Managing a venue involves a lot of moving parts. The right software brings them together, from handling enquiries and contracts to coordinating event details and tracking revenue. Here's what to look for.
Managing a venue can be demanding, but with the right software you can schedule events, coordinate with planners, and keep everything running smoothly. Here's a selection of must-have features to consider when choosing venue management software.
A CRM centralises all current and potential customer data, including leads, clients, suppliers, and stakeholders. Along with contact details, it lets users capture and create leads, record activities and tasks, and have a single view of every customer interaction. By centralising contact information and communication history, a CRM helps your venue stay connected to customers, streamline processes, and improve operational efficiency.
A function diary is the central hub for all venue operations, allowing you to view all quoted, tentative, and confirmed bookings for meeting spaces and sleeping rooms. It should be updated in real time and accessible by all team members, whether on-site or off-site. These real-time updates prevent scheduling conflicts and ensure every confirmed event booking receives the necessary resources, staff, and assistance.
The faster you respond to an enquiry, the more likely you are to secure a booking. Pre-designed proposals and contract templates help you create and send documents to potential clients quickly. An electronic signature feature can further speed up document processing, saving time for both you and your clients.
Live availability and instant booking allow potential clients to see when a venue space is available, increasing the likelihood of securing bookings. For venue managers, an automated booking process reduces the administrative burden and frees up time for other parts of the business. Managing bookings in real time also helps maximise occupancy rates and minimise the risk of double bookings.
When your software communicates with other systems — payment gateways, property management systems, catering management software, and social media platforms — it eliminates manual data entry, saves time, and reduces the risk of errors. Integration with payment gateways ensures secure and efficient transaction processing, while 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 improves customer satisfaction and loyalty.
Having a great venue space is just the start. Venue software often includes marketing tools to help spread the word and drive bookings. Using subscription types, you can create segmented audiences and run email marketing campaigns targeted at specific groups based on age, gender, location, interests, and more. Surveys are another useful tool — gathering feedback from customers after an event helps you understand what worked and what didn't, so you can improve your services over time.
Good venue software should make it easy to invoice clients, take payments online, and report on revenue by cost centre against budget. Consider what invoicing and payment options are available and whether integrations exist for different payment methods. iVvy offers a combined billing automation and payment platform, iVvy Pay powered by Worldpay. It automatically generates payment and balance invoices, sends payment reminders, and once payment is received, instantly notifies your team, marks invoices as paid, and automates booking confirmation.
Banquet event orders (BEOs) detail all aspects of an event, including food and beverage selections, AV requirements, seating arrangements, and timing. They're essential for coordinating between the various departments involved in event planning and execution. By centralising and digitising BEOs in your venue software, changes can be updated in real time, reducing the likelihood of miscommunication and errors.
Good venue software should always give you access to reporting and analytical data. By collecting data on booking trends, revenue generation, and customer preferences, your venue can tailor marketing strategies, adjust pricing, and improve services. Reporting tools can also help identify areas of waste or inefficiency, and the ability to generate reports on demand aids financial planning and forecasting.
Venues using iVvy have seen a 20% increase in booking conversions through tools such as live availability, lead capture, and instant booking and payment options. With automation, templates, real-time data reporting, and over 50 integrations, iVvy helps save time and reduces manual input. The software is cloud-based and includes a central function diary, virtual BEOs, CRM, and instant booking functionality. iVvy offers full onboarding, training, ongoing education, and 24/7 support — with a 6/7 client satisfaction rating.
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