Transforming Your Raw Hotel Accounting Data Into Actionable Insights

1. Transforming Your Raw Hotel Accounting Data Into Actionable Insights While analytical insights have become a predominant success driver for various industries, the hotel industry has been lagging behind. One as a hotelier must lookout for an ability to use his/her data in order to make decisions that show a drastic impact on business, while unleashing more space to give attention to guests. Hotel industry is being faded out in this aspect, just not only because of lack of data. In fact hotels deal with millions of transactions every year and even the guests’ data keep increasing day by day. This prevent hotel owners and management from truly capitalizing and leveraging the trove of available data. It takes a special skillset to transform the data into actionable insights. Hotel Accounting System with significant analytical functionality and automation lets you see a full and accurate picture of your performance, without leave both past and future data on the table. Exploit The ‘Technology’

2. With the right technology, almost every process can be automated and hoteliers should look for a platform that brings in advanced technology that displays real-time data and authentic hotel specific reports. End goal has to be spending less time in gathering reports from PMS systems, and other resources as they consume loads of time for both revenue teams and operations’ individuals. Nimble Property’s intelligent dashboard consumes your data and lets you understand all your important happenings, letting you also communicate from then and there. It lays visual-rich data communication! Starting from operations, you will be able to navigate all your hotel group activities including banking summary, bills, checks, journals and sales that are up for approval, besides recurring dues. Performance tab illustrates property-wise occupancy %, rooms sold, ADR, RevPAR, Room Revenue and Total Revenue. Moving ahead, there’s an another tab that brings in a proper segregation of your hotel group’s revenue, income and expenses with crisp clear breakdown. Corporation wise, your income, cost of goods, expenses, income and net profit is visualized pretty much in detail on the Profit & Loss tab. Switching to Accounts Receivables & Payables Aging tabs will exhibit all your properties’ outline of the outstanding bills and invoices of your business. Further the STR data on dashboard exposes the property-wise competitive sets and index figures, related to occupancy percentage, Average Daily Rate and Revenue Per Available Room. Guest Satisfaction tab on Nimble’s dashboard is well crafted to showcase property-wise key-drivers, comments, and benchmarking information, by which you can know the pulse of your satisfaction scores.

3. It doesn’t end here, the dashboard of Nimble Property gives you a leverage to seamlessly navigate to perform accurate budgeting, reconcile bank accounts, generate balance sheet, income statement, journal ledger stock report and combined statements – Everything with ease! Diving your DATA unleashes space to seek high PROFITS Business Intelligence driven data drill-down in Hotel Accounting Software like Nimble gives you flexibility and control over your hotel finances, eliminates the long waiting for needful reports to be all compiled and later shared. Gone are those olden days of relying on static reports, that used to come as manual copies from the PMS. SLICE & DICE your DATA and have it more INSIGHTFUL Nimble Property gives you a flexibility to build and report your data you like and how you want your business to be mirrored, from both financial and operational perspective. Unlike ever before, the accounting abilities in here gives you the right data access, tailored to hotel industry – which is pretty much unlike seen every before in traditional hotel accounting systems. Fortunately, Nimble is reacting to the precise needs of hotel accounting and embracing integrations and automation methods to extract the data effortlessly from various systems. This will let you work more cohesively within your hotel space and process enormous amount of data within less timespan. Final thoughts In today’s competitive hospitality world, hotel owners are under constant pressure in improving their profitability and this prompts to seek high level of transparency into data and financial performance so only insights can be uncovered and decision making can be enhanced.

4. Armed with intelligent and meaningful insights, the intuitive dashboard like of Nimble Property improves your bottom line, by having glance at all the hotel happenings, adjusting pricing, reducing costs and rationalizing sluggish & unprofitable properties. Without any doubt, hotel business leaders need financial information in order to quantify the true value, accelerate hotel performance and gain a competitive advantage. 78% successful hotels already believe and agree to the fact that accessing insightful information has a paramount importance for strategic decision making. Like its said, the data transformation and technology advancements have helped hotel business owners overcome their historical challenges, generate more value, save costs and overhead. The needful data and information, when handy provides you a great chance to maximize your future prosperity, elevate profitability and reduce risks of cash flow disruptions.