SunSystems from FinanSys is a powerful financial management system (FMS) that can help you manage every aspect of your hotel’s financials.
From multi-currency accounting and asset management to reporting and analysis, SunSystems can help you streamline your financial operations, improve your bottom line, and realise your digital transformation goals.
Here are 9 powerful capabilities of SunSystems that can benefit hotels:
1. Dependable financial management for your hotel
Infor SunSystems is a robust and dependable financial management system that has been helping hotels manage their finances for over 40 years.
With SunSystems from FinanSys, you can be confident that your hotel’s financial operations are in good hands.
It boasts a unified set of ledgers that provide you with an instant view of your sales, purchase, and nominal accounts, with up to 35 levels of analysis and 5 currencies per transaction.
You can view all the key information when you need it and across multiple locations.
2. Advanced, role-based reporting
SunSystems allows you to generate insightful real-time reporting with reliable data from all your locations.
This means getting your hands on powerful reports that provide up-to-the-minute insights into your hotel’s financial performance.
This powerful FMS also comes with the ability to create or update reports based on various analysis dimensions such as cost centres, projects, employees, locations, funds, or products.
The reporting tool can send you proactive alerts when certain conditions are met, such as when a transaction exceeds a certain amount or when your hotel inventory levels are low.
This proactive approach can help you make better decisions and take action before problems arise.
3. In-context analytics and business intelligence
With SunSystems, you can quickly and easily access data that is relevant to your specific hotel business needs.
The system’s in-context analytics and business intelligence tools allow you to drill down into data, identify trends, and gain actionable insights that can complement core reporting data for your hotel and help you make better decisions.
It packs the ability to drill back to source transactions, which enables data to be traced back to its original source.
4. International functionality
If your hotel has multiple locations, users with varied languages, or handles multi-currencies, SunSystems’ international functionality can be a lifesaver.
This comes in three different forms:
- Multi-company: SunSystems’ multi-company functionality allows you to maintain an unlimited number of hotels across multiple locations, and manage complex business changes, updates, and international financial requirements.
- Multi-currency: The multi-currency setup supports multiple exchange rates and up to five currencies per transaction, making it easy for you to keep track of your finances across multiple entities.
- Multi-language: The system is available in multiple languages and addresses multiple reporting regimes. It also packs compliance with multiple regulatory and reporting requirements including localised support for regional reporting regulations.
5. Choice of Deployment: in the Cloud or Hosted Locally
FinanSys offers you the choice of deploying SunSystems in the cloud (using FinanSys Cloud) or hosting it locally.
Cloud deployment gives you the flexibility to scale up or down according to your hotel business needs and makes it easy for you to access your data from anywhere, at any time.
Local hosting, on the other hand, gives you more control over your data and localised preference for the system’s security.
Whether you choose SunSystems deployed in the cloud or hosted in your environment of choice, you can access the data you need on the go, complete with comprehensive controls to restrict access to data and functions per user.
6. Enhanced Spend Control Functionality
With SunSystems for Hotels, you can better manage and control your hotel’s spending. The system gives you the ability to define authorisation limits by cost centre or project and track actual versus committed costs.
This helps you keep a close eye on business spend, identify potential areas of overspend, and make informed decisions about where to allocate your resources.
It supports online purchasing, employee expenses with flexible approvals, and reporting dashboards that give you greater control and visibility of spend.
7. Automation of Your Hotel’s Accounting Tasks
SunSystems implemented by FinanSys automates many of the accounting tasks that are typically done manually.
For instance, the system can:
- Import bank statements and automatically reconcile them against your cash book
- Automate depreciation of assets via multiple depreciation methods
- Automate the apportionment of costs and income across accounts and periods via definable rules
- Generate a payment run, and automatically allocate against invoices
- Automatically schedule reports, and trigger reports, based on a set of criteria, e.g. if an account reaches 90 days without payment
- Automate the upload of static data such as currency rates, or account details, from another system
- Upload transactions automatically from another source, including Excel or a front of house system
This reduces the risk of errors and frees up your finance team’s time so they can focus on more strategic, value-added tasks, such as analysing the performance of your hotel.
8. Integration with other hotel-specific and general systems
SunSystems integrates with a wide range of hotel-specific and general business applications, such as:
- Hotel property management systems (PMS)
- Point of sale (POS) systems
- Hotel revenue management software (HRMS)
- Human resources (HR) and payroll systems
- Accounts payable (AP) and accounts receivable (AR) systems
- Banking systems
- Procurement system and more
This allows you to share data across multiple systems and eliminate the need for manual data entry and re-keying of information.
You’ll also be able to import and export both transactional data (e.g. invoices) and static data (e.g. suppliers, customers etc.), automatically transform and translate data into the required format, and even upload Excels for ad-hoc imports.
Most importantly, you get to see all data from across your hotel in a single place in real-time, which saves you time and headaches. A unified view will also present you with insights like never before – say goodbye to siloed data and hello to an improved way of working!
9. Dynamic Budgeting and Forecasting
Do you want to be able to streamline the collection of budgeting, forecasting, and planning data from stakeholders and other operational systems?
With SunSystems from FinanSys, you can.
The system includes a powerful budgeting and forecasting module that allows you to:
- Hold original budgets, revised budgets, forecasts, commitments, KPIs, etc.
- Budget at the same level you record transactional data, e.g. project, employee, cost centre
- Produce a consolidated financial view of your hotel
- Automatically feed in and translate data from other business systems
- Automate the inter-company eliminations process
- Translate data that uses different accounting methods into the same accounting treatment
- Automate currency translations
- Get instant dashboard access to budgets, forecasts and consolidated reporting
- Combine the flexibility of Excel with centralised, reliable data and full data security
SunSystems for Hotels: Conclusion
As you can see, SunSystems is a powerful financial management system that offers a wide range of features and capabilities to help you manage your hotel’s finances effectively.
It’s used by some of the world’s leading hotels, all of which have chosen FinanSys as their SunSytems partner.
Check out how we led the FMS upgrade for one of Barbados’ leading luxury resorts.
If you’re looking for a new financial management system for your hotel, or are considering upgrading your current system, SunSystems from FinanSys is definitely your best bet.
Book a no-obligation requirements call with an expert to see what the system can do for you.