4 Ways Food & Beverage Software can boost your bottom line

Food and beverage is a leading example of an industry under constant pressure to meet regulatory requirements. A systematized food management is a must if restaurants are to sustain with health codes and this can be achieved with the use of proper food and beverage software.

Businesses in just about any industry can adapt fully integrated hotel software to not only get finances, inventory, or sales data under control, but they can also use them to gain new capabilities and insights that a basic spreadsheet could never provide – insights that have a real impact on their bottom line.

So, what can hotel software do for your food and beverage industry business? Apart from keeping track of numbers, what can be the tangible benefits of a food and beverage software for a hotel or restaurant? We’re glad you asked. Here are the 4 surprising ways a food and beverage software can help your business succeed.

1.Inventory Tracking in case of recalls

Food recalls are every food and beverage industry company’s worst nightmare. But the way, they’re taken care of can make a difference between a company that survives and goes on to succeed – and a company that struggles. 

A hotel management software integrated with food and beverage solutions connected to warehouse management system can help a business monitor each and every product in its distribution supply chain. By tracking dates, quantities for each product, as well as each one’s movement, a hotel or restaurant would quickly be able manage perishable inventory and execute product recall automatically.

2.Efficient distribution for perishable foods

When you’re managing perishable foods, every second counts. Distribution must be immediate, efficient, and accurate in order to minimize costs and maximize product quality. It’s not enough to track products as they move through the distribution supply chain – you need to be able to identify ways to continuously improve. 

With a PMS’s inventory management and CRM capabilities, integrated with hospitality solutions, a food and beverage industry company can easily take orders, find the most efficient ways of transporting products, and track every step of the process, so that inefficiencies can be eliminated and customer satisfaction – and profits – can be uplifted.

3.Restaurant management made easy

Managing a restaurant can sometimes feel like a juggling act. Especially when you’re in charge of an entire chain, it’s next to impossible. By integrating hospitality management software with the POS system, restaurant chains can create accurate daily sales reports in real-time.

Giving management the full picture at every hotel and restaurant every day, things like monitoring cash, keeping track of cost vs sales performance and predicting future sales become easy by integrating food and beverage software in your property or restaurant. 

4.Improved customer service

Restaurant or hotel dining is not just about the food, at least from the customer’s perspective. Studies found that when customers eat out, they seek an experience that leaves them feeling good. Moreover, customers are more likely to spend more money and patronize a specific restaurant or hotel more often when they feel engaged. 

An improved customer service is all about delivering quality product at a fair price and delivering when it is promised which ultimately increases customer satisfaction. A food and beverage software helps streamline business process and internal errors in real-time. As a result of cost savings, better decisions and access to data, restaurants and hotels run more efficiently showing visibility in improved customer service.

In conclusion, the food and beverage industry is very competitive and highly regulated, therefore, investing in a robust hospitality management software is vital to operational efficiency and success of a food and beverage company. Consult QiK Circle Hospitality Management Software today to find out how we can help your company in streamlining operations, increase productivity and boost customer service.

A BRIEF GUIDE TO MAKE YOUR HOTEL BRAND STAND OUT FROM OTHERS

A BRIEF GUIDE TO MAKE YOUR HOTEL BRAND STAND OUT FROM OTHERS

As a hotelier, we operate in an extremely competitive industry. Not only do we have to compete with other properties nearby, we also have to differentiate our hotel against other properties. Even if you don’t have an unlimited investment budget at your disposal, there are plenty of things you can do to help your hotel stand out from the crowd and make sure the guests return next time and over again.

Display your hotel properly on website

Showcasing your hotel on the website doesn’t only mean posting some images or pictures and write some catchy texts beneath it. The visual content you post must reveal the value that your hotel has to offer. Even the minute detail will help to attract guests. Almost all hotels have a ‘Photo Gallery’ option, but in order to stand out from others, the pictures should communicate a story that involves your prospective clients. Also, make sure that the hotel’s website loads right away in two seconds, because the clients are usually impatient if they are using a mobile and will instantly drive away.

Offer attractive promotional deals

The best tactic to drive people in coming to your hotel is offering attractive promotional deals that are valid only when reserving a room through your website. You can even choose some reputed offline agencies which can book certain packages by offering unmatched deal to guests that they will not find elsewhere.

