BSM Bet Pays Off for Hospitality Leader
With disparate business units, MGM Resorts International has complex procurement needs that can range from buying linens to medical supplies for dolphins. And with over one million paper-based invoices annually, they knew they had to raise the stakes on digitization with a unified platform.
Company Overview
MGM Resorts International is a global hospitality and entertainment company with over $7 billion of spend.
Headquarters
Global
Employees
75,000+
Customer Website
Value as a Service
3x
More PO-Based Invoicing
$2.4M
Saved with Better Spend Management
90%
Jump in E-Invoicing Adoption
Challenges
Over $7 billion in spend each year spread across one million paper invoices.
Limited end-to-end visibility into procurement and payment due to paper-based processes.
Several disjointed lines of business including hospitality, retail, food and beverage.
Results
With PO-backed invoices Finance and Procurement teams achieved greater budget predictability almost overnight.
Greater visibility into spend and suppliers for locations around the world.
Electronic invoicing jumped from 0% to 90% for the one million invoices processed each year.
"We were just thrilled with the results and how quickly we obtained the value of process efficiencies."
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