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OYO achieved 70% faster month-end close with 98% reporting accuracy with Volopay
Improved service uptime
OYO's vendor cycle times dropped from 10 days to 2
Leakage cut
OYO has controlled departmental budgets for F&B and guest services
Visibility across properties
Stronger financial oversight cut OYO’s untracked spend by 25%
OYO is a hospitality company, providing affordable and budget-friendly accommodation options across several global destinations. Founded in 2013, they have introduced accommodation options that allow for smoother and more widely accessible travel to different demographics of travellers everywhere.
â—Ź Daily expenses for supplies and utilities
â—Ź Troublesome transaction limits preventing smooth operations
â—Ź Lack of spend controls for better employee expense management
In-built corporate cards that can be used both offline and online to manage employee expenses. These cards can be set to abide by company policy to ensure that expenses are made within departmental budget, without restricting employees and causing payment delays due to convoluted approval systems. Additionally, advanced transaction limits and controls reduce the need for repetitive petty cash requests.
Volopay’s integrations allowed them to connect their expense management ledgers to their accounting system of choice, ensuring a two-way sync without the need for manual entry or doubling the work.Â
Volopay’s dashboard allows companies to set up policies for compliant transactions, limits for cards, 5-level approval workflows to prevent unnecessary or out-of-budget spending, and use-case dependent card issuance to ensure that company cash is being spent in the right place.
With PMS/ERP sync, OYO's month-end close is 70% faster and a reposting accuracy higher than 98%.
With transparent visibility into VIP event spending, OYO reduced their overspending by 40%.
With under controlled renovation budgets, OYO reduced their overruns by 10-15%.
With 60% faster invoice approvals, Volopay helped OYO in launching and refurbishing their properties on time.
OYO joins a host of Indian hospitality companies using Volopay, becoming one of many that enjoy remarkable improvements in expense management.Â