Your management checklist

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Written by Paula Chaplin

How you track your business is dependent on how your systems are set up, what your processes are, and how you structure your roles and responsibilities. Even with these being unique to each of our customers, there are still basic checks you could be working with to help manage your business better.

I’ve put together a checklist of some our most popular management areas and the reports we recommend you use to help manage those areas.

To review internal staff workloads

  • Which consultants are creating bookings – Consultant report and Financial Analysis reports
  • Which consultants are converting bookings – Consultant report and Audit report

To check for fraud / irregularities

  • Agent name change – Reservation Audit Trail and Audit report
  • Reservation name change – Reservation Audit Trail and Audit report
  • Reservation date change – Reservation Audit Trail and Audit report
  • Voided payments – Payments received reports
  • Cancelled close to, or after, travel – Financial Analysis reports
  • Bookings travelling unpaid / part paid – Financial Analysis reports

Financial management

  • What’s outstanding? Payments Due report
  • What Credits / Refunds are being issued? Payments received reports
  • What Invoices have been voided? Folio / Invoice report
  • Checking that reservations are paid before travel – Payments Due report
  • Writing off underpayments – Folio / Invoice report
  • What do your debtors owe? Payments Due and Debtors reports

Reservations management

  • Are your Provisional Bookings being managed? Provisional Expiry report
  • Check on Overbookings – Overbooking report and Occupancy calendar
  • Check on bookings with Overrides – Financial Analysis reports
  • Check Waitlisted bookings – Standard and Financial Analysis reports (or Requests Received and Component reports)
  • Cancellations – check cancelled date, vs confirmed date and charges – Financial Analysis report

Property management

  • What activity should the lodge prepare for? Operations Chart and Arrivals / Departures reports
  • Who arrived / stayed longer / didn’t arrive? Rooming Discrepancy report
  • What transactions happened at the lodge? Sales Analysis / Sales by Folio / Sales by Reservation reports

Tips for when running reports:

  • Check Report Profiles reflect correct / current Rate Types and Accommodation Types. This should be done every time Rate Types or Properties / Accommodation Types are added to the system.
  • Deactivate Extras no longer in use.
  • Move Users into “No Longer Here” User Group as soon as they leave the Company. (You should not delete Users).

Tracking your business using reports can help you see trends, spot inconsistencies, measure performance and predict upcoming events. This analysis can help you plan changes to your resources, pricing and sales strategies in order to secure and grow your business.

For more help on profiling reports, please contact support@resrequest.com.

You might like this related article: See your business clearly.

See your business clearly

Written by Paula Chaplin

This is the time of year you start looking forward and trying to gauge what the year ahead will bring. If you happen to be in a region beset by issues (perceived or real) negatively impacting tourism (terrorism, ebola, government unrest etc) – this is probably quite a trying exercise. Unfortunately we can’t help you predict the future – our crystal ball is still downloading…

But what we can help you with is forecasting data in ResRequest – which you can interpret (because no-one knows your business like you do) and try to spot booking and travel trends, which may give you a reasonable idea of what next year will be like.

To that end – we have put together some reports (all of which you can pull out of ResRequest) – and added some graphs (we used Google Spreadsheet, but you could use Excel or Numbers) – to give you an idea of the kind of information you can get from ResRequest, and different ways of viewing it.

The numbers we’ve shown are fictional, and not representative of any company’s actual business. The point of this mailer isn’t the figures – it’s the concept of data interpretation and visualisation.

We show you below how to pull the reports which are feeding these graphs – but your company will be set up in a unique way, possibly with properties, accommodation types or rate types that should be excluded from statistical/revenue reporting. If you want to be 100% certain that you are looking at accurate and relevant data – please get in touch so we can go through it with you.

It’s important to note that our reports are only as good as the data you capture. If you are not capturing data consistently – your reports will not give you an accurate or complete picture of your business.

The information I used to create these graphs was pulled from either the Sales Analysis or, my personal favourite, the Financial Analysis Report. To find this information, and much, much more, I’ve prepared a guide on how to use the Financial Analysis Report. If you prefer that we talk you through this step-by-step just drop us an email. Enjoy!

Future bed nights: comparing previous years

Looking at what your bed nights were like this time in previous years, relative to how the year turned out. (To pull information for this graph: you need to run a report per year and stitch the information together. To see bookings as of 1 Nov 2013 for 2014: Travel Dates = 1 Jan – 31 dec 2014, Create Date = 1 Jan 2000 – 31 Oct 2013. Group by Status, showing Bednights.)

Booking lead time

Look at booking trends – how far in advance do your reservations come in. (To pull this report look at the FAR – Group by Create Date, and look at Arrival Date. Export the report and create a variance column between Arrival Date and Create Date – this is your lead time.)

Revenue compared with Yield

We know you are interested in yield, not just bed nights. By combining your revenue and yield on one chart, you can see pricing trends for each property, or year.

(To pull information for this bar graph, I ran the FAR report, grouped by property, showing net revenue and yield.)

Recognise your top agents

You need to know which agents are your top performers. By plotting your top agents for the last 2 years, and your forecasted agents for the next year, your marketing team can quickly see who to check-in with, or applaud.

(To prepare data for this chart, I ran the FAR report, grouped by agent and sorted by revenue.)

Know where your business comes from

Knowing where your business comes from can be an effective tool as you develop your marketing and sales strategy. Measuring your reservation source shows you which campaigns were the most successful.

(This report was easy because my database had source code information, I generated the results using the FAR report, grouping by source code and sorted by revenue.)

Trending markets

See where your business is coming from geographically by tracking reservation nationality or tracking where your agents are based.

 

 

 

(This was super easy, I ran the FAR report, grouped by the agent postal code and sorted by revenue. The trick to this chart working is that your agents must have their postal (or physical) address details recorded!)