News for the Hospitality Executive
Ad-Hoc Reporting Tool Takes Center Stage for ProfitSword
FL – Monday, June 13, 2011
has officially announced that it will be unveiling the highly
anticipated ProfitWizard ad-hoc reporting tool at
the upcoming HITEC exhibition in Austin, Texas, June 21-23. ProfitWizard allows hoteliers to
create Microsoft Excel-based reports, models,
and graphs to solve mission critical business issues and support
decisions. The new tool uses standard
Microsoft technology including Excel and Analysis Services
ProfitWizard cubes derive data from a multitude of sources including the property PMS, POS, back-office accounting, timekeeping, spa, golf, and various other operational systems. Data is imported from these various systems and then mapped to the company’s chart of accounts/GL codes. The cubes also contain Smith Travel and guest service data. Using Excel, hoteliers can choose what data items they wish to use in an ad-hoc report that provides business intelligence, decision support, and financial performance management. Although the reporting capabilities are unlimited, uses may include performance analysis, “what-if” scenarios, labor analysis, service level and profitability analysis.
“ProfitWizard will be an add-on to the dynamic ProfitSage database,” says Mike Patton, Vice President of Software Development for ProfitSword. “The ProfitSage database contains all of the financial data for a hotel and numerous reports or variations of reports. However, that number is finite. By adding ProfitWizard, the reporting capabilities become limitless.” In addition, Patton has designed ProfitWizard to contain two standard data cubes – one for monthly or month-end data, and the other to contain daily data. Furthermore, the data cubes refresh very quickly giving users virtually real-time information at their fingertips. Patton also noted that customers can create additional Analysis Services cubes from almost any data source on their own (or engage ProfitSword to assist) and combine that data with the ProfitWizard data.
According to Tili Findley, President of ProfitSword, there were three basic criteria used to create ProfitWizard. “We wanted it to be fast, we wanted it to be simple to use, and we didn’t want it to cost a fortune,” says Findley. “By using the Microsoft Stack of technology, we were able to accomplish all three. The Analysis Services cubes refresh very quickly, Excel is used by virtually everyone, and because we are building upon our Microsoft SQL database, there are no additional licensing costs which are typically passed on to customers. Findley did point out that ProfitWizard also works well with 3rd party Excel add-ins like OLAP Office, but additional software is not required to use ProfitWizard.
ProfitWizard, along with several new features to the ProfitSage Financial Business Intelligence application, will be on display in booth #709 at the HITEC Exhibition in Austin, Texas, June 21-23, at the Austin Convention Center.
About ProfitSword | Founded in 2001, ProfitSword is an innovator in business intelligence software for the hospitality industry. ProfitSage provides seamless integration of data and real-time information to enhance hotel managers’ decision-making process and improve profitability. ProfitSword is headquartered in Orlando, Florida, and serves more than 30 management companies representing more than 800 hotels. For additional information on the company and its customized products and software solutions, contact Colin Findley at (407) 909-8822 or go to www.profitsword.com .
VP Business Development
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