ProfitSword

ProfitSword

4.5 / 5 13 reviews

Who Uses This Software?

The hospitality industry and any other industry that requires daily management of a financial statement and other operational reporting for multiple units is best suited for the ProfitSword products.


Average Ratings

13 Reviews
  • 4.5 / 5
    Overall
  • 4 / 5
    Ease of Use
  • 4.5 / 5
    Customer Service

Product Details

  • Deployment
    Cloud, SaaS, Web
  • Training
    Documentation
    Webinars
    Live Online
    In Person
  • Support
    Online
    Business Hours

Vendor Details

  • ProfitSword
  • www.profitsword.com/
  • Founded 2001
  • United States

About ProfitSword

State of the art Reporting and BI solution for the hospitality industry.


ProfitSword Features

  • Ad hoc Analysis
  • Ad hoc Query
  • Ad Hoc Reports
  • Benchmarking
  • Budgeting & Forecasting
  • Dashboard
  • Data Analysis
  • Data Visualization
  • Key Performance Indicators
  • OLAP
  • Performance Metrics
  • Predictive Analytics
  • Profitability Analysis
  • Strategic Planning
  • Trend / Problem Indicators
  • Ad Hoc Reports
  • Collaboration
  • Dashboard Creation
  • Data Source Connectors
  • Data Visualization
  • Drag & Drop
  • Drill Down
  • Financial Reports
  • Marketing Reports
  • OLAP
  • Projections
  • Sales Reports
  • Scheduled / Automated Reports

ProfitSword Reviews Recently Reviewed!

We are still in Implementation Phase..

Nov 17, 2017
4/5
Overall
3 / 5
Ease of Use
4 / 5
Features & Functionality
4 / 5
Customer Support
4 / 5
Value for Money

Pros: It will be able to give the hotel staff all the information they will need to make good decisions. It has lots of very valuable information kept in one place once all has been established.

Cons: There is lots of setup and mapping to get the program to work the way it is designed. Lots of what is called mapping.

I use ProfitSword mainly for uploading actuals from and importing forecasts into M3.

Sep 13, 2017
4/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
4 / 5
Customer Support
4 / 5
Value for Money

Pros: The function I Iike most about ProfitSword is the ability to drilldown on the screen and have the ability to select numerous comparisons whether it's by amount, statistics or different periods.

Cons: When exporting full year report to excel, it comes up as an HTML or Webpage page instead of being exported to an Excel format right away. I have to do a file save as and change the type to Excel format which is an added step.

Vendor Response

by ProfitSword on September 14, 2017

Ariel, Thanks so much for your review and feedback. It's great to hear that you are enjoying the use of ProfitSage. The new user interface does provide you some new options for opening up reports such as the full year report in other operating environments like excel which might be helpful to you. We love to hear your ideas and feedback. Please send in any ideas directly to our support team. If there is anything we can do to help, please let us know. Thanks, Paul

ProfitSword gives me the information I need in a concise, yet powerful, format.

Sep 11, 2017
5/5
Overall
4 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
Likely
Extremely
Likely

Pros: ProfitSword is tailored for our industry and business, and it is utilized by all levels of our organization. From the CFO to Ops to Sales to Revenue Management, we all rely on ProfitSword to analyze the data that helps us make sound business decisions. The team at ProfitSword is ultra-responsive and they "get" what we are trying to do when we discuss the functionality we need out of ProfitSword. Business critical solution from a company that gets it.

Cons: ProfitSword is fairly easy to use, however some functions could be more intuitive or quicker to access. These issues have been addressed in the new UI.

Vendor Response

by ProfitSword on September 12, 2017

Jason, As always we truly appreciate your feedback, insight, and participation with our advisory council to help us improve our products and understand the immediate and future needs of the industry. If there is anything we can do to continue to help OTO Development be one of the best hotel management companies please let us know. We are thrilled to be considered a trusted partner with OTO Development. Paul

I am a hotel accountant and use this software to analyze our data.

Sep 11, 2017
5/5
Overall
5 / 5
Ease of Use
3 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 7.0/10 Not
Likely
Extremely
Likely

Pros: Everything is conveniently in 1 place, this makes it very easy to analyze our entire portfolio in one glance.

