ProfitSword, a premier developer of business intelligence and data integration software, has announced the finalizing of a strategic partnership with Tripleseat, a leading innovator of fully comprehensive group sales and catering technology for the hospitality industry. The integration between both companies notably comes at a time when events and group bookings are rebounding, and provides hoteliers with robust business intelligence abilities to ensure sales strategy alignment for maximum profitability.
Key to the advantages of the ProfitSword and Tripleseat integration is the ability for hoteliers to access all of their business performance data from a single, yet fully inclusive and user-friendly source. With Tripleseat data now automatically uploaded into the ProfitSword database and user interface, hotels can gain crucial insight into how to adapt their event and group sales strategy based on fluctuating demand and where to allocate in order to increase business growth.
Key Performance Indicators (KPIs) instantly uploaded include analytics on event or group size, room rates, the number of days that a group will be staying, and which banquet items have been requested. This ability virtually guarantees that hotels always have the appropriate amount of inventory on hand to meet upcoming business needs while sidestepping the risk of over-budgeting and unnecessarily spending financial resources.
“Tripleseat is committed to forming partnerships that offer enhanced value to our customers and ProfitSword is one example where hoteliers have come to us to learn how they can integrate our services in order to gain a full understanding of how they should pivot their business,” said Jonathan Morse, CEO and Founder of Tripleseat. “With hotels now looking for business intelligence tools that can offer a comprehensive picture of performance forecasts from a single location, we are extremely pleased to share details of this new feature and look forward to providing hoteliers with the real-time analytics needed to ensure that sales efforts are always headed in the right direction.”
Using ProfitSword’s advanced reporting capabilities, accessible data can be tailored to the unique benchmarking needs of individual employees and their areas of responsibility. With the inclusion of sales pacing, hoteliers can also use reports to monitor the real-time progress of individual sales representatives to ensure that goals are being met or if a strategy realignment is required.
“With groups and events now making a return to the hospitality space, revenue-strapped hoteliers have a valuable opportunity to make up for lost profits, but they will need the ability to make informed decisions based on evolving market conditions if they wish to be successful,” said John Crutchfield, COO at ProfitSword. “Tripleseat shares our mission of providing hoteliers with the data intelligence they need to make smart decisions that unleash a property’s full revenue-earning potential, and we are excited to see the results our joint customers will achieve by again tapping into one of hospitality’s most important revenue sources.”