Concord Hospitality Enterprises, a large hotel management company located in Raleigh, NC, selected LaserVault’s DMS Document Management Solution with Workflow to help them deal with the challenges involved in managing and storing hundreds of paper documents per day.
Today, Concord provides management services for over 90 hotels and 13,000 guestrooms and suites throughout the US and Canada, and has combined annual revenues of approximately $400 million. As the company has grown, the amount of paper, including accounts payable invoices, W-9’s, contracts, etc., and the amount of time and personnel needed to manage it, have also grown.
LaserVault DMS (LVDMS), from Electronic Storage Corporation, is a web-based document imaging software solution that allows documents to be scanned, indexed, stored and retrieved with the touch of a single key. Companies choosing LVDMS for their document management system get a complete workflow application with it, along with full text and zone OCR, unlimited users, interface with scanning, editing, reports, form designers, structured searches, full text searches, user permissions and security.
At Concord, LVDMS with Workflow has transformed the business processes in their Development and Accounting Departments. The Development Department relies heavily on the Capex (Capital Expenditures) workflow as it removes a lot of manual steps, allows regional VPs, owners, and the Capex team, to approve, deny, or delay spending money based on the type of expenditure, where the item is in the workflow, etc. This workflow automates 90% of the work involved so the process runs a lot better than it did when it was being run manually.
The Accounting Department relies on the Utility workflow to automate the process of forwarding information to third party Utility monitoring vendor. When this process was run manually, it was often forgotten, and never done reliably, however, the workflow never misses any invoices and gets them to the right place every time.
Each of these workflows allows Concord to remove manual processes (saving cost of labor and removing the possibility of human error) and automates the processes so they work the same way every time.
LVDMS has enabled Concord to leverage the LaserVault technology to eliminate a significant amount of paper documents, while giving them instant access to the information the documents contained. In addition to being able to automate several processes, they have realized savings in reducing the amount of space needed to store the paper documents, and have been able to reduce labor costs and improve their overall efficiencies.