Broadvine released several product enhancements to increase the breadth and flexibility of its budgeting and forecasting application. New capabilities include initializing a plan from the trailing 12 months of actuals or based on best-case logic, which uses a combination of actuals, forecast and budget values. Additionally, driver values can be automatically reverse-calculated from the source data.
“The new initialization options provide time savings to our users while simultaneously enabling improved forecast/budget accuracy,” Lex Raleigh, VP of product development for Broadvine, said in a statement. “With just a few clicks a user can create a budget with actuals-to-date, forecast for the next 90 days and budget to finish the year. Driver values—for example, cost per occupied room, or percent of same department revenue—can be derived automatically, allowing the user to spend less time doing math and more time optimizing occupancy and revenue. These planning enhancements support Broadvine’s core mission of enabling back-office automation such that hotel management companies can spend more time focused on the guest experience without sacrificing effective financial planning and oversight activities.”
Broadvine’s application platform provides real-time data and analysis for use in making more strategic and profitable decisions. By consolidating data from various property-management systems, third-party data sources, time and attendance systems and the accounting platform, owners and operators have complete revenue and statistical-analysis reports and insights to make better decisions, all in real-time and across their portfolio.