Putting these two tactics will upscale your sales through your channels and even increase the chances of returning guests.

Reward your loyal guests

Offering discounts and special services at hotel to regular customers shows them that you value their customer and keeps them coming through your door. Run a ‘Reward Redemption Program’ to get more reservations from your frequent visitors. Always keep the loyalty program module enables on your hotel reservation software. Make your loyal guests feel special by surprising them by providing them an exclusive offer of a free additional night stay if they book for certain number of days.

Get social

Your guests are more likely to be using the social media, therefore you need to stay connected with your existing customers and also your prospects. A Facebook page, Instagram or Twitter account can help you communicate promotions at your hotel in a way that doesn’t affect your marketing budget. Share news, photos, events and other interesting information with your followers. Also, keep track of online reviews of your hotel and make sure you interact with your guests on TripAdvisor and other major OTAs.

Call-to-action

Once the customer finds exactly what he is looking for on your website, he would like to make a purchase decision. Hence, it is significant that he is immediately provides with a necessary ‘Call-to-action’ or a ‘Book Now’ button.

A ‘Reservation Button’ must be all the time or most of the times clearly visible on a mobile or the computer screen. A prominent ‘Call-to-action’ button will help you keep the potential guests engaged on your website rather than driving them to an OTA page, because once they go away from your website, there are all chances that they lose interest in your property, and ultimately book some other property.

As hoteliers take step towards an improved digital marketing strategy, some common traits stand out – control, customization and differentiation. These traits shouldn’t be something that only big hotel chains should pursue, as with the right tools and strategy even small independent hotels can make sure that customers differentiate their hotel from everyone else’s. If you are perceived better than others, if you offer a benefit that becomes a motivating factor and if this benefit is truly out-of-the-box, then your hotel will stand out from the rest and it will be reflected in a higher ROI.

4 Tips for smooth Front Desk operations

4 Tips for smooth Front Desk operations

Booking rooms, answering to queries, assisting hotel operations to stay on track – the front desk is vital to your hotel and is a crucial point for guests. 

The Front Desk is where you can make a good lasting impression and one of your top opportunities for differentiating yourself from the competition. To ensure your front desk caters reliable and tailored service, consider the following four tips.

   1. Leverage your Hotel Management Software

A Hotel Management Software is the main command centre of the entire hotel operations and bookings. Investing in right software will ensure your bookings appear in real-time, whether they are made online or through agents over the phone.

With a PMS, your front desk can pull up a handful of information related to guest’s reservation, their preferences, and your hotel’s room capacity. Additionally, you can make notes about upgrades, requests, special occasions, allergies and other details which will help make the guest’s experience more personalized while giving staff the information they need to adjust or change a reservation immediately.

    2. Empower your staff

Front office staff ought to have all the characteristics they need to do their job effectively. This includes adequate training so that they can answer each and every question a guest might ask or guide them to the right person if they can’t.

Since hotel management system can provide your front desk staff in-depth information related to customer’s preferences, history and current booking, give them expanded responsibilities to change or enhance that guest’s booking – responsibilities that might once have resided only with senior staff. For instance, assign a task to the front desk staff to change a guest’s reservation or upgrade them if the right parameters are met. This will significantly boost up interaction while freeing up management to work on strategic tasks.

   3.Create Plan B

Try not to make your guests wait. Build flexibility into your hotel operations in order to keep your guests happy and run your business quickly and efficiently.

Make electronic check-in available or provide the hotel staff with a room tablet staff device and a proper hotel management software so that they can pre-screen guests as they wait, ensuring their reservation ids are correct. At the time of check-out, direct guest to electronic check-out options for a quick and efficient process. This smooth process will relieve the frustration of a guest who waits too long at the reception.

   4.Collect Feedback and utilize it

As a hotel manager, you can’t be at the front desk all the time, so you need your employees to be your eyes and ears. Approach your staff for their feedback on how the desk is functioning. Include a question in your guests’ post-stay survey about the front desk experience. They might give you great knowledge into the hotel operations that could be improved.

