Wischermann Partners Case Study
Headquartered in the Twin Cities (Minneapolis, Minnesota), Wischermann Partners, Inc. was founded on the principle of serving as a unique and innovative, results-driven hospitality management company capable of creating truly memorable guest experiences. To achieve this goal, company representatives share a commitment to pairing exceptional property design and functionality with a culture that promotes service excellence.
Specializing in upper upscale and luxury hospitality markets, Wischermann Partners is recognized nationally for its ability to provide a unique combination of knowledge and industry-leading experience to hospitality management, development and acquisitions. Currently having developed more than 40 properties and overseeing the management of over 3,000 guestrooms, Wischermann Partners is consistently credited with positioning its hotels at the top of guest satisfaction and RevPAR indices.
Previously using accounting systems paired with more rudimentary reporting processes for its performance data analysis needs, Wischermann Partners began to recognize several significant limitations with the platform. As a more manual-based solution that required considerable effort on the part of employees to locate, combine or segment relevant data, systems in place originally created an increased risk of human error and an inability to quickly identify anomalies and real-time circumstances impacting business performance. Furthermore, it proved cumbersome in working alongside some of the more sophisticated data generating systems in use by several of Wischermann’s properties.
Seeking to overcome identified reporting obstacles, Wischermann Partners leadership sought out a replacement with a goal to provide a comprehensive, intuitive and user-friendly experience when compiling, organizing and presenting performance-related data. The company particularly sought out the ability to seamlessly locate and present real-time data demonstrating ongoing performance and profitability of either a specific property or group of properties to both internal stakeholders and individual capital partners.
Solution and Results
In identifying ProfitSword as the leading provider of BI and data management solutions for the hospitality industry, Wischermann Partners initially opted to implement ProfitSage across its portfolio of properties. An advanced reporting, budgeting and forecasting solution that is designed to automatically integrate with disparate data-generating systems such as a hotel’s PMS, POS and accounting software, ProfitSage provides Wischermann Partners with the ability to swiftly gain access to an array of vital business performance indicators in order to obtain real-time insight into the organization’s financial strength and outlook. This includes the ability to review labor statistics, prior expenses and upcoming financial commitments.
With ProfitSword providing a white-glove, concierge approach to designing data integrations that automatically and directly pull from each hotel system, Wischermann Partners can feel fully confident in the ability to minimize human error during the data gathering and reporting process. ProfitSword designs and supports each data integration which provides Wischermann on-property and above-property team members the ability to focus on analyzing and managing dynamic, day to day operations and business objects with reliable and real time information. ProfitSword’s web based applications addresses Wischermann Partners’ core data management and business intelligence needs by allowing users to effortlessly switch back-and-forth between reviewing performance analytics for individual properties or for the entire company. This includes being able to more seamlessly and quickly compile daily, weekly, and month-end financial and performance metrics and reports on demand. The solution also equips organizational leadership with the ability to manage access to the data that is pertinent to an individual’s role and responsibility. This ensures that users are able to swiftly locate relevant information that fits their needs in working towards a more efficient and profitable business. Through increased efficiencies, accurate and timely data, and improved reporting, Wischermann Partners is able to demonstrate that assets are being managed in the most profitable manner thus increasing value and confidence with capital partners, associates, and customers.