How InterMountain Management Controlled Costs and Made Smarter Alcohol Purchases with Fintech
Results by the Numbers
How Fintech Helped InterMountain Management
As InterMountain Management continues to grow, it’s extremely important to ensure that the business and brand portfolio are protected. For this reason, they searched for a system that could establish safeguards to help get complete control of margin performance, bottom-line profits, and the customer experience. In many of their hotel properties, the bar, and alcohol to accompany in-room dining are key contributors to both profit and the overall guest experience. But, the visibility necessary to control costs and effectively manage purchases was lacking. With alcohol payment regulations differing across all 50 states and each hotel property operating a unique beverage alcohol program, monitoring on-time payments to ensure the security of their liquor licenses and integrity of their hotel brands was becoming a challenge. With alcohol-serving properties continuously being added to their portfolio, additional controls were needed to ensure they were receiving accurate pricing from their distributors across the country, and that their food and beverage departments were ordering efficiently for margin protection. After struggling through cumbersome and repetitive manual operations, InterMountain Management turned to Fintech.
The Fintech Solution
InterMountain Management implemented Fintech’s PaymentSource in 2017, which immediately resolved their issues with payments, compliance, and visibility. This allowed them to more effectively control costs and purchase alcohol smarter. The electronic payments facilitated by PaymentSource have streamlined the delivery process, ensuring that all alcohol invoices are paid automatically on the due date listed for each. By automating the payment process and integrating with InterMountain’s accounting system, M3, location level employees are given more time to focus on guest relations. The accounting team can have confidence that compliance is being met across all locations, no matter the individual state’s regulatory laws. Additionally, InterMountain has gained 24-hour online access to their alcohol invoices through the Fintech Management Suite (FMS™), where they can view invoices broken down by line item, and even track and request credits. Fintech also provides clear, actionable data through personalized reports, highlighting both distributor price discrepancies and ordering deficiencies. With this information, InterMountain’s accounting teams have been able to proactively communicate ordering improvement opportunities to location management, allowing them to more effectively control costs and improve margin accuracy. By partnering with Fintech, InterMountain Management, LLC has gained the resources needed to enhance their daily processes, and reallocate important focus on creating a unique guest experience.
What Our Partners Say
“Fintech’s centralized platform provides easy access to every component of our beverage alcohol business, from invoicing to inventory management, which has been extremely helpful in our mission to eliminate added research and save time during our busy days. They offer continued customer support and provide helpful information whenever needed. We highly recommend using Fintech”
Tobias DeCremer, General Manager, Fairfield Inn & Suites by Marriott Kissimmee/Celebration, Florida, an InterMountain Management Property
For over 35 years, InterMountain Management, LLC, whose portfolio includes top national hotel brands such as Hilton, Marriott, Hyatt, Holiday Inn, and Hampton Inn & Suites, has specialized in select-service and extended stay experiences. Their dedication to success is proven through their steadfast growth in hotel ownership, development, and management initiatives. Today, they are one of North America’s largest and fastest growing management companies, operating over 75 premium hotel properties nationwide and adding another 20 locations to their family of hotels in the near future. Fintech is proud to call InterMountain Management a client and a partner. Visit their website at www.immhotels.com for a complete listing of all their nationwide locations.