Urgo Hotels & Resorts Installs Targetvue for Standardized Budget Across 40 Properties

  • Aptech Computer Systems, Inc.
  • 12.05.18
Aptech Computer Systems announced that Urgo Hotels & Resorts implemented the Targetvue Budgeting and Forecasting system to standardize budget control processes throughout its portfolio.

Urgo provides management for international brands including Marriott and Hilton as well as independent properties across major markets in the U.S., Canada and the Caribbean. Aptech is a leading provider of hospitality business intelligence, budgeting and forecasting, and enterprise hotel accounting software systems. 
 
“Urgo wanted better control of its budget processes. Targetvue gives us that control,” said Jim Bowne, VP/corporate controller, at Urgo Hotels & Resorts. “Targetvue provides us one version of the budget. Each property can make its budget updates and we have a workbook that reflects each property’s daily updates. We review and accept the changes at the corporate office, lock the budget, and send to ownership for approval. Targetvue gives Urgo one platform with one budget, not multiple spreadsheet variations.”
 
“Targetvue provides an automated forecasting platform that builds on daily updated performance data from property operations. It is a continuous ‘pulse meter’ that compares actual against plan,” said Jill Wilder, Aptech's vice president. “This ‘living budget’ gives operators the ability to plan day by day for the greatest profitability.” 
 
Urgo also installed Aptech’s PVNG Enterprise Hotel Accounting software. “We overhauled our entire financial reporting platform” said Bowne. “Targetvue lets us automatically transfer numbers to our GL so we no longer have to do this manually. This saves us time and eliminates the rekeying of data, which keeps our operation more accurate.”
 
Urgo Hotels & Resorts created a custom chart of accounts to incorporate their multiple entities. “Targetvue made our custom chart work,” said Bowne. “Aptech made modifications to suit Urgo’s operations. The nice thing about Targetvue is that you can refine processes and make changes as the process/company evolves. Our budget process is driven at the property level. The general manager and the team oversees the initial development of the budget. Our corporate team reviews and provides guidance for the property’s data and goals.” 
 
Targetvue went live at Urgo in 4Q 2018. “Many of our entities need data fast and Targetvue helps us stay ahead of the curve to get numbers we need to react timely to changes in operations,” said Bowne. “Aptech is customer service oriented. They showed us how to use Targetvue’s budgeting system. We expect to implement Targetvue’s forecasting capabilities in the near future.” 

Aptech Computer Systems, Inc., based in Pittsburgh, Penn., is a provider of fully integrated enterprise accounting, business intelligence and planning ecosystem to the hospitality industry. All of its clients are companies like yours, which own or manage hotels. Its solutions help customers at both the corporate and property levels understand their financial and operational data for faster goal achievement. 


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