NEW YORK—Accenture and Oracle have developed a new cloud-based financial solution meant to help hospitality companies improve business management by giving them better access to real-time financial data.
Today, hotels typically use manual processes to pull together data from separate systems from each hotel property, which creates challenges to consolidate and accurately report and analyze the data, according to the company. The Accenture Oracle Business Group’s new Hospitality Finance Cloud Solution enables companies to access financial data in real-time from multiple data sources—such as internal property management systems and external financial institutions—and connects to existing on-property systems to automate workflow approvals and establish standardized operations processes.
According to the company, the solution lets businesses capitalize on the key benefits of the cloud, which include gaining real-time access to information through mobile devices, tablets and computers; decreasing the effort and time needed to keep technology current; and reducing unnecessary risks and infrastructure costs. Offered on the Oracle Public Cloud, the solution can scale according to the requirements of the business.