Hospitality is a fast-paced and constantly changing industry which receives heavy impacts from the consumer behaviours and technological advancements. More and more hotels compete against each other to win the travellers' hearts; they all face the same challenge: mining the overflowing mountain of data to offer their clients with what they most desires.  

Objectives and Key Results (OKRs) form a helpful goal-setting framework that helps improve the engagement of both the employees and managers, keeping focused and motivated to thrive for organisational success. OKRs are basically the process of defining your organisation objectives and tracks the outcomes of the progress after a specific period of time.

The success of an organisation is normally defined by growth. And a constant and sustainable growth would require focused leaders and a workforce that understands their collective aims and priorities. Yet, ensuring the alignment between the leaders and their workers toward mutual goals is a challenging task without a suitable goal-setting and progress-tracking method. This is where OKRs come in.

In today’s highly competitive market, it is vital for hotel owners and operators to implement new and effective strategies in order to stay relevant and safeguard their bottom line. 

Integrating your ERP system with an EPM solution provides unparalleled benefits to your business. So how does this integration work? How can you consolidate your ERP system data with Infor d/EPM?

You hire a foreign manager, in your opinion, who has the right skills and experience. Your expectation is that the new manager will drive the company in the right track and double profit. However, for some reason, the manager doesn’t perform well or meet your expectations. The question here is do you attempt to work out the problem with the new manager or do you fire them?

Read more: 3 Evolving Aspects of Leadership & Management in the Digital Age

Today, most hotel operators view the need to progressively improve their revenue management capabilities as a strategic imperative worthy of  garnering ever-increasing amounts of attention and resources, given the opportunity to improve financial performance in highly predictable ways. 

In today’s self-service business environment, enterprise resource planning (ERP) solutions are invaluable for consolidating data in a single place—but that’s only half the story. Optimised for back-office transaction processing and operational process support, ERP systems lack the agility to support complex financial processes.

Robert Haft, an American HR consulting firm, has conducted a survey on 150 Singaporean CFOs to collect the results and the accuracy of their hiring decisions. Surprisingly, the majority of the surveyed CFOs (98%) admitted having made the wrong decision when hiring new employees. With 24% (one in four) of them took only two weeks to realise that they have hired the wrong person.

If your business is in need of a full-fledged reporting and financial performance management software with built-in deep analytics, business intelligence, plus the capability to help you gain a holistic real-time view of the entire business performance, Infor d/EPM might be the one that you’ve been looking for.