financial planning
B·Hospitality Completes Portfolio-Wide Implementation of Aptech’s PVNG Hotel Accounting Solution at Bayfront Inn 5th Avenue
Aptech | October 24, 2024
PITTSBURGH – October 24, 2024 – Aptech, a leading provider of enterprise accounting, business intelligence, financial planning and management solutions for the hospitality industry, today announces that B·Hospitality has implemented Aptech’s award-winning enterprise accounting solution, PVNG, at its luxury property, Bayfront Inn 5th Avenue in Naples, Florida. This rollout completes the seamless implementation of the solution in all three of Ontario-based B•Hospitality’s North American hotel properties. Known as a leading provider of back office and accounting solutions for the hospitality industry, Aptech has more than 50 years of ...
How Dashboards Put Your Finance Team in the Driver’s Seat
Jill Wilder | July 30, 2024
By: Jill Wilder, President of Aptech I recently heard an interesting metaphor about a specific hotel accounting system feature: Having a dashboard moves you from driving with your eyes in the rearview mirror to facing forward. You wouldn't drive a car solely using the rearview mirror, you would want to look forward and have a full, clear picture of what is in front of you. It's the same with your hotel's accounting software; just like the driver of a car, a hotel's finance team needs a dashboard right in front of them to make quick, educated decisions. The hotel and resort industry market size worldwide reached 1.5 trillion USD last ye...
Jill Wilder Appointed President at Aptech to Lead New Market Growth Initiatives
Aptech | February 15, 2024
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2024 Budgeting: How To Improve Hotel Performance in Uncertain Times
HotStats | November 9, 2023
By Tanya Venegas In our previous article, we shared insights and advice from global hospitality experts on how to make the 2024 hotel budget process as smooth and painless as possible. Here, we share five ways to improve budget accuracy and performance in uncertain times. 1. Benchmark Against Competitors In the last article, we discussed the importance of strategic planning, aligning stakeholders, and harnessing relevant data. Another key element of the budgeting process is to benchmark performance against competitors. “Benchmarking is critical,” Pete Sams, chief operating officer of Davidson Hospitality Group, told us. “We l...
Is the Annual Budget Process Still a Necessary Evil for Hotels?
HotStats | October 26, 2023
By Kathrin Cockhill For hotels, the annual budget process is like a high-stakes poker game in which the owners keep their cards close to their chest and the operators try to guess what cards they’re holding and if they’re bluffing. By the time everyone shows their hands and the year kicks in, the game has often changed significantly, and all bets are off. Does it have to be this way? Today, more data than ever is available to enable operators to budget and forecast based on current conditions rather than rely on outdated projections. But will this serve the needs of owners? For insights, HotStats reached out to hospitality leader...
RKS Hotels Group Streamlines Accounting Processes for Its Alberta Canada Properties
Aptech Computer Systems, Inc. | December 13, 2022
Hotel ownership and development group adds PVNG enterprise accounting solution from Aptech to provide cloud accessibility and customized reporting PITTSBURGH, December 13, 2022 — Two RKS Hotels Group Ltd. properties in Alberta, Canada, will go live with PVNG by Aptech this month. The enterprise accounting solution will automate all general ledger, accounts payable, statistics, financials, and bank reconciliation processes in the cloud for the Four Points by Sheraton Edmonton South and the Travelodge by Wyndham Edmonton West hotels. Aptech is an IBM and Prophix business partner offering web-enabled business intelligence, budgetin...
Hospitality Financial Leadership: Why Teaching Accounting in Hotel School Is a Waste of Time
David Lund | May 14, 2018
By David Lund I have a dream. My dream is that the numbers, the numbers that so many managers agonize over in our industry, are just as accessible as guest service and employee engagement. Let me put this another way for more clarity: I want you and the other leaders and managers in your hotel to be just as comfortable dealing with the numbers as you are dealing with guests and colleagues. You might be thinking that is a tall order. Well, I do not think so. I have seen many managers overcome their fear and confusion with the numbers. I also believe a big part of why the numbers scare so many people off is because we "seemingly" do not k...
