Global travel technology leader, Sabre, trusts LOVIS to fulfil its e-accounting reporting needs, providing a timely and reliable solution.
SABRE is a global b2b travel marketplace with a mobile-enabled platform for purchasers to research, price, book and pay for travel. When electronic accountability was introduced in Mexico in 2014, the company was under pressure to change its reporting processes in a short period of time.
Its objective was clear; to introduce a flexible information registration system that catered for operational and not process needs, which could consolidate two companies’ financial reporting and meet the government’s deadline.
LOVIS helped Sabre achieve what at first seemed impossible – to transform the technology of two companies within its Group, ensuring reports were delivered on time. By automating its financial statement process, the businesses saved around 2000 hours per year.
The problem
Prior to a change in accounting regulations, each business unit spent time and effort manually consolidating financial statements. In 2014, the tax office announced businesses were required to include all direct company transactions in their reports and register them, via electronic media, following a pre-determined criteria. These included:
- Reconciling registration and accounting processes.
- Adapting the information capture processes and data criteria structure to meet the authority’s guidelines.
The rapidly changing regulatory framework prompted Sabre to turn to LOVIS. Sabre knew its Enterprise Operating System could meet the required criteria, and because it’s cloud-based, it doesn’t require code development to function. The system’s also available from day one.
The solution
LOVIS worked alongside Sabre staff around the clock to ensure the system’s processes complied with the tax office’s requirements.
In order to assure the workforce embraced this change, LOVIS suggested a comprehensive training programme. This strengthened work already undertaken (a fundamental success trigger) and ensured further necessary data, such as: client’s catalogues, suppliers, materials, costs and bank account information was inputted.
Benefits
- Online and real time access to Sabre’s accounts’ data
- Instantly generated accounts’ reports.
- 100% of information delivery and electronic accountability requirements met
- Financial statements can be shown in foreign currency
- Billing time reduced by 70% on average
- Tasks simplified, reducing effort needed to obtain full accounting information.