Travelling can be hectic. Check-in, check-out or getting feedback should never add more to a stressed traveler’s getaway experience. Make your front desk the first and the last place guests need to go for an exceptional service that they’ll never forget.

WHY YOU NEED HYBRID CLOUD’S FLEXIBILITY?

Every year, smart technological concepts enter into the market to tackle problems, solve issues, ease operations and keep the business dynamic. Among these new technology trends in the hospitality industry, ‘Cloud’ have been one of the most debated and adopted topics of all. Because a move to the cloud has helped companies become more efficient and gain bigger competitive advantage. 

Private and public cloud solutions each have their own mix of strengths and constraints – enough to make either one on its own insufficient as a hospitality solution. Public cloud services are quick and flexible, but don’t get along with the data and assets behind the firewall, and require more attention to security. Private clouds provide better governance and security but can slower to scale and more work to manage than their public cloud cousins. 

The solution is unified Hybrid Cloud that combines your assets’ private and public cloud resources into a single environment. The Hybrid Cloud is the future for many companies. Businesses large and small are turning to this blended infrastructure because it combines the best of both worlds: public cloud, private cloud and dedicated servers working together in any combination.

The below reasons will provide answer to your question to why you need Hybrid Cloud’s flexibility.

 

More Flexibility

A complete hybrid cloud system enables you to place workloads where they make the most sense.  You can adjust your architecture to take advantage of performance requirements that only dedicate servers can offer. In the meantime, you can meet financial objectives with contract term billing to meet regulatory expectations, while also taking advantage of utility billing for unknown or short term needs. Furthermore, hybrid cloud technology  offers rapid deployment times that comes in handy when deadlines get shortened or requirements change.

 

More Technical Control

Root access can be granted to apt personnel, and custom network segmentation can be defined to logically and physically segment your architecture where required. Unlike cloud solutions, a hybrid cloud software enables you to define if and where multi-tenancy is acceptable. You can also request customized hardware as needed to meet your specific application performance requirements.

 

Better Security

A general concern about cloud technology among hotels is security and multi-tenancy. A hybrid system facilitates these concerns by allowing you to choose dedicated servers and network devices that can isolate or restrict access. Moreover, your devices can be configured so your dedicated servers and cloud servers can communicate on a private network, turning what formerly used to be two separate solutions into a single integrated architecture.

 

Compliance Options

With improved security comes the ability to meet compliance requirements. Many auditors disapprove of multi-tenancy and require dedicated solutions for some (sometimes all) aspects of your hosted infrastructure. With proper network security, a hybrid solution can satisfy auditor requirements.

 

Technical Predictability

Developers work hard to create stable applications. Development and testing is a common use for cloud servers, but when the time comes for production you want to know exactly how your platform will perform. In many cases, public cloud will work fine, but some businesses may prefer to stick with dedicated servers for at least part of their mission critical launches. For example, dedicated servers can be configured to meet performance needs and then be supplemented with multi-tenancy cloud servers for excess traffic.

 

So, the next time you think about hotels, you just might think for yourself that how hybrid cloud-based management platforms like QiK Circle can unlock common barriers to productivity and increase flexibility, scalability and reduce operating expenses.

ALL YOU NEED TO KNOW ABOUT NIGHT AUDIT

The Night Audit process is compulsory for a hotel operation as it is part of the accounting section of the hotel. With guests’ check-in and check-out at all hours and paying their bill through various means of settlements, hotels need to ensure that guest folios and their transactions are recorded and reconciled in a proper way.

Generally, hotel night audits are performed around midnight, when most of the Point of Sale outlets are closed. Closing the day’s financial activities approves the work of the previous day’s shift and provides information for the next day’s shift. Experts recommend the hotel management team should go through the night audit reports daily to get and insight of the hotel’s occupancy and financial status. This routine ensures accuracy and reliability in the accounting. With the QiK Circle hotel management software, you won’t be compelled to perform the Night Audit every other day, but logically you cannot continue with the auditing for forthcoming days unless you have finished auditing process for the previous days. You just need to perform an audit one time during each day. The Night Audit process ends with the reports generated for the day which is called the Night Audit reports that summarizes the transactions and revenue for the day.

