Crescent Hotels & Resorts

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.

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.

Overcoming Obstacles

Crescent Hotels & Resorts’ long-term goal with the M3 platform is to achieve unprecedented efficiency and operational excellence. They envision showcasing significant cost savings, accelerated closing processes, and enhanced productivity, demonstrating tangible improvements in their operations. Central to the company’s objectives is the aspiration to have best-in-class reporting capabilities and a robust system that meets the evolving needs of the hospitality industry. Crescent trusts M3 to remain at the forefront, continuously innovating to streamline processes and empower the company to stay ahead of the curve. Ultimately, they aim to leverage the M3 platform as a cornerstone of their success, driving efficiency, effectiveness, and overall satisfaction for their organization and stakeholders.

The Process

M3 continuously met the expectations of the Crescent Centralized Accounting Team for efficient accounting software and a seamless transition using the new software with M3’s training and implementation team. The support team has been attentive to the customer’s needs, and Scott mentions, “The support we’ve received has consistently been outstanding. We’ve appreciated the reliability, promptness, and effectiveness of M3’s technical support, while the implementation team has been exemplary in their assistance. Overall, we aimed to cultivate a responsive partnership. Having a liaison well-versed in the intricacies of the hospitality sector is paramount, given the significant emphasis placed on overall communication.” The implementation process has presented challenges in some areas when synchronizing different platforms with M3, but the team continues to improve processes and supports Crescent and the Centralized team in overcoming the hurdles they face.

M3 has already proven to be an efficient accounting software. Crescent and M3 have jointly navigated the inherent complexities that were expected when dealing with various systems and the necessary integrations required. Through these challenges, Crescent and the Centralized team have continuously been impressed with M3’s support team and do not have concerns in regard to M3’s software. They have appreciated M3’s support in attacking some of the existing and complex integrations.

During their journey, Crescent and the Centralized team have continuously communicated with M3 about their desired outcome and have been impressed with how much the company has listened to and implemented changes. Scott explained, “We raised a lot of questions revolving around the “how-to” processes and the M3 team was very creative and helped us come up with some initial workarounds as well as permanent solutions. I was told we could put in our vote for enhancements, M3 would prioritize among the votes to implement that in the system – and they delivered as promised.”