Mews Cost Savings Calculator
Take just a few moments to calculate your time and cost savings with Mews Payments.
What is the methodology for calculating the cost savings?
Mews enables properties to see a significant difference in their cost and time efficiency across departments that have a huge reliance on manual tasks. Hence, to arrive at your final consolidated savings, we first assessed the metrics that are labor intensive and have a direct impact on your savings. These metrics are calculated based on the information you provided.
- Reception cost savings: Mews automates reception staff’s repetitive and time-consuming daily tasks.
Calculation methodology: Reception cost saving is a function of your occupancy, hourly reception labor cost and reception staff’s hourly manual transactions.
- Reception staff’s hourly manual transactions: It takes 180 seconds to perform one manual transaction. Hence, the reception staff performs 20 transactions an hour
- You’ll save costs related to 4 tasks per occupied/reserved room per day by eliminating repetitive and time-consuming Reception staff tasks.
- Accounting cost savings: Mews enables you to eliminate the daily payment reconciliation tasks done by your accounting staff so they can focus their efforts on other tasks.
Calculation methodology: Account cost saving is calculated by considering your hourly accounting labor cost and number of properties.
- 2 hours/day per property spent by Accounting on payment reconciliation tasks 5 days a week
- By eliminating daily reconciliation tasks, you’ll save costs related to 4 tasks per occupied/reserved room per day.
- No show cost savings: Mews automated payments secures properties against unpaid No-show reservations.
Calculation methodology: No show cost saving is dependent on your occupancy and average daily rate
- An average 1% of your monthly revenue is saved by automating all your payment rules.
- Reception time savings: It is a factor of your reception cost savings and the hourly reception labor cost
Final cost savings = (A + B + C) - Mews payment fees
How did we calculate the Mews payment fees?
Mews’ credit card processing fees are simple and transparent. There’s just one low rate for every type of card and the amount.
Mews processing fee is made up of
- Interchange + Assessment fees, that completely goes to the banks and card networks. For example, the estimated Mews payment fees on our cost savings calculations page is calculated with base rates of 0.98% for Mastercard/Visa and 3.95% for Amex.
- Mews payments fee, that helps fund the additional tools and resources to help you manage your business.
Interchange and Assessment fees usually make up >60% of the total Mews processing fee and are not controlled by Mews.
We never charge any monthly fees, PCI-compliance fees, cancellation fees, or software fees. Everything is included in our rate.
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