priZem Introduces Radical DRR
NEW YORK, NY, April 24, 2006. priZem is proud to introduce a replacement for the error prone and time consuming Excel-based daily revenue report. priZem's Daily Revenue Report module combines the power of a database with the ease of importing revenue and statistical data directly from the property management (PMS) and point of sale (POS) systems.
Historically hospitality accountants have used the PMS and POS night audit reports to create Excel-based daily revenue reports, which are then used to create an income journal to be imported to the back office system to produce monthly financial statements. While these reports have been improved by interfaces to back office systems, the comparison of daily income to the budget, forecast and prior year data is still predominantly managed by complicated spreadsheets which are often difficult to use and require considerable time to complete.
Alternatively, priZem's Daily Revenue Report easily imports covers, occupancy, revenues, etc. into its database so that an immediate daily report can be produced with little effort. Daily information can then be easily compared to forecast, budget and prior year with the flexibility of reporting the information for any desired range of dates to identify patterns and analyze business flow. The end result is a revenue report that maintains data integrity within the same database that also provides an income journal to export to or interface with any back office system, consequently increasing efficiency and enhancing accuracy.
Additionally, when utilized together with priZem's Labor Intelligence (labor productivity reporting), the importing of actual hours and wages can be compared to labor forecast, budget and prior year data, thereby allowing for the measurement of labor productivity against daily revenue and statistical information.
Paul West, President and CEO of priZem states, "Properties can now incorporate an automated income audit process where the daily revenue reports and income journals are produced more quickly and easily with the dependability of a database solution."
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