Once all the reports are generated and hotel’s daily activities are reconciled, they are sent to the management for review. With these reports, the hotel manager has daily figures of room occupancy and other miscellaneous figures that provide an opportunity to react and respond to slow sales period.

  1. Night Audit Room Details Report –Gives snapshot of the days in which rooms are occupied, available, checked-in, checked-outs, no shows and cancellations.
  2. Night Audit Counter Report – Gives details of the Cash and Credit Card receipts and withdrawals.
  3. Night Audit Revenue Report – Gives information on Room revenue, cancellation and no show revenue and other POS revenue. Revenue generated through various inclusions and business sources like Travel Agents, Corporates, Website etc. is also shown in this report.
  4. Night Audit Tax Report – Contains all the tax information on reservation revenue and other POS revenue like VAT, Luxury Tax, Service Tax, etc.

While the travel and tourism industry might have taken the hospitality business by storm, there still might be challenges faced by independent hoteliers in efficient streamlining of hotel’s daily operations. Simultaneous execution of multiple tasks, many times manually result in errors that hamper day-to-day operations.

Operating counters, managing check-ins and check-outs, managing reservations received through various different sources, housekeeping updates, point of sale and many more transactions need to be closed daily to make way for next day’s transactions. And the ultimate solution which can be taken is Night Audit. It helps streamline the array of daily operations performed in the hotel. A Night Audit not only takes charge of the daily operations mentioned above, but also helps in detecting any errors, verifies financial transactions as well as room revenue and takes corrective measures.

QiK Circle offers an intuitive Night Audit feature which allows a hotel to perform multiple functions such as:

  • Extend a guest’s reservation
  • Change room in case of split reservation
  • Early check-out of a split reservation
  • No Show charges
  • Close or carry forward counters and many more

With automated Night Audit reports, the task of the hotel manager has reduced extensively. With accurate information delivered at a click of a button, integration of night audit in a hotel is highly recommended in efficient management of hotel’s financial department.

5 Top Rated Hospitality Tips to Achieve Customer Satisfaction

Customer satisfaction is something hotels are always trying to achieve. Nowadays, customers start their hotel searches online and spend time comparing prices and reading reviews. And if the customer turns to be a smartphone or a tablet user, researching on various choices increases which means hospitality impression begin long before the customer walks through the door. So how do hotels satisfy their customers and achieve retention?

  1. Great websites improves customer experience

Customer satisfaction is highly affected by digital online presence. With customers getting their first information about hotels online, most of successful hotels have striking websites that are also easy to get found.

Websites with clear directions (including maps), nearby places of interest, numerous photos, contact details and great reviews are attractive and get instant booking without any hassle and boosts customer satisfaction.

 

  1. Guest satisfaction increases when you understand your customers

Customer satisfaction is not just a warm welcome with a smile, it’s lot more than that. Knowing and understanding a customer is at the heart of it. A customer booking its stay at a beachside resort has different expectations than a customer staying in a convention hotel. When you figure out how to meet the needs of the customers and to deliver consistently and effectively on those needs, you are being able to create overwhelming customer loyalty and attain higher number of bookings.

 

  1. Address customer complaints quickly to improve customer satisfaction

The hospitality industry can be rigid with requests and complaints coming in online, by phone, email or in person at the front desk. One of the key responsibilities of any guest service manager or customer service provider is customer satisfaction measurement.

By addressing to the requests or issues quickly, a hotel will have fewer complaints in return. When customers need anything from hotel staff (from clean towels to extra pillows, and room service to assistance with carrying their bags), they expect quick and efficient service. Waiting for an hour or more for these small services can lead to a bad impression of slow and inefficient service. In few words, a quick turnaround to requests can have a big impact on the reviews left by customers at the end of the stay.

 

  1. Train your staff for improved customer service

For a hotel to run smoothly and flawless, a hotel must have a well trained staff with an emphasis on working together for the benefit of the customer and this turns out to increased customer satisfaction. The end goal of any hospitality industry should be centered on customer satisfaction.

It’s not possible that a well run hotel will never get bad review. A certain percentage of customers will complain no matter what. Use this opportunity to learn from what let down customers and structure your system accordingly to achieve customer satisfaction. Take an extra step to adopt hotel management software with solid hotel management strategies to help put all things in place. However, a staff having good knowledge in catering a positive customer satisfaction with a strong sense of knowing customer needs will create an environment that attracts people in and leaves them with a lasting good impression.

