Consolidated Debtors & Financial Reporting
Material Purchase & Consumption MIS
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Corporate Prol'IFIC is a suite of computer software for use by multi-unit and multi-location hospitality chains. Currently, it includes software for Debtors Consolidation, Centralized Financial Reporting, Purchase Consolidation, Consolidated Consumption Analysis and Chain wide Stocks Analysis.
Corporate Prol'IFICdelivers tangible benefits. It improves credit control across the chain. It helps analyze purchase prices across hotels. It aids in monitoring cost on consumption of materials. It can be used to monitor and dispose off slow moving stocks at any hotel . Monthly financial reports can be prepared for review by corporate mangers … quickly, accurately and with minimal effort.
Prologic First can adapt Corporate Prol'IFIC to the exact needs of a hotel chain … quickly and affordably.
DEBTORS CONSOLIDATION It is important for hotel chains to get a consolidated view of their Debtors across hotel units. The same Debtor may owe payments to more than one hotel unit. A consolidated view provides a better assessment of the hotel chain's exposure.
The Debtors module of Corporate Prol'IFIC is a 'web' based application that allows such consolidation to provide valuable consolidated information-
- Ageing of Debtors across the chain by class / group of Debtors and breakdown per hotel unit.
- Ageing summary per Debtor account within a class / group of accounts and optional breakdown per unit.
- Outstanding Debit transactions per account and breakdown of the transactions per hotel unit.
CENTRALIZED FINANCIAL REPORTING
At the end of each financial period, each unit needs a few days to prepare month end reports. In the typical hotel chain, these reports are received from the units and re-entered into a computer system for standardized and consolidated reporting. This process is laborious, time consuming and prone to errors. The result is delays in financial reporting to the management.
Corporate Prol'IFIC offers an alternative. It can receive and electronically import periodic Trial Balances from the Units into one consolidated database. Once imported, the data can be used to prepare periodic financial reports per unit, per group of units or consolidation of all units. It can also prepare comparative reports for groups of hotels within the chain that are considered to be a peer set.
The benefits are faster reporting, standardization of report presentation, accurate consolidation and flexible views.