Emerging Raleigh-based Broadvine is aiming to bring standardized financial management to the hospitality industry, helping hotel operators and others focus on their guests.
“Most hotel management companies and ownership groups have multiple brands in their portfolio – each of which have unique systems to manage and evaluate their operational and financial performance,” says CEO Shawn Barber.
“Broadvine standardizes the data from these systems into a single, consistent architecture and makes it easier to view key performance indicators and enable data based decisions that increase hotel profitability and guest service.”
A modular, adaptable platform, the Broadvine “application was initially built by hoteliers for hoteliers and is now evolving under the leadership of technologists with enterprise product management, analytics, and agile software development expertise,” Barber says.
The company employs 20 people and is backed on an angel investor.
Broadvine is participating in the CED Tech Venture Conference in Raleigh on Sept. 19-20.
This profile is one in a series written, edited and published by WRAL TechWire in partnership with the CED.
- Email contact: email@example.com
- Website: https://broadvine.com
- Address: 4140 Parklake Ave. Suite 510, Raleigh, NC 27612
- CEO: Shawn Barber
- How many employees? 20
- Link to CED Tech Venture Company Profile: https://cednc.org/company-profile/broadvine
- What is the focus of your business?
We increase the profitability and operational efficiency for hospitality owners and management companies through financial performance management, business intelligence and analytical insights.
We strive to make the process of assimilating data and financial insights simpler, enabling asset managers and hotel operators to focus on delivering excellent guest satisfaction and service.
- What is the top pain point/business application you are seeking to address?
Most hotel management companies and ownership groups have multiple brands in their portfolio – each of which have unique systems to manage and evaluate their operational and financial performance.
Broadvine standardizes the data from these systems into a single, consistent architecture and makes it easier to view key performance indicators and enable data based decisions that increase hotel profitability and guest service.
- What makes it unique?
The application was initially built by hoteliers for hoteliers and is now evolving under the leadership of technologists with enterprise product management, analytics, and agile software development expertise.
Broadvine is a modular application that integrates with various hospitality systems and accounting platforms thus, all customers have the ability to integrate with and receive the full value of our software. The modular approach also provides the most flexibility to customers, allowing them a la carte access to those services that enable them to most effectively manage their portfolio.
We are also one of the few hospitality technology companies that offers a SaaS model, which provides increased scalability and flexibility.
Together, these aspects make Broadvine one of the most affordable and robust applications for hospitality BI and performance management in the marketplace today.
- Why should investors be interested in your firm?
There are over 1,000 management companies that operate anywhere from 5 – 1000 properties in their portfolio. With each brand using unique systems to manage and evaluate operational and financial performance, management companies are often using manual, inefficient methods to manage the performance and profitability of their portfolio.
In fact, the hospitality market is currently underserved by technology providers as we estimate that less than 3% of these property management companies are using an application such as Broadvine.
Finally, we believe our core application is capable of serving other segments in the US, putting Broadvine in a unique position to be able to deliver a cost effective, robust application to multiple markets.
- How are you financed at this point?
Broadvine is currently owned and 100% financed by angel investor, Bob Winston. Bob has decades of experience in the hospitality industry and is recognized as a visionary in the hospitality market segment.