ProfitSword Takes Hotel Financial Performance Visibility Global With Instant and Fully Automated Currency Conversion
Leading business intelligence provider for hospitality implements advanced currency conversion capabilities for its full suite of hotel performance management and forecasting solutions.
PROFITSWORD, a premier developer of business intelligence and data integration software, has today announced the unveiling of a robust, fully comprehensive and automated currency conversion enhancement to its performance management and forecasting solution for the hospitality industry. The new enhancement will ensure that hoteliers with properties located within various countries can instantly view financial performance data in any currency desired for consistent and comprehensive reporting accuracy leading to informed decisions that are always in an organization’s best interests.
Ideally suited for hotel brands and management companies, the new currency conversion platform significantly offers maximum flexibility by allowing users to select an exchange rate based on the specific reporting data being analyzed. Examples include being able to convert balance sheets with a month-end exchange rate as well as accounting data with a monthly average, or budgets with an annual exchange rate. Each rate can further be included in a single comprehensive report for the seamless sharing and digesting of information.
“Hospitality is undeniably a global industry where businesses must be able to manage and monitor the performance of their operations in different currencies, which if performed using unreliable manual methods, can lead to otherwise avoidable financial challenges and hardships,” said John Crutchfield, COO at ProfitSword. “Our new service offering leverages our team’s decades of data intelligence expertise to empower hoteliers with the ability to sidestep painstaking and time-consuming rate exchange processes which don’t just vary by country, but can also be influenced by the type of data being analyzed. Instead, organizations with a global footprint can now look forward to the complete rate exchange standardization of their performance reporting data with little to no effort on their part and with real-time insights that always point the way to optimal business success.”
ProfitSword’s automated currency conversion enhancement further features the ability for hoteliers to apply exchange rates based on the latest international accounting standard rules. To ensure ultimate flexibility and ease-of-use, the solution also equips hoteliers with the ability to determine their own reporting currencies as well as options to convert property assets and liabilities into either local or international currencies for maximum business performance transparency.
