ProfitSword to Provide Business Intelligence
Software to its Portfolio
|DURANT, OKLAHOMA – May 2, 2005 – Premier Hospitality Management, a
leading hotel ownership and management company, has chosen ProfitSword,
LLC, an innovator in web-based intelligence tools for the hospitality industry,
to provide business intelligence software to Premier’s 11 properties.
The move will enable property managers to gather, interpret and share detailed
data and information with the corporate office and each other in real-time.
Beginning in February 2005, Premier began using ProfitSword’s ProfitSage Financial Suite as its business intelligence tool, replacing an older system. The web-based ProfitSage software consists of six modules that interface with the PMS, back office accounting, sales automation and payroll systems in order to warehouse data. The information is then used within the different modules to produce revenue reports, detailed forecasts, line-by-line budgets and hundreds of customized reports for use at the property level and the corporate office. ProfitSage also imports the Smith Travel data to provide comprehensive comparisons to the competitive set.
“The flexibility and operating ease of ProfitSword has made the switch incredibly easy,” says Renae Kelley, Corporate Controller for Premier Hotels. “And all the team members at ProfitSword have experience in hotel operations so they completely understand our challenges. They have a good working knowledge of all of the systems within a hotel in both front of the house and back of the house, and they understand the need for Premier to have total control over our own data.”
ProfitSage provides modules for tracking daily revenue, forecasting, budgeting, journal, purchasing and marketing. Each module can interface with the others, and since the entire system is web-based, users can view information in real time. This empowers managers with information to make solid decisions that will positively impact the profitability of the hotel. And because the program is custom designed around a company’s chart of accounts, managers can use it to generate consistent, standardized reports across a variety of brands and property types. This has been increasingly important at the corporate and ownership levels that are involved in multi-brand management.
“Management companies have data from a multitude of sources that is not easily accessible. These systems include the PMS, back office accounting, POS, payroll/timekeeping, and sales automation,” says Mike Patton, vice president of software development for ProfitSword. “Managing this data can be crucial to a company’s operation, guest satisfaction, and profitability. The ProfitSage software provides an easy-to-use tool for hotel operators to manage their information flow. There are roll-up reports for upper management and ownership to group hotels by brand and by regions, or by ownership portfolios, and so on. In addition, there are drill-down functions in almost every portion of the software that allow all users to see the information behind the numbers, including invoices, accruals, and even group bookings.”
Premier will begin the migration to ProfitSage with all eleven hotels in February and plans to add another hotel in April. Kelley anticipates an immediate positive impact at the properties. “I know our GM’s are excited about having a better tool for forecasting and budgeting and I am confident this will lead to better profit margins,” she says. “Furthermore, we see ProfitSage as a great training tool for lower and middle management. As they develop in their careers, they will have a better understanding of the financial side of hotel operations and will be better prepared to make the step up to General Manager.”
“I strongly believe that the right technology will help us to continue our long term plans for growth and I believe ProfitSword is the right company to grow with,” says Rajendra Patel, President, Chief Operating Officer for Premier Hotels. “As a small., wholly owned company, it is important that we have the appropriate tools in place that can aid our managers in providing the best profit margins possible and still give them time to service our guests. As an owner, I want to make sure I am getting the very best product at a reasonable price. ProfitSage fit the bill.”
Founded in 2001, ProfitSword, LLC, is an innovator in web-based business intelligence software for the hospitality industry. The ProfitSage software provides seamless integration of data and real-time information to enhance hotel managers’ decision-making process and is now operating in nearly 100 hotels internationally. ProfitSword is headquartered in Orlando, Florida. For additional information on the company and its products, contact Mike Patton at (407) 909-8822.
Premier Hospitality, a Durant, Oklahoma based company owns and manages 11 resorts and hotels in the United States. Premier Hotels is also a member of the AAHOA. For more information on Premier Hospitality, contact Renae Kelly at (580) 924-0001.
|Also See:||InnSight Hotel Group Chooses ProfitSword to Provide High-Tech Business Reporting Solution / February 2005|
|ProfitSword, LLC Introduces New Web-based Business Intelligence Software Suite for Hospitality / July 2003|