Insights

How to Create a Single Source of Truth for Your Casino

 

How to Create a Single Source of Truth for Your Casino

Many casinos rely on a collection of software solutions to help manage a variety of departmental operations and varying data sets. For example, it’s common to have different systems used for payroll, point of sale, vendor punchout procurement, slot performance analytics and finally player management. Or, decades ago, they made a seven-figure spend on an all-in-one “enterprise level” solution that came with a suite of offerings.

As technology has advanced and best-of-breed solutions are dominating the market, these properties are facing one of two challenges. First is that a “one size fits none” system isn’t serving their growth or ever-changing needs, and the expense of having solution-specific IT professionals has become a financial and resource drain.

The second situation is that their GL platform is not sophisticated enough to digest the data from all of the front-of-the-house solutions beyond a summary level. Furthermore, the workarounds that are required to collect basic data undermine compliance, and so maintaining data integrity becomes a real challenge. As a result, reports are stale by the time they are published, and there is zero deep-level insight backing the data delivered via the daily flash.  

In both cases, when it’s time to pull financial insights together, gaming organizations are unable to come to a single source of truth, either due to their disparate systems or the use of an unreliable, outdated on-premise solutions that are not gathering the necessary transaction-level detail to support a clean and quick audit.

The lesson here is that no one solution can do everything well, and no on-premise software suite has been able to keep pace with the necessary investments and advancements available in today’s cloud environment. This is an environment filled with other best-in-class cloud systems that are ever-advancing across all user consoles simultaneously, always supporting growth through innovation and continually enhanced with new functionalities to benefit users. The result is the ability to be audit-ready and compliant-confident at all times, while meeting NIGC requirements.

Integration: Easy Does It Best

The smartest move for casinos is to adopt an integrated accounting software solution — one built on a web-services platform with an open application programming interface (API). Essentially, that means using a best-in-class accounting solution with the ability to “communicate” with other best-in-class business systems for easy integration that doesn’t require an IT professional to constantly resolve bugs.

CasinoEdge powered by Sage Intacct and designed by the gaming professionals at Wipfli, is intentionally built to support ongoing integrations with new business systems without resulting in disjointed solutions.

CasinoEdge can integrate seamlessly with the business systems a casino already has in place — bringing in the largest amount of data required, including anything and everything from player-management systems, food and beverage solutions, inventory solutions, purchasing systems and vendor punchout list systems. It can also easily integrate with new applications the gaming enterprise might want to add in the future. That gives gaming organizations the absolute freedom to choose new business systems based solely on delivering specific vertical functionality and not on a system’s ability to integrate with their accounting software.

And the choices for preconfigured systems with prebuilt integrations are many and growing. Many other open API solutions are also widely available, and the pressure on all older systems to move to an easy-to-integrate framework is a tidal wave that will continue to crest.

Goodbye Disparate Systems, Hello Assurance

Gaming organizations that use integrated, best-in-class systems are assured that their systems are always invested in and up to date. Through integration, they can collect as much data as possible from all areas across the business that manage data, and get the business intelligence and insights they need to grow.

More importantly, however, the organization gains one single source of truth, reducing errors and eliminating risks. And that means always having audit-ready financials, maintaining compliance, avoiding fines and holding up NIGC scrutiny.

For a self-guided tour to learn more about CasinoEdge, powered by Sage Intacct, and how it can benefit your casino, visit our CasinoEdge page or contact us today.

Author(s)

Bacon_April
April D. Bacon
Senior Consultant
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Winkler_Jason
Jason Winkler
Senior Manager, Business Development and Solution Marketing
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