Alushta Hotel automated financial accounting with BIT.Finance

2022: Introduction of BIT.Finance for Park Hotel Cash Flow Management

On June 30, 2022, the Nizhny Novgorod office of First Bit announced that it had adapted BIT.Finance Management Accounting and 1C: Accounting for a hotel complex located in Alushta. The system solves the tasks of the treasury, budgeting, management and regulated accounting.

Source: hotel-portomare.com

According to the results of implementation, the receipt of regulated reporting accelerated by 30%, and management - by 50%. Operating and administrative expenses fell by half, and the labor costs of employees - by 30%.

Applications for the use of funds are submitted through 1C and are agreed directly in the same place, without transfer to another system (previously Bitrix 24 was used for this). Different reconciliation schemes are provided for different operations. The system also allows you to track whether spending fits into a planned budget.

Planning and multi-level budgeting also take place in a single system. Debt control, payment calendar, planning and budget analysis plan are automated. Data from operating budgets is transferred to functional ones automatically.

Analytical tools have appeared that allow you to study plan and actual data. Reports are generated in a few seconds - before their preparation in Excel took 3-5 working days spent.

"We managed to achieve the goals that we set: the planning and control processes of various budgets have become transparent, accessible and understandable to any manager. Management reports are formed promptly, which makes it possible to build forecasts on reliable data. We are pleased with the results of the joint project and plan to further develop the system, " says Elena Pavlyuchkova, CFO of PORTO MARE

Before the project, management analysis and financial planning were carried out in Excel. Data collection took a lot of effort and time from employees due to the large number of operations (150-300 per day) and the fragmentation of management systems.

Also added to the difficulties was the lack of a digital treasury system so that applications for money spending could be quickly sent and approved.

The main difficulty in organizing regulated accounting was multicanality, the park hotel includes several legal entities. Specialists carefully transferred the accounting logic of each legal entity to the combined software complex, and also unified all directories and nomenclature.

The company plans to automate the work with contracts and procurement in the future.