ProfitSword, WVC RubixCloud Partnership Provides Hotels with Comprehensive Accounting Platform
ProfitSword, a provider of Business Intelligence solutions for the hospitality industry and WVC RubixCloud (WVCRC) have partnered to create a comprehensive data management and accounting solution that provides key financial and operational benefits for the hospitality industry. The integrated solution is designed to allow a single hotel or an entire portfolio of hotels to easily add themselves to a robust, hospitality-specific technology and support environment with little setup and effort. Hoteliers can also benefit from preferred pricing that would otherwise be difficult to locate for such enhanced functionality.
The WVCRC accounting solution along with ProfitSword's BI solutions are built to handle multiple entities within the same environment, providing the new integration with the readiness and ability to scale in lockstep with a company's growth. The in-depth integration between WVCRC and ProfitSword further ensures data integrity between the accounting system and the BI platform. This creates a singular source of truth for all data across all properties and departments. Data is accessible on any device with an internet connection for instant comparison across multiple properties and brands, actual to budget trends and/or drill-down to ledger level details.
WVCRC's top-notch accounts payable automation solution easily captures invoices with a mix of OCR and human review to ensure accuracy prior to being routed for approval and payment.he approval workflow is designed to be robust, but simplistic with the end user gaining visibility into their A/P information through ProfitSword's BI platform.
Providing its users with extreme attention to detail, timelines and a reliable customer service network for enhanced support, core components of WVCRC's services also include overseeing accounts payable and the processing of payments, including employee expense reimbursements. WVCRC further works to reconcile single bank accounts and recording transactions that may not otherwise be captured through other technology integrations. Other functionalities provided by WVCRC include reconciling credit card activity, noting payoffs within the accounting system, recording bi-weekly payrolls and reconciling general ledger accounts on a continual basis for customer access to current and accurate financial information.
In integrating with ProfitSword's ProfitSage solution, users of WVC RubixCloud are also able to benefit from hospitality's leading forecasting and budgeting platform, with key features that include real-time access to historical revenue and expenses and future-booking trends on one common cloud-based platform. ProfitSage also offers a fully automated daily income journal from all PMS and POS systems, along with the ability to integrate with sales and reservation systems as well as comp set and guest service score information. Providing visibility into G/L summary and detail transactions as well as A/P reporting, ProfitSage users can also leverage the platform's customizable reporting abilities to receive automated reports containing precise information needed for a specific employee role or analysis. This can include financial reporting with drill-down capabilities into transactional information, daily revenue reports and labor analysis as well as the ability to make multiple property comparisons and consolidations.