November 2023 Product Updates

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 Thynk here!

Inquiries

One of the biggest changes in the November ‘23 release is an update to the process of creating and managing inquiries. In Thynk, Inquiries are similar to leads. When you only receive basic information from a potential customer, inquiries allow you to capture and track the potential business. These inquiries can be easily converted into bookings at any property once qualified. Learn more about Inquiries here.

Inquiry Guest Rooms, Events, Products & Business Segments 

One of the main differences between inquiries and bookings is that bookings are always specific to a single property, while inquiries are not. Prior to this release, this difference created limitations on inquiries as products, guest rooms, events, and business segments are managed at the property level and therefore couldn’t be added to inquiries. With this release, these records can be added at the inquiry level, enhancing efficiency and flexibility for all users going forward.
  1. ‘Inquiry Events’ & ‘Inquiry Guest Rooms’ are now available. Once an inquiry is converted, this information automatically converts into Events & Guest Rooms on the booking Learn more about Inquiry Events and Guest Rooms here.

  2. We have introduced ‘Corporate Products’. Admins can now manage a catalog of products that are available on inquiries and automatically convert to booking products. Learn more about Corporate Products here.

  3. A new field called 'Corporate Business Segment' has also been introduced on the inquiry to allow tracking business segments at the above-property level. Learn more about Corporate Business Segments here.

Inquiry Conversion

  1. We're excited to announce the newly improved process for converting Inquiries to Bookings. For above-property sales teams, this will greatly reduce the amount of time it takes to send inquiries to the appropriate properties. The conversion flow automatically populates inquiry details, filters for properties that match the assigned criteria, and swiftly routes RFPs to suitable properties. Learn more about converting an inquiry here.

Inquiry Layout

  1. With this release, there is a new standard layout for creating inquiries that includes a required field for Inquiry Name.
    1. Once converted the Inquiry name will be reflected as the Booking name.
    2. 'From Date' is now 'Arrival Date' and 'To Date' is now 'Departure Date'
    3. During creation you can add inquiry source, Business Segment and a Sales Program if applicable. Coming soon this field will convert to booking source.
    4. If you know which properties the inquiry should be sent to during creation, you can select properties for quick conversion to save time.
    5. Read more about how to create a new inquiry here.

  2. When editing an inquiry, you’ll see fields for region, country, city, total room count, star rating, room count, room size, and property attributes. These are fields that can be used to specify property criteria and assist in finding the best fit properties within your portfolio. Read more about how to edit an inquiry here and how to convert an inquiry here.

  3. To better capture details in the initial inquiry from customers, three budget fields are now available. Inquiries can have an F&B Budget, a Guest Rooms Budget and a Total Budget.

  4. If you have custom fields that you would like to include on your layouts and within the inquiry to booking conversion process, you can work with your Thynk support team to have the custom fields added and mapped accordingly.


Bookings

Bookings offer comprehensive details such as account, contacts, guest rooms blocked, packages and more. Streamline your Booking process effortlessly with these valuable additions.

Room Block Manager

You can use the 'Room Block Manager' feature to enter the room block for your bookings by room type, rate type and occupancy type. It is a good visual method of adding and adjusting your room blocks.

  1. A “Show Available Rooms” toggle has been added to the Room Block Manager (and Check Availability). Read more about the changes here. As an admin, you can determine whether your property’s default view hides or shows available rooms.
    1. This will provide your sales team with a better understanding of the availability for new and in-progress bookings. However, it is important to ensure that your team is informed about these new values. Read more about the changes to Check Availability here.
      1. If hidden, users will see: Total Booked / (Total Rooms - Out of Order) and Occupancy %
        Ex. 40/100    40%
      2. If available rooms are shown, users will also see total available, like this:
        Ex. 60   40/100    40%

  2. For global organizations, we now offer a seamless way to toggle between your Corporate Currency and Booking Currency within the Room Block Manager. Now, both your corporate team and sales team can effortlessly switch between currencies when reviewing the Room Block Manager.

