Revenue reconciliation is a constant battle in the hospitality industry. Payments arrive from diverse sources and do not always reach the bank as they should. Revenue streams get misposted, someone forgets to update the spreadsheet. Additionally, there are POS reports, cash collections, OTA settlements, credit card batches, and refunds that arrive at varying times and formats, resulting in lost work hours.
Even when reconciliation is finally complete, the passive revenue report often lacks the dynamic revenue intelligence that truly improves business performance.
In an industry where real-time insights and rapid optimizations are crucial for success, hospitality businesses have often struggled to operate in the dark. Fortunately, that is no longer the case.
With automated reconciliation & real-time revenue intelligence offered by tools like Docyt, every hospitality business can now unlock a new level of visibility and optimization without ever getting caught up in the chaos of reconciliation ever.
Here’s how Docyt’s real-time revenue intelligence is changing the game for hospitality businesses:
1. Effortless Automated Reconciliation, Zero Manual Work
Just connect your revenue or PMS system to Docyt. Link it to your bank and credit card feeds, and our AI accounting automation platform takes care of the rest.
It automates your entire reconciliation process in real time by pulling data from all your systems. So, no more manually compiling spreadsheets or reconciling accounts. It centralizes all the data you throw at it, accurately compiles revenue reports, and emails them to your inbox daily like clockwork.
2. Real-time Revenue Analysis Across All Locations
Whether you manage a single chain or a franchise operation, Docyt’s daily reports offer the most comprehensive snapshot of your business performance across all revenue systems.
- The daily PDF report breaks down your revenue by brand, location, and timeframe, allowing you to easily compare performance, identify trends, and pinpoint areas that need attention.
- Docyt also highlights any variances between actual revenue and budgeted figures for month-to-date (MTD) and year-to-date (YTD) to give you clear insights into what’s changed across each location and brand.
3. Real-time Revenue Intelligence – Customized to the Hotel Industry
Docyt’s customization paves the way for exclusive real-time intelligence, enabling users to gain greater visibility and control, and optimize their operations on the fly.
For hotel owners, Docyt helps track key metrics such as Average Daily Rate (ADR), Room on the Books (ROM OTB), and Revenue Per Occupied Room (RevPOR), among others, all customized to meet your specific needs. This allows you to stay on top of pricing trends, forecast earnings, and understand how each occupied room contributes to your revenue. Having this level of visibility also helps you gain greater control over pricing adjustments and operational efficiency.
Docyt AI, with its automated reconciliation and customized real-time analytics, delivers powerful revenue intelligence that enables hospitality businesses to optimize their operations for consistent growth. Know more about our Daily Revenue Snapshot to know more. Learn more about our Daily Flash Revenue Report to see how Docyt’s revenue intelligence can truly transform your analytics game and help you stay ahead of the curve in the hospitality industry.
