Enterprising Hospitality
Date PublishedDec 11, 2014

Whether you’re a hotel owner, general manager, end-user or are simply new to back-office hotel accounting platforms, it’s likely you are already aware of how much M3’s AccKnowledge® accounting platform can help you become more efficient at hospitality.

But what if there were a way to extend the system’s current functionality beyond how you currently use it, all while maintaining the look, feel and basic functionality you’ve come to expect and grown accustomed to?

This is exactly where M3 is heading with the upcoming release of AccKnowledge® version 3.0.

Why is M3 revamping its current platform and not simply expanding its current offering?

Even though the technology upon which AccKnowledge® 2.0 was designed is certainly a standards-based platform and is robust enough to handle today’s most complicated hotel accounting needs, M3’s Customer Advisory Board, Executive Team and Information Technology division are committed to looking down the road at how technology will evolve over the next five years and beyond. With this vision in mind, it’s important for M3 to seriously consider those newer technologies – many of which have been deployed at well-known companies worldwide – that not only make existing and newer business processes more efficient, but also allow us to push future enhancements to users much more effectively.

How will my service from M3 change?

This is the great part – even with a refreshed product interface, M3 intends to make sure that AccKnowledge® 3.0 respects the ways by which you conduct today’s day-to-day business, so our customers are minimally impacted by the addition of newer functionality. Many of the planned features for AccKnowledge® 3.0 will simply be intuitive extensions that build upon how transactions are processed today – while other brand new features will be experienced for the first time when you log in to the updated system.

So, what can I expect out of AccKnowledge®3.0?

While we will enhance the platform continuously, just as we have done with the existing AccKnowledge 2.0® tool, M3 is excited to bring our users an array of new and improved day-one enhancements, including:

  • Allowing centrally-managed inter-company receivables and invoicing
  • Expanded Document Imaging beyond digital AP into several other modules
  • Enabling financial currency conversion
  • Introducing multi-language and “regionalized” functionality for international customers
  • Scheduling automated delivery of email reports

How will my hotel management company be able to change to AccKnowledge®3.0 when it is released?

M3 is as excited as our users to bring this new technology to market as expeditiously as possible. As such, rest assured that M3’s Client Services, Customer and Technical Support teams will always be available to answer detailed questions about the process and provide guidance as to expectations for transitioning to the new platform when the roll-out begins.

For those who may be new M3 customers, if your set-up, training and property conversion is scheduled to occur Q2 2015 or beyond, AccKnowledge® 3.0 will be the platform that your team will be trained on and will be implemented throughout your portfolio. Your M3 Regional Vice President of Sales can provide you, as a new customer, more information with regards to timing.

Where does M3 expect to take their flagship product?

As the question suggests, AccKnowledge® really is one of M3’s principal products, an accounting platform that has enabled our users to confidently manage billions of dollars in transactions for over fifteen years. With the introduction of AccKnowledge® 3.0, M3 will continue to work closely with our users to refine, extend and build out the product with current and new services that will eventually reach a worldwide footprint.

Remember that the AccKnowledge® accounting platform is but one product out of M3’s portfolio of services available at our user’s disposal. Along with our business intelligence platform and analytics dashboard, M3Link® and cutting-edge labor and payroll management tools RightTime®, RightPay and RightPeople, AccKnowledge® 3.0 will continue to leverage our users’ accounting data to provide a comprehensive picture of their hotel operations, revenues and expenses.

In short, there really has been no better time to be an AccKnowledge® user! With AccKnowledge® 3.0, M3 will push the private-cloud-hosted hotel specific accounting platform it pioneered a decade-and-a-half ago beyond its current best-in-class functionality to take advantage of better cost savings and extended benefits for hoteliers looking to streamline their business, run their operations more efficiently and minimize overhead.