Get advanced billing capabilities for the hospitality industry
RecVue was designed to deliver a bottom line based on accurate reading of a company’s most essential data sets, including trusted billing details, accurately reported revenue and trusted partner compensation details. The platform features a configurable interface to GL for accounting entry accuracy.
Findings from a recent study by the digital media analytics firm, DoubleVerify, highlight data management as a significant operational and revenue hurdle, with nearly three-quarters (73%) of online publishers spending “too much time manually processing” data and 80% stating this excessive time spent limits their ability “to optimize inventory performance and revenue.”
Consolidate billing and revenue on a unified platform to update and automate your order-to-cash cycle. Learn how RecVue helped consolidate internal systems by downloading the case studies for ACI and Textainer.
Leaving such tasks to manual processes wastes time and money and is a waste of staffing resources which could be put to better use toward strategic growth. Learn more on our blog about how to consolidate your complexity.
The RecVue platform is built specifically to eliminate unnecessary manual data entry, automate manual workaround and eliminate reliance on spreadsheets by integrating with existing systems to aggregate data and manage your company’s transactional data processing.
The role of accounting has transitioned from ‘bean counters’ and budget planners to future-oriented, strategic partners. Outdated tools such as spreadsheets, formerly the backbone of finance and accounting, and the manual processes they promote, must evolve and give way to better tools for the finance team evolution to maintain its pace.
The RecVue solution is built to anticipate the constant change in recurring revenue business so companies can keep pace with today’s complexity, reduce a reliance on manual processing and limit pricing errors – main causes of revenue leakage.
You may be losing out on revenue you weren’t even aware you had, a potential bottom-line impact equating to a 1-5% earnings loss, historically. To learn more about the dangers of revenue leakage and how to stop it, read our executive brief.
The unified platform offerings of the RecVue solution, which includes a partner compensation module in addition to a powerful billing engine, ensures both sides of the revenue share needs – not just billing and invoicing, but the payment side as well – within the same application. And, given the technology employed in the design of our billing solution, a billing cycle of significant volume can be processed in a fraction of the time required for competing solutions.
The franchise model is frequently employed within this particular sector requiring compensation capabilities for partner networks. There are multiple fees within this model that require assessment and settlement between franchisee and franchisor. For example, say, a franchise extends capital and when someone stays at one of a franchise’s hotels, the franchisee receives a portion of the revenue as will the franchiser. A solution must be able to handle a variety of settlement fees associated with revenue share.
RecVue’s revenue management module enable automated application controls through key features, purpose-built in alignment with ASC 606 / IFRS 15 regulations. This enterprise-grade cloud solution meets all compliance, audit controls and security standards to efficiently manage and accurately report revenue.
Accurate revenue recognition, the ability to properly recognize revenue when earned rather than upon payment, is essential because it directly affects the integrity and consistency of a company’s financial reporting.
Learn more about how RecVue’s powerful billing capabilities can be put to use for your specific hospitality needs
RecVue offers the industry’s first suite of Order-to-Cash solutions that are purpose-built to fully automate the complex processes for billing completeness, revenue recognition and channel partner payments in a single solution.