August 2024 Product Updates

August 2024 Product Updates

Below you will find a brief, high-level description of enhancements and new features included in the latest product updates.
We listen to your feedback and you may see something you requested below. Give us more feedback about your experience with Thynk here!

Please be aware in any release, new fields will not yet be configured to your documents. If you would like to include any new fields in your custom documentation, reach out to our support team for guidance.

August 19th 2024 (1.113)

Thynk Analytics

Total Account Production Dashboard

We've made some enhancements to the Total Account Production Dashboard. You can now toggle between Parent and Child companies or agents when reviewing your Top Accounts.

Sales Program Performance Dashboard

We're excited to introduce several updates to the Sales Program Performance Dashboard with this release. Take a look at the new features and improvements:
  • Enhanced Tabulated Data Section: We've added a "before and after" field in the tabulated data to easily distinguish if a booking or a reservation was made prior to or after a particular Sales Program took place. Additionally, we've included an Account field.
  • Hyperlinks: Now you can directly access reservations, bookings, contacts, and accounts through the newly added hyperlinks in the tabulated data.
  • Calculation Scenarios: A new pop-up window details various calculation scenarios, ensuring you have a clear understanding of the calculated potential revenues from your sales programs.
  • New Filters: We've added new filters to allow you to slice and dice your data with more granularity.

Thynk Hospitality 

Account - Type Changes

In a recent update, we enforced a rule that account types cannot be changed, which is crucial for ensuring they are set up correctly. However, we recognize that there may be instances where an account type has been set up incorrectly. To address this, Admins now have the ability to override account type changes. Please communicate this to your team and emphasize the importance of setting up account types correctly from the start.

Booking - Cloning Process Improvement

We have enhanced the Booking Cloning Process at Thynk. Now only the essential fields get cloned over, while leaving out fields that are typically updated or changed in the newly cloned booking. Read which fields don't get cloned here.


August 5th 2024 (1.112)

Thynk Analytics

Updated BoB Dashboard

We're excited to introduce the updated Business on the Books (BOB) Dashboard with this release:Gain comprehensive insights into your business performances and understand your position and progress relative to key indicators with the BOB Dashboard. Quickly and dynamically assess trends, identify risks, and capitalise on business opportunities. Slice and dice your dashboard with various filters to delve deeper into your analysis and uncover hidden trends.

The updated BOB Dashboard includes the following new features:
  1. At-a-Glance BOB Position Review: Compare your current BOB position against both budget and forecast, offering invaluable insights into your performance. Easily compare your BOB position against the same period last year, on a monthly basis and across business segments.
  2. Detailed BOB Analysis: Gain better insights into your Business on the Books by slicing and dicing the BOB per booking stage, segment, rate code, distribution channel, origin of business, and room types.
  3. Delve deeper into your BOB by examining it through key metrics such as length of stay and lead time for both confirmed and cancelled reservations.
  4. Cancellations Tracking: Monitor cancellations alongside your Business on the Books data using our interactive graph to identify valuable market trends.
  5. Seamless Portfolio Review: Access the dashboard effortlessly, whether you're at both property and multi-property levels to conduct a thorough top-line assessment across your portfolio.

Navigate your business landscape effectively and make informed, data-driven decisions with the updated BOB Dashboard.


Thynk Hospitality Cloud

Multi-Property PMS Account Sending

We’re excited to announce a powerful new tool that makes sending PMS accounts to your PMS Database faster and easier than ever! Read more about this here.

What’s New:

  1. Visualize which Properties share a PMS Database: Properties are grouped together by PMS database for streamlined management.
  2. User-Friendly Interface: Easily view which PMS Databases already have the Account and select additional or all to create missing PMS Accounts.
  3. Simplified Workflow: Just click ‘Send to Selected PMS's,’ choose your databases, and hit ‘Send’ to initiate the process.
  4. Automated Account Handling: The system automatically checks, updates, or creates PMS account records based on your selections.

Benefits:
  1. Efficiency: Faster property data management.
  2. Accuracy: Reduces errors with precise data distribution.
  3. Convenience: Clear, organized interface for easy property selection.



