How Vivo Hospitality Implemented Trust Accounting Automation and Enhanced Financial Management with Clearing
Discover how Vivo Hospitality implemented trust accounting automation and enhanced financial management with Clearing's automated bookkeeping and trust accounting solution.
June 20, 2024
Corey
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Vivo Hospitality is a premier management company specializing in luxury short-term vacation rentals in South Florida, Dominican Republic and Punta Cana. They offer an array of high-end properties, ensuring exceptional guest experiences with amenities like fully equipped kitchens, private pools, and high-speed WiFi.
The Challenge
Managing finances for a diverse portfolio of high-end properties presented Vivo Hospitality with challenges in bookkeeping, expense management, and reporting. They needed a streamlined solution to handle complex trust accounting and provide clear financial insights to homeowners.
The Solution
Vivo Hospitality turned to Clearing, integrating its automated bookkeeping and trust accounting software. Clearing's platform provided:
- Automated Transaction Categorization: Simplifying bookkeeping by automatically categorizing transactions.
- Customizable Owner Statements: Offering clear, branded, tailored financial reports for property owners.
- Integration with Existing Tools: Seamless integration with platforms like Stripe and QuickBooks for efficient financial management.
Leo Martinez, founder of Vivo Hospitality, explains, “I truly do value the services you offer and the flexibility of the software. It truly is fit for purpose and allows me to leverage your integrations to work smarter, not harder.”
Results
Since implementing Clearing, Vivo Hospitality has experienced significant improvements:
- Time Savings: Automated processes have reduced the time spent on manual bookkeeping.
- Improved Accuracy: Automated categorization and integration with existing tools have minimized errors.
- Enhanced Reporting: Customizable reports provide clear and insightful financial data to property owners, enhancing transparency and trust.
Leo Martinez, founder of Vivo Hospitality, shares, "I am continuously impressed by Clearing’s implementation of enhancements to the platform. As a small business owner trying to grow his business, I value excellent customer service and functionality. Your team doesn’t disappoint. Thank you!”
Additional Information: Top Benefits of Using Clearing:
- Streamlined Financial Operations:
- Clearing's automated bookkeeping has simplified Vivo Hospitality's financial management.
- Customizable reports provide clear insights, reducing the time and effort spent on manual tasks.
- Efficiency and Growth:
- The integration with existing tools like Stripe and QuickBooks ensures seamless financial operations.
- Automated transaction categorization and expense management help maintain accuracy and efficiency.
- Enhanced Transparency and Trust:
- Clear and tailored financial reports enhance transparency for property owners.
- Improved accuracy in financial data builds trust and confidence among stakeholders.
- Exceptional Customer Support:
- Continuous enhancements and excellent customer service have impressed Vivo Hospitality.
- The functionality of the platform supports the growth and operational efficiency of small businesses.
- Sustainable Business Growth:
- By streamlining financial operations, Vivo Hospitality can focus on delivering exceptional guest experiences and expanding their portfolio sustainably.
Conclusion
Clearing has empowered Vivo Hospitality to streamline their financial operations, allowing them to focus more on delivering exceptional guest experiences and growing their portfolio. By leveraging Clearing's automated bookkeeping, trust accounting, and expense management features, Vivo Hospitality has achieved significant improvements in efficiency, accuracy, and transparency.
"Clearing has revolutionized our financial operations, providing us with the accuracy and efficiency we needed to manage our diverse portfolio. The seamless integration with our existing tools and the ability to generate customized reports have been game-changers. As we continue to grow, Clearing's exceptional support and continuous platform enhancements ensure we stay ahead. It's more than just a tool; it's a trusted partner in our journey towards sustainable growth." - Leo Martinez, Founder of Vivo Hospitality
For more information about Clearing, please join us for a free, personalized demo so we can show you what Leo works with, and why it can help you too!
Clearing is a Financial Technology Company, not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.
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