Microsoft Excel isn’t set up for integrated driver-based budgeting and other key data transformations.
Many hoteliers use Microsoft Excel for their budgeting and planning functions but find it doesn’t efficiently integrate into the rest of the technology stack. Passing versions of spreadsheets around manually can introduce errors and it gets in the way of effective collaboration between teams. It also makes it difficult to maintain and update formulas, and creates a rift between finance and operations, something that hospitality operators can’t afford to do.
Without purpose-built tools for collaboration, budgets can take a long time to prepare and may contain static information collected months ago. This means the final result is likely out of date and not reflective of current business conditions and forecasts. In addition, it can be difficult to identify problems because you don’t have the granularity or detail you need for proper diagnoses.
Cubewise and IBM Planning Analytics / TM1 provides a single source of truth with a highly sophisticated dynamic database that can house all of your data in one place. By integrating financial and operational planning in a real-time environment, you can achieve powerful driver-based budgeting that enables better decision-making. Combine this with ad hoc self-service reporting and any stakeholder can make timely, informed decisions with all the information they need at their fingertips.
Many hoteliers use Microsoft Excel for their budgeting and planning functions but find it doesn’t efficiently integrate into the rest of the technology stack. Passing versions of spreadsheets around manually can introduce errors and it gets in the way of effective collaboration between teams. It also makes it difficult to maintain and update formulas, and creates a rift between finance and operations, something that hospitality operators can’t afford to do.
Without purpose-built tools for collaboration, budgets can take a long time to prepare and may contain static information collected months ago. This means the final result is likely out of date and not reflective of current business conditions and forecasts. In addition, it can be difficult to identify problems because you don’t have the granularity or detail you need for proper diagnoses.
Cubewise and IBM Planning Analytics / TM1 provides a single source of truth with a highly sophisticated dynamic database that can house all of your data in one place. By integrating financial and operational planning in a real-time environment, you can achieve powerful driver-based budgeting that enables better decision-making. Combine this with ad hoc self-service reporting and any stakeholder can make timely, informed decisions with all the information they need at their fingertips.
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