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Omnispire scores an A+ in financial management with NetSuite Cloud

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About Omnispire Educational Consultants

Founded 30 years ago, Omnispire is a provider of educational facilities in the UAE. Omnispire provides operational supervision and support in areas of finance, facilities management, marketing, quality assurance and professional training to schools and nurseries across UAE. It currently holds 3 institutions under its portfolio and is growing in operations and clientele.

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Location

Dubai (UAE)

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Industry

Educational Consultants

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Employees

300+

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Applications Replaced

Tally, Spreadsheets

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NetSuite Products Implemented

NetSuite Financials, OneWorld, Advanced Financials, Advanced Procurement, Fixed Assets Management.

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Business Challenges

The student headcount at Omnisperes run Institutions were growing. Omnispire was looking to deploy an advanced business software that would replace unconnected systems. Omnisphire needed to improve efficiency and automation in:

  • Management of student profiles and records
  • Maintaining accuracy in student records
  • Improving financial management
  • Parent-student communication
  • Batch-wise and year-wise processing of student data
  • Bulk receipts entry for PDCs
  • Automation of discount on school fees for siblings
  • Better reporting with advanced filters
  • Easily import student files from SIS (Student Information System)

The Solution: A single system that unifies student management, invoicing and other processes and Financial management.

Omnispire zeroed in on NetSuite Cloud ERP - a system that best met their business requirements.

NetSuite enabled Omnispire student management, automated invoicing and managing its financials. KPI’s team provided solutions for the specific customizing all, Omnispire got a complete system that helped them to manage their business growth.

Thanks to NetSuite, Omnispire accomplished:

Reduced billing time

In their previous system, Omnispire could only manage to create invoices one at a time.! Needless to say, it was time-consuming and cumbersome. With NetSuite, Omnispire now enjoys one-click bulk billing on NetSuite. Students are categorized according to several classes and divisions for invoicing purposes. The finance team can now- select from a variety of sections and/or classes, create a list of every student registered in each section, and finally take bulk billing actions. This has significantly reduced the billing time.

Bulk Invoice

Simpler Payment processing:

KPI implemented a simplified fees management process. The new process allows the user to enter various modes of payments like Post Dated Cheques, Current Dated Cheques, Credit Cards and, Debit Cards. With this customization, Omnispire can now collect fees with the different instalment options and adjust the fees payments to specific installments. Additionally, automated emails are setup in the system to send notifications and reminders pertaining to:

  • invoices
  • instalments due and scheduled,
  • security deposits,
  • fees receipts,
  • refunds and credit notes

This has enhanced the accuracy of the information- resulting in better communication with parents.

Accept PaymentPayment Details

Efficient PDC management and improved cash flows

Payment management, particularly referring to processing post-dated cheques (PDCs), has undergone a complete transformation. Unlike the previous system, where only one PDC could be recorded at a time, NetSuite allows recording of multiple PDCs - for each installment. NetSuite enables real-time accounting and improved administration of all receivables and payables. Consolidated invoicing, payments, and related communication to parents with multiple students and automated siblings fee discounts.

PDC Deposit

Track finances with live dashboards and comprehensive reporting

NetSuite helps Omnispire have real-time data on fee collections, delayed fee payments, and other financial information . In addition to standard financial reports like P&L, Balance Sheet, GL, etc., the finance team can also access and generate customized reports like Total Collections Report, Student-wise Collections Report, and Invoice Reports.

Integrated HR and Payroll Solution

Payroll, Leave & Attendance Management Solution has been implemented for all the 5 Subsidiaries i.e., Omnispire Education Consultants, Banana Moon Nursery, Pristine Private School, Pristine Rainbow Nursery & Progressive Transport LLC for around 300 employees. This streamlined and automated the businesses manual payroll process and employee leave policy with specific set of rules.

Payroll Solution
The Results
  • A single system to manage multiple subsidiary operations
  • Strong accounting and financial control
  • Streamlined and automated processes
  • Improved communication and support
  • Real-time business intelligence and transparency into business performance
NetSuite was the need of the hour for Omnispire. KPI not only carried out a successful NetSuite implementation but also completed it in record time. The system was tailored to meet all their specific requirements. It brought together their multiple subsidiaries under one view - something that was not possible with their previous systems. Their operations are now better managed and more streamlined. NetSuite the right business technology - supporting Omnispire’s growing operations and plans for future.
We run three different schools under Omnispire Education. Each school has different curriculum and pattern of operations in terms of student profiles, billing, and collections. The quantity of data we have on our students, their parents and their finances is enormous, so we had to figure out a way to organize and manage it. We were able to successfully manage our financials and student-parents data efficiently on Oracle NetSuite.

KPI as our implementation partners played a key role in the successful rollout of NetSuite. KPI Team could understand our complex operations and could deliver an efficient system that we wanted – the way we wanted. The sheer commitment and maturity of the team to comprehend our requirements and translating those to NetSuite was just phenomenal.
Fahd Salam
Director – Finance & Strategy
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With over 30 years of hard work and commitment to making a real difference, KPI has grown to serve customers from a variety of business sectors and industries across Middle East.

KPI | Suite 301 & 308, Building – 2, Bay Square, P.O. Box 121395, Business Bay, Dubai, UAE.

+971 4 455 10 10
[email protected]