Onyx CenterSource, a global leader in B2B payments and business intelligence for the hospitality industry, has just revealed its latest breakthrough- the OnyxInsights platform. Designed to empower hotels and travel agencies with advanced analytics and actionable insights, this platform promises to optimize operations, enhance revenue streams, and streamline decision-making processes.
What’s in It for the Hospitality Industry?
The OnyxInsights platform combines stay and booking data into comprehensive, interactive dashboards. These tools allow businesses to track commission payment processes, increase funded transactions, and benchmark daily rates against industry standards.
Scott Gutz, CEO of Onyx CenterSource, highlighted the platform’s potential:
“Hospitality professionals face unprecedented challenges, from intense competition to inefficiencies. With OnyxInsights, we’re delivering the tools needed to make smarter decisions, boost client performance, and drive long-term success.”
Key features include:
- Data Quality Diagnostics: Identify and fix weak spots in payment and analytics workflows.
- ADR Benchmarking: Compare average daily rates against market trends.
- Market Share Insights: Measure influence and uncover growth opportunities.
- Future Demand Forecasting: Stay ahead of market changes.
Additionally, hotels benefit from funding analysis that tracks payment lifecycle performance, while travel agencies gain clearer visibility into pending commissions with potential revenue analysis.
Early Results in North America
Initial feedback from North America in early 2024 is promising. OnyxInsights has reduced payment cycles by seven days, boosted funded transactions by 3%, and increased commissionable Average Daily Rates (cADR) by $8 per property.
The platform also offers quarterly personalized insights from Onyx’s business data specialists, providing actionable recommendations to refine strategies and strengthen financial outcomes.
With the hospitality industry’s growing reliance on data-driven solutions, OnyxInsights could be a crucial tool for decision-makers like VPs, CEOs, and Directors. Its capacity to integrate real-time data with advanced analytics positions it as a crucial resource for overcoming operational blockages and driving growth.
Ready to streamline your hospitality payments and boost your operations? Follow YourTechCFO for more innovative insights!