BudgeTools was founded out of a need to streamline the rooms forecasting process. When the forecast needs to be done, it usually involves input from several people. Crunching numbers on spreadsheet after spreadsheet, hoping to get it right the first time, is a pipe dream. Anyone in the hotel industry who has attempted to write a forecast, knows that it will go through many, many revisions before it is approved.
The days of spending hours on forecasting, for some hotels, still exist. The frustration and lack of patience to “get it right” often results in just plugging in numbers, hoping for the best result when the Revenue Manager presents it to the Executive Committee.
Since so much of the hotel’s expenses and other revenues are based on the rooms forecast, an inaccurate rooms forecast can spell disaster and that is why BudgeTools provides a solution that not only saves time, but incorporates these three principles:
Sharing Data - BudgeTools imports numbers from Property Management Systems, Financial Systems, Group Booking and Reservations and other Revenue Management Systems. BudgeTools also exports your data to be shared with your business intelligence and/or financial system. This feature nicely compliments the collaborative approach to forecasting.
The Collaborative Team Approach - we know that more than one person has input when writing the forecast. The BudgeTools’ platform encourages and makes it easy for a group to participate in the process of putting together the forecast.
The Rolldown - change one number, be it rooms or average rate, and the entire forecast shifts according to past trends; never overselling the hotel.
We are always working on updates to BudgeTools which are seamlessly provided to all of our users.