From time to time, I like to profile technology companies that might help improve your profitability. This week, I looked at Norwegian software company d2o (deadline2online), and talked with CEO/founder Young Nguyen and North America Managing Director Scott Bunce about what their product does.
“With the technology today, we don’t need reporting deadlines. We need information faster than before.”
You need real-time access to information, rather than just at the Monday morning meeting with your managers. The product is designed to enable your organization to make the planning, forecasting and budgeting process more accurate, efficient and fun.
Current decision making processes in hotels are often not logical. To order a $50 item, three signatures are often needed on the purchase order. So you have a lot of managers putting expenses on their credit cards.
Additionally, there is confusion on the part of managers in where they stand in relation to their goals and targets for the year. Matching resources to targets is important.
We empower people to make decisions before it’s too late. Rather than making a business intelligence database, we designed a “real-time planning cockpit” for each decision maker.
The first thing they focus is the top line revenue, the occupancy – and then the resources linked to that. So we track three elements in Performance Management Intelligence suite (PMI): revenue/occupancy, food costs, labor costs.
What our customers do in the morning is login to PMI and see how the cost forecasts match up with performance.