CARMEN SOLUTIONS – FOR ALL YOUR HOTEL FINANCE NEEDS
Navigating the hotel business on a financial level can be very daunting, exhausting and frustrating. Whether it is starting out, surviving or sustaining the business, any company needs a reliable partner to assist them in this very important aspect as it is the business center that will determine the success or failure of the company.
Carmen Solutions is a Financial Management Group that caters specifically to the hotel industry. The company understands how hotels work and operate and they have acknowledged and identified the challenges in running such business. The problems faced by hoteliers can be massive and complicated due to the type of data and financing that is required, along with a constantly changing environment and influx of old and new information that is vital to the hotel’s existence. Carmen Solutions has been around for almost two decades, continuously improving and developing applications that provide hoteliers with the means to operate their business with ease, efficiency and most importantly, confidence. Their longevity in this field has given the clientele the assurance needed in this partnership. Covering 8 countries and working with over 200 clients, Carmen Solutions has remained reliable and most importantly, relevant to the booming hotel industry. They know the ins and outs of finance and accounting and are updated with facts and data to help your company not only thrive but perform above and beyond in a sea of competition.
In addition to that, Carmen Solutions offers an Accounting System that covers all of the complicated and meticulous accounting details so that it is easy to use, minimizes workload and able to maximize resources while being flexible at the same time to adapt to already existing systems and changes when and where needed. However, they are also capable to generate an entirely new system suited for the company framework. So whether it is partnering at the very start of your hotel venture or an invitation already in the middle of operations, Carmen Solutions can fit in accordingly.
Carmen Solutions software is geared towards the achievement of these four main components that will assist hoteliers to achieve their desired business outcome:
- Total Integration – our applications do not work independently but are rather incorporated with each other in one cohesive system that results to a common outcome and goal.
- Enables confident decision making – hoteliers are able to adjust and decide in a timely manner financial issues through a precise picture of the current and projected financial status and condition of the company.
- Fuels business productivity – by having an efficient team and processing system, there is more time spared for other areas of the business that need monitoring. In effect, it will generate more output as energy is focused more on other needed scenarios.
- Quick implementation and low cost ownership – Carmen Solutions boast about fulfilling from start to finish. Easy installation, immediate access and response to support needs, less manual work that reduces added expenses are just a few under this scope that allows the company to save resources on these matters.
Carmen Hotel Finance Solutions offers programs in the following fields:
- Income Auditing – One tasking area of the hotel business is income auditing as it entails meticulous tracking of funds, transactions, balancing and accounting for all while finding discrepancies, investigations and developing statements for management’s reference. With Carmen Solutions, an application is provided to allow the whole income auditing procedure with easy clicks for daily work. This includes the ability to capture all operation activities and translates it to accounting transactions and will automatically create accurate ledgers.
- Account Receivable – a big role in the company’s revenue and assets, account receivable is one area that needs accurate monitoring and projecting. Carmen Solutions assists by providing a program to not only monitor cash flow but also to increase it. Credit card commission fee rates and tax rates can be analysed and configured to find the best possible option to work to the advantage of the hotel as opposite to losing due to these entities.
- Account payable – this program was designed to optimize workload in this area. Meaning it can handle manual transactions and create identical information to ease the job capacity. it also arranges the transactions in organized batches to ensure a more efficient and balanced business process by avoiding delays in payments and identifying a system fitted to their need to improve cash flow in this department.
- General Ledger – this program allows hoteliers to get an instant and updated picture of the financial transactions in real-time through a personalized processing engine. In effect, internal controls and auditability is improved. It also immediately shows if there is any influence of financial postings in the entire system so sound decision making can be made through these presentations.
- Financial Statement – as a crucial part of finance, Carmen Solutions provides a wide range of choices to generate an unlimited number of templates for financial reporting that is applicable to each hotel’s specification. It promotes an effective way to manage all areas of each cost center with user-friendly computerized tools.
- Daily Management Report – Carmen Solution has come up with a tool that integrates with excel and is a customizable format for easy use. Daily revenue reports can be easily accessed, filed and applied.
- Inventory Management System – inventory can be very tedious and painstaking. Carmen solutions supports either FIFO or Average costing methods and is able to track movement of products in all locations for an unlimited number of years. This allows for a quicker and more comprehensive inventory even if an old system is in place.
- Purchasing – this solution offers a customized feature on the hotel’s purchase orders, organizes these data and personalization that includes a company logo, authorization and online approvals.
Overall, Carmen Solutions has proven its expertise through the above mentioned applications and programs in the hotel industry. It is what every hotel needs as a partner in the field of finance. Established hoteliers have put their trust after benefiting from Carmen Solutions and have only great things to say about the team and services:
- efficient, completing a task in the most reasonable time frame possible
- highly responsive to inquiries and reports
- easily adaptable
- flexible and customizable
- professional, helpful and easy to work with
- competent and knowledgeable in their field
- complies with standard hotel operating procedures and policies
- able to integrate with already existing programs
- able to address and solve problems rapidly and promptly
- provides new developments and additions to their functions
- projects potential issues but ready to counter in the event of occurrence.