Glory and Evention are delighted to bring our technology solution to Saudi Arabia. It has been adopted by finance teams in leading hotel brands worldwide, to transform and streamline their financial operations.
Problem
Evention understands that managing a hotel comes with unique challenges for the hotel industry. Operating 24/7 with multiple points of sale within the hotel, involves many resources to manage your cast, payments, reconciliation, and reporting. The hunt for a proven solution that would increase productivity and reduce costs associated with cast and payment processes was needed. Together, Glory and Evention accelerated their processes with security and simplicity.
Solution
With Evention’s technology and intelligence, the impact was immediate. Hotels wanted a solution that delivers an immediate return on investment. Glory’s cash recyclers with Evention’s Cash Recon are paired to make the accounting reconciliation process intelligent, compliant, and secure. Glory hardware secures your cash payments in the front of house, creates a contactless cash transaction, eliminates human error, and integrates with your POS to streamline payment reports. Evention Cash Recon software reimagines cash management by automatically reconciling the cash recycler to the POS and PMS while also integrating it into the General Ledger. The traditional reconciliation process, which relies heavily on spreadsheets and manual processes, is replaced with robust and immediate automation.
Results
The results were clear and beneficial for hospitality business. Evention’s solutions increased the productivity of staff and reduced costs associated with manual cash and payment processing. With contactless cash payments, Evention’s technology brought forth intelligence and analytics to cash reconciliation for increased cash accountability, reduced shrinkage, mitigating fraud, and enhanced compliance. Cashier’s cash handling time was reduced by 50% which in turn reduced financial reporting time by 75%. Additionally, hotel cash float was also reduced by up to 38% leading to improved internal controls and happier staff.