Time consumption is the major drawback in the business process. In the hospitality industry, where swift service is expected by the guests, agility in delivering the service is required on a large scale. In terms of serving food and beverages, it is hard to replace human beings, though some restaurants backed by tech savvy hoteliers are using robots to serve the guests, it is not fully materialized. Though it looks cinematic, assuming robots serve food, change is inevitable. Anything can happen as we are using the advanced high-end AI backed Hotel Accounting Software’s to automate the accounting process, anything is possible.
The entire accounting process is automated, reducing the accounting hours to 70%. This massive transformation is due to the evolution of Hotel Accounting Technology. No matter where you stand on the globe, view your hotel financials, occupancy rate, revenue per available room, and all the key metrics. Apart from purchasing software, seeking Bookkeeping Services for accounts management is also in practice. There are plenty of reputed organizations like Nimble Property offering services to clients from virtual locations.
Virtual Bookkeeping Services
Virtually, a certified accounting professional looks after managing your accounts. The entire finances of your hotel, managing transaction records, organizing them, reconciling the accounts, creating weekly reports, preparing your tax ready, everything is handled by the Bookkeeper.
No confusion gathering financial data, during tax season. Embracing technology means utilizing the time to the fullest to attract investment or grab new opportunities.
The hospitality business attracts revenue from a wide range of sources. Managing all the money and maintaining the cash flow is not easy, so seeking Bookkeeping services, will help businesses multiply profitability and reduces operational cost and time. Nimble Property built by experts ensures transparency and continuous support from Chartered Accountant.
How Nimble Bookkeeping Services Helps Hotels Reduce Operational Costs?
The hospitality sector is dynamic, diverse, and financially intricate. Hotels must handle a variety of income sources, from spa services and event bookings to food services and room reservations, all while adhering to stringent financial and tax laws.
Nimble Property is trusted by more than 2,000+ hotel companies across USA and Canada to simplify their accounting processes. With more than 120 trained bookkeepers and expertise in more than 20 top accounting platforms, Nimble is revolutionizing hotel financial management.
A mid-sized hotel chain in the United States that offered event spaces, dining options, and recreational activities was having trouble with:
Challenge: Time-Consuming and Costly Financial Operations
- Exorbitant expenses for operational accounting
- Inconsistent financial reporting
- Laborious data collecting throughout tax season
- Unclear compliance with local and federal financial regulations
- Challenges combining accounts from many properties
Solution: Nimble Property’s Industry-Specific Bookkeeping Services
The hotel business revamped its financial management and bookkeeping systems in collaboration with Nimble Property. Important actions included:
- A dedicated and Certified Bookkeeper.
- Centralized financial data.
- Integration of PMS and POS systems.
- Dashboards to track real-time financial data.
- Automation of routine tasks.
- To lower audit risks and boost investor confidence, Nimble also made sure that all financial procedures complied with national and local regulations.
Results: 70% Time & Cost Saving
The hotel chain underwent significant changes in a matter of months:
- Operational accounting expenses were reduced by 70%.
- Hours of manual data entry and error-prone spreadsheets were eliminated.
- Tax season was made smooth with centralized access to correct records. Improved visibility of cash flow, which makes it possible to make wiser investment choices.
- Management bandwidth was freed up to concentrate on customer satisfaction and business growth.
What Makes Nimble Property Unique?
More than 120 Certified Bookkeepers guarantee professional management of finances unique to the hospitality industry.
- 20+ years of experience with software, including Sage, Xero, M3, QuickBooks, and more.
- Worldwide Reach: In a variety of hospitality sectors, Nimble has more than 2,000 active clients.
- Compliance-Ready: All financial activities are conducted in accordance with the law.
In summary, Nimble Property’s expert bookkeeping services are a strategic partner for expansion in the hospitality sector, not just a way to cut costs. Nimble gives hotels the freedom to think more broadly and work more productively by taking away the burden of financial complexity.
Nimble Bookkeeping Services keeps track of all the finances effectively and provides access to the crucial financial data at your comfort.
Ready to streamline your finances and unlock growth?
Schedule your Free Demo today and see how Nimble can transform your hospitality business.
