Top Concerns for Tribal Casino accounting and Management Teams
by Janet Talley on 6/4/19 1:06 PM
Operating a casino requires attention to so many details and concerns; from gaming, dining, and hospitality, to security, guest services, and even tourism. That's why trusting your software requirements to Acumatica is a great choice. There are options to suit every need and simplify operations. Here are the Top 4 Concerns for Tribal Casino accounting and Management Organizations and how Acumatica ERP solves them:
Many tribes operate with multi-level checks and balances. For instance, one team member enters the transaction and another one reviews and posts the transaction.
Approvals are also a requirement. For many, approvals are a manual process where an entry is made, then printed out, before the authorization is signed by hand. Acumatica has an automated bill approval process. We also have additional approval maps and multi-step approvals that can be set up for various tasks. Managers and approvers can also use our notification system to receive email or mobile push notifications when their approval is required.
"Restriction Groups" allow us to set up reporting and transactional views for users who should only have access to information related to their individual departments or profit centers. For example, the gaming department manager can view profit and loss statements that only include revenues and costs that relate to their department. Payroll and related costs can be restricted to be viewed only by HR and Accounting. The possibilities are virtually endless.
Finally, employees or managers who do not have system access, our integrated email system allows reports to be emailed with a quick push of a button - thereby eliminating any printing/scanning and email attachments. Learn more about why Acumatica is more secure.
Casinos often utilize various systems, including multiple Point of Sale programs, Human Resources Management Software, and time clocks, among others. Our REST API's allow us to create bi-directional integrations with these various systems.
For audit purposes, some casinos require all transactions, including these integrations, to be tracked using widely acceptable programs like Microsoft Excel. Acumatica's bi-directional Excel integration allows casinos to manage transactions in Excel. Upload them into transactions without any double entry, consequently eliminating user error. In addition, we can use the drag and drop feature to attach the Excel files directly to the transaction they are related to.
Most casinos have thousands of assets they track, typically in non-integrated systems. Acumatica allows for real-time asset tracking and an instant view of asset impact on financials.
Many casinos, like other organizations, utilize a 3rd party system for expense reporting and reimbursement. Acumatica's time and expense feature allow employees to enter expense receipts, capture images of them, submit for approval. Then the payables department can then print a reimbursement check.
3. Flexible Deployment
A huge concern for tribal casino's is some have strict requirements for all software and systems to be hosted in-house and supported by an in-house information technology team. This effectively limits their ability to take advantage of many cloud solutions, because they are only offered software as a hosted service or through an off-site server.
Other casinos and tribes can take advantage of the SAAS (Software as a Service) model. Virtually eliminating the need for servers and other expensive hardware onsite.
Unlike most cloud solutions, Acumatica offers flexible deployment options. The ability to utilize mobile app technology to manage approvals and tasks. This is done anywhere onsite and can be key to a large casino environment.
Finally, Acumatica offers in-depth financial reporting requirements by the department, profit center, and possibly branch or entity. We can provide consolidated reporting among various profit centers and companies/branches or entities. Acumatica can customize reports to meet the requirements of strict internal audits. Without having to export and manage reporting in Excel or other outside programs. Furthermore, dashboards and inquiries are available that will give instant views into profitability by department/profit center.
In conclusion, Acumatica is capable of meeting the needs and concerns of a fast-paced tribal casino environment and can even simplify operations through user-friendly programming.