{"id":25773,"date":"2024-10-15T09:05:18","date_gmt":"2024-10-15T13:05:18","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=25773"},"modified":"2024-10-15T09:05:20","modified_gmt":"2024-10-15T13:05:20","slug":"how-hospitality-cfos-drive-growth","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/how-hospitality-cfos-drive-growth\/","title":{"rendered":"How hospitality CFOs drive growth"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-us\/blog\/category\/growth-customers\/\" class=\"entry-header__link\">Growth &amp; Customers<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tHow hospitality CFOs drive growth\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div class=\"col col-8 col-lg-4 entry-header__image\">\n\t\t\t<figure class=\"entry-header__thumbnail js-hero-section\">\n\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/10\/BrandShootLDN_Jul2022_Hospitality_0988-1-1440x810.jpg\" class=\"entry-header__thumbnail-image\" alt=\"A man and woman work on a laptop on the counter of their coffee shop.\" fetchpriority=\"high\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/10\/BrandShootLDN_Jul2022_Hospitality_0988-1-1440x810.jpg 1440w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/10\/BrandShootLDN_Jul2022_Hospitality_0988-1-768x432.jpg 768w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/10\/BrandShootLDN_Jul2022_Hospitality_0988-1-684x384.jpg 684w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/10\/BrandShootLDN_Jul2022_Hospitality_0988-1-1536x864.jpg 1536w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/10\/BrandShootLDN_Jul2022_Hospitality_0988-1-2048x1152.jpg 2048w\" sizes=\"(max-width: 1440px) 100vw, 1440px\" \/>\t\t\t<\/figure>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t<\/div>\n\t\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \">Published <time class=\"entry-date published\" datetime=\"2024-10-15T09:05:18-04:00\">October 15, 2024<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"How hospitality CFOs drive growth\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-us\/blog\/how-hospitality-cfos-drive-growth\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__icon social-share-button__icon--share\">\n\t\t\t\t<svg aria-hidden=\"true\" class=\"svg-icon\" focusable=\"false\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"18\" height=\"18\" viewbox=\"0 0 1024 1024\"><path d=\"M768 106.5q-62 0-105.5 44t-43.5 105q0 10 2.5 18.5a268 268 0 0 1 4.5 17.5l-256 128q-21-26-50-41.5t-64-15.5q-62 0-105.5 44t-43.5 105q0 62 43.5 106t105.5 44q35 0 64-16t50-41l256 128q-2 9-4.5 17.5t-2.5 17.5q0 62 43.5 106t105.5 44 105.5-44 43.5-106q0-61-43.5-105t-105.5-44q-35 0-64 15.5t-50 41.5l-256-128q2-9 4.5-17.5t2.5-18.5q0-9-2.5-17.5a268 268 0 0 1-4.5-17.5l256-128q21 25 50 41t64 16q62 0 105.5-44t43.5-106q0-61-43.5-105t-105.5-44m0 64q36 0 60.5 25t24.5 60q0 36-24.5 61t-60.5 25-60.5-25-24.5-61q0-35 24.5-60t60.5-25m-512 256q36 0 60.5 25t24.5 60q0 36-24.5 61t-60.5 25-60.5-25-24.5-61q0-35 24.5-60t60.5-25m512 256q36 0 60.5 25t24.5 60q0 36-24.5 61t-60.5 25-60.5-25-24.5-61q0-35 24.5-60t60.5-25\" \/><\/svg>\t\t\t<\/span>\n\t\t\t<span class=\"social-share-button__icon social-share-button__icon--copy\" hidden>\n\t\t\t\t<svg aria-hidden=\"true\" class=\"svg-icon\" focusable=\"false\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"18\" height=\"18\" viewbox=\"0 0 1024 1024\"><path d=\"M698 85.5q-45 0-88.5 17.5T531 154.5l-430 431q-3 2-4.5 4.5t-3.5 5.5q-1 3-1.5 6t-.5 6q0 4 .5 7t1.5 6 3 5.5a54 54 0 0 0 4 4.5q3 3 5.5 4.5t5.5 2.5q3 2 6 2.5t6 .5 6.5-1 6.5-2 5.5-3a54 54 0 0 0 4.5-4l430-431q51-50 122-50t121 50q51 51 51 122t-51 121l-406 406q-26 27-62.5 27t-63.5-27q-26-26-26-62.5t26-62.5l328-328q3-2 4.5-4.5t3.5-5.5q1-3 1.5-6t.5-6q0-4-.5-7t-1.5-6-3-5.5a54 54 0 0 0-4-4.5q-3-3-5.5-4.5t-5.5-2.5q-3-2-6-2.5t-6-.5-6.5 1-6.5 2-5.5 3a54 54 0 0 0-4.5 4l-328 328q-44 44-44 107.5t44 108.5q45 44 108.5 44t107.5-44l406-407q35-34 52-77 17-44 17-89t-17-89q-17-43-52-78-34-34-77.5-51.5T698 85.5\" \/><\/svg>\t\t\t<\/span>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n\t<\/header>\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-us\/blog\/author\/bill-fuesz\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/08\/BillFueszHeadshot-350x350.jpg\" class=\"entry-author__image\" alt=\"Bill Fuesz\" \/>\t\t\t\t<span class=\"entry-author__name\">Bill Fuesz<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">The hospitality industry is a dynamic and competitive space, constantly evolving to meet the demands of an increasingly sophisticated clientele. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Amidst this flux, strategic planning becomes the bedrock of sustained growth and expansion. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Traditionally, Chief Financial Officers (CFOs) have been viewed as the financial stewards of their organizations. However, their roles have significantly expanded to include strategic leadership. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this article, we&#8217;ll explore how CFOs in the hospitality industry can develop and execute strategic plans to drive business growth and expansion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By leveraging their financial acumen and strategic insight, CFOs can transform from mere financial overseers into key architects of their company\u2019s future.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-here-s-what-we-ll-cover\">Here&#8217;s what we&#8217;ll cover<\/h4>\n\n\n<?xml encoding=\"utf-8\" ?><div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><ul><li><a href=\"#h-the-role-of-cfos-in-strategic-planning\" data-level=\"2\">The role of CFOs in strategic planning<\/a><\/li><li><a href=\"#h-understanding-market-and-industry-trends\" data-level=\"2\">Understanding market and industry trends<\/a><\/li><li><a href=\"#h-developing-strategic-plans\" data-level=\"2\">Developing strategic plans<\/a><\/li><li><a href=\"#h-financial-planning-and-resource-allocation\" data-level=\"2\">Financial planning and resource allocation<\/a><\/li><li><a href=\"#h-execution-of-strategic-plans\" data-level=\"2\">Execution of strategic plans<\/a><\/li><li><a href=\"#h-final-thoughts\" data-level=\"2\">Final thoughts<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-role-of-cfos-in-strategic-planning\">The role of CFOs in strategic planning<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Over the past decade, the role of CFOs has evolved dramatically. