ProfitSword, a developer of business intelligence and data integration software for the hospitality industry, has published a guide demonstrating how hoteliers can leverage the latest business-intelligence strategies and their organization's performance data to safeguard hotel operations and revenue during times of economic hardship. Entitled, "Staying One Step Ahead of Economic Uncertainty with an Effective Business Intelligence Strategy," the guide is available to hoteliers across the industry.
With the hospitality industry facing unprecedented unpredictability as a result of the ongoing health crisis, the ProfitSword guide demonstrates how hoteliers can still create quick, yet fully informed business strategies that take rapidly shifting market conditions and priorities into account. Topics analyzed within the guide include the need to ensure real-time access to performance data from across an organization, such as accounting, labor and sales metrics. By being able to routinely rely on the availability and accuracy of such information, the guide demonstrates how hoteliers are not only able to instantly determine the current needs of their business, but can also better forecast where the market is headed and what initiatives need to be implemented in order to ensure business survival and a full recovery.
"Hospitality professionals are regrettably facing one of the most difficult periods in the history of the industry, but by making this guide available we hope to provide each hotelier with the assurance that they still possess the ability to plan ahead for the ultimate success of their business," said John Crutchfield, COO at ProfitSword."Hotels are experiencing extreme shortages of revenue affecting labor and resources, which unfortunately increases the likelihood of making hasty and error-prone decisions during an economic downturn. By following the best practices outlined within the guide, company leadership can lessen the effects of an economic downturn, by obtaining vital clarity on what their next steps should be in navigating current operations in a way that protects their assets along with the interests of guests and staff."
Click here to download a copy of the guide.