In today’s economic climate, hoteliers are looking for ways to reduce costs across the board. To know where to cut, they must have the ability to access, view, compare, and dynamically analyze the performance data of their single hotel or multi-property, multi-branded portfolios. Without access to this vital information, operators may find themselves unable to make effective business decisions. Aptech, the industry standard for hospitality financial management, is LIVE at HFTP’s (Hospitality Financial & Technology Professionals) CYBER HITEC October 27 to 29 to demonstrate how operators can better weather this economic storm via technology.
The only way to respond quickly to changes in revenue and expenses and identify trends that will better position hotel assets for growth and profitability is with a hospitality-specific financial management solution. While off-the-shelf accounting software, such as Intuit QuickBooks, is an affordable and functional tool for managing the back office, it has limitations for hotels. As the world transitions to the next normal and hotel company revenues and portfolios begin to grow again, so will their financial management needs.
“For 50 years, hoteliers have come to rely on Aptech for Enterprise Accounting, Budgeting and Forecasting, and Business Intelligence applications,” said Cam Troutman, Aptech Vice President. “My father, Jay Troutman, founded Aptech in 1970 to apply technology to solve business problems and increase profitability for hotel owners. There are few family-operated technology businesses in this industry with such longevity and respected leadership. While there is nothing wrong with single hotels or small entities using off-the-shelf accounting software, these packages will not provide the actionable intelligence that today’s operators need to emerge from this pandemic strong and profitable.
“We are encouraging everyone to visit Aptech virtually during CYBER HITEC to see first-hand the bottom- and top-line benefits they can achieve from working with our hospitality-specific financial management team,” he said. “There they will see how our Execuvue, PVNG, and Targetvue financial management platforms can bring their hotels closer to profitability.”
Here are 5 reasons why Aptech is the industry standard for hospitality financial management:
- Aptech Speaks Hospitality — When you work with Aptech, there is no explaining hotel operating jargon or chart-of-accounts standards. We understand ADR, RevPAR, Flow Through and more. From the first meeting we can join the discussion, understand the hotel’s challenges, and build ways to address specific issues into our solutions. Aptech understands that hotels close their books each day, and we have built our platforms from the ground up to handle the daily nature of this industry’s operations.
- Aptech is Scalable — We understand the financial strain hoteliers are facing today. Our applications are designed to work independently so hotels can start with one platform and add more modules as business and needs grow. We also understand that not everyone has the same skill level, so we tailor our services to meet the needs of each organization. In addition to our stellar software support, we provide technical support, operational support, and on-site user training.
- Aptech Plays Well with Others — As well as we know hospitality, Aptech also knows the industry’s vendor community. We have spent years building relationships and integration partnerships with those developing today’s leading hotel technologies and we understand the importance of fostering lasting business partnerships to deliver the best possible outcomes for our clients.
- Aptech Rolls Up Its Sleeves — Aptech is a proud member of HFTP (Hospitality Financial & Technology Professionals), HTNG (Hotel Technology Next Generation), and AH&LA (American Hotel & Lodging Assn.). We believe strongly in networking with hospitality professionals who have chosen hospitality as a career. As a member of HFTP, we have access to information on the latest hotel finance trends, emerging business practices, and industry-focused educational resources. Through HTNG, we have a voice in helping to develop standards and best practices in hospitality technology. And our membership with AH&LA keeps us connected to lodging operators, hotel school graduates, lobbyist and more. Aptech is also an IBM Software Value Plus Partner and Premier Solution Provider as well as a Prophix Premier Business Partner.
- Aptech is Trusted by the Industry’s Who’s Who — Since its inception, Aptech has served thousands of clients that manage and own hotels, including branded and independent operators. We are the No. 1 choice for financial management software among the industry’s mid-scale brands and leading hotel management companies. As of October 2020, Aptech has:
- Processed 100+ million hospitality invoices
- Completed 250+ thousand month-end closings
- Issued 10+ million daily flash reports
“Aptech is extremely proud of our industry partnerships and the long-term relationships built with our customer hotels,” Troutman said. “We attribute our 50 years of success and hospitality service to our core value of building human relationships and working with hoteliers beyond the initial project, keeping everyone aware of industry changes in technology and innovative options to enhance their organization.
“It’s truly a new world and a new way of doing business post pandemic,” he said. “While we wait for travel volume to resume — and we are confident that it will — we will continue to be visible to hoteliers who need us through important industry events like CYBER HITEC. Financial freedom and your path to profitability is only one click away.”