Why it matters:
The Challenge of Finding a New Solution
Faced with the inefficiencies of their aging software used for over two decades, Crescent Hotels & Resorts identified the urgent need for a more modern solution that seamlessly integrates with their collection of other mission-critical systems. With a steadfast commitment to maximizing client satisfaction and operational efficiency, Crescent recognized the imperative to adopt a new system capable of delivering faster reporting and granting properties real-time access.
The absence of document attachment capabilities and the complexity of their legacy system hindered field operations and integration efforts. To address these issues, the company sought a user-friendly, paperless solution that could handle modern requirements while enabling properties to log in and perform tasks independently and efficiently. Prompt access to month-end data was crucial for expediting closing processes and facilitating communication between properties and centralized teams. Streamlining these processes would accelerate month-end tasks and allow for deeper analysis and informed decision-making, ultimately improving overall operational efficiency.
Crescent sought modern capabilities to address efficiency gaps, prioritizing a system tailored for the hospitality industry. Ease of use was paramount, especially for deployment in the field where General Managers and Directors of Finance needed straightforward, intuitive functionality. Recognizing the importance of responsive technical support, both Crescent Finance and the Centralized Accounting team valued M3's reputation for modern, hotel-specific technology and outstanding customer service. More than just a vendor, they sought a true partnership with M3, emphasizing the need for quick and responsive communication and a deep understanding of the unique demands of the Crescent portfolio.
"We were drawn to the system's tailored design for hospitality, prioritizing user-friendliness and seamless deployment in the field. It's crucial that our General Managers and Directors of Finance find it accessible, straightforward, and intuitive to navigate," says Scott Blair, Vice President of Centralized Accounting.
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How M3 Became the Solution for Crescent
Seeking a unified solution, Crescent embarked on a quest to find a platform capable of consolidating diverse systems across various properties with benefits to extend beyond accounting staff alone and into the business operation itself. Transitioning to M3, a solution that provided the accounting functionalities they required, proved pivotal in their decision-making process, ultimately aligning their technology infrastructure with their organizational needs.
“We aimed to streamline procedures as much as possible, saving time and effort to expedite our closing processes,” says Rob Smith, Chief Financial Officer at Crescent Hotels & Resorts. He continues, “With M3, properties can easily review P&Ls throughout the month, mitigating issues by the time we reach closing. This ensures swift closures without unnecessary delays while ensuring data accuracy. There isn’t a reason for us not to close fast. "
There was a strong belief that M3 was the right system to propel the company to new heights. While encountering inevitable challenges along the way, Crescent remains optimistic, particularly given the enthusiasm expressed by field personnel experienced with M3. The decision to opt for M3 is grounded in its affordability and the belief that its capabilities will deliver the efficiencies and functionality they need as an organization while providing their sophisticated investors and owners with timely and accurate data.