What is FairPayroll & how can it help you?
FairPayroll, a software solution by Fairmas, enables accurate planning of all relevant costs per employee and per department that result in precise analyses for all management levels. This means that you can freely plan relevant costs per employee even if they work in more than one department.
The story of someone shaped by the hotel business
Niels Schröder, the Managing Director of Fairmas GmbH, started his career in the hospitality industry at a very young age. He worked his way up from hotel operation to regional revenue manager at an international chain. His well-rounded experience and deep understanding of the ground realities of the industry paved his way to a career defined by hospitality.
Fairmas’ Top Newly Added Hotel Software Features of 2021
As the new year comes around in full swing and everyone makes plans of introspection, change and creating a better, more up-to-date version of themselves, Fairmas has its own set of milestones that were achieved in 2021 and goals to look forward to in 2022.
What are the top hospitality trends in 2022?
Every year, the hospitality industry learns and adapts to new trends. How customers interact with the hospitality industry creates room for further growth. As globalization increases, and traveling becomes more affordable, the hospitality industry sees a growing influx of customers. In order to succeed, it is important to not only adapt to the new trends, but also be aware of what the future may hold.
Efficient multi-year planning of hotel profitability
The Long-Range Planner integrated in FairPlanner enables easy multi-year planning based on flexibly selectable scenarios such as budget, forecast or what-if. Planning takes place in the hotel’s own profit and loss statement and simplifies the strategic financial and profitability forecast for the next 10 years.
Consolidation – Hotel key figures at group level
To meet the challenging demands of the controlling and steering function, head offices of large hotel companies must be able to access all revenues, costs, and relevant hotel key figures quickly and easily. The level of detail of the analysis should be flexibly adjustable so in the event of deviations from targets, it is easy to switch from the group, country, or cluster level to the hotel level.
Forecasting on sight
A forecast is a prognosis of future developments. When it comes to predicting hotel demand, we can never really say that we know exactly what will happen, but rather what is highly likely to happen. The forecast quantifies the uncertainty of the future.
5 Tips to Successfully Introduce Rolling Forecast with FairPlanner
The crisis has shown that in turbulent times and in a highly dynamic market, close monitoring of hotel performance by doing a rolling forecast is crucial. The introduction of FairPlanner as a financial planning tool simplifies the entire forecasting and budgeting process. The rolling forecast feature enables regular performance analysis of the entire hotel business with a focus on profit.
How to jump-start financial planning for post-Corona scenarios
Everyone is affected by today’s global pandemic situation, and the hospitality industry is one of the hard-hit industries. However, there is one truth: There will eventually be an end to all of this and businesses will resume its normal operations, whatever that new normal may be.
Top 10 features of an effective hotel financial planning and reporting tool
In order to stay in line with the business strategy and achieve targets, any hotel business requires accurate financial planning, revenue monitoring and management reporting to ensure a healthy bottom line.