HEI streamlines financial processes with Oracle ERP

About HEI Hotels

HEI Hotels & Resorts, headquartered in Norwalk, Connecticut. They are a hospitality owner and operator of over 70 well-known upscale and luxury hotels. They are present in 23 states across the US. Some of the brand names managed by them are Marriott, Renaissance, Westin, Le Meridien, Sheraton, “W”, Hilton, Embassy Suites, Doubletree, Hyatt, and Crowne Plaza. They began as a small hotel investment and management company in the late 1980’s. Today, they employ over 5000+ employees. HEI has evolved into an industry-recognized and highly-respected owner managing a $12 billion portfolio. They are one of the world’s leading upscale, luxury, and premium select-serve hotel brands.

Challenges

They had to invest a lot of manpower to execute various processes, given the number of properties they owned and managed across the country, without any centralized system in place.
Using, tracking, and managing multiple Excel sheets was becoming increasingly difficult. This impacted negatively on their budget planning and bank statement reconciliations.
They wanted to establish a new property bookkeeping system to help them plan and manage budget consolidation of their various hotel group branches.
Simplify the existing complex process flow, along with increased data security.
They needed to enable self-service procurement cycle with adequate financial and statutory reporting systems in place.
They were looking to integrate multiple POS systems with the ability to capture statistical information with dollar values in AP invoices.
They did not have any data normalization across all their properties. This led to different properties maintaining different data standards with a cumbersome COA structure that lacked scalability to meet diverse business needs.

Solutions

Evosys helped HEI to design and implement a single integrated solution with Oracle Cloud solutions. We were able to integrate all their daily income journal solutions using industry-specific best practices.
We provided a user-friendly Oracle ERP Cloud system with a customized bank statement upload solution ensuring an easier, faster, and efficient financial system.

Benefits

Plug-and-play integration build for multiple POS such as Micros, Opera and Fosse made it possible to have a simplified cash overview process. It also helped with analysis of revenue and cost for each service provided.
Established a catalogue-based procurement cycle (Punch Outs).
With the new Oracle ERP Cloud system in place, it was easy and secured to conduct an end-to-end tracking of expense reimbursements.
Oracle ERP Cloud system was customized and automated to generate auto-bank reconciliations; reports on revenue per available room (REVPAR), average daily rate (ADR), flow through which is operating profit % for additional revenue earned compared to budget; and tracking of fixed assets specific to location.
We built a customized interactive dashboard for budget vs actual analysis. They were also able to have a real-time financial statement generation.

Why HEI Hotels chose Evosys?

Evosys strong reference base and our comprehensive hospitality industry knowledge and experience helped us partner with the HEI Hotels. Moreover, our global experience and credentials in the Oracle Cloud, our teamwork and transparency with the Oracle sales rep market provided a safe pair of hands for the HEI. We ensured that the investment they made was shown through the key metrics that they tracked. We provided them with a complete solution with a best-in-class security.