 

  1. Track, analyze and report on customer satisfaction

Customer satisfaction is often linked to the level of customer communication. By creating a bond with the customers through communication, hotel management can see strong and weak points in customer service. Feedback can be gathered online in review section of websites combined with review cards in room and front desk logs. These tools, when used in a proper way, can be extremely helpful in staff meetings and staff training sessions.

 

There are number of customer satisfaction tracing companies and tools available. Some of the other tools include analysis of how customers’ book and what led these customers to opt for a particular hotel versus a similar one down the street. Gathering this type of information with hotel reservation service tools and using it properly can be a huge benefit in gaining new customers and repeat customers.

The hotel industry is growing yet competitive. Customers need exactly what they expect whether it’s a simple clean room or a luxurious room with many amenities. Having a well trained and hotel staff with customer recognition and customer satisfaction skills, the hotel will earn repeat customers as well as brand loyalty.

Is Humanless Reception the Next Big Thing?

With the boom of technology changing the face of hospitality industry, it is slowly turning into an unquestionable requirement for hotels to be able to connected to their more and more tech-savvy guests at all times. The hospitality industry is induced to offer higher level of personalized experience like never before and meet the growing expectations for value, quality, flexibility and responsiveness.

Some hoteliers have even taken a step ahead. Now there are unmanned hotels, or at least the only people there are the guests. You may say it isn’t possible, but it is – at the Henn-na Hotel in Japan, guests are serviced by robots, and at the Buddy Hotel in Munich, guests are greeted by a hotel kiosk instead of a receptionist to assist them in their check-in, getting a room key, etc. Yet another example that can be considered is that nowadays hotel management softwares are providing in-room tablets are no longer restricted to luxury hotels. This new innovation tremendously transforms the manual check-in & check-out process, gets rid of the paper thus making digital a reality for mid market hotels & witness luxury on the other end.

Is this the future? Perhaps it may be, however the question is “Can a hotel technology replace the human factor in the hospitality industry?”

We can undoubtedly say that these new type of hotels are an example of extreme digitalization in the search for competitive differentiation or a low-cost business model. But the fact remains that use of hotel kiosks and various in-room tablets is on the rise across the hospitality industry. Recent surveys show the main driving force behind this phenomenon is strive for boosting guest service and satisfaction. With a hotel kiosk or in-room tabs, the options for guest engagement can encompass every aspect of a guest’s journey from booking a room and checking in to the use of various extra services and checkout.

And all these hotel self-service innovations don’t necessarily replace the manned front desk. Despite what might be expected is that it can supplement it.

Guests not only have a direct control over their stay at their fingertips, but will effectively skip all tiresome queuing in the line at the front desk. And that’s not all. Nowadays guests can use in-room tablets or hotel kiosk to:

  • Select their preferred room
  • Opt for an upsell of a room, package or extra services
  • Check-in and get their room key cards
  • In-room tablets give excellent opportunity to raise room service, food or other miscellaneous requests without having the need to pick up the hotel landline. Also one can fully take advantage of the automatic lights control.
  • Check and settle hotel and restaurant bills
  • Use digital concierge and get real-time content with weather and flight information, entertainment options, local event updates, area maps etc.
  • Connect with the hotel staff via real-time messaging service, e.g. clean room requests, personalized food order requests, do not disturb etc.
  • Leave guest feedback or review of the hotel

At the point when all the exhausting formalities of check-in are addressed in a few clicks by the guest themselves, a receptionist can have much more time to properly attend to the other guests’ needs and with more ‘human touch’ too. The end result of this collaboration between hotel personnel and technology is more than positive – it is a success story of elevated guest experience and greater than ever sense of customer loyalty to the brand. Therefore, the face of the hospitality industry is changing rapidly as it holds one of its key segments – the unique personal touch of various hospitality brands.

6 Reasons – Why Hotel Management Software is in demand?

Hotel Management is a huge industry and it’s constantly growing. According to research, the hospitality industry is going to witness progressive growth by 2020 with the advent of Digital opportunities for hotel bookings and others. With that, one of the biggest questions asked – is hotel management software recommended is debunked with a positive answer, YES, it is an absolute necessity in today’s digital world.

