Innovations in the Hospitality Industry

One of the most vibrant sectors of the economy is the hospitality industry. It is large and varying and amasses a huge amount of money every year. However, many of the different processes and responsibilities that are required of hotels, casinos, and other hospitality businesses take up valuable time and financial resources. There is a strong need and desire for these processes to be streamlined into something that is faster, easier, and more efficient. Accenture and Oracle have joined to create the Hospitality Finance Cloud Solution to help solve these problems.

What is the Hospitality Finance Cloud Solution?

Out of this joint venture, Accenture and Oracle have created a program to streamline the process of financial management and tracking. With this cloud program, businesses can access financial data and information from multiple sources, and connect it to on-property systems. The Cloud Program means that no matter where your financial data is at, or what kind it is, you can instantly stream it to your systems on the property. The program can automate workflow and operations processes easily and quickly.

Advantages of the Hospitality Finance Cloud Solution

There are many advantages to using the Hospitality Finance Cloud Solution. Because it opens up cloud integration to businesses, there is a wider variety of advantages and benefits open to users.

• Cloud integration – With cloud integration, businesses can unite information from across hotel brands, property portfolios, property systems, and infrastructure forms.
• Access to financial information can help businesses make better informed financial decisions.
• Cloud integration also allows for real-time access to a variety of tools, including computers, mobile devices, and tablets.
• With easier access to financial information, you can reduce the amount of risk you are taking with each decision.
• Using the cloud system, you can simplify the infrastructure that is necessary to access all of your different financial information, reducing the amount of money you spend on infrastructure.
• The process of reporting and tracking your financial information is easier with the faster access to all of your information, even if the information is stored in varying storage locations.
• With easier access to financial information at all levels of your business, your business will, as a result, have an increased sense of transparency, which will aid you in how you run your business.

The Perfect Tool for Financial Management and Performance

If you are currently running a business in the hospitality industry, you are more than likely trying to find a way to streamline your internal operations and processes, cutting costs, and increase your profit margin. The Hospitality Finance Cloud Solution tool created by a joint venture from Accenture and Oracle can help you accomplish that task. You will be able to make better informed financial decisions because you will know the state of your finances at all times, in real time. You will not need to waste time, money, and effort on managing multiple formats and programs any longer.