ProfitSword, a developer of hospitality-related business intelligence and data integration software, is partnering with Event Temple, a provider of hotel and venue sales and catering software, to provide hoteliers with seamless and complete visibility over group, catering and event sales performance activity. Through the integration of Event Temple's hotel and venue management platforms with ProfitSword's suite of business intelligence products, hospitality professionals can obtain an in-depth, accurate analysis of current sales efforts to optimize revenue performance across an entire organization, or quickly re-evaluate and change sales strategies in fluctuating market conditions.
Designed to streamline the availability of data from a single accurate source, the integration automatically combines group and event related performance metrics and key performance indicators in real-time within the ProfitSword user interface with operational and financial results for access whenever needed. Able to compile and organize data by department, property, group of properties or for a portfolio as a whole, the integration allows a company to quickly disseminate actionable data across the entire organization to improve forecasting and budgeting accuracy, fiscal accountability, communication and overall performance.
"Hospitality businesses generate an enormous amount of sales data on a daily basis that can prove essential in understanding how operations are faring in terms of profitability and efficiency. Both Event Temple and ProfitSword share the goal of ensuring that hoteliers have effortless access to such metrics in order to maintain a successful business," said Bob Graham, CEO at Event Temple. "With hotels more than ever seeking to locate opportunities to generate much needed revenue, we are proud to partner with ProfitSword in providing a solution that can help a company identify areas where group-based sales can be improved and that can demonstrate how efforts need to be revised based on sudden fluctuations in the marketplace."
Via the integration of Event Temple with ProfitSword's forecasting and budgeting solution, ProfitSage, hoteliers can project and analyze upcoming performance for an array of group-based activities including weddings, conferences and business meetings without requiring compiling and verifying the accuracy of information. Also offering the ability to integrate with ProfitSword's ProfitPace tool, hotels can further analyze group and event sales revenue on a year-over-year basis to identify any shifts in traditional performance norms and monitor the sales productivity of individual employees and sales teams, ensuring that sales targets are being consistently met while providing the opportunity to implement additional training for staff members requiring further guidance. Using ProfitSword's automated reporting abilities, hospitality professionals can also always remain up to date on their entire company's sales performance results.
"With hotels experiencing a significant reduction in labor force size, it is increasingly difficult to dedicate the resources necessary to analyze performance analytics that are nonetheless critical to strengthening revenue-earning capabilities while locating potential alternate sources such as with group-based sales," said John Crutchfield, chief operating officer at ProfitSword. "Our collaboration provides tools and data automations to the industry to help sales teams overcome this challenge by removing time-consuming and potentially error-prone manual data-collection processes and improving their visibility into actionable data, and we are honored to work with Event Temple in ensuring that hoteliers can stay fully informed over the effectiveness of their group sales strategies."