Aptech has launched its next-generation budgeting and forecasting solution, known as TVNG, which was built specifically for hotel operators. TVNG is designed to give finance managers and department heads to make more informed decisions. The solution actively engages budget managers with an intuitive non-Excel interface that walks them step-by-step through the process and allows them to document their reasons for each decision, according to Aptech, a Pittsburgh, Pa.-based provider of scalable accounting, business intelligence, financial planning and management solutions for the hospitality industry.
“Ultimately, a hotel organization’s budget needs to be a numerical expression of the strategic plan and that requires engagement, communication and collaboration,” Aptech president Jill Wilder said in a statement. “TVNG offers a full suite of integrated components that on one side, ensures ease-of-use and a flexible budgeting process for department managers, and on the other side, more advanced tools developed specifically for the needs of the finance team.”
Purpose built for hotels, TVNG is designed to provide property finance teams with a complete set of tools, controls and built-in reports, as well as the ability to integrate with Excel. The platform features flexible budgeting functionality using a guided approach with an interactive budget navigation map tailored to each department, which orients each user to where they are in the process and how they are doing against finance guidelines, according to the company.
Data Integration
With the integration of actual data from PVNG, blended forecasts are available throughout the year to manage against budgets, identify trends and track the specific data needed to make changes, according to the company. TVNG has two forecasting options, at the account level or below the account level. In addition, the company noted that long-term projections can be generated using forecasts to estimate broader trends for strategic planning purposes.
TVNG allows user-defined drivers, provides more accurate cost analysis and adjusts the organization's bottom line accordingly—for a single property or across a full portfolio from one central location, according to the company.
Self-service reporting through TVNG is designed to makes the budgeting process less complicated, so all approved users can run reports at any time to see a view of the data, as well as the rationale behind the data. The company further noted that with over 60 flexible standard reports available out of the box, all reports are configurable and immediately accessible.