GWINNETT, Ga., Dec. 11, 2018 /PRNewswire/ -- M3, the
leading cloud-based financial platform for the hospitality
industry, is marking its 20th anniversary with new milestones and
continued momentum for 2019 and beyond. Used by over half of the
top hotel companies in the U.S., M3 is the No. 1 accounting
solution for hoteliers, serving 12,000 users at more than 5,500
hotels around the world.
"From the largest hospitality brands to boutique hotel
properties, every aspect of M3 has been carefully designed,
developed and deployed to make a hotelier's life easier since day
one," said John McKibbon, CEO of M3.
"Over the next 20 years, we will continue to transform the industry
with new solutions that drive financial performance for hotels
across the globe."
A History of Innovation
Decades ago,
John McKibbon had a vision to move
the hotel industry into the digital age. Combining his experience
in hotel accounting with computer programming, McKibbon developed
M3's first hotel accounting system in 1985. With the advent of the
Internet, M3 became industry pioneers by utilizing cloud computing
and launched its Accounting Core product in 1998. Through
groundbreaking technological advancements and superior customer
support, M3 achieved rapid growth over the past two decades, even
during some of the most tumultuous economic cycles in recent
history. M3 diligently balances its steadfast commitment to
customer satisfaction with consistent business growth. Today, the
company boasts a customer retention rating of 98 percent and does
so without issuing contracts or agreements. Scott Watson, M3's Executive Vice President of
Sales & Marketing, attributes this amazing retention statistic
to the three pillars of M3.
"We earn our customers' business every day – we have to," said
Watson. "There are no contracts or agreements at M3 forcing
customers to stay. We have not increased the price of the
accounting solution since it was introduced in 1998. And, we always
do the right thing."
New Milestones + International Expansion
In 2018, M3 experienced unprecedented historical growth. To meet
the demands of the company's growing teams, M3 opened new offices
in Gwinnett, Ga., and Tampa, Fla.
"Our new offices embody M3's commitment to relentless
innovation," Allen Read, president
and partner of M3. "The new spaces better enable us to answer
the ever-changing needs of the hospitality industry while providing
our teams with a collaborative work environment to attract new
talent from Atlanta and
Tampa's growing tech sectors."
Earlier this year, the tech pioneer welcomed its 5,000th
property to adopt Accounting Core, M3's entry-point solution and
the most powerful and widely used hotel-specific accounting
software.
This year M3 also welcomed its first hotel group outside of the
U.S. through a special partnership with Scotland-based French Duncan. Unlike other
solutions in the European market, M3 offers automated mapping of
PMS data to daily reports as well as easily consolidated financials
and actionable, real-time insights via mobile device which allows
hoteliers and management companies to make informed decisions on
the fly – from anywhere in the world. M3 also expanded to the north
by welcoming Genesis Hospitality. Genesis is based in Brandon, Manitoba, Canada, and is M3's first
multi-property portfolio that is Canadian-owned, headquartered and
operated.
Customer-Centric Focus
M3 reinvests more than
25 percent of its revenue back into its technology and is currently
rolling out several new solutions for its users. Built by
hoteliers, exclusively for hoteliers, M3 continues its investment
in its customers. "Reinvesting in the success of our customers is
paramount," said Casi Johnson, M3's
Chief Operations Officer and Innovations Leader. "Our development
strategy is simply to make our customers' lives easier by giving
them what they want and staying one-step ahead of their needs."
According to Johnson, M3 has several key products that will be
released in the coming months:
M3's 20th anniversary is also marked by the
introduction of its new Business Intelligence Platform,
which features user-driven, interactive dashboards, mobile
compatibility, ad hoc reporting and robust analytics – all designed
from the perspective of the end user, whether that be an operator,
owner or asset manager. From single-location properties to entire
hotel portfolios, the platform will deliver a powerful and
intuitive user experience and will provide actionable data in real
time. M3's new deliverable, Insight, is a cutting-edge
solution that will take hotel data and analytical reporting into
the next decade and beyond.
The company's Intelligent Imaging Platform is designed to
streamline data entry and improve workflows. For years, M3's
Accounting Core platform has had the capability to imbed digital
images into the system for easy retrieval from within financial
statements and other modules. This has eliminated the need for
their customers to mail invoices and store hard-copy documents. The
addition of Intelligent Imaging removes much of the manual process
of data input as invoice data will be scanned, apportioned and
stored via Optical Character Recognition (OCR) when the document is
scanned.
M3 will soon debut its new API-accessible Data Warehouse,
which is optimized to store and combine data in a meaningful way so
that hoteliers can make better decisions related to balance sheets,
occupancy rates and asset performance. Using reliable APIs, the new
data storage system will seamlessly integrate with third-party
vendors to transport data quickly from one point to another,
removing the need for manual transport.
Editor's Note: For a high-resolution images and
logos, visit https://bit.ly/2zs5nR3.
To learn more about M3 or to request a demo, visit
www.m3as.com.
About M3
Built by hoteliers, exclusively for
hoteliers, M3 is a powerful cloud-based financial platform and
services company serving the hospitality industry that drives cost
savings, revenue enhancement and business insight. Nearing 20 years
in business without increasing prices, M3 touts a 98 percent
customer retention rate without contracts. Used by management
groups and hotels of all sizes, the platform works seamlessly with
other key systems and tools in the hospitality industry and offers
robust accounting and financial analysis across entire portfolios
with optional operations and time management features. M3's
professional services team provides on-demand support for hotels of
any size by offering a full range of customized accounting
solutions to scale with a hotel's needs. Privately held and
employee owned, M3 also includes a proprietary hotel benchmarking
index that combines data from more than 3,500 properties into a
single accessible data set to compare hotels. For more information,
visit www.m3as.com.
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