Aptech unveils TVNG, its next-generation budgeting and forecasting tool for the hospitality industry

PITTSBURGH, PA – Aptech, a leading provider of scalable accounting, business intelligence, financial planning and management solutions for the hospitality industry, today announced the launch of TVNG, its next-generation budgeting and forecasting solution for hotels.

Designed to empower finance managers and department heads to make more informed decisions, TVNG ultimately enables organizations to achieve their strategic objectives. The solution actively engages budget managers with an intuitive non-Excel interface that walks them step-by-step through the process and allows them to document their reasons for each decision along the way.

Purpose-built for hotels, TVNG provides property finance teams with a complete set of tools, controls, and built-in reports, with the ability to integrate with Excel for custom data crunching. It features flexible budgeting functionality using a guided approach with an interactive budget navigation map tailored to each department, which orients each user to where they are in the process and how they are doing against finance guidelines.

With the integration of actual data from PVNG, blended forecasts are available throughout the year to manage against budgets, identify trends and track the specific data needed to make changes to your plan. TVNG has two forecasting options – at the account level or below the account level–plus, long-term projections can be generated using forecasts to estimate broader trends for strategic planning purposes.

“Ultimately, a hotel organization’s budget needs to be a numerical expression of the strategic plan and that requires engagement, communication, and collaboration,” said Aptech President Jill Wilder. “TVNG offers a full suite of integrated components that on one side, ensures ease-of-use and a flexible budgeting process for department managers, and on the other side, more advanced tools developed specifically for the needs of the finance team.”

TVNG allows user-defined drivers, provides more accurate cost analysis, and adjusts the organization’s bottom line accordingly – for a single property or across a full portfolio from one central location. Drivers are defined by the finance team as a control measure, so management can be assured that the right values are being used consistently across the entire organization.

Self-service reporting through TVNG makes the budgeting process less complicated, so all approved users can run reports at any time to see a view of the data, as well as the rationale behind the data. With over 60 flexible standard reports available out of the box, all reports are configurable and immediately accessible to the finance team, budget manager or anyone who has the correct security privileges. Now, finance teams can build flexible driver-based budgets and forecasts, manage the planning process from a central location, and set goals for every area of their organization.

“TVNG is an incredible new solution for our hotel customers to add to their financial planning toolbox,” continued Wilder. “With our three industry-leading solutions for accounting – (PVNG),  udgeting and forecasting (TVNG), and business intelligence (Execuvue)—hotel companies can better understand their financial data and turn it into actionable insights. Through our close customer relationships, we’re able to continue to develop new solutions like TVNG in answer to the challenges these hotels face and provide the right tools that allow them to access more accurate data for their finance teams.”

The article Aptech unveils TVNG, its next-generation budgeting and forecasting tool for the hospitality industry first appeared in TravelDailyNews International.