  3. ADR is also now displayed on the Room Block Manager, under ‘Total Rate.’


Booking Changes

  1. In September ‘23, Average Daily Rate (ADR) was added to Bookings. However, this calculation was looking at ADR only as a price including tax. Now, ADR will be calculated including tax only if your property's default price setting is inclusive of tax. Otherwise, ADR will show an average rate exclusive of tax.

  2. Previously when users cloned a booking where individual pickup was in place, this was also applied to new booking. Now, when cloning a booking you can manage Individual Pickup.

  3. The multi-delete flow for Booking Events has been updated to include deleting linked booking products. Read more about the Multi-Delete functionality here.

  4. In September ‘23, we stopped updating guest rooms when booking guest count changed. However, any packages, products or events whose guest count matched the previous booking count were still updated. While this is still the default behavior, it can now be disabled. Please contact Thynk support if you’d like this change applied.

  5. In September ‘23, we added the Rooming List Due date to the Booking and added a field for admins to set the standard number of days before arrival on each property. With this release, Rooming List Due Date is now shown in the standard Booking layout in the Rooming List tab.


Booking Events & Function Spaces

Check out the latest enhancements on Booking Events & Function Spaces designed to streamline processes, improve logic and better manage function space tracking.

  1. A new field called 'Requested Function Space' is now available which allows users to track the space requested by the client. It is automatically set to the first assigned or attempted function space for an event, but can be manually changed. Read more about ‘Requested Function Spaces' here.

  2. For each non-shareable function space, admins have the ability to define both 'Total Capacity' and Setup Specific 'Capacity.’ If either are blank, the capacity will be unlimited. Read more about adding the setup total and max capacity here.

  3. Previously, all overbooking was disabled after an event was confirmed in a function space. This resulted in the error message “An event has been confirmed and overbooking is not allowed.” This lock on overbooking can now be turned off property by property so that if your property allows it, you may continue overbooking into a function space even after there is a confirmed event.

  1. Coming within the next month admins now have the capability to add default setup and breakdown durations to function spaces. The fields are configured in minutes, allowing you to specify the precise duration needed.
    1. While admins define the default setup and breakdown durations, users have the flexibility to override them when creating an event. This enables users to adjust the setup and breakdown durations based on their specific requirements, whether they anticipate a need for more or less time. Read more about setup and breakdown durations here.

Function Diary

Explore the recent update on Function Diary, aimed at offering a more polished and visually appealing user experience.
  1. We understand that once properties are inactive, it can be distracting to continue seeing them in the function diary. Now the function diary automatically filters out inactive properties to show you only the most relevant information.

  2. With the introduction of setup and breakdown times on booking events, the function diary now uses the setup start time and breakdown end time fields as event start and end times. Read more about setup and breakdown times here.


Individual Contributions
This feature helps allocate individual contributions for various expense categories like Food and Beverage, Events, Rooms and more. Your property admin is able to create as many expense categories as desired for individual contributions. See below our latest updates on this new feature:
  1. Previously, users could only assign a single individual contribution amount per guest. With this update, the Individual Contribution feature has been enhanced, the capability has been expanded to allow users to establish up to three tiers of individual contributions for each Contribution Type within a booking. This update will not affect any past or current bookings; it will only be available for future bookings. Read more about individual contributions here.


Accounts and Contacts

Profiles for accounts and contacts are rich with details about your clients and agencies. Within these profiles, you can easily monitor contact information, associated bookings, and additional information. Here's the latest update that enables you to include more comprehensive details in the contact profiles:
  1. After hearing from many of you that a field ‘Contact Role’ would be beneficial for your Contacts. We’re happy to say that this field is part of the standard package. There is a default list of contact roles, however it can be customized accordingly. Read more about creating contacts here.


