be a good idea of finding best solutions for owners of small enterprises. If the business owner is into service business he needs accountung software which can track time and billing but if he is the owners skill level must also be considered. Some accounting applications in the internet offer trial runs, so trying them can be a good way of finding whats best for this particular business. Cloud applications can also be very helpful, avaliable and accessible anywhere, anytime and very mobile, because you can use them from phone, pc or a tablet. You don't need to buy servers to host the software hosted in icloud. For sure it has some disadvantages like privacy, security, and fees, if any problems in the system occur the owner will need to wait for vendor to resolve it. Choosing the best solution for accounting of small business enterprise owner will have to weigh all advantages and disadvantages in order to find what is the best solution for its business.

i agree!! choosing the proper accounting system can make operation goes smoothly.

This article is talking about a centralized hotel accounting system that was introduced and explained by the Prospera Hospitality which is a leading hospitality management company operating 18 branded and independent hotels and resorts. This accounting system enables Prospera's team to track each property's daily performance and deliver flexible reporting. The system can generate individual and multi-property general ledger that help Prospera's team achieve different goals of investors. It also provides customized financial statements that give the management team an instant and clear picture of each single property's operating health. The cloud-based feature allows the smaller select properties not hire IT staff to support on-property software.

This article is talking about Prospera Hospitality, the leading hospitality operator earned reputation by its successful third- party manager for investors, including Marriott, Hilton, Starwood flags. In the article, talks about few reasons make them success, such as they implement centralized financial hotel accounting system platform that can manage by the numbers and to create customized financial statements for more efficient operation. In addition, cloud based system also enhance flexibility on multi- flag, multi-property accounting. In sum, this is the article about the hospitality organization that using accounting systems to successfully operate the business.

This website introduces a hospitality accounting system, Profitvue. This system can serve both hotel groups and individual hotels. Not like other accounting software, the Profitvue is very easy to learn and the chart on this website can help you understand how it works. It also introduces its extensive cloud-based system, which is called the Webvue. This system allows hotel to access its statistical data base and generate reports via the internet.

Hospitality Finance and Technology Professionals (HFTP) is creating an accounting system users guide to create a global resource for the hospitality finance industry. This is going to be a great resource for companies to use as a benchmark when compiling accounts, comparing differences with competitors and defining the value of their operation. Although it will not be used as mandatory protocol that all companies must abide by, it is a great tool to use as guidance. It will consist of a glossary, accounting charts and provide examples.

This article explains how the hospitality industry is taking their own twist on accounting. Similar to GAAP, the hospitality industry will use the Hospitality Financial and Technology Professionals' (HFTP) global hospitality accounting system users guide. HFTP is a global professional association dedicated to financial and personal in the industry. It is implementing a benchmark that stakeholders can use to gather accounts, compare regional differences, and set the value of operations. It will have a glossary of inventory terminology, charts, and benchmark specific regions of the world. HFTP plans to create this in 3 steps. The first step is to gather bachelor students at Ecole Hoteliere De Laudanne to gather data from hotel operations and assemble the terms. The second step is to distribute the data to regional teams that will create sample charts of accounts for the local areas. The third step is to discuss similarities and differences in allocations. I think this great for the hotel industry because will have a common accounting principle to reference to. It will allow hotels to better be indexed and compared to one another.

this article introduces a new software that helps with the payroll and tips handling for restaurant users. This software calculates all the deductions for each individual employee.  ezPaycheck is available for $89 per year.  USer friendly interface, compatible with tax rates of all 50 states

Accounting is very essential in any business. If not done correctly and accurately this can destroy a business. Hospitality Accounting Services is a multi-faceted company that is specializes in accounting procedures for the hotel industry. Furthermore, they provide clients with internal control auditing, data archiving and report automation systems and hotel information systems consulting.

This article outlines one software suite that can be used in a vast array of functions for the hotel industry. As shown in this article the ASI program includes everything from accounting to reservations and even a point of sale system. Other features include data mining software and call logging.The latter are used to build consumer profiles for the hotel to use in later visits. Overall this is a good alternative for smaller boutique hotels that still includes all the necessary programs of a full PMS. The accounting software is definitely up to par and can perform all necessary functions such as night audits and running supply counts.

PRNewswire/ -- MICROS Systems, Inc. (NASDAQ: MCRS), a leading provider of information technology solutions for the hospitality and retail industries, is pleased to announce that the Moran & Bewley's Hotel Group has invested in MICROS cloud-based technology to help deliver a consistent experience to customers and staff throughout its ten hotels in Ireland and the UK.

Cloud-based technology continues to takeover hotel information technology solutions.

Nor1 announced today the integration of its pricing and merchandising solutions with MICROS OPERA, aiming to enable nearly 22,000 hotel properties to quickly increase revenue and customer satisfaction. This agreement between Nor1 and MICROS is a partnership fueled by common customers such as Hilton, Hyatt, Fairmont, Carlson, and Joie de Vivre, and the desire to help their hotels maximize revenue opportunities at every turn. Furthermore, Nor1's eStandby Upgrade is a revenue enhancement solution that is providing hotels on six continents real bottom-line lift and overall guest satisfaction. It is to note that Nor1's eStandby Upgrade does this through PRiME, the pricing and merchandising engine, which dynamically analyzes over a million points of data to more accurately identify the right product selection, upsell pricing, and display ranking decisions for each individual guest. Now eStandby Upgrade hotels running MICROS OPERA will have access to deep insight into all their guests, ensuring more relevant and targeted offers.

