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Broadvine Expands Budgeting and Forecasting Capabilities

Broadvine Hospitality Business Insights

 

Raleigh, NC, June 3, 2019 — Broadvine, a leader in Financial Performance Management software for the hospitality industry, announced today the release of several product enhancements to increase the breadth and flexibility of its budgeting and forecasting application. New capabilities include initializing a plan from the trailing 12 months of actuals or based on best case logic, which uses a combination of actuals, forecast, and budget values. Additionally, driver values can be automatically reverse-calculated from the source data.

 

“The new initialization options provide time savings to our users while simultaneously enabling improved forecast/budget accuracy,” said Lex Raleigh, VP of Product Development for Broadvine. “With just a few clicks a user can create a budget with actuals-to-date, forecast for the next 90 days, and budget to finish the year. Driver values – for example, cost per occupied room, or percent of same department revenue – can be derived automatically, allowing the user to spend less time doing math and more time optimizing occupancy and revenue. These planning enhancements support Broadvine’s core mission of enabling back-office automation such that hotel management companies can spend more time focused on the guest experience, without sacrificing effective financial planning and oversight activities.”

 

Broadvine’s application platform provides real-time data and analysis for use in making more strategic and profitable decisions. By consolidating data from various property management systems, third-party data sources, time and attendance systems, and the accounting platform, owners and operators have complete revenue and statistical analysis reports and insights to make better decisions – all in real-time and across their portfolio.

 

With these new product enhancements, Broadvine continues to expand their ability to provide flexibility to owners and operators of all complexities and portfolio sizes.

 

For more information, please visit Broadvine at HITEC Booth #1539 or visit www.broadvine.com.

 

About Broadvine

Broadvine delivers financial performance management software to help hotel management companies and ownership groups increase profitability and operational efficiencies across their portfolio.  Broadvine’s software-as-a-service application consists of Reporting, Forecasting and Labor modules – providing a robust and flexible platform.  Broadvine is utilizedby over 30 management companies and almost 500 properties worldwide.  For more information, visit www.broadvine.com.

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