Chesapeake Hospitality Maximizes Data Management and Forecasting Efficiency with ProfitSword
ProfitSword, a developer of business intelligence and data integration software for the hospitality industry, announced the implementation of its ProfitSage operational and financial reporting solution by Chesapeake Hospitality, one of the largest independent operators in the hospitality industry, specializing in full-service and upscale properties. Previously utilizing a separate third-party platform for data management and forecasting operations, Chesapeake Hospitality ultimately selected ProfitSage in order to provide its portfolio and staff with a more robust and accessible solution that could also address the complexities of ongoing company growth.
"After all of our departments performed an extensive evaluation of potential replacements, ProfitSage unanimously stood out as an intuitive solution that could easily extract the precise data needed to maximize profits, improve efficiency and better serve our clients," says Louis Schaab, Chief Financial Officer at Chesapeake Hospitality. "Unlike other platforms that have been developed by programmers with a purely technological background, ProfitSword is operated by individuals that have an extensive history in working within the hospitality industry, and that expertise is certainly reflected in their ability to produce a platform that fully caters to all of our data forecasting needs. With its unique insight on the industry and as a company that has served our market the longest, ProfitSword really does serve as a bellwether in the field of data management and analytics, and I can absolutely foresee us working with them in order to implement more of their solutions."
With ProfitSage, company leadership and hoteliers at each Chesapeake property can gain instant and real time access to an array of valuable performance metrics, including financial statements, sales data and revenue reports. Through ProfitSage's ability to integrate with multiple disparate systems and by its maintaining of a single shared database, staff members can be confident that any data being analyzed is complete, uniform and accurate at all times. Further enhancing data management efficiency is ProfitSage's ability to automate the delivery of reports that can be scheduled on a pre-set basis.
In addition to ProfitSage, ProfitSword's line of data management platforms also includes ProfitPace, ProfitPlan and ProfitWizard. A solution developed to effectively manage sales data, ProfitPace allows businesses to efficiently monitor sales team efforts to ensure that the company is on track to achieve individual and company sales goals. It also allows for the comparison of sales pace to forecast, budget, prior years and same time last year trends. Using ProfitPlan, hoteliers can incorporate stylized report templates to produce several types of reports required to manage daily tasks and information. ProfitSword's data analysis tool, ProfitWizard, combines business intelligence, decision support, performance management and ad-hoc reporting for efficient analysis of data.