This article informs us on the different levels of integration to accounting, ecommerce, rental, shop management and other software modules. There is a slight difference between integrated and interfaced. Interface is when the system is linked to another accounting system like quick books or Peachtree in order to transfer data between them in order to communicate with third party programs. Integrated modules use the same file and information, data is consistent in order to avoid double entry. Most accounting systems are built in and tightly integrated into the software so there is an instant update of inventory quantity, customer history, account receivables etc. There are some advantages of a separate accounting package which include saving money, no retraining, and better overall design with stand alone accounting systems. Some disadvantages of a separate accounting package will be out of date information, updates and maintenance can cause problems, difficult configuration. The built in (integrated) accounting includes updates, quick reference, and easy configuration. Disadvantages are poor design. According to this article it seems that accounting systems which are integrated are far more efficient then interfaced accounting systems. Although it clearly states that both words are used interchangeably and both can give plenty of problems with the software. But with integrated individuals are just working with one program while with interface individuals have to learn two programs and user interfaces.

Billing software is important for the hotel. It can helps the hotel account for telephone charges, Internet usage, equipment fees, surcharges and taxes in real time. With the declining of the telecom revenue the new call accounting modules should adapt to new market competition. Some of the hotel adjusting room rate to balance the telecom revenue lost. Even though the use of the telecom is declining, proper use hotel call accounting system can still bring profit. The accounting system can provide traffic reports identify grade of service, peak calling hours, and the number of trunks the hotel should have to run telecom smoothly. The calling accounting report can show where guests are calling. It is easy for hotel find its target market and negotiate better tariff plans. The call accounting system can make fewer mistakes than the night auditor. All calls are being record with the help of calling accounting system. Hotel should update the critical information in calling accounting system monthly and all the properties use the same tariff table and follow the same guidelines. In this way hotel can avoid inaccurate billing and lost revenue.

Hotel call accounting software or hotel accounting software in short is a system records telephonic activity, translates it into relevant data and arranges it in reports, graphs, charts etc for analysis. In the hospitality industry, the call accounting software plays an important role as an interface between the hotel management/staff and the customers. Call accounting products allow hotels/motels to bill guests for all phone calls that the property will have to pay for, recovering costs.Managers can also detect phone misuse or abuse, optimize phone system performance, allocate telecom costs by department or extension, set special rates for VIP guests, and decrease billing errors.

Using accounting system to generate revenue for hotel is a great way. Today, revenue management is strong relay on those more accounting system. Properly use accounting system can support hotel generate more profits. Also, proactive hotel properties use call accounting reports to determine calling patterns that show where guests are calling. All these data help the hotel target marketing and negotiate better tariff plans.

This article talks about what is mobile technology, mobile technology is widely used in the world today and a variety of communications technologies are based on mobile devices. Those devices are such as wireless fidelity, Bluetooth, third generation and so on so forth. It is lots of benefits for mobile computing. Mobile computing can increase the service you offer your customers. Also, more powerful solutions are able to link you directly into the office network when working off site. You can access your accounting systems or database while working off site. However, some drawbacks of mobile technology also exist. There are costs involved in setting up the equipment and also training required to let people know how to use mobile devices. In addition, the data are not secure under mobile IT devices.

This article talks about the many different roles of being a hotel accountant. As the article stated, every hotel has its own financial department that has their own criteria. It is impossible to get a specific detail on how or what is it that you will be doing at your job. Each hotel and hotel chain chooses to employ their finance team's talents, since many hotels utilize their financial employees in different ways and hotels of various sizes have differing department structures. According to the article, the three major broad categories that you may fall into working as a financial accountant for a hotel are; accounts receivables, guest service, audits training, and month end reports. Work done in accounts receivables is basically retrieving debts that are owed to the hotel by different companies who hold a credit to the hotel. Guest services includes dealing any financial guest service issues. Last but not least, auditors include counting inventory, reviewing financial paperwork and investigating discrepancies found in the expense ledger.

I don't understand the title of this post. Specifically "BUsing." Please clarify.

I am also confused with the title, but I really interested in this article. It is true that it is impossible to give a detailed description of how each hotel or hotel chain chooses to employ their finance team's talents. Nowadays, many hotels utilize their financial employees in different kinds of ways.

This article talks about Agilysys , which is a leading provider of innovative technology and hospitality software solution and states that Valley View Casino & Hotel in Valley Center are using their Visual one system for the hotel which offers :  front office operations, guest history, housekeeping, reservation management and more. The company offers software and hardware to companies ranging from small hotel to middle size hotel. Furthermore the company else have a Visual Comp accounting module with give the employer the opportunity to code complimentary guest charges from the guest folio, including patron self-redemption and manager comps and much more.  The software that the company provides are really users-friendly and the news users have no problem whatsoever to use the program after receiving the training.

It is not only easy to use but also features drag-and-drop options in their touch screen devices which facilitates new employees to use this kind of system. Most Importantly, it is user-friendly and can save a lot of money to the company in the long run. Great investment!

POSLavu, an outstanding wireless point-of-sale system from LAVU that it's a leading developer for restaurants softwares was featured recently on the Kitchen Nightmares TV show by famous chef Gordon Ramsay. This application can be used through your Ipad or Iphone with one single touch you can customize menus, manage seating, take meal orders, and much more. Most importantly it is easy to install and extremely easy to learn.