Expedia has done something that smart companies have learned from the past two technology recessions, invest aggressively to build sustainable advantage and grab market share from the competition. Expedia has invested heavily in technology to help build itself into the leader in online travel. The internet pioneer is also investing in its own technology infrastructure; Expedia is now using PeopleSoft Enterprise Financial Management across its worldwide operations to support its expansion and double-digit revenue growth. “Using technology as a weapon for competitive advantage is the vision we have for our financial systems,” notes Joe Schick, vice president of Finance at Expedia. “PeopleSoft Enterprise Financial Management gives us that advantage, improving our processes and closing times, reducing our costs, and giving us the reporting speed and flexibility we need to grow at a very fast pace.” (www.expediabusinessadvantage.com)
Prior to implementing PeopleSoft Enterprise, Expedia’s process of paying its worldwide network of hotel partners was not very efficient. They required the use of an outside service to handle payments, especially payments in foreign currencies. By using PeopleSoft Enterprise Accounts Payable, Expedia now handles that process, setting up direct automatic clearing house payments to both domestic and international hotel partners. “By implementing PeopleSoft Enterprise Accounts Payable for our merchant hotel business, we’ve been able to save over $1 million annually in bank fees and other costs,” says Schick. “That’s been a tremendous victory for us, exemplifying how effective finance operations can contribute to the bottom line.” (www.expediabusinessadvantage.com)
• Real-time visibility into sales and revenue trends supports fast-paced growth.
• Greater reporting speed and flexibility improves financial analysis and decision making.
• Single source of financial information across worldwide operations...
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