LEHI, UT—Carter Frank, COO of In-Group Hospitality, is responsible for forecasting and adjusting hotel operations to maximize financial performance. However, Frank noticed the way his team was going about its decision-making process needed improvement in order to be more efficient.
“For years, our team manually compiled daily reports, in different formats from varying brand PMS systems, at each In-Group managed property, then organized it in a usable format for analysis and comparison before it was actionable,” said Frank. “Throughout each month, we operated in this fashion, waited for the financial statements to finalize, to then make operational adjustments with confidence.”
By integrating M3’s platforms into In-Group’s business, Frank was able to obtain broad, actionable data at his fingertips daily. Decisions backed by data no longer needed to wait for financial statements—which created efficiencies and ultimately drove performance.
“These challenges have been a part of our business for as long as I can remember,” he said. “Over the years, we’ve always felt we had state-of-the-art systems. However, M3 is a giant leap forward for us. We began implementing M3 into our business in early 2018. In early 2019, we are preparing to integrate M3 Time & Attendance.”
As a result of this implementation, Frank believes In-Group Hospitality is realizing exponential efficiencies and savings.
“From the GMs to the senior leadership team, M3 has transformed In-Group’s operations across the board,” he said. “Almost immediately after adopting M3 across nearly 20 managed properties, M3’s accounting and business intelligence capabilities drastically changed In-Group’s financial reporting and analysis process.
“Now we are able to drill down into invoices and see clearly what makes up each item, then translate this piece into the budgeting and forecast process,” he continued. “Having this type of rich insight at our fingertips allows us to make informed decisions and adjustments in real time, which is something we had wanted to do but were never able to execute before M3. M3’s accounting and business intelligence platforms allow In-Group to import data from multiple property management systems directly into M3 without having to manipulate data. In addition, M3 connects seamlessly with In-Group’s payroll and benefits providers, giving the In-Group team a better sense of the bigger financial picture. Having the ability to manage even the smallest pieces of data allows In-Group to realize exponential efficiencies and savings.”
With the right key performance indicators (KPIs) in place through M3, In-Group is now able to drive its business forward with intelligent insights and reporting.
“This robust, actionable data equips team members at every level with the tools they need to successfully manage the company’s entire portfolio from a single property to an entire portfolio,” he said. “M3 is uniquely positioned to empower In-Group’s team members in the field and in the corporate office while ensuring consistent processes, transparent decision-making and profitable insight. Thanks to M3’s business intelligence platform, we are finally able to make informed decisions on a month-to-month basis resulting in a better bottom line. We’ve used other accounting and business intelligence platforms in the past, but none as powerful as M3. As our portfolio changes and shifts, so do the KPIs that inform our decision-making. Having the ability to see every property at all times while managing costs gives us a significant advantage over our competition and allows us to be more profitable.”