Automating, customizing, and scaling with a hospitality investment company
With 14 internationally recognized hotel brands spanning over 80 properties, leading Toronto-based hotel ownership and management company InnVest Hotels is known for its diverse portfolio, which ranges from limited service to luxury hotels in every major region across Canada. Brands currently include St. Regis, Hyatt, Autograph Collection, Kimpton, Hilton, Holiday Inn, Marriott, Sheraton, Comfort Inn and more.
Since its founding in 2002, InnVest has experienced tremendous growth. InnVest began to recognize the need for more easily customizable middleware options, which its previous provider could not supply.
Working with such an immense property network, Chantal Nappert, Vice President of Finance at InnVest Hotels, also recognized the need for a financial software solution that provided a wide range of utilities tailored to the hospitality industry.
“Due to the heavy amount of customization we had to implement using our previous solution, we struggled to get what we wanted out of the system, as most updates required an in-house developer,” Nappert said. “This led to increased costs and took up large amounts of time we couldn’t afford to lose.”
Having heard about M3’s hospitality-specific solutions from an industry peer in the U.S., InnVest decided to make the switch to M3’s exclusive, cloud-based solutions in February 2019.
“Our immediate attraction to M3 was how industry specific it is,” Nappert said. “From the very first demo, we knew M3 could tailor to all of our hotels’ accounting and financial needs and allow for seamless transitions as we continue to grow.”
As a powerful financial platform used in over 6,000 hotel properties of all sizes, M3 offered Nappert the customizable solution she had been searching for. M3’s entry point ERP solution, Accounting Core, gives Nappert’s team access to robust accounting and financial analyses for all their hotels, while its business intelligence platform, Insight, offers powerful user-driven interactive dashboards, ad hoc reporting and robust analytics.
Our immediate attraction to M3 was how industry specific it is. From the very first demo, we knew M3 could tailor to all of our hotels’ accounting and financial needs and allow for seamless transitions as we continue to grow. ”
After nearly a year since switching to M3, Nappert and her team have found M3’s solutions to be much easier to work with, particularly citing the ease of use found by hotel staff across the InnVest portfolio.
“M3 is an incredibly easy system to integrate into our day-to-day operations. The interface is customized to our hoteliers’ needs, making it an intuitive and user-friendly system to work with,” Nappert said. “From a corporate level, M3 helps us make better-informed decisions and spend more time engaging with our staff and customers.”
A key feature of M3’s solutions revolves around automation, a growing trend in software-based business solutions. Having the ability to automate the onboarding process using budget forecasting modules for new properties gave Nappert’s team a major advantage. By partnering with a long-term, like-minded solution like M3, InnVest Hotels is able to increase efficiency and customize its reporting to drive its business forward with a continued commitment to excellence.