Baywood Hotels Receives Actionable Insights with HIA's ERP & Business Intelligence

OPERATIONS

Baywood Hotels Receives Actionable Insights with HIA's ERP & Business Intelligence

Baywood Hotels, a leading hotel development and management company with over 120 properties nationwide, sought to enhance their operational efficiency and financial management with an ERP solution.

Why it matters: By adopting Hotel Investor Apps' (HIA) ERP & Accounting Software Baywood Hotels gained a powerful, centralized back-office software with integrated business intelligence to help them achieve their tech-forward goals.

With HIA's advanced financial reporting capabilities, Baywood Hotels can customize reports to gain precise control over their property financials. This enables them to effortlessly track expenses and manage budgets, providing detailed insights that support better financial decision-making across their entire portfolio.

Top 3 Core Objectives: Baywood Hotels, a leader in the industry, was continuing to grow their portfolio, and knew they wanted a back office software that would give them better visibility, accuracy, and efficiency. They wanted:

Progressive Financial Management Software: Specialized and advanced accounting software designed for hotels. It needed to be easy to use for all their team members, yet rich enough to offer advanced consolidated financial reporting to drill into the details on portfolio, regional, and property level.
Streamlined Processes: With their previous accounting software, many of the accounting processes were manually laborious and time-consuming. Baywood was looking for software with an updated user interface that made their employees more productive and efficient.
Advanced Business Intelligence: Baywood wanted to incorporate BI directly into their financial management software for actional insights into operations, financials, and labor management. Ideally this would include visual dashboards displaying the most pertinent information for daily decisions.

Innovators Mentioned

Baywood Hotels

Hotel Investor Apps

Ron Asarawala

VP, Finance and Asset Management

Baywood Hotels

"We have been extremely impressed with the robust functionality of HIA and their responsiveness to customization requests."

Ron Asarawala

VP, Finance and Asset Management

👍 VP, Finance and Asset Management Ron Asarawala said that HIA has been a great partner for Baywood Hotels, exceeding expectations in product and service.:

"We have been extremely impressed with the robust functionality of HIA and their responsiveness to customization requests."

⚖️ The selection process: During their research process, Ron Asarawala evaluated Hotel Investor Apps's product differentiators, customer support, and holistic value as a strategic partner and ultimately decided that Hotel Investor Apps was the best fit solution:

VP, Finance and Asset Management Ron Asarawala said, about their decision: "This is exactly the intelligence tool we were looking for at Baywood. It is so helpful to see the different KPIs at a glance and have the flexibility to segregate the data by layers of filters and drill down for deep analysis. The HIA team has been great to work with, building out dashboards to our specifications."

📈 The results: Baywood Hotels has rolled out HIA’s accounting software across 6 regions and 120+ hotels. With the functionality in HIA's advanced financial reporting and customizable dashboards, Baywood Hotels gained more precise visibility and control over their property financials, enabling them to more easily track expenses, manage budgets, and make data-informed decisions.

Enhanced Reporting - Clear, Accurate, and Timely: The modern user interface with robust financial reporting has made it easier for all stake-holders to get the intel they need, when they need it, from property GMs to regional managers to corporate management
Easy Hotel Billing: Streamlined the accounts receivable process with advanced intercompany accounting automations
Daily Labor Intelligence: Updated labor dashboards and notifications keep managers alerted to overtime thresholds and labor anomalies.