When it comes to financial data, speed and accuracy are crucial. Learn how Raines Company made M3’s Professional Services the backbone of its bookkeeping process to cut financial statement turnaround times as it grew.

REVENUE MANAGEMENT

Following a successful merger and acquisition with HP Hotels, Raines had to run two separate accounting environments. This made it tricky for leadership to produce timely financials as their portfolio expanded.

Why it matters: Financials that couldn’t keep pace with ambitions.

Initially starting with services and Accounting Core™, Raines partnered with M3 and efficiently onboarded its portfolio.

Top 3 Core Objectives: Driven to operate more efficiently across the Southeast, Raines needed a new accounting solution.

Delayed Financials: In some cases, Raines faced a 60-90 day window to receive financial statements.
Outdated Accounting System: Before M3, Raines’ accounting software couldn’t deliver enterprise-level capabilities at certain properties.
Time-Consuming Reporting: The Raines team was often stuck spending hours behind spreadsheets and pulling GMs from higher-value work.

Innovators Mentioned

Raines Company

Jason LaBarge

Executive Vice President of Operations

Raines Company

Joseph Powers

VP of Accounting

Raines Company

"The hidden benefit of M3’s accounting services is that we’re able to take responsibilities off our GMs’ plates and let them step out from behind the computer."

Jason LaBarge

Executive Vice President of Operations

👍 Executive Vice President of Operations Jason LaBarge said that we’re able to take responsibilities off our GMs’ plates:

"The hidden benefit of M3’s accounting services is that we’re able to take responsibilities off our GMs’ plates and let them step out from behind the computer."

⚖️ The selection process: During their research process, Joseph Powers evaluated M3's product differentiators, customer support, and holistic value as a strategic partner and ultimately decided that M3 was the best fit solution:

VP of Accounting Joseph Powers said, about their decision: "Before switching to M3, it was taking some properties 60-90 days to get financial statements out. That didn’t support our growth plans."

📈 The results: M3 began offering Professional Accounting Services, hospitality-specialized accounting services delivered by people who live inside the M3 platform every day.

Hospitality-Specific Insights By augmenting some duties and inserting new ones, M3 supports Raines’ internal accounting goals.
Transformative Integrations On top of accounting services, Raines leveraged M3’s dozens of software integrations to further simplify the day-to-day.
Portfolio-Wide Visibility Raines can now study the financial performance of its entire portfolio, while retaining the ability to do property-by-property due diligence, drill-in, and drill-down.