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Benefits of Cloud-Based Revenue Technology
By Liberty Wright
Wednesday, 3rd August 2022
 

You may be wary about adopting a cloud-based solution for your revenue management, but with zero downtime, easy access from anywhere, and the ability to share the same data in real-time across multiple users, cloud-based revenue technology is fast becoming the go-to for innovative hotel brands.

Let’s start at the beginning: a platform is a cloud-based, single version, always-up technology that innovates quickly and often - providing continuous improvements. A platform is extensible. Once you get started you can continually add and evolve.

At Duetto, our revenue strategy platform is currently made up of four main products: GameChanger for rate optimization, ScoreBoard for financial forecasting and reporting, BlockBuster for group business optimization, and our Integration layer, which normalizes data across multiple inbound sources.

A cloud-based revenue solution provides greater agility and scalability than a legacy, on-premise solution.

Here are seven reasons you should consider a cloud-based solution for your revenue management.

Always Current

When you work with a cloud-based partner like Duetto, it means your revenue management stack is always running on the latest version featuring the latest innovations, including the technology supporting the features you use every day. There is no downtime to upgrade. And no additional cost. This means your revenue strategy can lead the market.

Attract Revenue Talent

As GenZ starts to enter the workforce and make their way up their career ladders, this digital native generation will demand to work on the most current technology. They use cloud-based solutions in their personal life and don’t want to have to ‘downgrade’ when they come to work. Offering cloud-based revenue solutions can bolster your talent acquisition strategy.

Operationalize Standards

A cloud-based revenue solution enables hotel companies to operationalize standards across each individual hotel, brand or market. By providing a standard revenue strategy playbook across the company you can ensure a certain level of proficiency at the property level. By providing in-market teams with guidelines, you can empower them to manage by exception, reacting to market anomalies to maximize revenue, while automated settings take care of the rest.

Predict & React to Demand

It may be a while and possibly a bumpy ride before we return to the lead-time we used to see before COVID, but you always want to protect your inventory so that it doesn’t sell at a rate you won’t be proud to report. The key is to be able to strategically and automatically price dates where demand is steady and have early indicators for periods where demand is unusual so you can adjust. Duetto ingests web shopping data direct from your booking engine, which is a great indicator of future booking trends.

Single Source of Truth

Duetto ingests more data sources than any other RMS on the market. Because we are on the cloud, we can provide users with anywhere and anytime access to that data. But first, we normalize that data across various sources and house it in such a way that we can create applications that reach into that data to solve different problems in the market. Because we’re always looking at a single source of truth in our data layer, we have a uniform output throughout any application that we build.

Easily Scale Your Business

With a cloud-based RMS, you no longer need to have all your hotels running on the same PMS. If you acquire a portfolio running on a different PMS, you don’t have to move them to a single PMS. Duetto acts to centralize your data, and our business intelligence allows you to make informed decisions and distribute those decisions back to any number of distribution points seamlessly through integration.

Multiple Integrations

Each of our products is a separate app built on top of an independent integration layer. Because the integration layer is independent, it becomes an API for each of our products that allows us to build new features and products quickly. Combined with our cloud-based architecture, this means we can innovate fast on new concepts.

This open API structure also enables us to integrate seamlessly with multiple tech partners. We already integrate with more than 85 other solutions, including PMS, CRS, upselling tools, rate shoppers, and more.

We can manage inputs from multiple systems and allow you to price back into those systems and still do roll-up reporting across your portfolio within minutes of data coming in across all those different systems.

Many big chains want to recognize brand standard pricing, including loyalty pricing, to meet their stated guarantees. A cloud-based RMS enables you to execute and control a brand strategy for a set of hotels from a single touchpoint.

The Duetto revenue strategy platform includes GameChanger for pricing, ScoreBoard for intelligent reporting, and BlockBuster for contracted-business optimization. We can roll data up across properties to provide a portfolio view, enabling you to create a strategy at the company level, and push it down to individual properties in real-time, which increases both efficiency and standardization policies for your brands and your company.

Discover how Duetto’s cloud-based revenue management system could help your hotel company drive profit and increase revenue efficiencies. Get in touch today: www.duettocloud.com/contact

Liberty Wright, Vice President, Enterprise Projects, Duetto

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