9 Jun, 2021

ERP for Hospitality Industry

Hospitality industry is known for stiff competition. With so much at stake, businesses are increasingly under pressure to create new incentive models to retain their customers. An ERP system maximizes the ROI of the company by automating all its activities.

Businesses with bulk transactions every day require a smart and efficient system that streamlines all their processes. Hotels and restaurants need robust and customizable business management systems that reduce manual processes and help stakeholders make data-backed decisions.

How Does an ERP System Streamline Your Internal Operations?

ERP systems carry out and control routine transactions across departments of a company to generate faultless reports. regardless of their sizes or industries. With these reports, businesses are able to help their management department understand various trends easily.

The hospitality business focuses on two core aspects - prompt delivery and service. By streamlining operations like services, customer care, and inventory management, businesses can readily focus on their key priorities. 

Further, if you own a restaurant chain -  cloud ERP enables you to manage all your core operations from a single platform from anywhere in the world.

Why Hospitality ERP?

• Enhance Customer Service
• Improve and Unify Sales
• Maintain a Relationship with Customers Through a Feedback System
• Manage End-Of-Day Operations Checklist
• Advanced Financials
• Improving the Process Time Cycles
• Inventory Management Made Easy
• Monitor and Control Suppliers and Third-Party Vendors

Cloud ERP System - Benefits and Features for the Hospitality Sector

1. Manage Your Guests

In the hospitality industry, the customer retention rate is critical. Keeping track of the loyal customers and providing them with personalized offers makes them come back. With an ERP system - tasks are automated, sending out offers and alerts to repeat customers and planning new offers becomes a seamless process. 

2. Witness the Increase in Productivity

By the implementation of an ERP system, staff at a hotel's front desk are able to get real-time details about room availability, check-ins and checkouts, charge calculations, and delivery choices. Equipped with this knowledge, hospitality providers will be able to better serve their customers. Managing the menu, car listing, costs, and deals are all available within a button click. When customers witness these standardized experiences across every vertical, they are inclined to brand you as the best service provider.

3. Business Modules That Add Value

ERP systems comprise multiple modules that are capable of handling various verticals. Finance, HR (human resource), purchasing, inventory, and CRM ( customer relationship management) are the core modules. Importantly, the data flows in real-time, meaning if a requirement arises in the purchasing department, the finance department is notified instantly - so that there is no delay in allocating the budget.

4. Track Your Business 24/7

ERP systems closely track the number of ongoing processes from a single workstation. It synchronizes different courses, from kitchen orders to their serving and from room availability to checkouts. Additionally, the owner can closely monitor all these activities and get detailed reports and metrics in their device in real-time. Details like stock availability, movement, customer footfall, and budget projections are all available in ERP systems.

5. Order Management and Payment

Restaurants and hotels deal with a large number of payment transactions every day. With a robust POS (point of sale) integrated ERP software, transactions are automated and deemed error-free. 

Dynamic pricing is another feature of the point of sale module, which allows businesses to set variable rates for their hotel rooms or foods served based on previous consumer visits, venue, season, local events, and other factors. This increases pricing techniques by increasing the number of sales at optimum prices.

Furthermore, the POS systems include specified tax margins that measure taxes for each transaction automatically. Order management and payment processing have become much easier and quicker, regardless of the type of transaction.

6. Drive Your Future with Analytics

Analytics improves insight into all of the company's main fields. It is, without a doubt, one of the distinguishing features of ERP software that lets you cope with current business problems while also preparing for future ones.

Restaurant and hotel ERP applications are able to generate a variety of automated reports based on a variety of industry parameters. This observes and prioritizes the efforts to increase the company's sales and income.

NetSuite for Hospitality

Oracle NetSuite is the #1 cloud ERP system with highly customizable dashboards and workflows. Integrate your business’s unique operations into NetSuite and enjoy seamless operations.

• Improved Visibility
• Put an End to Unwanted Manual Processes
• Grows with Your Business
• User-Friendly Subscription-Based Software
• Advanced Analytics
• New Ordering/delivery Models
• Role-Based Dashboards
• Reports and Kpis

Ready to implement NetSuite and transform your business? Connect with Jobin & Jismi for a quick quote.