The Hotel Nikko San Francisco has installed PVNG enterprise accounting and Targetvue budgeting and forecasting solutions from Aptech. The boutique hotel in Union Square needed new financial management tools capable of delivering macro and micro analysis of numerous data sets and assisting with planning for future investments into the property.
“When we began searching for technology to replace our previous solution, we wanted tools that could drill down into every account and help provide context behind our performance,” Vincent Rafanan, Hotel Nikko San Francisco chief financial officer, said in a statement. “Budgeting and forecasting was a top priority. Previously, we relied on a standalone system to oversee these processes. Once we met with Aptech, we immediately saw how easy it was to connect Targetvue to the cloud and to PVNG, then share information seamlessly between the two systems. Today, our team is easily comparing and contrasting any scenario from month to month. These tools have been invaluable for digging into last year’s reporting and preparing forecasts for the year to come.”
Targetvue is designed to provide “one version of the truth” throughout an organization. By providing variance analytics, data visualization and version control, this tool helps hotels meet future growth goals by utilizing a single, centrally maintained set of database models. Through the software, hotels can eliminate the need to correct and recombine multiple spreadsheets for consolidating and reporting.
PVNG includes accounts payable, accounts receivable, general ledger, statistics, financials and bank reconciliation modules and web browser navigation to let hoteliers to upload their accounting data remotely. PVNG can be deployed as a hosted service and also offers OCR invoice processing, multiple payment options, drill-down capabilities in financial statements and reports as well as the ability to handle single or multiproperty accounting.