BETHESDA, Maryland—Otelier announced the launch of the next generation of TruePlan, its budgeting and forecasting platform. The redesign will include a new user interface that delivers a modern technology experience. TruePlan now gives hotel portfolio operators the flexibility to build more accurate forecasts at the daily level, apply bulk actions to accelerate workflows, and collaborate with cross-functional teams within a single platform integrated into Otelier’s ecosystem.
With TruePlan, hoteliers can reduce the amount of time spent in “budget season” by 30 percent, on average, by starting with pre-populated data based on historical and hospitality-specific drivers. Collaboration across departments reduces revisions and eliminates any gap periods at the end of the month or year.
“Budgeting and forecasting should be powerful, not painful,” said Russell Meek, senior director of product strategy, Otelier. “We have rebuilt TruePlan based on customer feedback, and the result is a platform that’s not only faster and more scalable but one that meets the real-world needs of today’s hotel finance teams. With TruePlan NextGen, you can go from data to decisions in a fraction of the time.”
Among the improvements in the new release:
- All-New UX: Designed for ease of use and faster onboarding, the updated interface reduces training time and helps teams move more quickly through workflows.
- Bulk Action Tools: Apply changes across hundreds of hotels or budgets with fewer clicks, reducing manual work for finance and operations teams.
- Daily-Level Forecasting Architecture: Build more granular, flexible plans that respond to real market conditions, made for high-volume portfolios and dynamic operating environments.
- Self-Service Onboarding and Setup: Get started without IT involvement and manage a chart of accounts.
- Collaboration Tools: Keep teams aligned with comment threads, automated alerts, and a full change log for transparency and accountability.
- Power BI Integration: Access accounting and planning reports out of the box, enabling insights and informed decisions.
- Pre-Built Financial Drivers: Get up and running with hospitality-specific planning drivers available at launch.
The improved TruePlan is built on Otelier’s centralized integration framework, enabling real-time data flow between tethered solutions for business intelligence, Accounts Payable automation, night audit compliance, and financial reconciliations. This allows hoteliers to build budgets with real-time data from multiple source systems, such as PMS and labor solutions.