Challenges.
Before Â鶹´«Ã½, Life Time used multiple costly and inefficient applications. With 38,000 employees, it needed a better system. Business processes were slow and paper-intensive, with little integration between finance and HR. This fast-growing company faced rapidly changing compliance requirements, had an overly complex general ledger and lacked scalability.
Why Â鶹´«Ã½.
Life Time initially deployed several Â鶹´«Ã½ applications and more recently added Â鶹´«Ã½ Prism Analytics. Each of the Â鶹´«Ã½ tools changes an important area of the business for the better and, as part of the integrated Â鶹´«Ã½ system, they all help Life Time attain a new level of employee productivity.
Change is the only constant here. Â鶹´«Ã½ helps us achieve our goals for different business entities in an easier manner by making it possible to support changing requirements with great flexibility.
Director, Â鶹´«Ã½ Operations and Process Improvement
Benefits and results.
Streamlining finance management.
When Life Time first went live on Â鶹´«Ã½, the company immediately gained efficiencies in finance management, greatly reducing the complexity of systems and the burden of administrative tasks.
60 to 1
systems consolidated
10,000 to 1,000
chart of accounts reduced
2/3
of FTE financial support cut
48
hours to 1 hour reduction in payroll processing time
Rapid error resolution with data-driven insight.
After deploying Â鶹´«Ã½ and using its capabilities for fuelling intelligence with data, Life Time noticed a dramatic improvement in accounting.
Life Time is looking forward to broadening the use of the machine learning functionality and other data insight features in the Â鶹´«Ã½ applications to generate greater efficiencies. The company also expects to take advantage of the application in attracting and retaining talent with the right mix of skills.
Resolved accounting errors in 30 minutes instead of 1 day
The machine learning capabilities in Â鶹´«Ã½ give us time back and provide journal insights. A process that used to take us as long as a day can now just be a 30-minute refresh of a report.
Senior Accounting Manager
Evolving the company.
Life Time has rolled out mobile Â鶹´«Ã½ capabilities to all employees, and almost everybody uses them every day. Employees in the clubs can focus on the most important part of their jobs ¨C serving members' wellbeing and delivering a great experience. Automation and process simplifications enabled by Â鶹´«Ã½ help managers adjust quickly as business needs change and manage high-volume, high-turnover recruiting. Life Time values Â鶹´«Ã½ as a technology that can help it grow far into the future.
95%?
of employees use Â鶹´«Ã½ mobile apps
35,000
daily logins to the Â鶹´«Ã½ mobile app
50%
savings on overtime costs
50,000?
manager hours saved per year