Release Notes - July 28, 2022
We have exciting news for Revintel customers who use the agile and empowering Budget & Forecast Upload feature. After our upcoming deployment on August 3, 2022, you will be able to download a pre-formatted Excel template straight from Revintel, populate your data directly into the template and perform the upload processing yourself.
These enhancements will simplify and expedite the entire process. You will no longer have to convert or modify your data prior to uploading it or send an email to the Revintel Support team requesting to process the data on your behalf.
In just minutes your budget and and forecast data will be ready for you to use in three Revintel reports and at the day level for customized reporting in Compose:
Read below to learn more about how uploading your budget and forecast into Revintel could easily save hours of work and make you the most impressive and prepared revenue professional your property has ever seen.
If you don't already use the Budget & Forecast Upload feature, you may be wondering what's so great about it and why should you bother. We're glad you asked!
Elevate your Budgeting Strategy to a New Level in Revintel
Let's say you just completed your day-by-day budget for 2023. As you probably know, to achieve optimal results, your budget strategy should be built at the market segment level and include KPIs around each segment while considering previous and current trends within the marketplace and your hotel's environment. Now, you'd like to see how your newly minted budget might compare to your performance TY (this year).
After spending a few minutes uploading your 2022 and 2023 budgets to Revintel, you will be able to view reports that will give you that exact comparison — at the market segment level. With this information, you'll be able to understand what business is coming in and from where. You'll know if you are performing better with direct bookings on your own website versus third-party channels including GDS, OTAs, wholesalers and more. You'll also be able to see if your budget will work as you originally planned or would benefit from a few more tweaks.
Refine your Forecast in Real Time as your Market Fluctuates
Imagine you've uploaded your latest forecast to Revintel, sliced and diced the data, and gotten it to a place you're feeling confident about. Then, overnight, your GM says you need to make significant changes due to news about an expected weather event or another COVID variant that may impact your business and thus, your forecast, in the next 90 days - and your GM needs it updated for a meeting later that day.
No sweat! You can update your forecast and quickly upload it to Revintel, then open your Pace and Forecast report to view a comparison of your previous forecast to your new one. You'll instantly be equipped to speak to those changing parameters and their expected impacts with your leaders, easily explaining where you adjusted the forecast and why.
Take your Data on the Go with Compose
Once you've uploaded your budget and forecast to Revintel, that data is available in Compose as well. Compose, driven by Power BI, enables you to create unique and custom-view insights into your business and share data stories faster with highly-visual interactive reports and dashboards. You can tailor reports to your preferences and design personalized dashboards with easy-to-use drag-and-drop functionality. This interactive feature also provides invaluable portability — grab your laptop, connect to a monitor in your conference room and conduct your performance reporting right there on the fly.