Hotel Management Software has become an essential tool for increasing the operational efficiency of hotels. And in most of the cases, it is necessary to keep up with the level of business. Here are six reasons hotel management software is in demand.

  • Booking rooms become easier

Hotel software is a real blessing to any hotel. It makes the process of booking rooms easier and much more convenient. Without hotel management software, there is no way to sync hotel room bookings when they are made online with those made in person or over the call. Through HMS software, guests can check availability of rooms online and also book online. Also, providing guest to select the rooms with features suiting according to their needs.

  • Avoid conflicting reservations & overbooking

Online Reservation software is a standout amongst the most searched after any other forms of software that allows guests to check availability of the online booking of their rooms. The information gets transferred to the hotel system so that no conflicting reservation can be made as all the reservations are automatically recorded immediately. A standard hotel booking system integrated with Channel Manager System will also help ease out the conflict of overbooking. Having a Channel Manager will help hotels preserve their reputation and image by giving their guests a seamless and reliable reservation process, in addition to helping maintain order and efficiency while preventing booking errors.

  • Simplify other operational works

Investing in Hotel Management Software can be a one-stop solution to simplify all the hotel operations efficiently and effectively. The software having in-built features to ease down several operational works such as the Point of Sale, Hotel Accounting, Channel Manager and Sales CRM can be very much beneficial as it gives a comprehensive solution to the hotel. Hotel Management Softwares such as Opera’s Oracle Hospitality Solutions, QiK Circle Re-Engineering Hospitality & Ezee FrontDesk is considered favorable for any hospitality enterprise.

  • Gives centralized control

Different hotel software modules are controlled by the hotel manager or administrator. This centralized control makes it easier to deal with diversified aspects of hotel management. Hospitality Management Software gives complete control over the property. This way all the activities going on in the hotel such as Front Desk, Housekeeping, Restaurant operations, etc can b modified and monitored in real-time.

  • Creates a strong database

One of the advantages of integrating a hotel software system in your hospitality firm is that it can create a strong database to manage entire hotel services. Database about guests, invoices, transactions and reservations can be easily stored in the hotel software without getting freeze. The software can be utilized to generate invoices, to monitor customer accounts and also the details of all the financial records which are required to maintain the hotel accounts.

  • Provides value for investment

Switching to Hotel Management Software for your hospitality business can save time, money and most importantly increases customer satisfaction. With the help of hotel software, mistakes like overbookings and accounting errors can be done away with. Apart from that accurate bills and precise receipts can be generated and human errors are totally ruled out. Adopting hospitality management solution will offer outstanding value for the cost.

With all the above benefits, hotel business can become a lot easier than ever before. No wonder, there is an increasing demand for hotel management software in today’s world.

How Point of Sale Boost Sales?

A Point of Sale system lets your business ring up customer purchases quickly and easily. What many small restaurants and food joints don’t realize is that today’s POS systems can actually help their business sell more too. This software helps in many different functions, from speeding up the billing process to maintaining customer relations.

Let us observe a few points which highlight how Point ol6Sale (POS) software boosts the sales for an increased profit in the hotel business.

  1. Enhances relationship with your customers

A Point of Sale software not only reduces billing time but also enhances customer relationship by storing their information. Interacting/greeting a customer with personalized information on a person’s lifestyle, work or location makes a customer feel special. You can also track your customers purchase habits and demographics. This way, customers tend to visit the store or restaurant over and over again to enjoy the personalized approach of the sales staff. Likewise, chances are high that satisfied customers can recommend the store to their friends and family.

Apart from getting details like name, address and contact number, it is important to also ask for email addresses. By gathering all the customer email address, you can communicate with them via email newsletters. You can also reach out to them via text messages and social media such as Facebook and Twitter. Thus, a bigger customer base translates into higher sales.

 

  1. Maintaining restaurant inventory

You can use your Point of Sale software to keep track of your inventory and reduce shrinkage in your restaurant. Shrinkage is the inventory that disappears from your restaurant due to misuse, waste or theft. Many restaurants and food outlets do not monitor all inventories since it can be time-consuming to enter each and every single item that goes through the kitchen.

