Suddenly a message popped on a guest’s message from a leading hotel, who is about to stay in the hotel to spend some quality time with their loved ones. The guest is happy with all the arrangements, as the hotel is regularly connecting and updating him over the upcoming leisure plans. The guest is equally excited about the contact less entry into the room with his family. Thanks to the technology or measures evolved post covid to make the stay comfortable. Usually, the Property Management Systems look after the reservations and alerts and reminders, constantly interacting the guests through notifications with updates. Right from booking or reserving a room till the checkout process, everything is automated using the Hotel Accounting Software and integrated technologies.
In the business landscape technology is playing a very crucial role, with over 60% of world’s population using the smart phones and internet assisted devices, the technology is completely shaping the new way of doing business. The hotelier can directly reserve the room for a guest sitting in any part of the world. It is the great comfort the technology offers to the citizens. This level of comfort was unimaginable three decades ago. This insane transformation is making all the accounting and other processes simple and understand data driven insights with artificial intelligence is a new trend.
Artificial Intelligence: Why has usage of artificial intelligence become more relevant in the present scenario? Because it reads the processes thoroughly, for instance if a guest frequently visits or stays in a property during summer vacation with family, then AI reads such patterns and creates a list of such customers and sends them notifications and reminders, offers and discounts. It helps maintain brand loyalty. This is a very small aspect of the hospitality industry. But the advanced Hotel Accounting Software accomplishes complex accounting tasks which usually demands more work force.
Hotel Accounting Software – Driven by Artificial Intelligence
The level of transformation the hospitality industry which is going through now is insane. A guest can enter the hotel room, just with QR codes without waiting at the lobby, the entire check in process is verified online, the documents and other credentials. Guests will be served with all the luxuries, without wasting his time, waiting at the lobby. All this is possible with evolution of technology.
Objective Character Reading Technology – The customer need not carry any documentation, as all the invoices are documented in the system and the payments or entries are directly taken from the invoice copy. They are segregated into respective Accounts payables and receivable sections. With invoice automation the documents are safe, the costly management of paper-based invoices is avoided at every stage. It is the inbuilt feature of Hotel Accounting Software; a hotelier need not purchase any software.
Automation in Accounting
In the traditional way of accounting, accountants used to drown in the sea of papers, with vendor bills, pending bills and variety of documents, here apart from scanning the invoices, it is quite easy to approve the invoices. In addition, the entire banking mechanism is connected through a service provider, where the bank reconciliation becomes a simple process. Where, all the transactions gets reconciled automatically, without requiring any human intervention.
Get the convenience of bank-to-bank money transfers with the help of Automated Clearing Housing Network (ACH). Printing checks is easy at the comfort of your business location. You can also pay cash directly to the vendors. Exclusively for Canadian clients, there is a cash credit offer, where the employees can directly credit cash into their accounts.
With the advent of internet and technology, transactions have become global, banking has become local, and the accounting team can easily handle millions of transactions.
There is exclusive section DS Cash which enables the hotel team to update daily cash and receipts on daily basis, further the backend team can approve the payments and ensure quick reconciliation and bring great transparency in the accounting process.
Whether you have one hotel or a portfolio of properties, Manage financial operations comfortably irrespective of geographical location. Gain insights into your entire corporation’s accounts payable amount with a detailed summary of bills and payments on the dashboard.
Interactive Dashboard: One-page multiple solutions, a single dashboard of the Hotel Accounting Software throws light on Key Performance Indicators, Accounts Payables and Receivables, allows you to see the budget allocation to various departments and returns earned out of it. This applies to multiple properties, a single window for multiple solutions.
What is not possible, a few decades ago is now easily available now. And the technology is providing the ease of doing business and providing multiple opportunities to grow.
Conclusion: Hospitality industry underwent insane transformation. From basic invoice process automation to generating crucial financial reports, Nimble Property, the Artificial Intelligence enabled Hotel Accounting Software helps you automate and transform your business.
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