Hersha Hospitality ROI Summary:
Hersha Hospitality Management has recently discovered how one module … SK Global’s Accounts Payable Electronic Funds Transfer (AP EFT) … can truly change business for the better. The organization plans to eliminate a large number of the 62,000 checks printed each year by implementing the APEFT add-on for MS Dynamics SL. Hersha expects 80% of their vendors will accept electronic transfers, improving their cash flow. Hersha’s ROI analysis yielded some very impressive results. The analysis showed a three year estimated cost of $26,000 for using AP EFT, including the purchase, implementation and customization of the module, along with annual maintenance costs and bank fees for EFT processing. After itemizing the cost of continuing to print checks, which included $21,000 in postage alone, they found an annual savings of $64,830! That’s a three year savings of almost $200,000!