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gulsevim

Cloud Software Allows 700-Acre Resort's Financial Team to Regain Significant Man Hours ... - 0 views

hospitalitytech.com/m-regain-significant-man-hours

ERP cloud-based techhnology financial software

shared by gulsevim on 21 Jan 18 - No Cached
  • When Tetherow, a now 700-acre resort in Bend, Oregon, first opened as a golf course and clubhouse in 2008, we were a small business with big ambitions.
  • Today, Tetherow is made up of twenty individual entities rolled into one wholly owned subsidiary, including a 50-room boutique hotel, a pool, two restaurants, vacation rental homes, an events pavilion, a recreation center, a golf academy, and various residential neighborhoods, as well as the 18-course golf course that started it all. In addition to our leadership team, our rapid growth has been led by our financial team’s investment in a technology that allows us to grow fast, under pressure, and with limited risk.
  • We came to realize that the technology and accounting systems that we had added piecemeal over the years to support our burgeoning business, a combination of Jonas restaurant software, QuickBooks, and Excel, didn’t allow us to scale and sustain growth.
  • ...3 more annotations...
  • After doing some thorough research, we decided to invest in Sage Intacct, a cloud-based financial ERP, because we felt its features – particularly automation – could take on our day-to-day tasks, and give our finance department the time in their day to provide trusted strategic advice, rather than mostly crunch numbers.
  • Our finance team was able to shorten our consolidations process from more than a week to less than four hours per month, cut our monthly close in half – from twenty to fewer than ten days – and regained 24 hours a week – previously spent on cash analysis.
  • Most importantly, a cloud-based financial ERP changed our culture. The finance team saw productivity gains that made us better business partners across the organization. We could provide advice on strategic business decisions
  • gulsevim on 21 Jan 18
     
    Security has always been an issue for financial services which led to avoidance of some new technology systems. Due to advancements in cloud systems, I think it is time for financial services arms of hospitality organizations to reap the increasing number of benefits of cloud computing. Also, cloud-based financial Enterprise Resource Planning (ERP) helps companies enter new markets, explore new opportunities, and strengthen their business processes. Cloud-based financial ERP has certainly helped Tetherow Resort by reducing costs and allowing their finance department to concentrate on their strategic business matters rather than dealing with IT and infrastructure issues. By switching to a cloud-based system, Tetherow Resort was able to reduce the amount of infrastructure stored onsite, reduce costs of the process and develop new strategic plans. In my view, there is a huge potential in cloud-based financial ERP in for financial and even non-financial companies, because through this system companies' finance departments are able to increase the efficiency of their operations.
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