Third-party management company operating 15 hotels and growing will soon add Aptech’s Execuvue and Targetvue solutions to fortify its financial management arsenal
Visit Aptech in Booth 3201 at HITEC Dallas
PITTSBURGH — August 5, 2021 — At the height of the pandemic, Millennium Hospitality Management Group set out to find an enterprise accounting system that would analyze data and key performance indicators better and ensure that its teams remained focused on energizing sales and controlling expenses by driving bottom line profits. With 12 hotels open and three under development in Florida, the U.S. Virgin Islands, and Puerto Rico, the third-party management company and soon-to-be ownership group based in Pittsburgh, selected PVNG from Aptech.
PVNG is a game-changer in the world of hotel accounting. It was built on Aptech’s 50 years of financial management knowledge, and it features the Accounts Payable, Accounts Receivable, General Ledger, Statistics, Financials, and Bank Reconciliation that today’s hotel operators are seeking with much-needed browser navigation.
“I’ve been in the hotel business for more than 30 years working not only for the major brands, but I have built several companies for ownership groups,” said Millennium Hospitality President and CEO Chris Chesebrough. “In 2017, I founded Millennium Hospitality with two hotels; today we have 15 and growing. The off-the-shelf accounting software we were using prior to COVID was okay, but we needed something far more robust to carry us into the future — especially at the rate we are growing. Already familiar with Aptech from my days working with Concord Hospitality and other hotel companies, I gave them a call. After comparing Aptech to several accounting tools in the market, we chose PVNG hands down. It gives our team the enterprise accounting tools they need today and the business intelligence and budgeting and forecasting tools that we will need tomorrow.
“Expense control is our biggest challenge today,” Chesebrough said. “As inflation rises, we must look at everything — from labor and supply costs to gross operating profits based on occupancy and revenues per available room. PVNG is enabling us to operate lean and mean by giving us tools to analyze data across multiple properties and brands at a moment’s notice and the ability to make quick decisions day-by-day, week-by-week, month-by-month to maintain cash flow for each property. Having the ability to look at trend reports and real time data simplifies our budgeting process as we continue to grow at a rapid pace. We cannot thank the Aptech support team enough for mentoring us through the onboarding process. In today’s new normal, knowing that we can place a call, and someone will pick up the phone and help us instantly, is a real game changer.”
Easy to Learn and Navigate Accounting
Accounts Payable is an integrated part of PVNG that controls vendor invoices from receipt to payment. The module gives users the ability to track open items and approve invoices for payment for better control. To quickly provide answers to billing questions, the system allows users to drill down into vouchers and check detail. PVNG’s General Ledger easily handles single-hotel, multi-property and multi-company accounting and incorporates budgeting, forecasting, and financials. The comprehensive system provides account inquiries that include journal entry and accounts payable drill down to verify posting details. PVNG’s GL imports journal entries from Excel spreadsheets to simplify data transfer into the system without manual rekeying. Journal entry options: Manual, Template, Upload (Excel, PMS, etc.). All PVNG functions are supported by reliable financial controls and audit trails are provided for all transactions.
“Aptech is proud to call Millennium Hospitality a valued customer,” said Aptech Director of Customer Service and Support Sam Costa. “Because PVNG was developed from the ground up specifically for hoteliers, it streamlines common daily procedures — like flexible reporting and statements with specific formulas for RevPAR, Occupancy, ADR and Flow Through — and makes them user-intuitive, allowing operators to accomplish daily accounting requirements with a minimum number of steps. We are especially thrilled that Millennium Hospitality will soon be adding our Execuvue and Targetvue solutions. When combined, this powerful financial management arsenal will equip Millennium Hospitality with the power it needs to not only streamline invoice processing, digital payments, PMS integration, payroll processing and more, but eliminate the need to correct and recombine multiple spreadsheets for consolidating and reporting. In the end, Millennium Hospitality teams will make smarter business decisions and answer questions on the fly using the AI-powered analytics that operators and owners require.”
To learn more about these financial management solutions, please schedule an appointment to meet with Aptech in Booth 3201 at HITEC Dallas, September 27 to 30 at the Kay Bailey Hutchinson Convention Center or visit www.aptech-inc.com.