ProfitSword, a premier developer of business intelligence and data integration software, has announced the publishing of a white paper focusing on how hoteliers can save themselves from thousands of dollars in operational expenses when deploying an advanced business intelligence platform. Now freely available for hospitality professionals to download from the ProfitSword website, the new white paper takes a step-by-step approach to demonstrate precisely where and how much hoteliers can stand to save, while also providing valuable insight into how the same business intelligence solution can increase profits and result in more efficient use of available labor resources.
Entitled, “Growing Your Hotel Empire With ProfitSword: Digging into the Savings of Hotel Business Intelligence,” the white paper first illustrates how hoteliers can leverage an effective business intelligence strategy to identify and eliminate unnecessary expenses without placing their business operations at risk. When equipped with a solution that can relay accurate business performance and forecasting data in real time, the white paper demonstrates how select-service hotels can save up to $25,000 per year in avoidable costs while full-service locations can save up to $75,000 annually.
“The ability to cut down costs has always been a central benefit for those adopting modern business intelligence solutions, but it has become especially crucial in today’s economic climate where hospitality businesses can stand or fall depending on their ability to manage financial responsibilities efficiently, said John Crutchfield, COO at ProfitSword. “While many believe they understand the advantages that an advanced business intelligence platform can provide, few know precisely how and where such solutions can prevent the hemorrhaging of revenues from multiple areas of their business, which is exactly what our white paper is designed to resolve. We look forward to seeing professionals across the industry leverage this new informational source towards running a more efficient, profitable and resilient business that can better withstand inevitable market fluctuations whenever they arise.”
Additional cost-saving areas demonstrated in the white paper also includes how a business intelligence solution can eliminate communication barriers, with employees spending less time compiling and verifying the accuracy of data and more time implementing new business strategies. By streamlining the use of employee time and lessening the need for a larger workforce, hoteliers can expect to save an average of $38,272 in salaries each year. Yet another cost-saving advantage of an advanced business intelligence solution is the ability to consolidate multiple functionalities such as income journals into one single platform while eliminating costs associated with printing, faxing or mailing documents. This can lead hoteliers to saving an additional $45,000 each year.
For further details on the cost savings that the latest in business intelligence technology can provide, please click here to download the ProfitSword white paper.