AT A GLANCE
CHALLENGES
- Creating management reports
- Providing access to relevant student information
- Tracking accounts receivables
MATRICS
- 40% Increase in cash reserves
- 35% decrease in bad debt
- 15% increase in student enrolment
“For over 7 years, we’ve been developing new technology for enterprises of all sizes.
Our mission is to help entrepreneurs establish, build and grow more efficient, effective and transparent businesses ”
Deolu Kolade
Co-Founder, OyaSync Ltd
Introduction
An educational institution founded in 2007 and located in the Surulere area of Lagos State has been able to develop better synergy among its 8 satellite offices located across three different states in Nigeria. In addition, the businesses have been able to effectively keep better inventory records and manage student debt running to millions of dollars. In the last 18 months, they have managed their cash flow more effectively and reinvested in more profitable training programs.
Objectives
- Manage the flow of Inventory between different cost centers and their customers
- Centralize accounting records to enable faster decision-making by management
- Keep proper records of customers and their debt duration
Solutions
- Implementing a cloud-based business process management system (OyaSync ERP)
- Implementation of Warehousing and Inventory management systems
- Implementing a Fee/Subscription management system
Benefits
- Ease of Inventory tracking. Inventory can now be easily tracked across all locations to know when stock balances are low and re-stocking is needed
- Enhanced decision-making process. Accounting records are now centralized and can be accessed from anywhere.
- Debtors can now easily be tracked, and communication has greatly improved with owners defaulting accounts
