The cost of the traditional accounting routine is a heavy burden on hotels. It’s time for hoteliers to switch to the cloud-based hospitality accounting technology that will benefit them in the long run.
It is estimated that it costs about $30,000 for a hotelier to get an in-house accounting solution set up on their enterprise. In the modern era of digitization, hospitality professionals are looking for ways to make their processes more efficient and cost-effective.
Accounting is one of the most critical parts for the business, especially for the hospitality industry. Cloud-based accounting software have made it easier now to maximize profits by cutting down on the cost of maintaining accounting systems and time-consuming data entry.
Cloud technology can save companies money through decreased shipping charges, paper costs, and all around expensive maintenance costs. The company can also see significant savings on maintenance such as upgrades to operating systems, anti-virus software, patches and updates that are all necessary in the traditional system but not in the cloud environment.
The survey was conducted among a select group of 100 senior level hospitality professionals representing hotels from the Americas, Europe and Middle East.
What a survey is saying is that going cloud makes sense and 73% of hoteliers consider switching to cloud-based accounting technology. Suite of tools will cut down the cost of operations and make it possible for hotels to provide a better service at a lower price. Plus, hotels will be able to offer customers a more personalized experience compared to the traditional method that relies on a server farm in their hotel lobby.
Accounting technology enables hotels to automate processes and improve workflow which ultimately leads to better customer service as well as cutting back on errors resulting from lack of accurate data.
Plus, cloud-based accounting solutions are backed by a very responsive and reliable team that is available around the clock. Generally, cloud hotel accounting solutions can also be accessed from anywhere and anytime because it’s online. They also come with an end to end control that allows hotels to keep track of their processes, figures and actions in real time.
Since cloud accounting helps in improving business performance and reducing staff costs, it makes sense for hospitality service providers that have limited resources to consider using cloud technology.
With cloud-based hospitality accounting software, hoteliers will be able to run their businesses more efficiently without having to worry about confusing processes and high on-going maintenance costs.
Using spreadsheets on a daily basis can be difficult because it’s non-viable to keep track of all of the entries you make. This is why hoteliers have switched to cloud accounting software that allows them to automate their records with ease, and allow them to focus on the task at hand. A person who is running a business may find that they’re able to save much more money when they use these programs, as well as spend less time tracking day-to-day numbers and ongoing monthly/yearly transactions.
Traditional spreadsheets that use formulas to update data entry can be time consuming for a single user to keep up with manually. With cloud accounting software, many of these tasks are automated so that hoteliers can focus more on the work directly related to their business. For instance, if you’re running a hotel that has multiple locations, you’ll want to ensure that employees at all of these locations can accurately enter receipts and inventory tracking information so that they’re immediately recorded in your accounting system.
Here are some key benefits of using cloud accounting software to run your business:
Easy entry of data, with the program allowing you to easily export/import information. No need to enter data manually, with automated customer service and process capability.
Customized reports are available at any time and on demand. All of this is accomplished without the use of spreadsheets and without manual effort. If you’re tired of that tedious task, then it’s a less than ideal situation for running a successful business. You’ll want to make the switch to cloud accounting software so that you can improve your situation by taking matters into your own hands with ease. That’s the best way to run a business.
If you’re interested in cloud accounting software that can help you with your business, then try out Nimble Property. This is a program that you and your team can use to keep track of things from anywhere and from any internet connected device. It’s a convenient way for everyone to be on the same page, and also allows for easy on-the-go access when you need it most. If you’re looking for more freedom from spreadsheets, then click here.