Crescent Hotels & Resorts Selects BI Software for Operations & Reporting
With an increasing focus on overall performance of individual hotel assets and complete portfolios of hotels, Crescent Hotels & Resorts has chosen the ProfitSage Business Intelligence application by ProfitSword for the hotel and golf course portfolio managed by Crescent. The ProfitSage application contains both an operational tool for the hotels as well as an executive reporting structure for the corporate office.
"With Crescent's growth, company complexity, and sophistication of the hotels which we operate, the ProfitSage application gives us the operational platform to help us easily assimilate these properties into the Crescent business model. ProfitSage was the clear strategic choice for our business intelligence and operational needs." says Michael George, president and CEO for Crescent Hotels & Resorts.
Key features
Founded in 2001, ProfitSword developed the ProfitSage application specifically for the hospitality industry. ProfitSword has created effective tools to mine data from hotel PMS, POS, back office accounting, sales automation and payroll/timekeeping systems. ProfitSage can even import data from Smith Travel reports, i.e. weekly and monthly e-STAR. The application provides the users several modules to manipulate and report on the data. In addition, corporate users have access to a full array of financial reports for individual hotels, roll-up reports for the entire portfolio, or reports for only portions of the portfolio. At the property level, ProfitSage provides users modules for automatically creating and balancing the Daily Income Journal, creating accurate top-to-bottom Forecasts and Budgets, and effectively managing the Accounts Payable process. There is a two-way interface between ProfitSage and the back office accounting system, and ProfitSage can push the appropriate data to the back office (income journals, budgets, accounts payable, etc) — matching up every GL code.
"ProfitSage was designed specifically for companies like Crescent, yet it was highly customized to accommodate our needs," says Phil Wolf, senior vice president of finance and treasurer for Crescent. "The efficiencies created by ProfitSage at both the property and corporate level have really helped Crescent provide better services to all levels of our organization — especially our owners and partners. We can give them direct access to the ProfitSage system so they can view financial reports for their properties in real-time. In addition, the availability of information within ProfitSage has created a new level of accountability at the hotels, and we have raised the bar for performance at all levels."
"With Crescent's growth, company complexity, and sophistication of the hotels which we operate, the ProfitSage application gives us the operational platform to help us easily assimilate these properties into the Crescent business model. ProfitSage was the clear strategic choice for our business intelligence and operational needs." says Michael George, president and CEO for Crescent Hotels & Resorts.
Key features
Founded in 2001, ProfitSword developed the ProfitSage application specifically for the hospitality industry. ProfitSword has created effective tools to mine data from hotel PMS, POS, back office accounting, sales automation and payroll/timekeeping systems. ProfitSage can even import data from Smith Travel reports, i.e. weekly and monthly e-STAR. The application provides the users several modules to manipulate and report on the data. In addition, corporate users have access to a full array of financial reports for individual hotels, roll-up reports for the entire portfolio, or reports for only portions of the portfolio. At the property level, ProfitSage provides users modules for automatically creating and balancing the Daily Income Journal, creating accurate top-to-bottom Forecasts and Budgets, and effectively managing the Accounts Payable process. There is a two-way interface between ProfitSage and the back office accounting system, and ProfitSage can push the appropriate data to the back office (income journals, budgets, accounts payable, etc) — matching up every GL code.
"ProfitSage was designed specifically for companies like Crescent, yet it was highly customized to accommodate our needs," says Phil Wolf, senior vice president of finance and treasurer for Crescent. "The efficiencies created by ProfitSage at both the property and corporate level have really helped Crescent provide better services to all levels of our organization — especially our owners and partners. We can give them direct access to the ProfitSage system so they can view financial reports for their properties in real-time. In addition, the availability of information within ProfitSage has created a new level of accountability at the hotels, and we have raised the bar for performance at all levels."