Technology Modernization in Hospitality – Part 1: Management Companies
As technology becomes more integrated into our daily lives, companies must continually modernize and evolve their technology and technology-enabled capabilities to deliver high-quality, differentiated services to their customers and employees.
In the realm of hospitality, where technology plays a pivotal role, management companies face unique challenges that demand innovative solutions. Read on to discover how technology modernization can reduce technical debt and restore competitive edge within the hospitality sector.
What challenges do management companies face when it comes to technology operations, modernization and innovation?
Management companies have a series of unique challenges when it comes to technology operations, modernization and innovation including:
- Overseeing Multiple Operations with Distinct Technology Stacks
- Data Consolidation and Time-Consuming Reporting Processes
- Obtaining Stakeholder Buy-In and Funding
What steps can management companies take to accelerate technology modernization?
There are five practical steps management companies can take to jump start their technology modernization.
- Define a clear value case for the technology modernization journey
- Design for the guest, associate and owner experience
- Build a flexible architecture to support multiple stacks and standards
- Turn data and analytics into a compelling owner offer and operational advantage
- Generate excitement and advocacy among associates and owners
In embracing these strategies, management companies can overcome common challenges and launch their technology modernization journey.
How Can A&M Help
A&M’s global, market-leading Travel, Hospitality and Leisure team understands the industry, its influencing trends and business situations that require deep expertise. Drawing from our expertise and insights, we offer tailored services to assist management companies in navigating the complex terrain of technology modernization and debt reduction.
Contact us today to learn more about how A&M can help you take action.
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