Competitor Analysis, Financial Analysis, Key Risks and Challenges

This report provides a competitor analysis, financial analysis, and key risks and challenges for the software 'TraceMe' developed for the hotel industry. The competitor analysis includes direct and indirect competitors, such as Cloudbeds, and their impact on the market. The financial analysis examines the project cost and cash flow analysis of 'TraceMe'. The key risks and challenges discussed include operational risk, schedule risk, technical risk, and security risk. The report concludes with recommendations for the hotel industry in implementing the software.

Project

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Competitor analysis.....................................................................................................................1
Financial Analysis.......................................................................................................................1
Key risks and challenges.............................................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................5

INTRODUCTION
An organisation develop a software “TraceMe” for hotel industry to keep data of their
customers. Through this software client is easily check in and check out from hotel and analysis
different hotel rates easily. In this report consist of competitors analysis with direct and indirect
competitor, financial analysis and key risks and challenges (Kishimoto and et.al., 2018).
MAIN BODY
Competitor analysis
Competitor analysis is a strategy in which recognise major competitors and research their
products, sales and marketing strategies. This analysis help a business in preparing marketing
strategy and get competitive advantages. To set up their position in the market require to
compete with direct and indirect competitors like Cloudbeds which is used by the hotel for
operational management. The software is developed for hotel industry and mainly apply by the
Hilton hotel. Along with this software target to leisure traveller, business traveller and different
types of traveller (Kelly, 2020).
It is analysing that this software provide effective services in compare of other software
to Hilton hotel. The uniqueness of this software that it helps in decision making procedure but
c;loud beds use for only operational business activities. It is providing effective services like
people intend to book on trust. Different travellers can analysis price of hotels after login their id
in the software (Wnuk and Garrepalli, 2018). Moreover, automatic people counting on video
image and web based intelligent.
Financial Analysis
Financial analysis is the procedure of analysis businesses, projects, budgets and other
finance based activities that analysis their efficiency and suitability. There are analysing of
financial activities of “TraceMe” software to know actual financial performance (Davis, & Yen,
2019) .
Project cost: It is analysing that for the development of project total estimated cost $160
millon. For the business consultancy and feasibility studies charged $100000.
Cash flow analysis:
Month Jan Feb March April May June
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Loan 10500 9500 9900 9300 8300 6000
Investment. 4700 4700 4700 4700 4700 4500
Total Sales: 1300 1450 1990 850 1750 9000
SET UP COSTS
TOTAL
Direct Costs:
Materials. 1050 1050 1050 1050 1250 1150
Stock. 250 250 250 300 300 450
Additional Staffing 250 250 250 300 300 300
TOTAL Direct Costs: 1550 1550 1550 1650 1850 1900
Fixed Costs:
Salaries 1 3700 3700 3700 4000 4000 4000
Rent. 1100 1265 1455 1673 1924 2212
Rates 4500 4500 4500 4500 4500 4500
Staff Wages. 4000 4000 4000 4000 4000 4000
Utilities/Gas/Elec 90 100 80 120 140 200
Phones. 1500 1650 1815 1997 2196 2416
Freight & Postage 9000 9900 10890 11979 13177 14495
Stationary. 1000 1100 1210 1331 1464 1611
Promotion & Ad. 5000 5500 6050 6655 7321 8053
Website. 2000 2200 2420 2662 2928 3221
Accountant 6000 6600 7260 7986 8785 9663
Legal 2000 2200 2420 2662 2928 3221
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Transport 18000 20070 22378 24952 27821 31020
Vehicles 8500 9478 10567 11783 13138 14649
Maintenance 5500 6133 6838 7624 8501 9478
Insurance 750 750 750 800 800 800
TOTAL: 72640 79145 86333 94723 103622 113538
Sub Total: Fix +
Direct Costs. 74190 80695 87883 96373 105472 115438
Key risks and challenges
 Operational risk: This risk occur in the business when Hilton hotel not able to conduct
activities effectively during to project so it become reason of operational risk. There are
consisting of insufficient resources, improper management of tasks.
 Schedule risk: It is time based risk that face by the hotel because wrong scheduled impact
on project development and delivery. It is mainly indicated at the running behind time as
a result project development (Wang, Lafreniere and Grossman, 2018).
 Technical risk: it is functional risk that impact on the performance meant direct impact on
product of Hilton hotel activities. The hotel face problem of less number of skilled
employees who have not knowledge about the software.
 Security risk: If any hacker hack data of this software so company face many problem
and impact on the hotel in negative manner. Along with it become reason of the data
breaches and loss their customer data (Okes, 2019).
Challenges
 The main challenge face by the Hilton hotel that provide training to all the staff members
in regard of new software that take lots of time.
 After application of new software find out many mistakes
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 Create gap between different departments.
 Keep data in proper security and appoint advanced software based skill full person.
 Lack of sources: For proper application requires to utilise all the resources on time like
good quality of internet facility (Bertolino and et.al., 2018).
 Most of the people arrive once time in hotel so it create problem to manage all login id of
customers.
CONCLUSION
As per the above report it has been concluded that when develop a software for hotel
industry so require to conduct competitor analysis and identify all potential risks and challenges
that arise in business.
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REFERENCES
Books and Journals
Kishimoto, N. and et.al. (2018). Simulation training for medical emergencies in the dental setting
using an inexpensive software application. European Journal of Dental Education.
22(3). e350-e357.
Wnuk, K., & Garrepalli, T. (2018). Knowledge management in software testing: a systematic
snowball literature review. e-Informatica Software Engineering Journal. 12(1).
Wang, X., Lafreniere, B., & Grossman, T. (2018, April). Leveraging community-generated
videos and command logs to classify and recommend software workflows.
In Proceedings of the 2018 CHI Conference on Human Factors in Computing
Systems (pp. 1-13).
Bertolino, A. and et.al. (2018). A categorization scheme for software engineering conference
papers and its application. Journal of Systems and Software. 137. 114-129.
Bischof, S., Stüdeli-Fey, E., & Meile, R. (2019). Raw data collection software in the Swiss NFI.
In Swiss National Forest Inventory–Methods and Models of the Fourth Assessment (pp.
377-401). Springer, Cham.
Jayanthi, R., & Florence, L. (2019). Software defect prediction techniques using metrics based
on neural network classifier. Cluster Computing. 22(1). 77-88.
Davis, W. S., & Yen, D. C. (Eds.). (2019). The information system consultant's handbook:
Systems analysis and design. CRC press.
Kelly, K. S., (2020). Fund raising and public relations: A critical analysis. Routledge.
Okes, D. (2019). Root cause analysis: The core of problem solving and corrective action.
Quality Press.
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