myDigitalOffice is a hoteliers’ data visualization, process automation, and performance management SaaS company. They support clients in revamping their back-office process and workflows with powerful cloud-based tools which provide efficiencies to information and document management so that they achieve greater visibility, connectivity, and control over operations.
Intricate contracts and high-volume billing across multiple entities overwhelmed manual workflows
myDigitalOffice’s clients are companies like Marriott who have complex parent-child relationships that require intricate invoices to be sent based on unique contract terms. To further compound the overhead related to managing their business, myDigitalOffice has multiple entities around the globe which layers additional dimensions to their billing, revenue recognition, and reporting. In effect, as they grow the finance team is asked to carry an increasingly heavy burden.
myDigitalOffice’s client base includes a large number of hotel owners and operators, franchisees, and property management companies, many of which required:
- Custom contracts
- Unique billing schedules
- Different products
- Multiple invoices in one statement to a parent organization
“I haven’t seen the same contract come through the door… Our contracts are all custom… some customers say they might go live January 1st with ten other properties, but then they might have another ten go live February 15th. And they want those properties billed, prorated, and then matched on the same billing schedule,” said Eric Magas, CPA, Controller at myDigitalOffice.
Managing complex order-to-revenue work streams swallowed large amounts of time error-checking billing. Basic processes for sending invoices and collecting payment became a barrier to scaling, preventing myDigitalOffice from focusing efforts on higher-level financial analysis like generating real-time insights regarding the health of their business. The team realized that their current financial processes would not be able to keep up with their growing business.
Unify multi-entity billing, revenue reporting, and revenue schedules into a single automated, scalable, and flexible system
Ordway’s billing and revenue automation platform streamlined myDigitalOffice’s order-to-revenue workflows, saving thousands of future hours of manual effort and a countless number of potential errors.
“Marriott, for example, has four hundred [hotels] under their portfolio. We bill [them] monthly and anytime a hotel comes on, say it’s in the middle of the month — at the end of the month, we’re billing it prorated. You shouldn’t have to do those calculations by hand, but now Ordway does it automatically for us. And now that you’re talking four hundred hotels, you don’t want to do all those calculations by hand,” said Magas.
myDigitalOffice’s modern finance tech stack now includes Salesforce as their CRM, QuickBooks for their accounting and general ledger, and Avalara to support collection of U.S. taxes. Previously, communication among these systems was nonexistent, which bottlenecked global expansion.
Today with out-of-the-box integrations, the Ordway billing and revenue automation platform acts as the conduit for data to flow between these systems.
The platform ingests enormous amounts of data, automatically performs the laborious and complicated financial and accounting operations, and rolls the data up into a variety of different forms. Whether the data is flowing from their Canadian entity or their U.S. entity, the Ordway platform allows for comprehensive and unified billing and revenue management.
myDigitalOffice wants to grow globally without growing a distributed finance function. A cohesive multi-entity billing and revenue automation process means that myDigitalOffice can sustain their internal processes and focus operations and investment to grow their global footprint.
Modern finance stack supports multi-entity billing
Expanding a business globally without robust sales, finance, and accounting systems is the equivalent of building a bridge without support structures. It’s fragile and will fail if there are unanticipated strains on the system. To future proof the myDigitalOffice finance stack, Ordway’s customer success team worked closely with myDigitalOffice to implement the necessary financial infrastructure to support their global expansion.
myDigitalOffice’s digital transformation project was completed in a matter of weeks, not the 6-12 months you can expect from legacy ERP and billing systems.
“Anytime we had a question whether it be regarding what kind of reporting we’re getting, how we import [our] customers, how we are dealing with two different general ledgers between U.S. and Canada, somebody was there to answer the question. And if [he or she] didn’t know, somebody else stepped in at Ordway, and it was great. Honestly, I couldn’t even see how it got done so quickly, but we’re super appreciative at MyDigitalOffice for what Ordway has done,” said Magas.
myDigitalOffice can now comfortably expand their business into different territories without worrying about the need to incur additional professional services fees or needing to invest in a legacy ERP system. Without fear of needing to replatform in a few years, the myDigitalOffice can focus on what they do best – modernizing the hospitality industry’s back offices.