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">No longer confined to managing budgets and financial reporting, CFOs are now integral to the strategic planning process. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the hospitality sector, where market conditions can be volatile and competition fierce, the CFO\u2019s ability to provide strategic leadership is crucial. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CFOs bring a unique perspective to the table, combining financial expertise with a deep understanding of market dynamics. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This dual capability enables them to craft strategies that not only ensure financial stability but also position the company for growth and competitive advantage.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-navigating-market-volatility-with-strategic-insight\"><strong>Navigating market volatility with strategic insight<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The hospitality industry is subject to various uncertainties\u2014from economic downturns to shifts in consumer preferences. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CFOs must use their strategic insight to predict these changes and prepare accordingly. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By analyzing financial data and market trends, CFOs can identify potential risks and opportunities, enabling the company to adapt swiftly. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This proactive approach ensures that the company stays resilient in the face of market volatility.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-balancing-financial-stability-and-growth\"><strong>Balancing financial stability and growth<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">One of the CFO\u2019s primary responsibilities is to ensure the company\u2019s financial health.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, achieving this while pursuing aggressive growth strategies can be challenging. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CFOs must strike a balance between maintaining financial stability and investing in initiatives that drive growth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This involves prudent financial planning and resource allocation. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By carefully evaluating investment opportunities and managing risks, CFOs can support sustainable growth without compromising financial stability.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-understanding-market-and-industry-trends\">Understanding market and industry trends<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A thorough understanding of market and industry trends is the foundation of effective strategic planning.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CFOs must stay abreast of changes in customer preferences, technological advancements, and competitive actions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Utilizing data analytics, CFOs can gain insights into market trends and consumer behavior, enabling them to make informed decisions.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-leveraging-data-analytics-for-market-insights\"><strong>Leveraging data analytics for market insights<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Data analytics is a powerful tool that allows CFOs to gain a deeper understanding of market dynamics.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By analyzing occupancy rates, customer feedback, and booking patterns, CFOs can find emerging trends and opportunities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These insights are invaluable in developing strategies that align with market demands.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, if data shows a growing preference for eco-friendly accommodations, CFOs can advocate for investments in sustainable practices and green technologies.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-staying-ahead-of-technological-advancements\"><strong>Staying ahead of technological advancements<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The hospitality industry is rapidly adopting new technologies to enhance customer experience and streamline operations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CFOs must stay updated on these advancements and assess their potential impact on the business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This knowledge enables CFOs to recommend and implement technologies that drive growth and efficiency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, investing in advanced booking systems, cloud native accounting platforms or AI-driven customer service platforms can significantly improve operational efficiency and customer satisfaction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-developing-strategic-plans\">Developing strategic plans<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Developing a strategic plan begins with aligning the company\u2019s vision and mission with its long-term goals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CFOs play a critical role in this process by ensuring that financial aims support the overall strategic direction.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Conducting a SWOT analysis is a vital step in this process, as it helps show the company\u2019s strengths, weaknesses, opportunities, and threats.