Tifco Limited is an experienced hospitality, development, and management company that owns and operates a portfolio of hotels under the Crowne Plaza and Holiday Inn Express brands in Ireland and in Germany. Its properties include the Crowne Plaza Northwood Dublin, Crowne Plaza Dundalk, Crowne Plaza Blanchardstown, Holiday Inn Express at Dublin Airport, and Holiday Inn Express at Stuttgart Airport. In addition, Tifco owns and operates the unbranded Clontarf Castle Hotel, which was the company’s first property.

The Challenge

• With a growing portfolio of hotels, Tifco faced a number of challenges:
• Gain access to accurate and timely financial information.
• Standardise key accounting functions across the group for greater efficiency and expenditure control.
• Cut costs by streamlining procurement channels and reducing unnecessary or excess inventory items.
• Build a scalable, future-proof system to support Tifco’s expansion plans.
  Ensure rapid implementation of the solution with minimum project costs.

The Approach And Solution

System Dynamics deployed Oracle E-Business Suite using Oracle Accelerators, ensuring a fast and seamless implementation over five months and resulting in savings of 30% on overall project costs to that of a traditional roll out method. The resulting implementation of E-Business provided a tailored solution, offering a mix of industry functionality and best-practices.

The Benefits

Tifco gained greater transparency of business activity with Oracle Financials, providing access to real-time financial information across the group’s hotels, resulting in quicker and more informed management decisions.

Enabled drill-down capability to analyse individual line items, facilitating better inventory management and reducing unnecessary stock purchases by 1% of US$8.52 million (€6 million) in purchases.

Leveraged Oracle Purchasing and Oracle iProcurement to analyse and negotiate better price terms with suppliers and service providers, resulting in overall cost savings of 2% of all purchases.

Provided a robust, scalable, and flexible system, supporting Tifco’s business expansion plans and requirements for the future.