Yedla Management

Before implementing M3 and partnering with Corpay, Yedla Management faced several challenges in their accounting and financial processes:

1. Manual Errors: Manual data entry and management increased the likelihood of errors, affecting the accuracy of financial reporting.
2. Time-Consuming Processes: Writing and processing checks manually was time-consuming, taking significant resources away from other critical tasks.
3. Lack of Integration: Data had to be entered and managed across multiple systems, complicating financial management and reporting and contributing to data inaccuracy and delays.
4. Payment Security Concerns: Ensuring the security of financial transactions was a concern, particularly with manual processes and checks.

These challenges prompted YMC to seek a more efficient and secure solution, leading to their adoption of M3’s comprehensive hospitality-specific technology suite.

Since implementing M3’s product suite, YMC has experienced several benefits:

1. Streamlined Financial Reporting: The implementation of Accounting Core™ and Insight™ solutions has allowed YMC to automate key revenue and statistical data transfer from daily reports, facilitating accurate and timely financial reporting. Unlimited user access allows for supporting the involvement, decision making, and proactive management at the property with centralized oversight.
2. Operational Efficiency: Labor Management™ software helps YMC monitor and manage labor costs effectively, ensuring optimal staffing levels and cost control, by identifying trends, avoiding overtime, identifying productivity improvement opportunities, and more.
3. Ease of Use: The comprehensive suite allows YMC to manage all financial and labor data within a single platform, reducing the complexity of handling multiple systems, and improving overall efficiency.

Implementation and Integration of Paymerang

The decision to integrate Corpay into YMC’s existing systems was driven by the need for a secure and efficient ePay solution. YMC discovered Corpay through a meeting with M3, where best practices were shared and the benefits of M3’s Strategic Alliance partnerships were highlighted. The robust security features provided by Corpay quelled any concerns and convinced YMC’s stakeholders to proceed.

The integration process was smooth, with M3 handling the heavy lifting by sending vendor lists to Corpay and managing payment method changes within the M3 system. Kristy states, “The integration of M3 and Corpay has been super easy. The biggest benefit is saving each person [four on the team] a minimum of two hours a week not stuffing and stamping checks.” This collaboration resulted in a swift transition with all YMC properties adopting Corpay within a month.

Using Corpay is not only sustainable but also cost-effective. It reduces the need for physical payment supplies such as checks, envelopes, and postage, thereby saving both time and money while also contributing to environmental sustainability.

Partner Collaboration

The partnership between M3 and Corpay has significantly enhanced YMC’s financial operations. The key benefits observed include:

1. Time Savings: The M3 and Corpay alliance has reduced the time spent on writing and processing checks, saving approximately two hours per week per person, in addition to the hard savings on supplies and postage.
2. Improved Security: The two-step verification and other security features provided by Corpay have addressed previous concerns and ensured secure financial transactions.
3. Operational Efficiency: The integration has streamlined payment processes, allowing for better resource allocation and focus on core business activities.