Editorial Board   Guest Author

Mr. Lachance

Paul Lachance

President, Smartware Group Inc.

Paul Lachance is founding partner of Smartware Group, Inc., producer of the modern Bigfoot CMMS solution for maintenance organizations worldwide, and currently serves as the company's president. Lachance has developed specialty CMMS and EAM software for maintenance professionals for almost 20 years. Prior to founding Smartware Group, Mr. Lachance and his business partner Dave Peelstrom started a software company in Colorado during the dotcom boom. After the company was acquired, they moved to New Hampshire and formed Smartware Group to fill a niche in the maintenance software market. Having started two businesses from scratch, Mr. Lachance understands the fundamentals and complex mechanics of growing a successful company. His creative management style encourages employees of all ranks to bring new ideas to the table and to pitch in wherever it is needed. Mr. Lahance's effective communication skills set him apart as a true partner that sets expectations for clients and always comes to the table with a solution. Mr. Lahance has spoken at a number of conferences and industry events, including the International Maintenance Conference and FABTECH. He also contributes to such industry publications as Plant Engineering, Processing Magazine, Food Logistics and Industrial Maintenance and Plant Operation. Mr. Lahance is a graduate of Bentley University.

Please visit www.bigfootcmms.com/company/smartware-group for more information.

Mr. Lachance can be contacted at 866-858-7800 or paul.lachance@bigfootcmms.com

Coming up in October 2020...

Revenue Management: Maximizing Profit

Hotel Revenue Management continues to evolve at a blistering pace. Driven by technological innovation and new distribution channels, there are some dynamic opportunities for expansion in this fast-growing field. The technology is primarily designed to help revenue managers further refine their operations and pricing models to maximize hotel profit. For example, hotels can't be all things to all people, so a key strategy is to precisely identify their target audience. By employing geo-targeting techniques and analyzing behavior such as previous bookings, on-property purchases and online shopping practices, there is an increased capability to define guest demographics. By segmenting customers in more specific ways, hotels are able to create more personalized experiences which, in turn, allow managers to optimize their room rates. It is also an effective way to fulfill the unique needs and preferences of the individual. Another methodology is to consistently monitor the competition's pricing strategies. There are software tools that analyze a competitor's current rates, and then allow a hotel to make its own pricing adjustments. It is also a useful means to conduct forecasting models. Other technologies that are being integrated into a revenue manager's toolkit include Artificial Intelligence in the form of automated algorithms, and Voice Recognition (VR) for data inquiries, rate changes, and booking behavior. Predictive and analytic software programs are also being leveraged to provide more forward-looking data, instead of the usual reliance on historical performance. These metrics allow managers to be more proactive - rather than reactive - with their revenue strategy. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.