See published article on HotelManagement.net by Jenna Tesse Fox. December 18, 2020
Hotel Investor Apps (HIA), the provider of the only hotel-specific Enterprise Resource Planning (ERP) platform and state-of-the-art, next generation accounting software, today announced that Coakley & Williams Management Company (C&W), a leading, nationwide, full-service hotel management company, has converted to its new platform to reduce hotel expenses and gain greater flexibility for its owners and property level management.The Holiday Inn Express & Suites Middletown – Goshen, in upstate N.Y. is part of Coakley & Williams’ portfolio. Photo credit: IHG” title_text=”The Holiday Inn Express & Suites Middletown – Goshen, in upstate N.Y. is part of Coakley & Williams’ portfolio. HIA is disruptive technology. Having all of your business programs on one platform, integrating data and eliminating many hours of wasted time every week with built-in automations is like leaping from floppy disks to the cloud,” said Charlie Fritsch, CEO of Hotel Investor Apps. “In the current economic and travel climate, hotel owners increasingly want time- and money-saving options to reduce expenses and improve profitability. Our technology provides the only true-cloud, Enterprise Resource Planning platform built specifically for hotels, as well as the only full functionality mobile app, which provides more accounting services to clients with easier access than any other software. One literally can review P&Ls and budgets and analyze real-time data for an entire hotel portfolio all from the convenience of a handheld device.”
“It might seem counterintuitive to purchase and convert to new software during the worst hotel downturn in the last 50 years,” said Stephen Hahn, Coakley & Williams vice-president of corporate services/CIO. “However, this software gives our owners the latest technology which meaningfully reduces cost, while giving us easier access to data. This allows us to manage revenues and expenses more accurately and rapidly. This software makes us and our owners more competitive.”
Hotel Investor Apps is built on a global ERP with access to a marketplace of integrated add-on solutions for hotels from automated accounts payable to time-and-attendance software. As a cloud ERP, HIA has the agility to continuously release new platform enhancements and make speedy customizations, such as the new banking data integration which allows users to pull real time bank account data into Dashboards. This ability to tailor clients’ programming needs is not available with older, stand-alone software options. Additionally, customers can add new users without any upcharge.
Enterprise Resource Planning (ERP) is a form of business management software which integrates all the processes needed to run business operations onto a single system. HIA ERP is a suite of applications from accounting to business intelligence, employee expense, workflow, etc., which seamlessly shares data for more powerful and informative reports from multiple business activities.
Coakley & Williams now utilizes HIA’s services across its 32-hotel portfolio. “HIA provides us with virtual access to a one-stop web browser that’s not clunky like their competitors’,” Hahn said “Their reporting capabilities are top-notch, but perhaps most importantly, their customer service helps us quickly and seamlessly through any issues that may arise. I can pick up the phone, and someone will answer and help me immediately. With the hospitality industry clawing for any piece of business it can find, the ability to move quickly and assuredly through our accounting related processes is invaluable.”
“Time-saving services, such as personalized dashboards for different personnel, scheduled reports and work flow functions, allow users to react immediately to day-to-day operation results, which has a dramatic impact on improved workflow, resulting in meaningful cost savings,” according to Fritsch.
On average, HIA services are between 30 and 45 percent less expensive than other hotel accounting programs. However, Fritsch adds, “The real value is redirecting your staff’s time from tedious or redundant tasks to revenue generating activities. For example, the staff time saved in a 20-hotel portfolio could add up to 1,040 hours/month (260 hours/week) of time to work on the business, instead of on gathering data.”
“At the end of the day, accounting software is defined by ease of use and access, both measures where HIA soundly outperforms its competitors,” Hahn added. “As we look for ways towards accelerating the recovery for our properties, HIA provides us with a competitive edge.”
About Hotel Investor Apps
Based in Glenwood, Md., Hotel Investor Apps (HIA) is the only hotel-specific Enterprise Resource Planning (ERP) platform and state-of-the-art, next generation accounting software. HIA is a true-cloud based solution to virtually all hotel and portfolio-wide accounting needs, as well as built in business intelligence and integrated solutions for everything from human resources to document management. HIA allows users to access advanced, multifaceted accounting solutions, informative dashboards and customized financial reports most relevant to decision-making. Designed for ease of use with built in help guides, budgeting and forecasting, and secure banking integration.