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-conducting-a-comprehensive-swot-analysis\"><strong>Conducting a comprehensive SWOT analysis<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">A SWOT analysis offers a comprehensive view of the internal and external factors that can affect the company\u2019s success.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By identifying strengths and weaknesses, CFOs can develop strategies that leverage the company\u2019s capabilities while addressing its vulnerabilities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Recognizing opportunities and threats allows CFOs to plan for potential market changes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, if a SWOT analysis reveals a strong brand reputation but a lack of digital presence, the CFO can prioritize digital marketing initiatives to enhance online visibility.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-setting-smart-objectives\"><strong>Setting SMART objectives<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Setting SMART objectives\u2014<strong>S<\/strong>pecific, <strong>M<\/strong>easurable, <strong>A<\/strong>chievable, <strong>R<\/strong>elevant, and <strong>T<\/strong>ime-bound\u2014ensures that the strategic plan is actionable and trackable.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These objectives provide a clear roadmap for the company\u2019s growth initiatives, making it easier to measure progress and make adjustments as needed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, a SMART objective might be to increase direct bookings by 20% within the next year through targeted marketing campaigns and improved website functionality.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-financial-planning-and-resource-allocation\">Financial planning and resource allocation<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Effective financial planning and resource allocation are essential components of strategic planning.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CFOs must develop budgets that align with strategic objectives and ensure that resources are allocated efficiently.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This involves making critical decisions about where to invest and where to cut costs.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-developing-balanced-budgets\"><strong>Developing balanced budgets<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Creating balanced budgets that align with strategic goals is a complex task that requires careful consideration.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CFOs must evaluate different investment opportunities and prioritize those that offer the highest return on investment (ROI).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This ensures that the company\u2019s financial resources are used effectively.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, investing in staff training programs may yield high ROI by improving service quality and customer satisfaction, leading to repeat business and positive reviews.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-implementing-risk-management-practices\"><strong>Implementing risk management practices<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Robust risk management practices are crucial in mitigating financial risks. CFOs must identify potential risks and develop strategies to manage them.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This involves regularly reviewing financial performance and adjusting ensure that the company stays on track to achieve its strategic objectives.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, diversifying revenue streams by expanding into new markets or offering new services can reduce dependency on a single source of income and mitigate financial risks.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-execution-of-strategic-plans\">Execution of strategic plans<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The successful execution of strategic plans requires a well-defined implementation roadmap.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CFOs must work closely with other executives to translate strategic objectives into actionable steps.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This involves setting clear timelines, assigning responsibilities, and setting up performance metrics.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-creating-an-implementation-roadmap\"><strong>Creating an implementation roadmap<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">An implementation roadmap outlines the steps needed to achieve strategic objectives.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CFOs must collaborate with other departments to ensure that the plan is workable and that all necessary resources are available.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This roadmap serves as a guide for the entire organization, ensuring that everyone is aligned with the company\u2019s strategic goals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, if the strategic plan includes expanding into a new market, the roadmap might detail the steps for market research, regulatory compliance, and local partnerships.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-monitoring-performance-and-adjusting\"><strong>Monitoring performance and adjusting<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Regularly monitoring performance is crucial to ensure that the strategic plan stays on track.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CFOs must set up performance metrics and review them periodically to assess progress.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the company is not meeting its goals, CFOs must identify the reasons and make necessary adjustments to get back on track.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, if a new marketing strategy is not yielding the expected results, the CFO might recommend reallocating resources to more effective channels or adjusting the campaign\u2019s messaging.