hvw-innisfree-hotels

Innisfree Hotels saves $1M annually with a finance and HR system from Workday.

A unified cloud solution, new data model, and better processes set this hotel company up for the future.

$1M

gross annual benefit

5-day

reduction in time for financial monthly close

3x

faster on-boarding of newly acquired assets

Challenges.

Innisfree Hotels recognized the need to modernize their finance and HR systems to deliver business agility and facilitate growth of their portfolio. They then launched a digital transformation and phased deployment of Workday enterprise cloud applications to support their business strategy and goals, including hyper-focus on acquisitions of new hotel properties.

Results.

Since deployment, Innisfree Hotels has used Workday across the business to deliver more efficient and effective services. Significantly improved functional capabilities have generated both strategic and operational benefits, including a $1 million gross annual savings.

Consolidating to one cloud solution.

Innisfree Hotels consolidated a disjointed network of systems and applications into one cloud solution that is configured for efficiency and optimization.

A new data model for faster reports.

To make finance more transparent, Innisfree Hotels restructured the data model for reporting and generating automatic accounting. Users can make faster decisions with fewer manual journals, quicker invoice processing, rapid reconciliation and performance closures, and simpler financial and management reporting.

Better people processes.

Improved automation and self-service functionality boost Innisfree Hotels' HR efficiency and drive internal adoption. Digital onboarding and shortened merit planning, payroll, and open enrollment cycles increase morale. Fast payouts of bonuses and performance incentives are a welcome change. And on-demand access to reports on topics like compensation equity and tax credits have made the HR team more credible and strategic.

Planning for the future.

To make business decisions faster, Innisfree Hotels deployed a unified planning program. This not only reduces the time it takes to complete financial forecasts and their annual budget but also enables monthly reforecasting and scenario planning. Additionally, this facilitates ease of financial modeling for new development and acquisitions, ultimately positioning the business for sustainable growth.

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