POS Reports to Include on Hotel Business Intelligence Dashboard
Revenue managers have some of the most valuable intelligence in their data arsenal. These include sales figures, guest information and key performance indicators (KPIs). If you don’t have the ability to easily view and visualize your POS data you won’t be able to make important decisions.
POS reporting is vital to your hotel’s BI program. Point of Sale reports are BI reports that are generated based upon data a business receives from its POS system. Hotel Management Software in Michigan can centralize the data from your hotel’s POS system to create actionable reports that track revenue, analyze hotel performance, finances, as well as many other departments.
Your hotel’s POS system can be a treasure trove of information if you manage it. These are the essential reports that you will need to create a POS dashboard that is effective.
A summary report is the best way to get a quick overview of all data from the POS system. These dashboard reports provide a quick overview of the current business state and are available in real time. An overview or summary displays key facts like net sales for a specific period, total transactions, cumulative invoice figures and outgoing expenses.
Inventory tracking with Hotel POS Software in Michigan is easy to use and requires minimal effort. It can also be very effective in maximising revenue. POS data can be used to simplify the ordering process, diagnose wastage and reduce it.
An inventory POS report shows the inventory status. Periodic inventory reports can be used to check stock levels and the overall value of the hotel’s inventory. Technical inventory reports provide detailed information such as raw ingredients, items under or above a certain limit, and reports on items and requisitions.
Many hotel BI tools include inventory analytics. This feature can be used to simplify the reporting process and expand the capabilities of historical and live reports. Some dashboards of live POS reports showcase order workflows. You can also set up alerts to receive inventory schedules or outgoing delivery payments.
Employee Management Reports
To track individual employee performance throughout your company, you can use POS data reporting in your BI software. Reports can be generated by POS dashboards that show top performers and changes in employee performance over time. They also indicate which employees need to improve. You can, for example, create reports that show the revenue generated by each bartender and server in your F&B section or the total revenue they have brought in over a given period.
Accessing your Hotel Billing Software in Michigan will allow you to view a summary about each employee’s performance. You can also access information such as the number of transactions, hours worked, cumulative sales, labor costs, and percentage. Some BI software offers time-entry reports and duty allocation based upon job titles and employment types.
Your POS software can provide valuable data that will help you to optimize your schedule, manage labor costs, reward hardworking employees, and identify areas of improvement.
Your POS data can be used to create helpful guest or customer reports using your BI dashboard. These reports can be used to understand customer behavior and patterns, and how they react to guest experiences. These reports can help you to understand your hotel’s strengths and weaknesses, its reputation, as well as what areas need to be improved.
With POS data, guest reports can be generated that provide a comprehensive overview of guest behavior and include data from every transaction. This report can be accessed and updated quickly with some BI software. A guest report that is well designed will give you a wide range of data types, such as guest personas and country of origin, length of stay and guest history, preferences for rooms, and overall quality of service.
To better understand your customers, use guest POS reports. Analyzing trends in guest behavior can help you to predict future demand and determine where they are most likely to spend their money. Using data-backed strategies, you can optimize marketing and enhance your guest experience by targeting specific segments.
High quality revenue reporting is essential for making good business decisions every day. A revenue report will be available for every modern hotel BI platform. This report will include data sourced directly from your POS system. These reports include detailed accounts of customer payments and accounts payable as well as an overview of the hotel’s revenue performance over a specific time period.
Are you ready to automate hotel POS reports?
With the best Hotel Management Software Solutions in Michigan for the hotel industry, you can take control of your POS reporting. You can break down data silos and compile this report, plus many more, using a single flexible BI platform. This will make hotel data reporting as simple as clicking a button.