Improving the operational efficiency of a hospitality client with unique business requirements
The client is a uniquely integrated hospitality and asset management platform covering the entire investment lifecycle. The client offers a full range of real estate advisory services in an integrated platform that enables investors to access real estate opportunities efficiently and effectively. They have a dedicated hotel management platform allowing investors to benefit from international brands through franchise relationships. The team covers all major real estate classes, focusing on hotels and hospitality management.
Countries
Increase in entities handled by SBS
Increase in FTE engaged
The Challenge
The unique nature of the client business
➤ Multiple lines of business: Capital Management, Investment, Investment and Design, Asset Management, Hospital Management – Each entity has its nuance requiring a dedicated finance team, causing a delay in the consolidation of accounts.
➤ Hospitality Management: The client is hotel aggregator and requires a centralised set-up to support its operations to provide greater visibility and transparency to the management.
➤ Needed a scalable partner to support its rapid growth trajectory.
➤ Shortage of skilled resources leading to staffing challenges.
The approach
Streamlining for business transformation
Remotely transitioned the processes with all knowledge transfer done virtually.
➤ Speed to competency : New to outsourcing, the client first outsourced the receivables process (AR) in their hospitality business and then quickly moved on to outsourcing the payables process (AP) and end of the month activities (EOM). Due to our prior experience in Hospitality back office support (for an upscale five-star property), our resources jumpstarted the process in record time.
➤ Encouraged by the quality of work, the client transitioned the AP/AR and EOM activities of their joint venture company.
➤ Currently transitioning the Corporate Accounts of the rest of the entities.
➤ Expertise in multiple property management software to enable a seamless handover.
The impact
Seamless business transformation
➤ SBS was able to handle all the back-office activities.
➤ The individual SPOCs for each process were reallocated to more value-added work to contribute to their rapid growth phase.
➤ A truly bespoke model of outsourcing where the Sundaram team began with 1FTE and moved to 21 in 15 months.
➤ We started with 7 properties and now handle 24 properties in addition to the corporate accounts of the entire entity, and are positioned to grow further in the coming months.
➤ Ability to cater to the individual nuances and reporting structures of each property.
➤ Sundaram is considered their reliable extended office with trained resources to match their growth appetite.
