Case Study: Fairmont Royal York

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 through CSI’s electronic globalVCard® 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.”