Cons: I never received training on this software so I think there are many functions that I could use better.

Overall: We use this software in our AP process, to review the P/L with the budget and to pull data from our POS.

Vendor Response

by ProfitSword on September 12, 2017

Donya, Thank you for your review. We are so glad that you are able to use the system to see and manage your data in a single platform. You are absolutely correct that the system is quite robust and does have many features that you could take advantage of. ProfitSage does offer a knowledgebase with articles and videos that might help you learn more about the parts system that you want to learn more about. You should be able to access the knowledgebase through the help menu. You can also request training on the system through your corporate office. They are able to communicate your needs to us directly and our training team will make sure you get the information you need to take full advantage of the system. Thanks again and please let us know how we can help you be successful. Paul

ProfitSage offers a great package that brings data from multiple sources together in one place.

Aug 31, 2017
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money

Pros: Actual, forecast, and budget data is fully integrated and together in one place. The flexibility to change data sets for comparison in reports is excellent. It's great to be able to see the same screen at the corporate office that staff is viewing at an individual hotel. That makes trouble shooting and explaining things much easier.

Cons: ProfitSage gets very slow for our users from time to time. ProfitSword has made some changes and I believe part of the cause is related to our company's Internet access. Also, when many users are on during the mid part of the day it does slow down. There have been a few occasions where a daily PMS import has fully or partially doubled. It is correctable fairly quickly, but extremely confusing and upsetting to property level users when it does occur.

Vendor Response

by ProfitSword on September 01, 2017

Dan, Thank you very much for your review. We appreciate all your comments and feedback. We are working on optimizing your systems performance and will continue to work with you to make sure the user experience for you and your team is outstanding. Please continue to let us know how we can best help you be successful. Thanks, Paul

ProfitSage will be Great when complete

Aug 30, 2017
4/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
4 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 7.0/10 Not
Likely
Extremely
Likely

Pros: I like the Daily Report Module. We are in process of having this setup. I see lots of possibilities going forward. Lots of Bells and Whistles.

Cons: We are implementing this for 12 Entities to Start. Not real happy with the AP Module. It will improve. We can see duplicate invoices or process credits memo without a problem.
Also you need someone on the property side to help with implementation. It is a lot of work.

Overall: It will be nice to see how the hotels are trending and after setup is complete Budgeting and Forecasting.

Vendor Response

by ProfitSword on August 30, 2017

Jene, Thank you very much for your comments and for sharing your experiences with the implementation and the product. We are excited for Inner Circle to have the product completely set up. We do strive to get the whole team at Inner Circle involved so everyone fully understands the system and takes ownership of it. In the long run Inner Circle will have a very powerful tool with well trained staff. I will make sure the implementation team is helping you with the right resources to make the set up as easy as possible. Please let us know directly is we can help with anything specific. Paul

Great experience but more room for improvement

Aug 29, 2017
4/5
Overall
5 / 5
Ease of Use
2 / 5
Features & Functionality
4 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
Likely
Extremely
Likely

Pros: Ease of accessing the information. Since the software is online I enjoy being able to work from any location that has internet access.

Cons: Downloading the information should include formulas in the exported file rather than the current format where all financials are hardcoded. There should be a summary page for each property which allows for the input of property information (eg. acquired date, renovation date, renovation completed date, opening date, first full month of operations, etc). The method in which the software updates financials can be glitchy requiring the duplication of efforts and double checking the results.

Overall: Accessing the financials from a website in comparison to an accounting system is much easier and requires less time due to the pre-developed reports.

Vendor Response

by ProfitSword on August 29, 2017

Luke, Thank you very much for your feedback. We appreciate that our software has made things easier for you. We can certainly create a summary page for you for each property in the ProfitPlan application, and address your other downloading and importing concerns. Please reach out directly and we will provide some solutions. Paul

Valuable tool that is used across all disciplines of our organization.

Aug 29, 2017
4/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
Likely
Extremely
Likely

Pros: Reporting plus interfaces with other systems within the hotel operation. ProfitSword staff members are always great to work with!

Cons: Lacking on the revenue management side. Too much data entry and not enough built in logic based on booking patterns to help automatically populate daily numbers.

