- Hotelogix connects its PMS with Zoho Books.
- Hotels can prepare financial reports faster.
- Market expected to reach $6.6 billion by 2035.
Accounting tools save time
Hotels are also linking accounting software with other business systems. About 65percent of operators connected their financial systems with reservation platforms to keep reports in one place. Another 63 percent linked their accounting software with purchasing systems, while 51 percent connected it with payroll and staff management tools.
Some hotels are also using newer accounting features. Artificial intelligence was part of 34 percent of enterprise hospitality accounting platforms and helped cut invoice checking time by 27 percent. Mobile accounting apps were used by 46 percent of hotel finance teams.
However, connecting accounting software with other systems remains difficult for some hotels. About 45 percent reported problems linking the software with older property management systems. Data transfer problems affected 37 percent of projects and delayed their rollout. Another 34 percent of finance teams said employees found it difficult to learn the new systems. Hotels using older accounting software also spent nearly 24 percent more on integration.
In April, Storey Hotel Management Group selected Stayntouch’s property management system for six hotels with more than 500 rooms.
