Newport Hospitality Group has selected Aptech's PVNG as the cloud-based enterprise accounting solution for its portfolio of 50 select- and full-service hotels.
The hotel management company will begin use the platform to move data more efficiently from individual properties to a central accounting repository. To complement PVNG and enhance its financial technology stack, Newport will also add Aptech’s budgeting and forecasting solution, Targetvue, and eventually layer in its IBM Cognos-based ASP BI application, Execuvue.
“Our goal over the last several years has been to get off our legacy accounting platform and adopt a cloud solution that enables our people to work remotely without using a VPN to access the software,” Newport Hospitality Group CEO Andrew Carey said in a statement. “We were attracted to Aptech because it is an IBM and Prophix business partner. We know the technology will stay current and remain strong—something many well-known small business accounting solutions fail to do. Also, Aptech is 100 percent hospitality focused. They understand the needs of our organization from a financial management standpoint. Add to this Aptech’s set of budgeting, forecasting, and BI tools, and we found everything we needed from a single provider. Being able to eliminate finger pointing between multiple vendors when something isn’t working is a win in my book.
“We are eager to begin deploying PVNG to gain rapid access to relevant and timely information so everyone can improve decision making in cost effective ways,” he continued. “It comes with a robust reporting engine; how data is accessed and presented will be left only to the imaginations of those creating the reports.”
PVNG includes accounts payable, accounts receivable, general ledger, statistics, financials, and bank reconciliation modules, along with web browser navigation to upload the hotel data remotely. PVNG also contains OCR invoice processing, a range of payment options, drill-down capabilities in financial statements and reports and the ability to handle single or multi-property accounting. It can also be deployed as a hosted service.