Renowned hotel sees 70% reduction of accounting costs, time and efforts
Company Info :
A renowned hotel development and management company, headquartered in Houston, Texas. 13 properties being operated by industry’s finest patrons, partners and investors with extensive experience in improving hotel performance.
Managing the daily sales was intimidating for the hotel groups, where their general managers had been facing challenges in approving them resulting in erroneous revenue figures. Lack of bank reconciliation resulted in mismatch of numbers in ledgers and bank accounts
The hotel group tried using CPA services but it did not result in any improvement due to lack of automation
Hence it decided to search for an exceptional accounting software that can be deployed on cloud and be intuitive, requiring minimal or no training on usability.
It has ended up selecting Nimble after extensive search and revising functionality of multiple hotel specific software solutions.
Nimble Solution :
Nimble provided ability to seamlessly approve daily sales and thus fixed revenue irregularities. Besides this bank reconciliation was implemented successfully, helping avoid unwanted expenses, revenue loss and excessive fees.
The Hotel Group especially appreciated the support team for their professionalism and promptness of the accounting services and addressing underlying issues.
Since 2018, the Hotel Group has been the client of Nimble, and were successful in managing their accounting activities. Nimble has filled the gaps of ‘Daily Sales Management’, ‘Cleaning up’ books provided a true financial picture, which their team and owner always desired. In early 2021 January, Nimble support staff took up the task for the hotel group in approving the daily sales and bank reconciliation, which helped in achieving reconciled numbers that matched in all the ledgers.
After partnering with Nimble, the Hotel Group’s guest service and revenues has remarkably improved, since it has simplified their administration work along with having accurate financial statements.
Nimble achieved all the benchmarks agreed before the start of the project, by delivering accuracy and process efficiency in financial visibility and control of cash flow.
The Hotel Group saw improvements of more than 70% reduction of overhead costs, time and efforts in managing its financial reporting.