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-final-thoughts\">Final thoughts<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In conclusion, CFOs in the hospitality sector play a crucial role in developing and executing strategic plans that drive business growth and expansion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By using their financial expertise and strategic insight, CFOs can ensure that their companies are well-positioned to navigate market challenges and seize opportunities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As the hospitality industry continues to evolve, the strategic leadership of CFOs will be essential in shaping the future of their organizations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finance leaders are encouraged to embrace their strategic roles and lead their companies towards sustained success.<\/p>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to our Sage Advice Newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get our latest business advice delivered directly to your inbox.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-ab515c6e-7e90-4c2f-a67e-113872516e8b\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1073797282-1440x810.jpg\" class=\"single-cta__image\" alt=\"Working from home with tea in hand\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1073797282-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n<section class=\"more-topics alignfull has-grey-light-background-color wp-block-sage-post-topics\">\n\t<div class=\"container\">\n\t\t<div class=\"row\">\n\t\t\t<div class=\"col col-12 col-lg-4\">\n\t\t\t\t<h3 class=\"more-topics__title h2\">Browse more topics from this article<\/h3>\n\t\t\t<\/div>\n\t\t\t<div class=\"col col-12 col-lg-8\">\n\t\t\t\t<ul class=\"post-tags__list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-us\/blog\/hub\/cfo\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tCFO\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-us\/blog\/hub\/food-beverage\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tFood &amp; beverage\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-us\/blog\/hub\/growing-a-business\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tGrowing a business\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<div class=\"alignfull wp-block-sage-related-posts\">\n\t<section class=\"related-posts card-grid has-dark-background-color\">\n\t<div class=\"container\">\n\t\t\t\t\t<div class=\"row\">\n\t\t\t\t<div class=\"col\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--featured h1\">Explore more wisdom<\/h2>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"row related-posts__featured\">\n\t\t\t\t<div class=\"col card-grid__item\">\n\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-0 post-38463 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-business-intelligence tag-cfo tag-cloud-financial-management business_type-growing-business industry-healthcare card-post--is-clickable\"\n>\n\t<div class=\"card-post__media-wrapper\">\n\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1473163791.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1473163791-684x384.jpg 684w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1473163791-768x432.jpg 768w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1473163791.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"card-post__content\">\n\t\t\t\t\t<div class=\"card-post__label\">Recommended<\/div>\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-11-06T10:05:00-05:00\">November 6, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">7 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h3\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\tclass=\"card-post__title-link\"\n\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-us\/blog\/senior-living-accounting-software-vs-care-platform\/\"\n\t\t\t\t>\n\t\t\t\n\t\t\tSenior living accounting software vs care platform: which system owns which number\n\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/p>\n\n\t\t\n\t\t\t\t\t<p class=\"card-post__description\">\n\t\t\t\tWhich numbers belong in your care platform and which in senior living accounting software, plus the reconciliation questions for multi-community CFOs.\t\t\t<\/p>\n\t\t\n\t\t\t<\/div>\n\n\t<\/article>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\t\t\t<div class=\"row related-posts__non-featured\">\n\t\t\t\t<div class=\"col col-12\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--more h4\">More on this Topic<\/h2>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-1 post-38455 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-business-intelligence tag-cfo tag-cloud-financial-management business_type-growing-business industry-healthcare\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-us\/blog\/dental-practice-kpis-multi-location-scorecard\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/08\/BrandShootLDN_Jul2022_TechSoftware_0015-Final-684x384.jpeg\" class=\"card-post__image\" alt=\"A woman working on her desktop computer in an office.