Luxury hotel replaces paper checks with Edenred Pay's Payment Automation Platform and discovers new efficiencies and revenue.
LaPlaya Beach & Golf Resort is a luxurious beachfront destination in Naples, Florida. Ranked among the world’s best hotels, one of the things that was not modernized was the back office accounting department.
“We were still relying on paper checks for most of our payments,” recalls Kimberly Michaux, Assistant Controller. “We spent hours every month trying to reconcile outstanding checks and tracking down lost payments, which all resulted in payment delays to our vendors.”
Learning that Edenred Pay’s Payment Automation Platform would not only help them eliminate paper checks, but also earn a rebate on their payables piqued Michaux‘s interest. “I remember thinking it sounded too good to be true, but after thorough research, we were willing to give it a try.”
She was initially concerned about the functionality of the new system, and the learning curve that would be required. Michaux admits that the implementation was not entirely seamless. “We had some initial glitches that required some extra customization between our systems, but the true testament to a company’s integrity is how they handle situations when not everything is perfect.”
“We had a really great implementation team with Edenred Pay. They are innovative and push for efficiency. Edenred Pay was outstanding and over time, they even partnered with other system providers, which helped us to further streamline the process.”
Transitioning to Edenred Pay freed up time and allowed Michaux to concentrate on additional projects rather than continuously tracking down payments.
“Our payments are made on time, I have complete visibility over them, and we also have a nice financial gain with the rebate. Accounting now has a revenue stream, which has been a very nice addition to our hotel’s bottom-line.”
What would she say to other financial executives who are considering the move to Edenred Pay’s Payment Automation Platform?
“There is nothing to lose. Once you’re up and running, the system is great. The rebates are now an expected part of our monthly and annual revenue projections and our account team at Edenred Pay is always looking for ways to help us increase our rebate potential.”