Meltwater School Fosters Technology Entrepreneurship in Africa with NetSuite.org

Meltwater Entrepreneurial School of Technology

"The time savings with NetSuite have been phenomenal. NetSuite is an incredible asset and NetSuite.org has been incredibly generous with us and our incubator companies." Meltwater Entrepreneurial School of Technology

Company at a Glance

Location:
Accra, Ghana
Industry:
Nonprofit, Education
Applications Replaced:
Excel

Solutions

NetSuite
NetSuite Financials

Customer Success:

  • The Meltwater Entrepreneurial School of Technology (MEST) improved business efficiency by 50% since implementing NetSuite in 2012.
  • NetSuite's integrated business solution gives MEST a complete platform to handle student and employee records, financials, transactions and marketing.
  • The cloud-based system enables real-time visibility in MEST financials and operations by its founder, the Meltwater Group, a NetSuite partner and vendor of online intelligence solutions with 20,000 customers and 27 offices around the world.
  • NetSuite.org's donation and the greater efficiency realized by its solutions enable MEST to route limited resources into its two-year educational program and software startup incubator.
  • With NetSuite, MEST is further building on its success of educating 125 young developers since 2008 and investing more than $1.5 million in 14 startups, including Saya, Retail Tower and Dropifi.
  • Many MEST incubator startups are now using NetSuite through the donation program to manage their accounting, CRM and sales force automation.
  • Time required for annual auditing was reduced from more than a month with a half-dozen auditors to just several hours with NetSuite.
  • Better visibility into expenses enables MEST to make informed, cost-saving decisions on cafeteria operations, diesel fuel and other operational outlays.

Challenges:

  • Excel and paper-based processes offered limited visibility into costs and budgets that resulted in delays, manual data re-entry and guesswork.
  • MEST's parent organization, the Meltwater Group, lacked a real-time view of school financials and operations.
  • Previous annual auditing was a painful exercise that took a month and involved a half-dozen auditors.

Solution:

  • The NetSuite.org corporate citizenship program and unified cloud business solution were ideal and met MEST's need for low-cost, high-performance business software.
  • NetSuite.org also supplied free and discounted software to many of the 14 MEST-based incubator startups, giving these organizations a scalable platform for success.
  • In concert with the school's use of NetSuite, the Meltwater Group has also implemented NetSuite in many areas of its global business.