Heritage Hotels & Resorts Partners with ProfitSword to Streamline Data Management and Budgeting/Forecasting Operations
ProfitSword, a developer of business intelligence and data integration software, announced the implementation of its ProfitSage operational and financial reporting solution by Heritage Hotels & Resorts, a hotel management company based in Albuquerque, New Mexico. Renowned for its mission to promote Southwestern, Native American and Spanish culture by partnering with non-profit organizations and individuals to create a unique style at each one of its properties, Heritage Hotels & Resorts has experienced dramatic business growth over the last five years. While continuing to acquire additional locations, company leadership soon identified the need to implement a business intelligence and forecast strategy that could keep pace with the increasing complexities of a rapidly expanding organization.
While completing the process of general ledger (GL) code consolidation on its newly acquired properties, Heritage Hotels & Resorts encountered common industry difficulties in attempting to integrate separate chart of accounts data, including the updating and syncing of information in real time. Previously using a tedious, manual process to input the daily income journal (IJ) which dramatically hinders the forecasting process, the IJ is now automated within the ProfitSage solution and completed in seconds. Forecasts can then be created or updated immediately using real-time data. By seamlessly integrating with a multitude of disparate systems, including PMS, POS, and GL platforms, ProfitSage can instantly retrieve financial data from all of a company's locations and provide access to the information in one user-friendly dashboard. Using a single database, ProfitSage further ensures that any updates or notes made by an individual staff member is instantly shared with other employees in real time, guaranteeing data uniformity and accuracy at all times.
"When first testing ProfitSage, the quality of detailed reporting along with its effectiveness in comparing actual performance to multiple forecasts in one intuitive dashboard, was something that simply wowed us because we had never seen anything like it before," says Jason Couillard, Chief Financial Officer at Heritage Hotels & Resorts. "While we did initially look at other competing solutions, nothing was remotely comparable to the ProfitSage platform and none of the other companies could offer what ProfitSword already does."
Founded by hospitality professionals with years of experience in the industry, ProfitSword is able to work with its clients in customizing performance reports that deliver the precise information required. Such reports can be pre-scheduled and automatically sent to appropriate personnel whenever needed, further reducing the time and labor required to complete budgeting and forecasting tasks.
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.