Venue Management Software: A screenshot of Carats & Cake's new dashboard for venues.
NEWS

Carats & Cake Launches Dashboard for Sales and Finance Teams Across the Hospitality Industry

BY C&C EDITORS / 11 17 22

Carats & Cake, the financial operating system for the events industry, today announced the launch of its dashboard solution for sales and finance teams across the hospitality industry. The first product to launch since the company announced its Series A financing in September 2022, the dashboard provides property groups with easy-to-access, transparent, and real-time reporting as part of its end-to-end revenue optimization platform

“At Carats & Cake we partner with the largest hospitality groups and property asset owners in the world to ensure their teams have a purpose-built solution that improves efficiency and drives up revenue while increasing margins. One of the gaps we noticed that was fairly omnipresent across the industry was the lag in information sharing between sales and finance teams. Sales is always thinking about the next opportunity and finance is often looking at what has occurred to ensure all invoices are paid. With the Carats & Cake dashboard, we’re providing all business functions with access to the intelligence to drive their business forward by reducing that lag in up-to-date information,” said Rhett Keller, Chief Revenue Officer, Carats & Cake.

Venue Management Software: A screenshot of the Invoices page on Carats & Cake's new dashboard solution.

The new dashboard includes features such as: 

  • Invoice Creation & Scheduling (to match current process)
  • Real Time Notifications of Payment and Contract Activity
  • Insights into Prospect Engagement
  • Monthly / Quarterly Insights into Sales & Marketing Performance across Property Portfolio 
  • Payment Type Optimization Driven by Property Group Finance Teams and Types of Events (Wire / Credit Card / ACH / e-check)
  • PCI DSS Level 1 Compliance with Card On File Functionality (for reduced risk of fraud and disputes for property teams)
  • Streamlined Integrations with Property Management Solutions (PMS) Including: Amadeus, Oracle OPERA 5, TripleSeat, CI/TY, and others 

“No two property groups are the same in terms of team structure, reporting, or the end-to-end customer journey from discovering a property to hosting an actual event. Whether it’s a massive corporate conference, an intimate wedding, or any scale event in between, Carats & Cake is committed to building the industry-specific platform to ensure the best outcome for both the event host and the property asset owner,” said Jess Conroy, Founder and CEO, Carats & Cake. “What we’ve heard over the last few years—especially from multi-property groups—is that being able to standardize and have visibility across assets is material for decisions around future resource allocation. It’s a win for every facet of an organization when they can proactively inform themselves via real-time data. We’re providing that with our new dashboard and are looking forward to adding more features to the platform in the months to come.”

Venue Management Software: A screenshot of the payments page in Carats & Cake's software.

Founded in 2013, Carats & Cake touches every facet of property groups’ event sales operations including marketing, sales, contracting, invoicing, and financing. The company’s solutions connect the customer journey from venue discovery to actually paying for an event. Carats & Cake serves as a necessary solution for venues that complements CRM and POS solutions already in use on the hotel booking side of the business.

About Carats & Cake

Carats & Cake delivers the revenue optimization platform for venues and property groups, transforming the $100 billion annual events industry through a full suite of purpose-built marketing, sales, and customer conversion (contracting, invoicing, and payments) solutions. Built by industry leaders, Carats & Cake has cultivated nearly a decade of trust with best-in-class businesses. Founded in 2013 and backed by 1Sharpe Ventures, Founders Fund, Acrew Capital, Moore Specialty Credit, Correlation Ventures, SilverCircle, GMO VenturePartners, and others, Carats & Cake enables forward-thinking event venues, hospitality groups, and property asset owners to provide a modern customer experience while optimizing sales operations and increasing revenue.

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80%

Invoices Paid On-Time
 

15%

Average increase in event spend
 

4.5x

return on investment