In-depth integration provides both single properties and entire hotel portfolios with ability to ensure full data integrity between accounting and business intelligence systems.
ORLANDO, Fla. – (June 12, 2019) – ProfitSword, a leading provider of Business Intelligence solutions for the hospitality industry and WVC RubixCloud (WVCRC) providing best-in-class technology and accounting services, 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 best-of-breed accounting solution along with ProfitSword’s robust 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.
“With our new partnership and comprehensive technology solution with WVC RubixCloud, hotel owners, management companies, and even individual hotels who need accounting services can now easily use ProfitSword’s technology stack. We have simplified our implementation process and created a plug and play solution at a great price with a partner who matches our expectations of customer success.” said Paul Bennie, Director of Business Development for ProfitSword.
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.
“ProfitSword and WVC RubixCloud share a commitment to providing customers with advanced tools that ensure the ability to act upon data that is always accurate and that therefore can be fully trusted to deliver the highest level of operational efficiency and revenue growth,” said Jennifer Kinzel, Director at WVCRC. “Our partnership and integration is a natural fit for both company’s solutions, each complementing the other to provide customers with a full understanding of their business and financial environment in real-time so as to identify and build upon opportunities for even greater success.”
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.
“The integration between WVC RubixCloud and ProfitSword has been a differentiator for us. We now have a uniform system that provides real-time accounting data that we use to compare our hotels so we can make better business decisions,” said Jon Roumaya of Key Hotels in Toledo, Ohio. “We no longer have to wait a month for our financial statements, instead we can view our activity on a daily basis right from our phones and make immediate changes should the need arise. This combined solution has dramatically impacted our organization for the better.”
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.
With ProfitSword set to exhibit its latest innovations at HITEC Minneapolis, taking place June 17-20, those interested in scheduling a demonstration at booth #915 during exhibition hours should contact Michele Mott at [email protected].