Additional Improvements:

  1. Enhanced Error Handling: Based on customer feedback, we’ve revamped our error handling for the 'Create Account' checkbox on PMS Account records. When checked, an Account in Thynk is automatically created (if missing), for PMS Accounts that are pulled in from reservations. 

    Previously, it appeared that an account was created even when the process was not successful. With this update, if any required information is missing, the system will notify the admin, ensuring transparency and reliability.



Property - Define Reference rates

We heard your feedback about the need to define your property's BAR (Best Available Rate) and MAR (Minimum Acceptable Rate) within Thynk. We are excited to announce that a new section with two lookup fields is now available on the Property page. Another benefit of filling out these reference rates at each property is that this will unlock reporting on our updated GRC and At-a-Glance availability views (coming soon) so that as you qualify property availability, you can easily visualize the BAR and MAR rate on a given night.

Key Benefits:
  1. Clarity and Consistency: Easily define and reference your property's BAR and MAR rates, ensuring your team is always aware of these key metrics..

Note that it is not mandatory to fill in these fields, but they are available for your convenience and can greatly enhance rate management and team awareness.



Thynk Contract Sales

Negotiated Rates

Negotiated Rates and Multi-Property Negotiated Rates on Thynk are excellent tools for your sales teams to capture and track Negotiated rates from your accounts. They also facilitate the creation of documentation like contracts and proposals. Additionally, these features help you understand which negotiated rates are still valid and, if any deals were unsuccessful, users can note the reasons why.

We are excited to announce significant updates to both Negotiated Rates and Multi-Property Negotiated Rates. These enhancements aim to streamline workflows, improve user experience, and ensure better management of negotiated rates. Read more about Negotiated rates here.

Note you will remain on your current layout, however if you would like to migrate over to the Thynk standard, please contact Thynk support.

Thynk Managed Page for Negotiated Rates & Multi-Property Negotiated Rates view the new page layouts 
New Fields available:
  1. Multi-Property Negotiated Rate Name & Negotiated Rate Name: Account | Year
    Previously, these names were auto-numbers, making them hard to identify. The new 'Name' field shows the account name and contract year, making it easier for your team to identify each rate. This new name field can be used in list views and reports.

  2. Rate Type: Custom, Fixed, Dynamic (picklist)
    Previously, rate types weren't specified. This new field provides clarity and, depending on the selected rate type, reveals different fields to ensure a smooth workflow.

  3. Signature Date:
    To now have the ability to track this information.

  4. Additional Fields: These fields support more detailed documentation when users are setting up a Negotiated Rate with a custom rate.
    1. Breakfast Included
    2. Min LOS & Max LOS
    3. Fees Waived


Additional fields available on the Multi-Property Negotiated Rate
  1. Start Date & End Date
    Allows for detailed contract information. These dates, along with other standard fields, will auto-populate related negotiated rates, saving valuable time.

  2. Year
    Automatically generated based on the start date of the contract

  3. Received Date
    To now have the ability to track these details.

  4. Commissionable Checkbox, Commission % and Include Cancellation Fees in Commission Checkbox
    We've added them to Multi-Property Negotiated Rates ensures a uniform experience. Values added here will populate related negotiated rates.

Status Updates
Previous Thynk Standard
  1. Multi-Property Negotiated Rates
  2. Negotiated Rates


New Thynk Standard
  1. Multi-Property Negotiated Rates and Negotiated Rates
Once you select ‘Closed’ the following will popup where you can select the close reason. If Close reason is Lost or Refused, an additional picklist becomes available. This is a very similar flow to Bookings once moved to ‘Closed’





Status Relationship Mapping

You now have the ability if desired to map statuses between Multi-Property Negotiated Rates and Negotiated Rates.

  1. Seamless Updates: Changes in Multi-Property Negotiated Rates will automatically update related Negotiated Rates statuses.
  2. Manual Override: You can break the relationship by manually changing the status in the Negotiated Rate record.
  3. Enhanced Efficiency: This functionality simplifies management and improves accuracy across your records.
  4. Consistent Management: Easily maintain consistency across your related Negotiated Rates.



