Visit Aptech at HITEC in booth 719
PITTSBURGH, June 13, 2005 � Hospitality operators
gained a powerful ally this quarter when Aptech Computer Systems, Inc.
added Targetvue®, an enterprise planning application, to its suite
of Performance Management tools. Enterprise planning encompasses all elements
of budget creation as well as ongoing forecasting. Performance Management,
widely used in the manufacturing, banking and retail industries, is made
up of applications based on business intelligence that generate performance
data to guide business strategies.
Jay Troutman,
President of Aptech said, "The new Targetvue budgeting application can
be used as a free-standing enterprise planning tool by one property, a
hotel group, or multi-flag management company. In concert with Aptech�s
Execuvue business intelligence system, Targetvue gives operators everything
they need to drive true Performance Management that combines goal planning,
effectiveness monitoring, and real-time performance analysis." Targetvue
lets operators build flexible operating budgets and set goals for various
aspects of their enterprise and also link those goals to Execuvue. As a |
Jay Troutman |
company�s performance changes each day, Execuvue
monitors the fluctuations and compares them with budgets and goals created
in Targetvue. The result is an automated real-time heads-up display of
business performance measured against operating goals. Targetvue is accessible
via a secured online connection so operators are able to input property
data and check performance anytime from any location.
The cornerstone of Aptech�s Performance Management
Suite is the Execuvue Internet-based business intelligence system that
captures data from hotel systems and other sources, like Smith Travel Research,
and transforms it into easily understood graphics and reports. By combining
and analyzing revenue, expenses, occupancy, ADR, and other statistics from
a hotel company�s properties, Execuvue builds a database that gives users
instant access to specific information for better decisions. Timely online
information lets operators have direct control over the financial health
of their investments.
One of the first hotel companies to apply the
new Performance Management business intelligence tools is Sage Hospitality
Resources. Sage's Senior Vice President of Financial Services, Courteney
Parker, explains, "Targetvue is the automated budgeting and forecasting
part of our Performance Management philosophy going forward. We have
the experience in-house that guides our strategies; now we will have a
set of tools to automate the implementation of our forecasting and strategies,
and improve monitoring of our effectiveness. We are integrating the
Targetvue system with a new Business Intelligence (BI) system, Execuvue.
Execuvue is interfaced to our property's front office applications allowing
us to monitor and analyze our operations daily. The BI tool will
also allow us to integrate third party financial and market data to better
analyze all aspects of hotel performance. In addition to letting
corporate executives perform real-time business analysis, the new Performance
Management BI tools also provide a report card on management effectiveness,
a key element of achieving goals. The result will be greater profitability
for our owners and investors through increased efficiency and improved
management."
Most hotel companies still handle goal setting
and budgets utilizing customized Excel spreadsheets. Though a useful personal
productivity tool, spreadsheets are poorly suited for accurate, efficient
enterprise planning and performance management. Targetvue delivers many
operational functions not available with spreadsheet planning, including:
Workflow Management � Targetvue tracks
the status of each property�s contribution to the forecast and plan in
real-time, and provides managers with a single combined view of the entire
asset portfolio and where each property stands in the planning process.
Collaboration � Successful enterprise planning
depends on a high level of collaboration and property participation. Targetvue
provides secured web access to budgets and performance analysis for remote
stakeholders. Spreadsheet-based plans are rarely this flexible and often
inhibit collaboration and participation.
Version Control � Version control problems
occur when properties and management are working from dissimilar or outdated
spreadsheets. Poor version control limits effective business management
and accurate analysis. Targetvue users work from a singe, real-time operations
information database.
Aggregation � Targetvue provides real time
error-free consolidation for an entire portfolio and eliminates the necessity
of aggregating inputs from multiple users and spreadsheets for enterprise
rollups.
In the changing hotel business environment, operators
learned that simply monitoring financial and operational performance was
not enough to maximize profitability. What hospitality executives
needed was a way to monitor both goals and performance in real time to
fine-tune strategies. Sage SVP Courteney Parker said, "Hotel companies
like Sage Hospitality Resources are finally getting tools that let them
draw on their corporate knowledge to make the most intelligent decisions
based on accurate forecasting and reliable data analysis to increase efficiency,
management effectiveness, and investor profitability."
Performance Management in Hospitality
Performance management is made up of three elements:
planning goals, monitoring goals with balanced scorecarding, and analysis
of performance on a real-time, actionable basis. Widely deployed across
other industries, the concept is gaining acceptance in hospitality as a
way to improve return on investment for owners through more efficient reporting,
more accurate and actionable information for decision making, and improved
customer management.
In hospitality the three components of Performance
Management form a circle of processes that include budgeting and forecasting,
analysis measures to check performance against goals, and analytical tools
that drill down into all data sources such as Smith Travel Research, and
the property�s PMS, back office and point of sale systems. Hotel operators
can enter the circle from any point. The objective is to evolve accurate
decisions as quickly as operational data changes, which results in an improved
Performance Management capability and increased revenue. Aptech�s integrated
suite of Performance Management products for the hospitality industry combines
all three processes.
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About Aptech Computer Systems
Aptech
Computer Systems, Inc., based in Pittsburgh, Pennsylvania, leads the hospitality
industry in leveraging change by valuing human relationships and applying
technology to solve business problems for people.
Incorporated in 1970, Aptech is a financial and
operations technology solutions and service company whose products include
state-of-the-art back office, business intelligence and enterprise planning
products: Profitvue® , Execuvue® and Targetvue. Over 1,100 users,
including very large chains, multiple-property management companies and
single site hotels, utilize Aptech solutions to understand their financial
and operational data. By offering the hotel industry a solid resource of
hospitality professionals, and through its proven ability to evolve technology
offerings as the market dictates, Aptech is proud to have earned 100% customer
loyalty. Execuvue and Profitvue are registered trademarks and MyExecuvue®
is registered to Aptech Computer Systems, Inc. All other trademarks are
owned by their respective holders.
HITEC 2005 Sponsorships and Tutorials
At HITEC 2005 be sure to visit Aptech at Booth
719. Aptech will sponsor a Concurrent
Session titled "Ask the Experts" on Tuesday 21st at 11:15am-12:30pm,
that will feature a panel of experts fielding questions on property-based
systems which is expected to be highly entertaining.
Aptech will also offer a Tutorial titled:
"Performance Management / Business Intelligence" on Wednesday, June 22nd
from 10am to 10:30am in Tutorial Room A.
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