ProfitSword and Infor Partner to Provide Hoteliers With Enhanced Business Intelligence Insight into Group Room, Banquet and Catering Revenue Performance
ProfitSword, a developer of hospitality-related business intelligence and data integration software, has partnered with Infor, a leading provider of global cloud business software, to equip hoteliers with the latest in group room, banquet and catering business performance analysis technology. Via the integration of ProfitSword's suite of BI solutions with Infor's advanced Sales & Catering software, hospitality professionals currently experiencing labor shortages can nonetheless obtain insight to help them accurately determine if group sales targets are being met, how current sales performance compares to previous time periods and what the future sales outlook is projected to be for their business.
With the integration abilities now available between each company's solutions, ProfitSword's fully automated business intelligence tools can quickly retrieve a wide range of valuable group sales performance metrics from Infor's Sales & Catering software across a hotel's various departments or throughout a portfolio of hotels. Accumulated in near real-time, the data can be automatically stored within a single database for hassle-free retrieval by business leadership or by staff and with analytics made available based on an individual's role and areas of responsibility. This can help ensure that each level of an organization can obtain relevant and up-to-date group-based sales statistics that can prove essential and timely to adequately address upcoming business and market needs.
"Both Infor and Profitsword share a mission of providing customers with the comprehensive business performance analysis needed to help boost profits and efficiency, and this ability is especially important given the current market environment where hoteliers must leverage any opportunity available to them that can increase revenue," said Jason Floyd, senior vice president and general manager, Infor Hospitality. "Our integration can provide each hotelier with the capability to help this objective when it comes to group-related sales efforts, and we are honored to work alongside ProfitSword in creating a valuable tool that can provide hotel businesses with vital guidance about how they can manage strategies to help ensure continued growth and success."
Infor Sales & Catering data, which can be quickly accessible via the ProfitSword database dashboard, includes granular statistics on group-based bookings and events such as weddings, conferences or business meetings and any subsequent sales generated by such business. Using ProfitSage to analyze the information, hoteliers can forecast what upcoming group-related sales opportunities or risks may be arising in order to revise business plans accordingly, and without the need to first spend multiple hours compiling and verifying data. By integrating with ProfitPace, properties can further evaluate revenue generated from group sales on a year-over-year basis to identify any fluctuations in booking, banquet or catering sales activity from previous norms; allowing businesses to pinpoint growth trends or if there is a need to re-strategize sales efforts. Using ProfitPlan, hoteliers can even leverage Infor's Sales & Catering data to monitor the performance of individual sales personnel. This data can be used to help ensure each employee continues to meet established group sales expectations, whether they are performing required functions such as scheduling site visits, or if additional training is needed to improve results.
"Group-based sales typically form an essential part of a hotel's revenue growth efforts, however complex manual data retrieval and analysis processes have long proven to be a time-consuming challenge that the industry has faced in formulating an informed business plan, and this has become all the more of an issue with hotels operating at reduced employee levels due to the health pandemic," said John Crutchfield, Chief Operating Officer at ProfitSword. "We are proud to be working with Infor in offering a solution that can provide time and labor resource-strapped properties with a means of helping them operate more efficiently and profitably during the COVID-19 era, and that can help them to identify opportunities that can lead to a faster and stronger recovery both in the short and long term future."