Lexington, Ky.-based hotel management company Rainmaker Hospitality has moved its portfolio of 18 hotels onto the Hotel Investor Apps platform. HIA is a cloud enterprise resource planning platform specialized for the hotel industry.
“We want to be as efficient as possible,” said Prakash Maggan, CFO at Rainmaker. “HIA is helping us do that.”
Hotel Investor Apps ERP and accounting software combines financial management, business intelligence, budgeting and work-flow software all targeted for the hospitality industry. Charlie Fritsch, CEO of Hotel Investor Apps, said the technology “gives any size company all the advanced functionality and intelligence that was previously priced out of reach for many companies.” Hotel Investor Apps is built on ERP software Acumatica. The technology offers efficiency to close monthly books faster and with fewer errors.
Rainmaker made the switch to Hotel Investor Apps seeking updated technology and a rapid pace of change. Maggan praised the time savings: “The speed is better with HIA. Any information I want to pull from multiple companies, I can do it very quickly. I can refresh reports without exiting and rerunning. I can open many tabs and make a change and see that change immediately in a report.”
Rainmaker takes full advantage of recurring transactions. “It is very easy to set up and save time,” Maggan said. “Once I set a recurring expense on a schedule, it runs, literally, like clockwork. I don’t need to worry about it. I don’t need to do anything. But it is also easy to modify.”
Fritsch stressed the importance of redirecting staff time from repetitive or mundane tasks toward business growth such as benchmarking expenses or planning budgets. “HIA’s automated features alleviate some of the burden on management staff at every level, by saving time for the CEO and CFO down to the junior accountant or general manager,” he said. “Especially at this time, when hotels and hotel companies are running with bare-bones staff, it is essential to be proactive in managing time usage. Another advantage during this challenging time is the easy access to your financial and operational data and the built-in dashboards, reports and analysis. Because every company wants an advantage when it comes to planning and decision making.”