When MGM China expanded their integrated resorts in Macau—tripling the number of hotel rooms in their portfolio and doubling the size of the company—they saw weaknesses in their legacy finance system. In the run up to their second property opening, the system couldn’t support the expanded company size, wasn’t user-friendly, and lacked functionality because finance and operational processes were largely manual. Outdated and impossible to configure, the accuracy of their data was questionable, which reduced the value of reports. This created gaps that prolonged decisions and obscured opportunities to improve efficiency and profitability.
We wanted to streamline and automate processes to service and support multiple locations without expanding our pool of labor resources.
Vice President of Supply Chain Services
Improved financial management helps stack the deck.
MGM China looked at several financial management solutions, including Workday Financial Management. The company had already been using Workday Human Capital Management (HCM) for several years and recognized the benefit of consolidating both functions into a single system.
MGM China made detailed evaluations of the financial solutions under review. “One of the features that really stood out for us was the configurability of Financial Management,” says Gary Chung, vice president of supply chain services at MGM China. The application would allow MGM China to automate current manual processes while remaining flexible enough to adapt to future needs.
Gaining insight down to the details.
With Financial Management and HCM integrated, successfully expanding the integrated resorts is a safe bet. Now staff have detailed views of the company’s financial and workforce operations in real time to make sure everything, from onboarding new hires to predicting cost scenarios, is handled efficiently.
Individual departments get access to real-time insights to analyze performance, build reports, and recommend improvements thanks to eagle-eye views of MGM China’s operations. User satisfaction is high because of the intuitive interface and in-depth views of what’s driving growth. Additionally, departments can surface the data they need to meet their requirements with Workday Prism Analytics.
Chung says, “The analytics capability lets us consolidate and manage data from our entire operation, accelerating the time it takes to produce insights.”
With Workday, our departments get the financial information they need, in the format they need it, whenever it’s required.
Vice President of Supply Chain Services
Streamlined processes for better resort management.
MGM China is also improving resort management by using Financial Management to streamline the entire procure-to-pay (P2P) process, from creating a purchase request and authorization to receiving goods and paying invoices. Everything from receiving dock operations to invoice processing, purchase orders, and contract authorization is now completed in Workday.
Once MGM China finishes integrating their supplier portal with Workday, their suppliers will be able to receive purchase orders and monitor the status of their invoices. This is especially useful for small suppliers whose cash flow is important, and it makes up about a quarter of MGM China procurement spend.
Financial Management enables us to get on with the tasks to run our business efficiently.
Vice President of Supply Chain Services
Changing it up made faster and easier.
Paper-based financial management processes have been phased out. Approvals are routed through Workday to a consolidated inbox for department staff to read and click to approve before moving on to the next task. Managing them electronically through Workday makes for a nimbler MGM China operation.
When MGM China needs to change or modify their processes, the configurability in Workday makes it simple. They are also using Workday Adaptive Planning for faster decision-making. Chung says, “Adaptive Planning enables us to plan budgets more effectively. We’re spending less time compiling reports manually and more time analyzing data to drive business performance.”
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