Toronto luxury hotel ushers in new era of productivity with CSI Paysystems.
Like many businesses in Canada, the payables function for Fairmont Royal York remained a highly manual process, with accountants issuing paper cheques for vendor payments. Recognizing the need to improve productivity through better use of technology, Regional Financial Controller Serge Laroche led the charge to usher in a new era of productivity by automating the accounts payable function with CSI Paysystems.
While hotels are accustomed to receiving payments via credit cards, many vendors are not. Because of this, Laroche’s expectations were low, anticipating 10% of the hotel’s vendors would agree to accept virtual card payments. “I was so surprised that the CSI team achieved 50% enrollment during the initial campaign, and even more surprised that most vendors remain on the program because they immediately see the benefits.”
Although accepting credit card payments also requires the absorption of transaction fees, most vendors discover those fees are offset by savings from faster and easier payments. The scale of CSI’s business and dominance in Canada is an added advantage that promotes greater knowledge about the program and therefore a greater willingness to join.
“Professional, responsive, and reliable; those are words I’d use to describe CSI’s support team. CSI continually exceeds my expectations and are in a class above any other service provider I have worked with.”
Laroche oversees numerous hotels in the central Canada region and recommends CSI Paysystems to all financial decision makers. “The convenience, savings, and revenue we get back through rebates, plus the fact that CSI does most of the work – it’s really a no-brainer.”
Manual processes take time and time equals money. See why 12,000+ customers trust us with their payments.