The hospitality business requires meticulous attention to detail. Not only is it focused on earning revenue, but since it depends on customer satisfaction – one needs to be focused on the needs of guests. To achieve the best possible results, hospitality leaders tend to use specific means.
Let us introduce…
Firstly, who is a hospitality leader? To put it simply, these are the people who excel in the field of hospitality. They became the best they can be thanks to keeping up to date with the newest and fastest solutions available. Reducing paperwork and smoothing all processes leads them to be able to focus on the crucial issues on their work. Here are some examples of solutions taken from hospitality leaders. See how they work to achieve success!
POS for SOS
Among the most time-consuming aspects of any business are sales and accounting. To those with no experience and training in dealing with invoices and bills, it can take a long time and the potential for a mistake is quite significant. Adding POS (Point of Sales) systems to your business will help you track sales easily – all of them will be recorded in the system with easy access to them. Automatic management of sales frees up plenty of time to focus on other aspects of the business.
But even though Point of Sales systems are nearly necessary, there still are some improvements that can be made. To make managing finances easier, you can use Point of Sales integration with accounting software. Accounting integration will make sure that your invoices and bills are in check. Your accountant – which you definitely should have – will thank you for it. Having everything in one place makes it easier for all involved. Becoming a hospitality leader is one step closer.
A watchful eye – or eyes
While we are on this subject, you most definitely should use the services of an accountant. Attempts at dealing with taxes and regulations may prove too much for those of us who are not trained in it. Laws change, and a mistake on an official form can be fatal to young businesses. A professional accountant or a bookkeeper will help you realise the best strategies for earning money and not losing it on things that can be easily avoided.
Keep tabs on your inventory, too. Inventory management can be daunting, but nowadays there is no need to personally and physically check your supplies. Integrated POS systems track sales and purchases, so you will be able to quickly and efficiently see what needs to be ordered and when. There are few greater problems in hospitality business than running out of important inventory items. When your customers must be told that something they want is unavailable, you run the risk of them not coming back. Conversely, it is wasteful to have overstocked – spoiling products are a money sinkhole. Since you cannot sell the product you have lying around, you are practically losing money on it. POS integration can help alleviate this issue, as you will be able to easily check what needs and does not need to be ordered.
It pays off quickly
If you employ people in your business, you may need to track their shifts and hours in order to make appropriate payments. The more employees you have, the harder it is to stay on top of all of that. Forget paper spreadsheets – in small businesses they may work, but once the numbers rack up, pen and paper solutions no longer make sense. With a payroll integration system in place, you will be able not only to see who showed up and when, but the system will also automatically count how much anyone should be paid. Perhaps holidays and Sundays require a higher pay rate than regular days? The payroll system will be able to automatically account for that as well.
Remember, your employees are the faces of your hospitality business. If they are paid fairly and on time, you will be sure that your customers will be served by happy people. And, obviously, that translates into more revenue.
For smooth sailing
Finally, the more integrated your business solutions, the more time you will have for yourself. Aside from planning business improvements, for example, reducing the need to hands-on manage every little detail leaves you with plenty of time to take care of yourself. Work-life balance is just as important as proper business management, and with proper solutions in hand, you can ensure that not only your employees will be satisfied and at ease, but you, too. Remember – delegating and automating tasks is a sign of a great leader.
Connect your POS system and your accounting software, and you will be impressed with how smoothly everything can run!