ProfitSword, hospitality’s premier developer of business intelligence and data integration software, has announced the implementation of its ProfitSage operational and financial reporting solution by DKN Hotels, one of California’s premier hotel management companies. Providing hotel management, development and building services, DKN Hotels currently oversees more than 10 properties and now with the integration of ProfitSage into its data management and accounting process, can ensure the automated and accurate sharing of performance data from all locations in real time.
“When previously relying on a manual process to extract required analytical information from each property, our night auditors often spent countless hours having to compile and then re-verify the accuracy of data before it could be entered into our proprietary accounting software,” says Ana Almada, vice president of operations at DKN Hotels. “We had first tried another solution to see if it could serve as an efficient and automated interface between the different PMS solutions and our accounting program, but found that an array of data inaccuracies essentially made the integration useless. With ProfitSage now in place that can be fully trusted to always provide up-to-date and accurate information throughout our organization. This new technology will allow us to realize higher NOIs for owners as we bring additional managed hotels into the DKN portfolio.”
Data that DKN Hotels can now instantly access includes details on market segments from reservations and sales, daily revenue and key revenue indicators, daily labor, transactions for expenses and even revenue from credit card purchases. With ProfitSage able to provide pre-set levels of access to specific data, DKN Hotels personnel can also be sure of their ability to quickly locate information that is relevant to their exact needs.
“One of the biggest challenges that hoteliers face is being able to identify an effective means of integrating all of the disparate systems that may be in use at any one property or across a portfolio of properties,” says Paul Bennie, director of business development at ProfitSword. “This is especially true when it comes to business intelligence, where planning effectively critically relies on timely access to analytics from an array of platforms, departments, locations and personnel. We are honored to have been selected by DKN Hotels in order to overcome their data interface challenges, and are pleased that they now have a solution in place that is easy to use and always reliable in instantly sharing performance information the moment that it is needed.”
In addition to streamlining the integration and sharing of data, ProfitSage is also sought out by hospitality professionals for its industry-leading budgeting and forecasting abilities. Providing customized metrics and instant access to historical data, ProfitSage offers hoteliers the ability to forecast based on real-time changes to business patterns. With hotel profits subject to an array of external factors such as time of year, weather and upcoming events, ProfitSage further allows hoteliers to create multiple budget and forecast versions in order to account for ‘what-if’ scenarios, and ensure the highest possible level of business success.