For hospitality managers, cost control is a constant juggling act, involving inventory management, personnel, pricing, and a host of other factors. They have the data they need to make informed decisions; they just don’t have the time or resources to analyze and distribute it effectively, and most analytics packages are beyond their budgets.
Enter Fourth, the world’s leading provider of cloud-based cost control solutions to the hospitality industry. The company saw an opportunity to offer an analytics platform alongside its existing purchase-to-pay, inventory management, and other solutions.
“Our mission was to create a solution that everyone could afford and could take advantage of,” says Mike Shipley, who coordinated Fourth’s project with GoodData. “We wanted to empower our customers to run their businesses better — to make the information easy to access, and to offer it in a graphic, interactive interface that they can use everywhere.” (Read the full case study here)
In 2013, Fourth and GoodData partnered to design and launch a data product that was unlike anything else in the hospitality marketplace. The new platform allows customers not only to improve business performance by enabling decisions based on actual data, but also to automate distribution of the right data to the right stakeholders in an easy-to-read format.
One Fourth Analytics customer, GLH Hotels, was able to identify an opportunity to increase its margins simply by changing its staffing profile. “Now we have a greater percentage of employees on part time and flexible contracts, with the obvious effects on the bottom line,” says GLH’s HR Programme Manager Andrew Elvin.
Since Fourth Analytics went live, the product has delivered — and continues to deliver — a host of benefits to the organization, including
To learn more, read How Fourth Added Analytics to Its Menu…and Realized a 117% ROI.