Automatic Rate Plan Population

We're excited to announce that when users enter a Rate Code on the Multi-Property Negotiated Rate (MPNR) level, Thynk automatically searches for a matching active rate plan within the linked property for each related Negotiated Rate.~

This will streamline the process and make it much faster, especially for those managing many properties on their MPNR.

How It Works:
1. Enter a 'Rate Code' on the Multi-Property Negotiated Rate.
2. When Negotiated Rates are created, the system searches for a matching rate code within the linked property.
3. If a match is found, the rate plan is automatically filled in on the Negotiated Rate.

Automatic Contract Activation & Deactivation
A new 'Is Valid' field will be inactive until the Negotiated Rate contract starts. It will activate on the contract start date and automatically deactivate once the contract ends.

Additional updates
When an Account has been selected, Contact will be filtered out accordingly.


To improve clarity, several fields have been relabeled:

On Multi-Property Negotiated Rates:
  1. BAR Discount: Renamed to BAR % Discount
  2. Commission Included: Renamed to Commissionable
  3. LRA/NLRA: Renamed to Last Room Availability
  4. Expected #: Renamed to Expected # of Nights
  5. Neg. Request: Renamed to Requested Rate
  6. Stage: Renamed to Status


On Negotiated Rate:
  1. BAR Discount: Renamed to BAR % Discount
  2. Commission Included: Renamed to Commissionable
  3. LRA/NLRA: Renamed to Last Room Availability with options:
  4. Expected #: Renamed to Expected # of Nights
  5. Revenue Manager: Pulls name from Property object, editable upon creation
  6. Sales Manager: Pre-filled with the person creating the negotiated rate
  7. Neg. Request: Renamed to Requested Rate



Rate Periods

Rate Periods are crucial for customers using fixed Negotiated Rates. They allow admins to set specific timeframes for property rates, enabling efficient documentation and ability to define rate information for a set of standard negotiated rates. This functionality saves significant time by eliminating the need to create custom rates for each Negotiated Rate individually.


What's New:
We are thrilled to introduce our updated Thynk Managed Page (view here) for Rate Periods. This update includes several new fields designed to make creating Rate Periods and Blackout Dates more detailed and relevant.


Key Features:
  1. Type of Record: Choose between Rate Period or Blackout Dates.
  2. Rate Plan: Select an existing rate plan with ease.
  3. Max LOS: Define the Maximum Length of Stay, complementing the already available MinLOS.
  4. Maximum and Minimum # of Room Nights: Specify which types of contracts should receive which rates.
  5. Fees Waived: Add more details to ensure your team has all the necessary information without extra effort.

Note you will remain on your current layout, however if you would like to migrate over to the Thynk Managed Page , please contact Thynk support.


Thynk B2B

Inquiry Improvements

We’re excited to announce enhancements to the Inquiry process with several key updates:

Alternative Dates
We have added Alternative Arrival Date and Alternative Departure Date fields. This feature allows users to capture a single set of alternative booking dates, which is helpful when customers provide multiple potential travel periods, such as "May 1st-5th or May 5th-10th."

Benefits:
  1. Improved Flexibility: Easily capture multiple potential travel dates, catering to customer needs.
  2. Enhanced Accuracy: Defaulting to alternative dates minimizes the risk of missing key booking information.
  3. Streamlined Workflow: Simplifies the inquiry process, allowing for quicker responses and better customer service.

When creating or saving an inquiry, users can now input these alternative dates. If the primary arrival and departure dates are empty during conversion, the system will default to the alternative dates, ensuring accurate tracking of customer preferences.

Inquiry Dates are Optional
To further streamline the inquiry creation process, entering dates on the Inquiry creation and edit, Inquiry Guest Rooms, Events and Products are now optional.

Process when converting an Inquiry to a Booking with no dates:
  1. The inquiry will require arrival and departure dates when attempting to convert
  2. If Inquiry Guest rooms have no dates, on convert they will default to the Booking's arrival and departure dates.
  3. If Inquiry Events or Products have no dates, on convert they will default to the Booking's arrival date if no dates are provided.

