TRG Blog

What are the Functions of a Hotel's Finance Team?

Posted by Rick Yvanovich on

There are several functions in the finance team of hotels, each serving a different purpose in hotel financial management. Whilst some of these may overlap, they include: financial accounting, cost accounting, tax accounting, auditing and managerial accounting. With the advent of technology, hotel accounting software has gained a significant role in helping these finance function of hotels.

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Topics: Financial Accounting Management Software, Infor SunSystems, Hospitality solutions

Must-have Qualities of Hotel Accounting Information

Posted by Thai Pham on

In today’s modern business environment, accounting is not solely about getting the numbers right anymore. It is how the data generated from accounting can contribute to decision-making, and thus drive growth. The same applies to accounting for hotels.

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Topics: Financial Accounting Management Software, Hospitality solutions

Should Hoteliers Consider Implementing Cloud Applications?

Posted by Thai Pham on

The first simple hotel management system was introduced back in the 1970s, allowing hoteliers to confirm on-site reservations. By the early 1990s, the first database management system was marketed, allowing for digital records, which made accessing information much easier than Excel spreadsheets. Now, the hospitality industry is amidst the "cloud computing boom". The impact of cloud-based solutions is enormous: it revolutionises how the managers run their hotels/restaurants and interact with the customers.

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Topics: Cloud Computing, Hospitality solutions

Providing Stellar Service for Hotel Guests with Social Collaboration Tool

Posted by Rick Yvanovich on

You and your hotel staff are constantly flooded with information from emails, text messages, walkie-talkies, online meetings, and, of course, telephone calls. But your communication technologies are imperfect, because they exist in silos and are disconnected from core systems and processes. Because of that, your employees may lose key facts, fail to make necessary handoffs, and miss connections and opportunities to provide stellar service.

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Topics: Hospitality solutions

A General Look at Infor d/EPM Hospitality

Posted by Thai Pham on

Infor is a leading provider of business application software with more than 73,000 customers, recognised for providing specific functionality to the hospitality industry, speeding up deployment through built-in reports, graphs and key performance indicators (KPIs). At HITEC 2015, this business application giant announced the great effort and plans for its hospitality division.

In particular, Infor d/EPM for Hospitality is designed with the advanced functionality to help implement and facilitate analysis. Another great feature is Office Plus which integrates directly with Microsoft Excel.

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Topics: Business Intelligence, CFOs, Enterprise Performance Management (EPM), Hospitality solutions

OLAP Technology: Handling Big Data in the Hospitality Industry

Posted by Nhat Nguyen on

The hospitality sector serves millions of customers every day. Each of them checks in and out with his or her own expectation. Some only need to have a room to stay during a business trip but some other customers also demand other services and spend thousands of dollars on restaurants, dining, entertainment, sports, and spa treatments.

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Topics: Business Intelligence, Hospitality solutions, Analytics, Enterprise Performance Management (EPM)

Why Hotel Chains are Investing in Business Intelligence

Posted by Rick Yvanovich on

For a hotel chain, which may own, operate or manage thousands of properties around the world, revenue management truly is a daunting challenge. In recent years, many hotel chains have heavily invested in Business Intelligence (BI) to drive their revenue management. The massively powerful data analytics capabilities provided by Business Intelligence solutions have created giant leaps in revenue optimisation of hotel chains.

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Topics: Business Intelligence, Analytics, Hospitality solutions

Automating Financial Forecast for Hotels with Cloud Systems

Posted by Rick Yvanovich on

How can a hotel chain whose properties are located in many different countries reliably provide its financial professionals with advanced forecasting and reporting capabilities around the clock and across multiple devices? Find out how Kempinski Hotels - the Europe’s oldest luxury hotel group – achieved such a feat.

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Topics: Enterprise Performance Management (EPM), CFOs, Financial Accounting Management Software, Hospitality solutions

How Data Analytics is Changing Hotel Revenue Management

Posted by Rick Yvanovich on

The importance of revenue optimisation or revenue management in the hotel industry cannot be overstated due to its critical importance to the Hotel bottom line. Basically, revenue optimisation is being able to sell the right room to the right guest, at the right price and at the right time. It requires plenty of actionable information in a timely manner, which is so often unattainable. 

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Topics: Hospitality solutions, Analytics, Business Intelligence

[Infographic] Hospitality trends to look for in 2017

Posted by Rick Yvanovich on

These are the lifestyle trends that will be shaping the hospitality industry in the next 12 months, according to Muriel Muirden, a renowned hotel designer and trend forecaster.

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Topics: Hospitality solutions

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 Rick Yvanovich
 /Founder & CEO/

With TRG International Blogs, it is our mission to be your preferred partner providing solutions that work and we will make sure to guide your business to greatness every day.

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