ProfitSage

ProfitSage for Hospitality was specifically designed to aid in the daily, weekly, and monthly operation of a hotel or group of hotels, providing operational tools for Forecasting, Budgeting, Accounts Payable, and the Daily Income Journal.

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Providing over 2,500 hotels worldwide with comprehensive functionality and hundreds of reports, ProfitSage has become the most widely used operational intelligence application in the Hospitality industry. ProfitSage is a multi-platform web-based application accessible from PC’s and mobile devices anywhere in the world.

  • ProfitSage gathers data from various hotel applications and data sources such as…
    • Property Management Systems (Including all branded and many independent systems)
    • Point of Sale Systems
    • Timekeeping/Time Clock Systems
    • Sales/Group Booking Systems (Delphi, SalesPro, Micros S&C, etc)
    • Back Office Accounting Systems (GL solutions)
    • Spa & Golf Solutions
    • Smith Travel Data
    • Guest Service Scores

 


ProfitSage uses the statistical and financial data for the four main operational modules within the application.

 

BUDGET/FORECAST MODULES

 
  • The ProfitSage Forecast/Budget modules allow users to create top-to-bottom monthly, quarterly, or full-year projections.
  • The Forecast is updated daily with the actual numbers from the Income Journal module.
  • Group/catering data can be imported form sales software (Delphi, SalesPro, etc.).
  • Create “drivers” for individual line item revenues or expenses.
  • Integration with accounting solutions helps to provide a real-time checkbook feature with declining balances for better financial management.
  • View historical trends and track each hotel’s forecasting accuracy.
  • View real-time reports including a full, forecasted P&L.
  • Copy feature allows users to populate forecast with budget numbers and budget. with actual numbers – giving users a starting point.
  • Budget can be locked down once approved, prohibiting further edits.

DRIVERS FOR EXPENSES

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A Forecast Accuracy report is available to help you gauge your forecasting abilities 30, 60, and 90 days out.

PS_ProfitSage_budget_mods_7Guest Supplies is forecasted as a function of occupied rooms (8,581) at $1.05 per room, or $9,010. If the occupied rooms forecast changes during the month, the driver will automatically update the forecasted amount for Guest Supplies!

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Forecast F&B using drivers to determine covers. A great example might be breakfast covers are forecasted as 12% (.1200) of occupied rooms. This automatically calculates the number of covers (1,001). If the rooms forecast changes, the number of covers and revenue will automatically recalculate to reflect the change.

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View historical trends in order to create more accurate and meaningful forecasts. For instance, a current year 12-month forecast for breakfast revenue can be easily compared to the previous year.

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Summary and detailed forecast reports are available to users. An export to Excel is also available to enable users to do further analysis.

INCOME JOURNAL

The ProfitSage Income Journal is an automated process that imports data directly from the property management system (PMS) and point of sale system (POS) when applicable. The data is then mapped (one-time process) directly to your company’s GL codes creating a balanced, detailed income journal entry to be exported to the back-office accounting system.

Leave the world of maintaining multiple spread sheets behind as all of these functions — and many more — are contained within ProfitSage!

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Tax reporting provides a breakdown of all taxes collected by tax category.

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Credit card tracking tools are available to monitor your credit card activity.

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Use cash reporting tools to track cash for each department.

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Enter the tax exempt information for guests and banquet functions to create a daily or monthly tax exempt report.

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ProfitSage mines detailed daily data from the property PMS. The one-time mapping process associates each PMS charge code with the appropriate GL code from the chart of accounts.Once the data is properly mapped, ProfitSage will provide a daily Income Journal Summary.

Leave the world of maintaining multiple spread sheets behind as all of these functions — and many more — are contained within ProfitSage!

ACCOUNTS PAYABLE

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The ProfitSage Accounts Payable (AP) Module allows users to create AP invoice batches, input invoices, and electronically approve and post these invoices into the back-office accounting solution. There is only one point of data entry!

Forecast Checkbook

The AP Module within ProfitSage is fully integrated with the Forecast Module – the checkbook within the Forecast Module is immediately updated when invoices are entered into the AP Module, providing users with real-time information.

Purchasing decisions will be better informed and forecasting accuracy will improve dramatically.

  • Creating invoice batches and entering multiple invoices is simple, easy and fast.
  • Printing a batch or exporting the batch to Excel allows users to keep a record/coversheet for each batch of invoices.

When the batch is complete, it is simple to submit the batch for approval. Once a batch has been submitted, it is closed to additional edits and is ready for approval/rejection by an authorized user. An approved batch can then be ‘Exported’ to the back office accounting system for posting in the GL.

The ProfitSage Accounts Payable module is simple to use, efficient, and provides department managers updated information in their forecasting checkbook. Managers will make better informed purchasing decisions and will produce a better departmental profit!