Atlanta-based Otelier has launched the next generation of its budgeting and forecasting platform known as TruePlan.
The platform now aims to deliver a faster, more intuitive way for hotel groups to plan, collaborate and execute their financial strategies across their portfolios, according to the company. The enhanced TruePlan is built on Otelier's centralized integration framework and is designed to enable real-time data flow between tethered solutions for business intelligence, Accounts Payable automation, night audit compliance and financial reconciliations.
"Budgeting and forecasting should be powerful, not painful," Russell Meek, senior director of product strategy at Otelier, said in a statement. "We have rebuilt TruePlan based on customer feedback and the result is a platform that's not only faster and more scalable, but one that meets the real-world needs of today's hotel finance teams. With TruePlan NextGen, you can go from data to decisions in a fraction of the time."
TruePlan aims to help hoteliers reduce the amount of time spent in "budget season" by 30 percent, on average, by starting with prepopulated data based on historical and hospitality-specific drivers, according to the company. Streamlined collaboration across departments is designed to reduce revisions and eliminate any gap periods at the end of the month or year.
Some of the more significant improvements with the new platform include a Modern UX, an interface designed for faster onboarding. Bulk Action Tools, meanwhile, looks to enable hoteliers to apply changes across hundreds of hotels or budgets with fewer clicks. Daily-Level Forecasting Architecture is designed to help build more granular, flexible plans that respond to real market conditions. According to the company, other enhancements to the platform include Self-Service Onboarding & Setup; Built-In Collaboration Tools; Power BI Integration and Pre-Built Financial Drivers.