With 56 properties and multiple ownership entities, Strand Development Company relies on its corporate business intelligence system to automate the complex data gathering and analysis process that drives property performance reporting.
Strand works for many ownership groups. Some are small private companies, others are publicly traded. Most have different reporting requirements, so Strand needs to provide property data in different ways.
In 2004, Strand implemented the IBM Cognos-based Execuvue® business intelligence (BI) system from Aptech Computer Systems. Strand turned to Aptech to help them collect, analyze, and report property performance to ownership groups. An important feature of Execuvue is its ability to tie to any database or data source. Gathering data with Execuvue is faster and much easier than its earlier processes. Strand combines that information with metrics from STR, accounting, and payroll systems for analysis and flexible daily reports. Strand ties STR data to its financial data and Aptech is working with Marriott and other companies to bring in guest comment data.
Strand’s success and growth are based on delivering solid property results to its ownership groups. Accurate, comprehensive daily reporting is how Strand measures property performance.
Strand also provides automated forecast reporting. Strand used to manually create forecasts for properties; now the GMs have an input sheet, which goes into the Execuvue BI seamlessly for 6-month pro forma. Accurate forecasting helps Strand properties create a better financial future.