Centralized Hospitality Solutions For Hotel Management With IDS Next

Managing A Hotel From A Single Platform: Centralised Hospitality Solutions

Finance Online reported that the usage of new technology in hospitality is known to increase revenue by 135%, this is a significant rise that can help businesses bounce back after the economic challenges of the last few years.

Centralized management solutions have become a necessary infrastructure for businesses over the last few years owing to the vast number of benefits they promise. For businesses in the hospitality sector, a centralized management system is a way to simplify task management and delegation across teams, especially at a time when businesses are spread across multiple locations and try to work tirelessly to keep their guests satisfied 24/7.

Today, central solutions enable hoteliers to cover multiple responsibilities, including reservation management, finance management, procurement, and even data analysis.

Managing reservations across properties

Modern hospitality businesses are vast and span multiple geographical locations. As such, managing reservations and keeping track of the availability of each of those properties certainly need the help of a cutting-edge system.

A Central Reservation System (CRS) is a powerful distribution system that enables chain or group hotels to centrally coordinate all the reservations, inventory, rates, guest profile data, guest reservation preferences, and payment details, all from a single venue.

A CRS can also aid hoteliers in handling inventory and planning property management accordingly. For instance, by blocking or releasing inventory as per the performance of travel agents, tour operators, and corporates, a hotel can define the best rates according to the demand.

Simplifying finances and accounting process

The revenue of a hospitality business comes from multiple sources. This can mark finance management and bookkeeping as one of the biggest challenges for any sized hospitality business. Hoteliers looking for a digitized solution that can overcome the above challenges, which requires software that carries out error-free transactions faster on a single, navigable screen.

Each hospitality business consists of distinctive requirements and hence needs a solution that allows hoteliers to set up their preferred financial regulations and determine a customized framework for their financial management; i.e., a solution that gives the freedom to determine their financial year, use multiple currency formats and even define the most suitable report format for business transactions.

The process of managing finances is further made easier with the system providing tailored reports to support the financial and decision-making of the business and encourage performance comparisons and insight-backed strategizing.

Streamlined procurement solutions

Procurement and purchase order management is a crucial task of hospitality services. Having a comprehensive view of all purchase orders on a simple and intuitive interface facilitates smoother operations and better decision-making for hotel management.

A centralized platform to handle multiple tasks from multiple locations will help hoteliers to make their tasks much easier and simpler. These solutions enable hoteliers to create common purchase orders for multiple requests from different units and create multiple orders with multiple vendors on one screen. Additionally, they create purchase requisitions for multiple departments on a single screen and easily create central or unit-wise requisitions.

An automated system that consolidates procurement in a single platform can guarantee a significant reduction of overhead costs, increased visibility and better purchase control across the hotel properties, and a smoother relationship with the suppliers.

Single-view data and analytics

Data is the lifeblood of modern businesses. Having the correct data and analytics on a single application allows the management to view business-critical data in real time at their fingertips.

A central reporting and analytics tool promises all the statistics, data, and numbers of a hotel’s performance from its multiple departments on a centralized dashboard. This includes room revenue, sales details, ancillary revenue, high-demand and low-demand items on a menu, and even sales details during high socializing seasons, all displayed in a visualized summary for quick overviews and faster decision-making.

Business critical data from multiple locations available on a single platform also means the ability to compare revenues from all revenue channels, monitor progress over time, and even set up the budget for each month based on different income categories, so that businesses move forward with only the right financial strategy for the existing marketing conditions.

Centralizing hotel office operations for next-level efficiency

Having centralized tools builds better connectivity and awareness amongst all stakeholders of the hotel and increases the responsivity for market changes. Instead of disconnected operations, staff miscommunication, and unusable data structures, an integrated set of tools on a single digital platform facilitate a business to build robust synchronization between its supply chain, customer relationship, and financial management.