Five star hotel checks out spreadsheets
Asset management software reduces administrative burden
Five star hotel Chewton Glen has implemented asset management software to manage its numerous resources and reduce its reliance on complex spreadsheets.
The hotel, which has an annual turnover of £10m and employs over 200 employees, manages more than 5,000 assets and wanted greater visibility and control.
‘The hotel’s standing is dependent on two key performances, that of its staff and its assets, and deficiencies in one area will adversely affect the other,’ said financial controller Mike Rice.
‘So not only do we have a five-star reputation to uphold, we have an array of five-star customer-facing assets to maintain. It is extremely important that assets are effectively monitored, well maintained and properly accounted for in an accurate system.’
The hotel had previously been using spreadsheets to manage its assets but the worksheets had become unwieldy, inflexible and provided no practical method for tracking assets.
‘Following the implementation of Real Asset Management’s Asset 4000 and Track 4000 modules, the hotel has been able to vastly improve the way it manages its resources,’ said Rice.
‘I am now able to instantly access a complete history of movement for any one of our assets between different locations, cost centres or managers. More importantly, I am also able to manage the hotel’s depreciation and financial reporting in line with our auditor’s requirements without complex workarounds.’
The system has significantly reduced the administration burden on the finance department and provided improved reporting capabilities and increased productivity.
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