In the hotel industry, there have constantly been new developments, concepts and progressive ideas in areas like technology, marketing, and so on. We have seen the outsourcing of our housekeeping departments, SEO, revenue management, even employee leasing programs but here is one area that hasn’t seemed to change at all and that is how we handle our day-to-day
financial and accounting tasks.
You have to wonder why considering that it is one of the biggest challenges hoteliers face. Now we are starting to see a trend in our industry with looking at outsourcing our accounting. I recently took this step myself when I decided to outsource my accounting with Quatrro FPO Solutions in Rosemont, IL.
Before this, I would never have even considered outsourcing my accounting. I’ve always been kind of old school and I just didn’t see the advantages.
I've been able to find out that the advantages are truly vast. Firstly, they can custom tailor reports so I can provide my clients with exactly what they are looking for. I don’t have to worry about employee turnover and benefits or if “Susie” will be away on vacation when our P&L reports are due. I can be assured that everything will always be done efficiently, on time, and for an all around lower cost. Not only that, but all that time that was being spent overlooking my accounting department is now spent on proactively growing my business.
It’s not only the time you are saving. Think of your current operating cost as it relates to your accounting departments, technology, equipment, constant software upgrades, etc. All of those significant operating costs disappear as well. I would rather spend my time focusing on creating new business than laboring over an accounting department, paying bills, cranking out reports,
P&L’s and other data. When you are outsourcing, you are freed to spend more time being proactive and building your business to higher levels.
Accounting is really the “Final Frontier” in the hotel industry and it’s exciting to see that finally we are being offering something so unique and different. In fact, one of the industry giants has recently announced that they will also be outsourcing their accounting. It’s exciting to see how things are changing in this industry and most of all, I am excited to see changes come into an area of our business that has been virtually unchanged in decades. It has certainly been a step in the right direction for my business, and I believe we will be seeing many more making the same leap that I did.
About Vimana Franchise Systems LLC
Vimana Franchise Systems LLC is a hotel franchise company owned by CEO Steve Belmonte, President Neal Jackson and Vice President Cory Jackson Jr. In May 2011, Vimana Franchise Systems launched the Centerstone brand as a three-segment franchise designed to create a fair and cost effective model for the hospitality industry. In November 2011, Key West Inns was relaunched under the Vimana Franchise ownership umbrella as a budget friendly brand. For more information on Vimana Franchise Systems LLC, contact Steve Belmonte at (407) 654-5540 firstname.lastname@example.org. Visit Vimana Franchise Systems online at www.VimanaFS.com. Visit Centerstone online at www.centerstonehotels.com and Key West Inns online at www.staykeywesthotels.com.