Simon Konover Company Leverages Business Intelligence; Gives GMs Reports to Achieve Plan Every Day
Holiday Inn Express and Suites Roseville
Holiday Inn Express and Suites Roseville
The Simon Konover Company is a growing enterprise with a reputation for innovation
and success. The company develops, builds, owns, and manages an extensive portfolio
of hotels, office buildings, and residential properties. Konover Hotel Corporation, a
subsidiary of The Simon Konover Co., was an early adopter of business
intelligence (BI) before the systems were widely accepted in hospitality. Today,
Konover Hotel Corp. (KHC) uses BI to give its GMs comprehensive performance data
reports that make them better managers.
"Konover Hotel Corporation first
applied BI technology in 2007. We added 15 properties to our hotel group and
immediately saw that our existing systems were not up to the daily job of data
gathering, analysis, and reporting," said Linda Valvo, corporate controller for The Simon
Konover Co. "At the time, we used Excel and other generic business software. We
researched systems as we grew and installed Aptech's Execuvue® Business intelligence to automate property
data collection and analysis. We also use Aptech's Webvue ® enterprise
back office for all our hotels. Property management based on accurate, timely operating
data is essential for KHC. Now we have this information in our managers' hands every
day."
Execuvue automatically generates comprehensive flash
reports for properties by 8:00 a.m.
Taking on 15 new properties was a
huge challenge for KHC's team. "Our larger portfolio instantly impacted accounting,
payroll, IT staff, nearly every management area," Valvo said. "When we transitioned to
Execuvue it made our financial
processes much easier. We saved about two staff hours a day. The system collects a
wide variety of data from diverse systems at each property, then tracks and analyzes it.
Execuvue automatically generates multiple reports which the accountants distribute to
our properties and KHC management. Our GMs have a daily flash report in their hands
by 8:00 a.m. to help them manage by the numbers."
One point of
access delivers 'performance picture' for entire portfolio
KHC placed all
its properties on one financial platform for a single point of data access. Execuvue
provides one version of the 'performance picture' for the entire portfolio. "Our hotels
were on different systems originally," Valvo said. "Now all our properties are on a
common platform with a simplified template for data gathering and performance
tracking. Execuvue's daily reporting is in one location, so we can send prior day activity
to our GMs. Our Executive Vice President, Peter H. Mason, CHA, gives them daily,
weekly, and monthly property performance goals. The first thing they see each morning
is their numbers benchmarked against budget to keep them on track."
Property performance comparisons prove 'friendly competition is a good
thing'
The company also periodically shares property performance
information between its GMs. "Two times a month, we send an 'analysis by flag' report
to our managers so they can compare their performance. We use our BI and Profitvue back office systems to track how properties manage
guest service expenses, guest supplies, and other factors to measure property
success," Valvo said. "I think a small amount of friendly competition is a good thing."
Execuvue, Profitvue 'gold standard' reports help maintain
profitability
Valvo taps KHC's centralized BI and back office systems for
'gold standard' reports and analysis that keeps the properties and company healthy.
"We created a number of reports that give us information essential to maintaining
profitability. The standard P&L's from our Profitvue enterprise back office are excellent.
Execuvue's report options do anything we want. We expanded our P&L's for prior year
reporting to make budgeting easier for GMs. We also put properties side-by-side for
instant comparisons. Centralizing BI and accounting make our operation more efficient.
Our GMs have solid performance data to manage successfully."
Aptech's Execuvue BI, PVNG Accounting System, Profitvue, and Targetvue
Enterprise Planning and Budgeting will be at HITEC 2014, June 23 – 26 at Los Angeles
Convention Center. Come by Booth 501 to meet the Aptech team.
About The Simon Konover Company
The Simon
Konover Company is a fully integrated real estate organization nationally recognized as
one of the premier real estate entities operating throughout the Midwest and Eastern
United States. Established more than 50 years ago, The Simon Konover Company
excels in real estate development, property acquisition, asset management, property
management, construction, leasing, and ownership. The Simon Konover Company is a
full‐service organization providing superior service and expertise to Konover‐related
entities as well as third party owners and investors. Through its diverse operating
companies, The Simon Konover Company serves many market segments, including
hotel, residential, office, industrial, retail, mixed‐use, and specialty properties.
Aptech Computer Systems
Aptech Computer Systems,
Inc., based in Pittsburgh, PA, leads the hospitality industry in leveraging change by
valuing human relationships and applying technology to solve business problems for
people. The company is renowned for introducing business intelligence into the hotel
industry, and offers a solid resource of hospitality professionals. Aptech is an IBM
Software Value Plus partner and Premier Solution Provider.
Incorporated in
1970, Aptech is a hospitality financial and operations technology solutions and service
company. Aptech's state-of-the-art back office, business intelligence, and enterprise
planning products include Profitvue®, Execuvue®, Webvue®, and Targetvue. Clients
comprise more than 3,200 properties, including large chains, multiple-property
management companies, and single-site hotels. Aptech's solutions help customers
understand their financial and operational data to lower expenses or increase
profitability. Execuvue and Profitvue are registered to Aptech Computer Systems, Inc. All
other trademarks are owned by their respective holders. For more information please
visit www.aptech-inc.com.
Contact
Cam Troutman
Vice President
Phone: 800-245-0720
Email: vueinfo@aptech-inc.com
Organization
Aptech Computer Systems Inc
https://www.aptech-inc.com/
135 Delta Dr.
USA
- Pittsburgh, PA 15238-2805
Tollfree: 800.245.0720
Phone: 412.963.7440
Email: vueinfo@aptech-inc.com
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