AT A GLANCE
CHALLENGES
- Product cost complexity
- Tracking stock movement
- Training and staff development
MATRICS
- 170% Increase in revenue
- 35% decrease in material cost
- 40% increase in food orders
“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 ”
ADeolu Kolade
Co-Founder, OyaSync Ltd
Introduction
An upscale lounge located started operations in 2019 with one location in the Wuse area of Abuja, Nigeria, . In 2021, they expanded to 5 locations and were faced with the problems of managing procurement for all the locations and were losing millions of naira to theft and perishable goods. Since their adoption of the OyaSync ERP, they have been able to significantly reduce spoilage and better track the cost of raw materials. Despite the rising cost of inflation, they have managed to keep their margins above 80%.
Objectives
- Automate the procurement and approval process while enhancing the synergy between accounts, sales, and procurement.
- Track and eliminate non-profitable items, increase the sale of profitable items.
- Distinguish between cost centers and subsidiaries and track the profitability of each.
Solutions
- Clear separation of duties amongst department heads and automating the approval process
- Implementing a cash management system to monitor payments to vendors and procurement officers
- Labeling of cost centers to track the profitability of each new business unit
Benefits
- Procurement management. Synchronises activities between the various warehouses and store management
- Operations have become standardized, costs are being monitored effectively, and employees have very clear job responsibilities. This has created an opportunity to expand via franchising.
- Workflow management. Accountability and transparency have significantly improved, and employees are clear about their roles and responsibilities
