If you’re utilizing a reservation management system without utilizing reporting, you’re throwing away valuable information and potentially negatively affecting your operations.
The good news? With the right reservation management and reporting system, you can increase your profitability, save time, and otherwise streamline your business operations. But how can you ensure you’re maximizing your data reporting?
Below, we’ll take a look at some of the reservation management system features that provide a detailed analysis of your business to help you improve your property management.
4 Ways The Right Reservation Management System Can Improve Your Reporting
By using all of the tools available to you in your reservation system, you can fully utilize your reporting to gain an in-depth understanding of your property and make data-based decisions to improve your business.
1. Robust Integrations
By connecting your reservation management system with integrations, you can streamline your current, non-migratable technology and data to learn more about your customers and ensure you have holistic information saved in one place. For example, RMS’s integrations feature a number of tools to improve your data reporting, including:
- Booking platforms. Gain insights on booking sources, guest data, and more to help you identify which booking sources are providing your property with the most reservations.
- Point of sale solutions. Directly track payments for your property in a centralized database.
- Revenue management tools. Take an even more in-depth look at your business’s financial reporting through popular integrations you already use.
There are a number of other ways to extend the functionality of your reservation management system and provide continuous visibility into your property’s data through integrations.
2. In-Depth Multi-Property Data Overview
If you own multiple properties, it is important to get insights into each location’s performance, but it is also crucial to get a holistic view of your data landscape to inform your decision-making.
By utilizing a cross-property data overview and comparison chart, you can understand your entire business’s standing while maintaining individual property names, separate banking, and varying rules across properties.
Guest data is also shared across properties to eliminate duplicate guest records that might interfere with accurate reporting while expanding an individual guest’s profile information based on multiple location visits to your brand.
3. Cloud-Based Technology
Since your reservation management system is cloud-based, all of your data — including guest information, revenue insights, and bookings — remain securely in the cloud.
Since everything is found in one central, cloud-based location, you can access it anytime, from anywhere. Whether you’re at your property or working from your home office, you can view accurate, up-to-date information about your properties that allow you to make the best decisions for your business.
4. Customizable, On-Demand Reports
Gain insight into particular areas of your property through a comprehensive reporting suite. While most reservation management systems have some level of reporting built-in, it is important to utilize any customization available within the system in order to prioritize all of the data available so it is most useful to you. For example, in addition to over 200 built-in reports, with RMS, you can build custom reports for any insights you want to see.
For the reports you use most often, you have the ability to organize them into your favorites list for even easier access. Plus, you can schedule these reports to pull information automatically and have it sent directly to your email as often as you want.
From statistical data to revenue reports, knowing exactly where your property stands can allow you to adjust your budget, make better financial decisions, and improve your business overall.
How Does Your Reservation Management System Help Improve Your Business?
Your reservation management system should help you understand your business data, streamline your processes, and strive for operational excellence. While that all might sound daunting, it’s possible with the right system.
A reservation and property management software can help you improve your business in a number of ways, including by:
- Streamlining multiple properties through interconnected operations.
- Providing data visibility that allows you to make data-driven decisions.
- Elevating the guest experience with a more personalized experience, improved communication, and more.
Download our in-depth guide to find out more and begin your journey to operational excellence today!