ProfitSword shares business-intelligence best practices guide

Topics analyzed within a new guide from ProfitSword include the need to ensure real-time access to performance data from across an organization, such as accounting, labor and sales metrics. Photo credit: ProfitSword

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." 

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


Click here to download a copy of the guide.

Suggested Articles

The partnership aims to help restaurants streamline online orders from apps like GrubHub, UberEats, DoorDash, Chownow, Caviar, Postmates and others.

Two conferences traditionally held in the first half of each year are rescheduling for the second half.

In October, visitor arrivals were down 90.4 percent compared to 2019 and hotel occupancy was below 20 percent.