3 Ways Leading Hotels & Restaurants Are Scaling Financial Ops
Q3 is just around the corner, and the pressure to stay audit-ready is growing more critical for back-office teams.
With 45% of finance leaders reporting that manual processes slow them down, it’s clear that not only are these outdated methods creating blind spots in their operations, but they’re also making it harder for teams to scale efficiently. As growth targets rise, relying on manual processes puts your finance team at a greater risk of costly errors, compliance failures, and missed opportunities for scaling financial ops.
Top-performing teams understand that staying ahead means adopting strategic solutions that scale seamlessly, without burdening their teams or eroding profits. While some risk is inevitable, scaling too fast can cause critical details to slip through the cracks, even if only briefly. By building growth around automation, these teams proactively minimize those risks and keep operations running smoothly.
The best teams aren’t using spreadsheets; they’re using automation, integrated systems, and real-time visibility to mitigate risk, ensure compliance, and streamline operations.
Here’s how they’re doing it, and how your team can avoid the hidden dangers of staying manual, all while scaling your financials ops.
1. Automating Daily Reconciliation to Eliminate Manual Bottlenecks
Top finance teams are moving beyond Excel, and for good reason. Whether you’re reconciling at the batch level, the detail level, or using partial automation, discrepancies often slip through, leading to costly write-offs.
Manual reconciliation isn’t just time-consuming; it introduces costly data discrepancies, slows down operations, and limits a finance team’s ability to scale. That’s why automation is quickly becoming the go-to strategy. By reducing reconciliation time by up to 92%, automation empowers finance teams to grow efficiently while staying agile and compliant.
With Total Recon’s 99% auto-match accuracy and 75% error reduction, teams no longer need to spend hours manually checking figures. Instead, they can scale their operations with confidence.
2. Integrating Systems for Real-Time Financial Visibility
Multi-step reconciliation occurs when financial data from multiple systems, like POS, PMS, payroll, and payment processors, needs to be cross-referenced to ensure accuracy and integrity. Trying to manage this manually isn’t just tedious; it can eat up hours of your back-office team’s time each week and increase the risk of costly errors.
That’s why leading businesses are turning to financial reconciliation tools that integrate all financial data into a single, unified platform. Instead of juggling disconnected systems, finance teams get a comprehensive, real-time view of performance across all platforms. Data securely integrates between systems, eliminating the need for multiple reports and reducing the risk of scattered financial information. This enables smarter decisions, faster closes, and easier audits.
3. Standardizing Processes Across Locations
Leading hospitality brands are implementing centralized financial reconciliation tools that consolidate financial data across properties for automation and single shared service center (SSC). This approach standardizes processes, eliminates silos, and gives finance teams and executives real-time visibility into every transaction, no matter how granular.
By unifying reconciliation workflows across locations, teams spend less time onboarding new staff, reduce human error, and ensure every transaction is accurately reconciled across the portfolio. The result? Faster closes, stronger compliance, and the ability to grow without growing headcount.
Visibility. Automation. Control. The Finance Stack That Scales
Automation, integration, and standardization are essential for scaling financial operations. These strategies minimize errors, improve visibility, and optimize labor costs. Leading hotels are already adopting these practices, so why wait? To scale effectively, you need a solution that can keep up.
Evention’s Total Recon addresses the critical need for automation with real-time financial visibility and seamless integration across systems. Without it, manual processes lead to costly errors and compliance risks that only grow as transactions increase.
As a SOC2-certified solution, Total Recon allows your team to focus on critical exceptions, eliminating bottlenecks and ensuring audit readiness, so you can scale with confidence and protect your bottom line.
Not sure if your finance ops are built to scale? Take our 5-minute quiz to find out where your process stands, and uncover the hidden risks holding you back.
