M3 Accounting + Analytics, provider of cloud-based hotel-specific accounting software, operations reporting and business analytics, recently onboarded the 4,000th active property onto its accounting platform, AccKnowledge®, making the Gainesville, Georgia based company the largest known provider of hospitality-specific accounting software.
M3’s product family includes not only a hotel accounting platform that incorporates document imaging and automatic import of PMS data to minimize manual entry, but also a business intelligence and analytics solution, M3 Link®, and a tablet-deployed punch-capture and labor management tool, M3 RightTime®. These products can be used together or separately, according to the needs of the customer, offering a high degree of flexibility in back-office management. To date, over 750 hotel management companies in North America are using one or more of M3’s products with over 12,000 individual users logging in on a daily basis and processing over $17 billion in payables annually. With a 98% retention rate, many customers have been with M3 for 15 years or more. And, since M3 does not issue agreements, these customers stay with M3 by choice—not because they are bound by contract.
“We started with M3 in 2003, before people really knew what cloud computing was, but we saw M3 as a means of eliminating the need for high expenditures with regard to IT and having regular upgrades available to us,” explained Randy Meyer, CFO/Principal of The Hotel Group. “The integrity and the people that are M3 are really what the company is all about, and makes the investment worthwhile.”
Moving forward into 2016, M3 is slated to welcome new customers with portfolios of over 100 hotels. While the system is robust and feature-rich enough to attract the largest hotel management companies in the nation, M3’s smallest customer is a 22-room owner/operated hotel. AccKnowledge® is a private, cloud-based application that can be accessed anywhere, any time, giving hoteliers with portfolios of all sizes the flexibility they need to run their properties efficiently.
“This is an exciting time for us at M3 and it’s an exciting time for our customers,” said Scott Watson, Executive Vice President of Sales and Marketing for M3. “Our platform is based on our customers’ needs and direct feedback, and the upgrades you’ll see into 2016 are the result of a high degree of collaboration with M3 power users to improve upon the best features of an already great product.”
M3 Accounting + Analytics also gives back to the hospitality industry through offering learning opportunities for up and coming hoteliers. Through a partnership with the University of South Florida Sarasota-Manatee’s College of Hospitality and Technology Leadership, more than 20 universities across the country have free access to M3’s AccKnowledge® software, allowing hospitality management faculty to integrate the platform into hotel financial curriculum and giving students a firsthand look at tools they will utilize upon entry into the industry.