Businesses have been forced to keep their teams lean for lean times. However if we’re hoping for a full travel recovery in the latter half of 2021, the truth is that it’ll be a gradual process, with 2019 numbers likely not achieved until 2023 or even later. This means there will be a lag period where operating expenses outweigh revenue, and labor contributes a lot.Knowing that you have to keep costs down, you also have to be able to ramp operations and services back up as the recovery gets underway. Normally, this would mean taking on more staff, but now you have numerous tools at your disposal to help automate some of the more basic tasks so that your teams can be more productive.
Our signature product, TransForm, offers time-saving tools beyond its core function of helping win chargeback disputes and preventing fraud. Let’s run through them.
With TransForm, a hotel manager can easily divide up a total amount that’s due into a series of instalments with payments scheduled for prespecified dates. These incremental transactions can be for a single bill or from different payees and multiple credit cards towards a single group master folio. Whichever the case, they can be easily setup for scheduled delivery in our admin.
Automatic Payment Reminders
Beyond just scheduling an upcoming payment date with a notification sent to the guest, you can also set up past due reminders at a named frequency so that your teams don’t have to do this on their own time, which as a repercussion can often hurt the rapport with the unpaid customer.
Whether it’s the front desk, reservations team, salespersons or accounting department, someone needs to keep track of trailing accounts receivable. Whenever a payment reminder is sent to the guest, whether it’s an instalment or for an overdue invoice, members of your team can also get a notice, ensuring they are kept up-to-the-minute with all outstanding bills.
In the decade ahead, time literally is money for hotels. We don’t have the resources to constantly follow-up with guests about imminent payments or those that are past due, and yet we still need as much cashflow as possible. The only way to meet this challenge is with the best possible payment platform. Ask us about how TransForm can help set your hotel up for success.