Trident – Navision & Microsoft Dynamics AX Partner in India
 
Email    Call us at   
Info@tridentinfo.com    or    +91 11 6940 0449
hrdesk@tridentinfo.com    or    +91 11 6940 0450

Overview

The objective of the Hospitality Assurance was the relevant tests and procedures necessary to obtain an assurance with regard to:

  • Existence of sound inbuilt system of internal controls and checks in each of the activities under review,
  • Adherence to various policies and procedures,
  • Statutory compliances mainly in relation to the functional areas under study,
  • Operations under review are being carried out effectively and organized in such a manner as to promote overall efficiencies and productivity,
  • Assets of the Company are safeguarded and avoided from avoidable losses.

Hospitality Assurance is usually understood as a means to identify and remedy, and perhaps also to prevent, problems that result in financial. The basic objective of the Hospitality Assurance was to provide an additional administrative support to the Management/ Owner to ensure adherence to systems and procedures and for timely detection of lapses, irregularities, so that necessary remedial measures could be taken without any loss of time.

The purpose was to supplement the efforts of the Owner/ Management in carrying out internal check of the transactions and compliance with the laid down guidelines, systems and procedures.

The emphasis is on substantive checking of the key areas and reporting of deficiencies leading to non-recurrence of the same. This system would improve overall functioning and would work as an important tool for cost effectiveness, enhancing profit, thus, upgrading its rating and also to prevent Frauds.

The Scope of work was to cover the following areas for the Hospitality Assurance:
  • Revenue Assurance.
  • Foods and Beverages and income and cost audit.
  • SPA.
  • Boutique.
  • Procurement.
  • Stores.
  • Accounts Payable.
  • Accounts Receivable.
  • Cash and Bank management.
  • Service Contracts.
  • House Keeping.
  • Engineering.
  • Human Resource.
  • Statutory Compliances.
  • Budget vs Actual

Our Hospitality Assurance Compliance Services provide an independent assurance of controls and integrity of information process by automated systems so that you can take any steps. Like:-

  • Revenue loss due to Rate short charged.
  • Revenue loss due to early arrival/ late departure not charged.
  • Revenue loss due to free up-gradation.
  • Revenue loss due to reservation under wrong rate code.
  • Revenue loss due to active keys at zero/less applicable rates.
  • Revenue loss due to cost of Ingredient considered for recipe lower than purchase price of ingredient
  • Revenue loss due to excess full & final payment.
  • Opportunity Loss of interest Income due to surplus/idle funds in payment account.
  • Revenue loss due to actual purchase price was more than contracted price.
  • Same Item purchased at different rates from same/ different vendor.
  • Same day multiple POs issued to same/ different vendor for same item but at different rates
  • Invoices/expenses accounted for in subsequent month(s) (Delay in posting).
  • GAP between date of advance & date of settlement of advance.
  • Credit allowed for more than approved credit limit.
  • Items not issued for consumption since date of last receipt.
  • Revenue vs costing.
  • Allowance due to Service recovery/ Guest denial/ Discount

We carry out Hospitality Assurance Compliance Services for organization by re-computing all relevant charges and income using ACL Analytics “ACL is a leading name in the audit & risk compliances and is being used by 89% of the fortune 500 companies, managing their audit & risk compliances”. This is to ensure that the organization is not losing revenue in any way and customers are not being overcharged or undercharged. We have assisted many organizations plug unnecessary revenue leakages and maintain a steady stream of expected revenue.

Hospitality Assurance Compliance Service from Trident provides an independent assurance of controls and integrity of information processed by automated and non-automated systems so that management can be confident that business is realizing full revenue from the Hotel being rendered by it.

Please get in touch with us to know more how we can help you with our Hospitality Assurance Compliance Service offering. Call on +91 11 6940 0449 or write to us at info@tridentinfo.com