The Data-Enabled Finance Function in Hospitality is crucial for modern hospitality organizations to accelerate processes, gain deeper business insights, and partner strategically across the business. However, many finance operations are tied to inflexible legacy enterprise resource planning (ERP) systems that are not equipped to handle the data velocity, volume, and veracity of today. This has left hospitality finance leaders with daunting questions about how to create insights from the data deluge they are dealing with and how to leverage best-of-breed and niche solutions specific to hospitality without ending up with a complex software stack. To prepare for a future in finance that is unpredictable, hospitality leaders need to understand how to access and aggregate more data faster, such as occupancy rate, bookings, restaurant pricing, and more. They also need to leverage best-of-breed and niche solutions specific to hospitality and meet their obligation to be a strategic asset and contributor to the larger business.