\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/08\/BrandShootLDN_Jul2022_TechSoftware_0015-Final-684x384.jpeg 684w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/08\/BrandShootLDN_Jul2022_TechSoftware_0015-Final-768x432.jpeg 768w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/08\/BrandShootLDN_Jul2022_TechSoftware_0015-Final-1440x810.jpeg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-11-04T12:27:30-05:00\">November 4, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">8 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tDental practice KPIs for multi-location groups: a scorecard by location\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-2 post-38392 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-business-intelligence tag-cfo tag-cloud-financial-management business_type-growing-business industry-healthcare\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-us\/blog\/first-month-end-close-after-acquiring-senior-living-community\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2025\/02\/Image-2-684x384.jpg\" class=\"card-post__image\" alt=\"Managing financial requirements\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2025\/02\/Image-2-684x384.jpg 684w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2025\/02\/Image-2-768x512.jpg 768w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2025\/02\/Image-2-1214x810.jpg 1214w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-11-02T21:15:00-05:00\">November 2, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">7 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tYour first month-end close after acquiring a senior living community: the finance setup to settle first\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-3 post-38390 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-business-intelligence tag-cfo tag-cloud-financial-management business_type-growing-business industry-healthcare\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-us\/blog\/dental-group-contribution-margin-by-payer-ppo-analysis\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2025\/11\/the-future-of-capital-planning-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2025\/11\/the-future-of-capital-planning-684x384.jpg 684w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2025\/11\/the-future-of-capital-planning-768x465.jpg 768w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2025\/11\/the-future-of-capital-planning.jpg 1200w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-10-30T09:03:00-04:00\">October 30, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">7 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tPPO pressure: the contribution margin questions dental group finance teams should ask\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-4 post-38388 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-business-intelligence tag-cfo tag-cloud-financial-management business_type-growing-business industry-healthcare\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-us\/blog\/senior-living-cash-flow-occupancy-gap\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2025\/11\/enterprise-fixed-asset-strrategy-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2025\/11\/enterprise-fixed-asset-strrategy-684x384.jpg 684w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2025\/11\/enterprise-fixed-asset-strrategy-768x512.jpg 768w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2025\/11\/enterprise-fixed-asset-strrategy.jpg 1200w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-10-28T09:00:00-04:00\">October 28, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">7 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tOccupancy is up: why is cash still tight in senior living?\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Discover how CFOs in the hospitality industry can develop and execute strategic plans to drive business growth and expansion.<\/p>\n","protected":false},"author":1427,"featured_media":25779,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_is_cornerstone":"","_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_opengraph-title":"","_yoast_wpseo_opengraph-description":"","_yoast_wpseo_opengraph-image":"","_yoast_wpseo_opengraph-image-id":"","_yoast_wpseo_twitter-title":"","_yoast_wpseo_twitter-description":"","_yoast_wpseo_twitter-image":"","_yoast_wpseo_twitter-image-id":"","_yoast_wpseo_schema_page_type":"","_yoast_wpseo_schema_article_type":"","_sage_video":false,"_yoast_wpseo_focuskeywords":"[]","_yoast_wpseo_keywordsynonyms":"[\"\"]","_yoast_wpseo_primary_category":"46","sage_membership_post_content_type":"article","sage_membership_post_featured_video_id":"","sage_membership_post_video_type":"trailer","sage_membership_post_featured_video_duration":"","post_featured_image_hide":false,"sage_hide_published_date":false,"sage_hide_read_time":false,"sage_hide_share_buttons":false,"_pwl_sage_podcast_buzzsprout_src":"","footnotes":""},"categories":[46],"tags":[427,269,153],"business_type":[41],"lilypad":[],"context":[],"industry":[452,450],"persona":[100],"imagine_tag":[466,468,444],"coauthors":[609],"class_list":["post-25773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-growth-customers","tag-cfo","tag-food-beverage","tag-growing-a-business","business_type-growing-business","industry-hospitality","industry-software-saas"],"sage_meta":{"region":"en-us","author_name":"Bill Fuesz","featured_image":"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/10\/BrandShootLDN_Jul2022_Hospitality_0988-1.jpg","imagine_tags":{"466":"Food &amp; Beverage","468":"Grow your business","444":"Intacct Medium Business"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice US","distributor_original_site_url":"https:\/\/www.sage.com\/en-us\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts\/25773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/users\/1427"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/comments?post=25773"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts\/25773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/media\/25779"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/media?parent=25773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/categories?post=25773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/tags?post=25773"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/business_type?post=25773"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/lilypad?post=25773"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/context?post=25773"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/industry?post=25773"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/persona?post=25773"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/imagine_tag?post=25773"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/coauthors?post=25773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}