Packages & Products

Packages provide you the ability to bundle services together to deliver unique and personalized value to your customers. Products are created to be able to add items to your Bookings, Events, Packages and more. Here are some of the updates we’ve made for Packages & Products:
  1. The ability to change single-day packages to multi-days packages (or vice versa) has been introduced. Previously, any time a package was cloned, admins were unable to switch the package from single to multi-day and vice versa. Now that this is possible, you can build and adjust packages more efficiently. Read more about multi-day packages here.



Rate Products

  1. In this update, admins can now add percentage-based rate products into their pricing structures, for products billed on a daily basis. This feature proves useful for items like a city tax set at 5%.

  2. Additionally, a new 'Max Amount' field has been introduced, allowing users to set a cap on the percentage. Read more about percentage-based rate products here.


BEO

The BEO (Banquet Event Order) is an essential document that highlights important details such as dates, timelines, catering needs, and other pieces of important information. Here are some new updates to help add more details to your BEOs:
  1. We recently introduced BEO notes by day in addition to booking notes that span all days of the BEO.

  2. With this new release, we’ve added 'Dietary requirements' and 'Invoicing details' description fields in the BEO Daily Notes section. If you would like to include these new fields into your BEO or additional documents reach out to our support team to help you configure this accordingly. Read more about these new fields here.

  3. We have relabeled 'Description FS' to 'BEO description'


Integrations

Mews

  1. For customers with a Mews integration, when products are pulled from Mews into Thynk the Accounting Category and VAT Category of the products are now included.

  2. We introduced a new 'Service' field on the package. That means the orders for the booking events and products linked to the package will be sent on this service in Mews.

StayNTouch

  1. Reservations incoming from StayNTouch that are created in Thynk, contain rate code. It can be found directly on the reservation

Reports & Dashboards

Your data is your most valuable asset. We want to bring its value to life for you and make it easier for you to gain powerful insights with our solution. To make this a reality, we have included new and updated operational reports, operational dashboards and analytical dashboards in this latest release.

You can find the latest operational reports in a folder called Thynk Reports on the Reports tab. Here are the details of the latest reports and how you can leverage them:

BEO History Report

  1. This new report allows you to see updates to distributed BEOs so that you can communicate changes to your operations staff.

Updates to Lost Business Report 

  1. The Lost Business Report has been updated to include additional details to help you identify areas of improvement for you, your property and your team.
  2. You will now be able to see and filter by the following fields:
    1. Sales Manager to identify the specific sales person on your team
    2. Date the business was lost to enable you to evaluate for the month or the quarter
    3. Lost Reason to help narrow down the root cause of lost business

Updates to the Daily Transactions Dashboard 

  1. The section in the Daily Transactions Report for ‘Updated Bookings’ has been updated to include the individual that updated the booking  and the date the change was made making it easier for you to follow up with the right team member if necessary.
There are several operational reports that tell a great story when analyzed together. These are assembled in a collection called an operational dashboard and can be found on the Dashboards tab. You can find the new operational dashboards below:

Thynk System Admin Dashboard

  1. The Thynk System Admin dashboard provides key metrics to enable both your and the support team here at Thynk monitor the health of system integrations and system usage across your users. You can see detailed measurements and transaction failures related to bookings, room blocks, reservations and user engagement.
You can find the latest analytical dashboards in a tab called Thynk Dashboards. If you don’t see this tab, reach out to our support team to help you find this amazing feature!


Here are the details of the latest dashboards and how you can leverage them:

The Account Production dashboard

The Account Production dashboard has been enhanced to include new filters and reports to assist you in:
  1. Allocating marketing budget accordingly based on profitable segments by reviewing top accounts and contacts
  2. Prioritizing the time spent with your most profitable customers by cultivating continued loyalty and revenue
  3. Understanding how production is spread across your business segments
  4. Reviewing account hierarchy and how child accounts are contributing to the parent account production
  5. Analyzing production inline on your account page while reviewing a single account

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