IDeaS Extends Platform to Encompass Total Revenue Forecasting Technology, Transforming How Hotels Plan and Budget
Through automation and scientific forecasting, IDeaS RevPlan™ empowers hotels to build a forward-looking total revenue plan and budget based in data-driven reality
IDeaS Revenue Solutions, the world’s leading provider of revenue management software and services, announced today IDeaS RevPlan™, a cloud-based module built to complement its flagship RMS products. The module is designed to take the pain out of budgeting and forecasting a hotel’s total business, including food and beverage outlets.
Until now, hotels have relied on manual forecasting and data collection to plan operations for their total business. This error-prone, time-consuming process leads to inefficient labor costs, siloed decision-making and smaller profits. Expanding what’s possible with revenue science, RevPlan enables revenue managers, finance directors and hotel leaders to effectively budget, plan and strategize using automation and scientific forecasting.
· Total profit optimization – Increases profitability of all revenue streams, from guest rooms to food and beverage, with scientific forecasting for more precise planning.
· Data-driven decisions – Consolidates hotel data at the enterprise level to easily drive more strategic decision-making by revenue stream, region or brand.
· Automated efficiency – Boosts operational efficiencies with automated data collection and intelligence.
Sanjay Nagalia, co-founder and chief operating officer, IDeaS, said: “While others talk about the future of hotel technology, for the past 30 years IDeaS has invented it. Hoteliers face many challenges when it comes to the planning and budgeting of their total business. Essential data is spread out and isolated, the manual process is prone to errors and non-rooms revenue is left on the sidelines. That’s why we developed RevPlan, a budgeting and planning solution built for and by hoteliers.”