Read more about Inquiries here




Inquiry Guest Rooms, Events and Product Dates are Pre-populated
To make the process of adding all details to an Inquiry faster for our users,now these related items to an Inquiry will have the start-end date pre-filled according to the Start-End date of an Inquiry.


Booking Improvements

Expanded Status field update
We’re excited to announce that the Expanded Status field now reflects any renamed status values, ensuring a consistent and personalized experience throughout the booking process.

For example, if your Close Reason Thynk value "Won" was renamed to "Definite," previously the expanded status would display as "Closed-Won” now, the expanded status will display "Closed-Definite” enhancing clarity throughout the booking process.

Important: This is a new field, and the previous expanded status field is no longer in use. This may require you to upgrade any reports that are based off of the previous Expanded status field. If you need assistance with this please contact Thynk support.



Booking Product Improvements

‘No Order’ Checkbox for Booking Products (Mews Customers Only)

What’s New: A "No Order" checkbox is now available on the Booking Product.
Functionality: This feature pulls the related Product's "No Order" value, allowing users to view and adjust as necessary.

Combo Product Enhancements
We’re excited to introduce key enhancements to Combo Products that simplify their management within Bookings. These changes ensure that Combo Products remain inactive until they contain Combo Items.

Default Status and Activation
  1. Combo Products will now default to 'Inactive' until at least one Combo Item is added.
  2. When initially created, a Combo Product will be inactive.
  3. Admins will see a prompt stating, "To activate a Combo Product, Combo Items must be added," guiding them through the activation process.

Automatic Activation and Deactivation
  1. Adding a Combo Item will automatically activate the Combo Product
  2. Removing all Combo Items will deactivate it. This ensures that Combo Products are only included in bookings when they contain valid items.


Additional Mandatory updates

Decimal product quantities
To accommodate requests for better visibility of a Product's quantity in decimal values, we have updated the following:
  1. Combo Items
  2. Booking Product
  3. Booking Combo Item
  4. Booking Package Item Type: Product
  5. Package Item Type: Product



Thynk Venue

Enhanced Relationship Between Booking Events and Booking Products

We heard your feedback on improving and simplifying the relationship between Booking Events and Booking Products. We're happy to announce enhancements to the relationship between Actual and Agreed guest counts, as well as updates to the Impact Timing field on Booking Product. Read our full article here

Guest Count Updates:
  1. Fields Involved: Agreed and Actual guest counts.
  2. Functionality: When either the Agreed or Actual guest count is updated at the Event level, the related Booking Products will update automatically if the values match.
  3. If the Booking Product's Agreed/Actual guests exceed the Event's, the Event will automatically update to reflect the higher count.

Updates to 'Impact Timing' Field on Booking Product
  1. Default Setting: We now allow customers to have this set default to true/false
  2. Behavior updates: when Impact Timing was checked
    1. Booking Product: Only updates start and/or end times of an Event if it falls outside its timeframe.
    2. Event: Only updates start and/or end times of a Booking Product if it falls within its timeframe.

Important Disclaimer this feature is not available for Booking Package Items.


    • Related Articles

    • October 2024 Product Updates

      Below you will find a brief, high-level description of enhancements and new features included in the latest product updates. We listen to your feedback and you may see something you requested below. Give us more feedback about your experience with ...

    • September 2024 Product Updates

      Below you will find a brief, high-level description of enhancements and new features included in the latest product updates. We listen to your feedback and you may see something you requested below. Give us more feedback about your experience with ...

    • November 2023 Product Updates

      Below you will find a brief, high-level description of enhancements and new features included in the latest product updates. We listen to your feedback and you may see something you requested below. Give us more feedback about your experience with ...

    • August 2023 Product Updates

      Accounts & Contacts Accounts are companies with whom you are doing business. They may include agencies. Contacts are people working for these companies and agencies. To help maintain up to date Account information, a new field was added on the ...

    • June 2023 Product Updates

      Bookings Bookings contain details such as the account information, contact for the booking, guest rooms blocked, function rooms, commissions, packages, and more. Here are the latest updates to help you manage your bookings more effectively and ...