Vendor Response

by ProfitSword on August 29, 2017

Paul, We are grateful for your feedback and appreciate your suggestions. You have been a great partner for us. You are always providing ways for us to improve. We have a few methods of integrating with revenue management tools or importing data from revenue management to improve data flow and reduce manual entry. Open up a conversation about it and let's discuss some solutions that would work. Paul

Collaborative and Outstanding

Aug 29, 2017
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
Likely
Extremely
Likely

Pros: This program automates most of what we need to be completed and provides a centralized place to translate, review and make changes system wide for my entire portfolio. I also like the ability to export into excel. Along with import data from the accounting system, PMS and timeclock system

Cons: There are not many cons other than the color... But that is just reflective of my opinion. However, regardless of the challenges we may have encountered, Profitsword company always communicates, listens and educates us on how we can accomplish what we need to do

Overall: Automated dailies, synchronized forecasting and centralized reporting for my entire company

Vendor Response

by ProfitSword on August 29, 2017

Paul, Thank you very much for your comments and response. We appreciate that you are receiving a he benefit from using our products across your portfolio. Our new User Interface addresses the color concerns you might have. Let us know and we will give you an overview of it if you haven't seen it yet. As always, just let us know what you need and our team will help make sure you have an answer or solution. Paul

System has a lot of limitations and not as efficient that we expect it to be but provides the basic

Aug 29, 2017
3/5
Overall
3 / 5
Ease of Use
2 / 5
Features & Functionality
4 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 6.0/10 Not
Likely
Extremely
Likely

Pros: It provides the basic reports that we need and reduced some of our manual work. It interfaces with our PMS system and able to utilize it for our forecasting and budgeting process.

Cons: System is slow and has to go back and forth the system to access files. I wish we can have more options in the drivers for forecasting and budgeting.

Overall: Reduced our manual work and able to utilize in forecasting and budgeting process.

Vendor Response

by ProfitSword on August 30, 2017

Lucila, Thank you very much for your feedback and response. It is greatly appreciated. System speed is absolutely something we can address and fix for you. We would also love to hear your ideas on what we can do to help meet your expectations of efficiency. We strive to help our customers be better at what they already do well so hearing your specific needs can help us ensure you are getting exactly what you need. Please reach out directly anytime. I will have someone touch base as well to make sure the system is performing as expected. Paul

Great resource

Aug 29, 2017
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
3 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
Likely
Extremely
Likely

Pros: I like the real time information that is available. The direct feed from all the other systems make managing the hotels easier.

Cons: The income journal feed from Marriott to Profit Sword is a little more difficult than other brands.

Vendor Response

by ProfitSword on August 29, 2017

Tony, Thanks for your feedback and comments. We are so glad you are taking advantage of the amount of data that is able to be gathered through ProfitSage. Please let us know what specifically is causing difficulty with the Marriott data. We might already have a solution for you. Thanks, Paul

Have about 50-60 hotels on it and it makes the whole process very efficient.

Aug 29, 2017
5/5
Overall
3 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: Once you set it up, the whole process is basically on auto-pilot. Allowing users to focus on bigger issues.

Customer Service is fantastic! The best I've seen of any company I deal with. Any questions or issues are responded to quickly.

Cons: The mapping process is somewhat time consuming and could be improved to make it easier. But it's really not that big of an issue.

Vendor Response

by ProfitSword on August 29, 2017

Aaron, Thank you very much for your feedback. It is great to hear that you have found some wonderful efficiencies to put some of your processes on auto pilot at Highgate Hotels. Let us know if you have any ideas on how to improve the mapping of data to your G/L. We would love to hear your ideas. Paul

I have had a pleasure working with ProfitSword and this has been a great addition.

Aug 29, 2017
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support

Pros: The pros of profitsword is the accessibility across the portfolio and the up to date information. This has really decreased errors and have allowed for us to forecast more accurately. It is amazing having so much information at your fingertips.

Cons: The system is very vast and there are multiple ways to view information, however PS team is there to assist with any questions or concerns immediately.

Vendor Response

by ProfitSword on August 29, 2017

Isabel, Thank you for your feedback. We are so glad you have recognized improvements with your forecasting and data accuracy at Noble House. We are always here to help. Paul