Traditional accounting software used by casinos has many functional gaps. This has led to their business operations, specifically procurement and document management, becoming a source of inefficient, manual and paper-based processes. These manual workflows force gaming organizations to devote exorbitant amounts of time and resources, which leaves employees unable to focus on value-added projects and the bigger picture of the casino’s success.
Let’s dive into how forward-thinking tribal casinos are leveraging casino-specific accounting software to streamline the procurement process, move to a paperless documentation management system and enable audit-ready vendor management records.
Replacing paper with the right technology is most important. A gaming-specific accounting solution like CasinoEdge powered by Sage Intacct enables your casino to move procurement processes to a fully mobile-enabled application, empowering on-the-go convenience, which in turns leads to greater operational efficiency. CasinoEdge’s approach to a more convenient, intelligent procurement and purchasing process is three-fold:
Leverage the Mobile App for On-the-Go Purchases and Approvals
The browser-based, mobile-enabled functionality of CasinoEdge Intacct allows approver users to access the software at any time from any location and device with internet capabilities. By leveraging mobile technology throughout the entire approval process, your procurement approvers won’t create a bottleneck for operations while being offsite. They also gain mobile access to the status of all purchase transactions and related documentation. This empowers accounts payable (AP) to increase productivity and drastically reduce the amount of time for PO processing.
The accessibility of a mobile app expands operational capabilities beyond the physical walls of your casino. As a result, there is greater opportunity for your employees to be more productive and accomplish vital business operational tasks in a shorter amount of time, freeing them up for other valuable projects.
Enjoy Real-Time Accounts Payable
The browser-based smart phone functionality of CasinoEdge Intacct allows for mission-critical information to be instantaneously updated and visible in real-time, all via your department-level dashboards that deliver the data in an easy-to-understand format.
Cloud technology also brings added convenience by enabling users to view real-time reports anytime, anywhere, including all AP activities. Leveraging CasinoEdge Intacct’s point-and-click mobile functionality is as easy as using your LinkedIn or other social media apps.
Instead of wading through inefficient, paper-based procurement and AP workflows, CasinoEdge Intacct’s industry-specific design drives a tailored software experience to help gaming organizations like yours save significant amounts hours and dollars. Your software investment delivers a clear and measurable return on investment (ROI).
Strengthen Purchasing Controls With Automated Workflows
Purchase request submitters, AP clerks and leadership are all links in the procurement chain. Data is pushed from one team member to the next, which makes tracking statuses through manual entry time-consuming. Data integrity is often risky for casinos, especially given the revenue audits that gaming organizations must complete. Any mistakes could mean significant financial penalties and a damaged reputation in the industry.
By implementing the controls that automate procurement and payment workflows to the proper stakeholders through casino-specific accounting software like CasinoEdge Intacct, those potential issues are virtually non-existent. This automation occurs, only requiring supporting documentation at the transaction level before the purchase can be final.
The technology is integrated, too, with other valuable areas such as cash management, event P&L management, multi-property consolidated financials and inventory. As a result, there’s no duplicate data entry for employees, and intercompany transfers are automatic, further adding to the time savings. Plus, the automation also provides greater confidence that data is being managed compliantly throughout the entire procurement process, ensuring a smoother audit experience.
Gain a Valuable Tool for Your Casino’s Short- and Long-Term Financial Plans
CasinoEdge powered by Sage Intacct has been adopted by over 30 tribal gaming organizations in just four short years, with a 100% retention rate. The ability to automate mission-critical financial processes has led to cleaner and quicker audits, employees being able to maximize their time on value- added activities and the enhancement of the entire casino operation.
At Wipfli, our primary goal is to help our clients succeed. Success can come in many different forms. As we’ve seen in working with tribal gaming organizations for over 30 years, success means helping our clients grow while meeting and exceeding regulatory requirements. With CasinoEdge, powered by Sage Intacct’s award-winning accounting and business management software, you receive gold-standard accounting software combined with a technology partner that lives and breathes gaming, just like you. To learn more about CasinoEdge Intacct, or to schedule your live demo to see how it can enhance your casino’s operations, contact us.