Otelier has officially announced a renewed version of TruePlan, the company’s modern budgeting and forecasting platform.
According to certain reports, the stated version has been meticulously redesigned to create an attractive proposition for hotel businesses that are looking to move beyond spreadsheets, outdated tech or legacy tools and accelerate financial planning cycles.
More on the same would reveal how users can now leverage a completely new user interface which, on its part, delivers a modern technology experience. This experience, at launch, is inclusive of a faster, more intuitive ways for hotel groups to plan, collaborate, and execute their financial strategies across dozens or hundreds of properties.
To be more specific, users can build smarter, more accurate forecasts at the daily level, apply bulk actions to accelerate workflows, and collaborate with cross-functional teams, all within a single, seamless platform integrated into Otelier’s ecosystem.
TruePlan’s latest version, in fact, makes it possible for hoteliers to reduce the amount of time spent in “budget season” by almost 30% on an average, as they now have access to pre-populated data based on historical and hospitality-specific drivers.
Talk about the whole development on a slightly deeper level, we begin from its new modern UX itself, something which is specifically designed for ease of use and faster onboarding so to cut down on training time and help teams move more quickly through workflows.
Next up, we must expand upon the availability of bulk action tools that allow you to apply changes across hundreds of hotels or budgets with fewer clicks, thus reducing manual work for finance and operations teams.
Another detail worth a mention is rooted in the platform’s daily-level forecasting architecture, which allows you to conceive more granular, flexible plans that effectively respond to real market conditions, putting-together an ideal setting for high-volume portfolios and dynamic operating environments.
Beyond that, we have a facility committed to self-service onboarding and setup. Here, the idea is to let users get started without lengthy IT involvement and manage your own chart of accounts.
Hold on, we still have a few bits left to unpack, considering we haven’t yet touched upon an assortment of built-in collaboration tools that come in handy to keep teams aligned with comment threads and automated alerts, while simultaneously giving them access of a full change log for transparency and accountability.
We also haven’t touched upon TruePlan’s BI integration. This translates to the way users can benefit from curated accounting and planning reports, enabling faster insights and more informed decisions.
Rounding up highlights would be the solution’s pre-built financial drivers that empower users to start the proceedings right away.
Among other things, we ought to mention how this new technology is built on Otelier’s centralized integration framework, which treads up a long distance to facilitate real-time data flow between tethered solutions for business intelligence, Accounts Payable automation, night audit compliance, and financial reconciliations. Such a setup helps hoteliers build budgets with real time data from multiple source systems like PMS and labor solutions.
Founded in 2020, Otelier’s rise up the ranks stems from providing the industry’s most comprehensive platform to help hotel owners and operators automate back-office processes, as well as unlock a 360-degree view of their businesses.
The company’s excellence in what it does can also be understood once you consider it is presently serving more than 10,000 hotels worldwide.
“Budgeting and forecasting should be powerful, not painful,” said Russell Meek, Senior Director of Product Strategy at Otelier. “We have rebuilt TruePlan based on customer feedback, and the result is a platform that’s not only faster and more scalable – but one that meets the real-world needs of today’s hotel finance teams. With TruePlan NextGen, you can go from data to decisions in a fraction of the time.”
