Must-Have Features of Venue Management Software

Customer Relationship Management System

Function Diary

Quote & Contract Templates

A customer relationship management system (or CRM) is a must-have feature of venue management software that centralises all current and potential customer data, including leads, clients, suppliers, and stakeholders. Along with contact details, a CRM enables users to capture and create leads, record activities, tasks & have a single view for every customer interaction.

By centralising contact information and communication history, a CRM system can help your venue stay connected to customers, streamline processes, and improve operational efficiency.

A function diary is an essential tool for managing a venue effectively. It is the central hub for all venue operations, allowing you to view all quoted, tentative, and confirmed bookings for meeting spaces and sleeping rooms. Your venue's function diary should be updated in real-time and be accessible by all team members (both on-site or off-site).

These real-time updates prevent any scheduling conflicts or overcrowding of venue and accommodation areas, ensuring that every confirmed event booking receives the necessary resources, staff, and assistance.

Successful venue management is all about efficiency. The faster you respond to an enquiry, the more likely you are to secure a booking. To achieve this, consider using venue management software that includes pre-designed quote and contract templates. This feature will help you create quotes and contracts quickly, enabling you to send them to potential clients faster. 

Additionally, having an electronic signature feature in your venue management software can further expedite document processing, saving time for both you and your clients.

Live Availability and Instant Booking

Integration Capability

Marketing Tools

Live availability and instant booking functionality are game-changing features of venue management software, offering a range of benefits for both venue managers and clients. Firstly, these features significantly enhance the customer experience by allowing potential clients to see when a venue space is available. Having this information readily accessible increases the likelihood of securing bookings, catering to the growing expectation for instant gratification. 

For venue managers, an automated booking process reduces the administrative burden, freeing up time that can be spent on other aspects of your business. Being able to manage bookings in real time also helps to maximise occupancy rates and optimise revenue, as it minimises the risk of double bookings.

Integration makes everything more efficient and provides a seamless user experience for venue management. When your software communicates and shares data with other systems like payment gateways, property management systems, catering management software, and social media platforms, it eliminates the need for manual data entry, which saves time and reduces the risk of errors. 

Integration is more than just convenient; it creates a cohesive ecosystem where information flows freely. This means better decision-making and a more personalised service for your clients. For example, integration with payment gateways ensures secure and efficient transaction processing, while the connection with CRM systems allows for better tracking of customer interactions, preferences, and history. This information can be used to tailor services and promotions, which ultimately enhances customer satisfaction and loyalty.

For effective venue management, having an amazing venue space is just the start. To spread the word about your venue and get more bookings, it's important to have some marketing tools at your disposal. Luckily, many venue management software comes equipped with these features, however, it’s important to note which inclusions are right for your needs. 

For example, using subscription types, you can create segmented audiences and run email marketing campaigns targeted at specific groups. This means you can send personalised offers to people based on their age, gender, location, interests, and more. 

Another useful marketing tool is surveys. By getting feedback from customers after an event, you can learn what they liked and didn't like, and make changes to improve your services. 

Invoice Creation

Banquet Event Orders

Reporting and Analytics

As a venue manager, you want an easy way to keep your cash flowing, including invoice clients, taking payments online, and reporting on revenue by cost centre against budget. When researching venue management software options, consider what invoicing and payment options are available. Does your preferred provider offer a range of ways to make and receive payments? Are integrations available for different payment options? 

Venue management software like iVvy offers a combined billing automation and payment platform solution, iVvy Pay, powered by Payrix. This system automatically generates payment and balance invoices, sending upcoming reminders to encourage prompt payments via major credit cards and digital wallets. Once payment has been received, iVvy Pay instantly notifies your team, marks invoices as paid, and automates booking confirmation.

Banquet event orders (BEOs) are the small but substantial feature that details all aspects of an event, including food and beverage selections, AV requirements, seating arrangements, and timing. This feature is essential for coordinating between the various departments involved in event planning and execution, such as catering, setup crews, and event coordinators, ensuring everyone is on the same page. 

By centralising and digitising BEOs with your venue management software, changes can be updated in real time, reducing the likelihood of miscommunication and errors. This streamlined operation leads to a more efficient operation, higher client satisfaction, and a better reputation for your venue. 

Finally, good venue management software should always have access to reporting and analytical data. Reporting is the most efficient way for you and your team to gain insights into operations and make informed decisions regarding your venue spaces and hosted events. By collecting data such as booking trends, revenue generation, and customer preferences, your venue can tailor marketing strategies, adjust pricing, and improve services to better meet client needs. 

Additionally, reporting and analytics tools can help identify areas of waste or inefficiency, enabling venues to streamline operations and reduce costs. Being able to generate reports on demand also aids in financial planning and forecasting, ensuring your team has the information needed to plan for the future.