SYSOTEL, a provider of specialised software and technological solutions to the hotel industry, recently partnered with ByteIQ Analytics, a data innovation firm that harnesses the power of data analytics to find business opportunities.
This strategic alliance has bolstered SYSOTEL’s core product, SYSIRMS, an intelligent revenue management system powered by artificial intelligence, by leveraging the power of data science to assist hospitality partners in accelerating their operations.
SYSIRMS solves the current needs of the hotel industry by boosting productivity and expediting company recovery through the use of comprehensive AI/ML technology that does not require human intervention. Players in the hospitality market can use SYSIRMS to maximise revenue, offer dynamic pricing, monitor sales procedures, and distribute inventory across all sellable channels in order to increase profit margins.
It enables hotels to gain a firm grasp on and control over revenue management; a vital aspect in fine-tuning pricing, controlling inventory, and segmenting customers in order to reduce or eliminate marketing expenses. Additionally, hoteliers can leverage the platform to offer contactless guest management through the usage of cutting-edge gadgets.
SYSOTEL’s CEO, Raj Sahu, stated, “As a technology enabler focused on the hospitality sector, our partnership with the like-minded, creative, and inventive team at ByteIQ Analytics has enabled us to leverage our experience and provide the best solutions targeted to our customers’ needs. We’ve blended machine learning and expert human input to enable our AI system to address a range of hospitality sector demands, from market research and reputation management to competitive pricing analyses.
The hospitality industry is rapidly digitising in response to new challenges and increasing market needs, and we at SYSOTEL are leveraging our best-in-class technology solutions and platforms to position it as the one-stop shop for hospitality technology.”
In the hospitality industry, businesses must optimise their resource management to ensure optimal revenue retention across their locations. Predictive analytics, which utilises previous and future data, clever algorithms, and market variables, enables businesses to make data-driven decisions.
Through data analytics, hotels may gain a better understanding of their market segment and a 360-degree view of their clients, which will ultimately help them create memorable experiences for their guests. Additionally, firms can use data integration to detect risks, competitors, forecast the microenvironment, and learn how to stay ahead of the curve.
It’s similarly reassuring for hoteliers to have data that enables them to reinvent their products, services, and offerings in order to prioritise the proper consumer segment. Businesses must also adopt a consistent data governance strategy to ensure long-term customer trust and recognition in order to run a successful and high-quality data integration.
Although they are in their infancy, SYSOTEL’s goal is to add 1000 Indian hotels by year’s end and to grow the income of its 3000+ hotels. ByteIQ Analytics, on the other hand, has effectively established itself as a data innovation partner for a number of corporations, government agencies, and educational institutions, both in India and abroad.
Sabitra Panda, co-founder and chief data scientist at ByteIQ Analytics, has joined the advisory board of SYSOTEL and will continue to serve as a continual guidance for the development, deployment, and fine-tuning of SYSIRMS.
He is a graduate of IIM Indore and the National Institute of Technology, Rourkela. He has extensive experience in the field of analytics and data science, having worked for over 15 years at some of the most prestigious brands in India and globally.
He was crucial in establishing the company’s initial analytics division in its early years of operation. Lenskart.com is one of India’s fastest growing eyewear companies (One of the earliest unicorns from India now).
SYSOTEL is a start-up endeavour that is a part of Start-Up India. SYSOTEL, which was launched this year, aims to assist the beleaguered hotel business [hit by the ongoing epidemic] in increasing production and expediting its recovery. The technology firm produces software using a methodical and algometric process to enable high-intensity performance versus industry and customer requirements; assisting them in scaling up while maintaining their core offerings.
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