You can keep track of certain things, such as high-risk items such as liquor or high-cost items such as meat. By keeping track of a few items and updating weekly, you can watch out on your inventory and reduce shrinkage in your restaurant.

 

  1. Creating schemes and promotions

Most businesses offer different types of schemes and promotions for their restaurants, bar and food joints from time to time. A Point of Sale software helps to track the current schemes and promotions and further help you decide what menu item to use for your food promos. It can also help you decide which food items are often ordered together so you can do cross-item promotions plus create loyalty programs. Such features improve sales and generate high revenue.

 

  1. Determines your restaurant’s best and worst days

You can use your Point of Sale software to determine your restaurant’s best and worst days for business. The point of sale system can easily tell you which days of the week are slowest. This gives you an opportunity to create restaurant promotions during off nights. For example, if Wednesdays are slow for business, you can have a “happy hour” promotions on that day only to increase sales. This can help you in acquiring more customers and therefore more profits.

POS software certainly helps in increasing sales and as a result, has a direct influence on increased profitability. So, next time you feel any doubt about using the POS software, think about the goal of your business – i.e. making profits. You will definitely find the advantages of using POS system and make a profit to your restaurant business. Find the best POS software that suits your business type.

How to Measure ROI for Hotel Software

Every technology investment needs to ultimately convert into positive financial outcomes. Otherwise, what’s the point? Aside from building or acquiring the hotel itself, obtaining hotel technology is one of the most expensive investment a hotelier has to make. Without efficient all-in-one hotel software, you will not be able to automate and streamline all hotel operations, boost revenue, ensure maximum output from hotel staff to attain guest satisfaction. After evaluating the hotel software on cost-effectiveness and features, the next big factor in selecting the right hotel software is its Return on Investment (ROI).

Hotel software’s have a lot to make it easy for both guests and hoteliers. In order to get an estimated return on investment, the net gain from the investment and the total cost of investment needs to be measured.

Reduction in Cost of Staff

  • Reduction in man-hours spent on the front desk for check-ins and check-outs
  • Reduction in man-hours spent on amalgamating the accounts for rooms and other POS terminals like restaurant etc
  • Reduction in man hours and number of staff required for managing rates and availability across multiple distribution channels (OTA, GDS, Web, Travel Agents etc)

Improved Sales Numbers

  • Increase in number of bookings through Web Booking Engine
  • Increase in occupancy through no blocking
  • Increase in occupancy through real-time updation of inventory across multiple distribution channels

Reduction in Losses & Human Errors

  • Elimination of losses due to errors in manual entering and updations
  • Elimination of losses due to mistakes in consolidations
  • Reduction in losses sustained due to guest denials
  • Reduction in revenue loss due to overbooking

Better Revenues

  • Increase in average daily rate through integrated revenue management systems
  • Increase in revenue due to report analysis and tools

Long Term Revenue generating factors

  • Repeated customers because of an improved guest experience
  • Increase in reservations due to positive guest feedback because of an enhanced guest experience
  • Savings due to easy integration with other hardware and software systems used by hotels
  • Savings due to the adaptability of hotel software to change in market trends eliminating the need for multiple future investments

The above points are some of the benefits from the hotel management software that can be used for measuring the profit from the investment. For getting a measure of the total cost of ownership both the direct and indirect costs need to be represented.

Cost of Purchase

Maintenance Cost

Cost of Staff required for the software

Cost of training staff on software

Cost of software upgrades and updates

Customer Support Cost

Cost of reengineering your hotel processes to adapt to the software system

Cost of data security, data backup and infrastructure for maintaining the software

 

The above list contains some of the primary expenses associated with the hotel software. Having a low cost of ownership verses the gains from the hotel software is one of the noteworthy measures for making an investment in hotel management software. This is one of the main reasons why Hybrid Cloud-based hotel management software are becoming popular with the small and mid-size hotel segment.

In all cases, it is important not to ignore the invisible benefits of having hotel software while calculating the ROI on hotel software to be able to achieve improved bottom line now and in the future. Stick to what works best for you and deliver what your guests seek from you.