We are pleased to announce that Knowledge Universe has successfully implemented Adaptive Planning alongside NetSuite to improve their financial management.
Knowledge Universe is a leading global education organisation with a network of more than 3,000 locations worldwide, employing over 40,000 education professionals, operating early childhood education centres, international schools, colleges, large on-line schools and school management systems, which together touch over 300,000 students daily.
What you may not know is that Knowledge Universe was co-founded by Mike Milken, a legendary financier widely known for innovations that helped create millions of jobs in the more than 3,200 companies he has financed since 1969. He is the active Chairman of Knowledge Universe today. Full biography here.
After successfully implementing Adaptive Planning in Singapore in 2010 for the 2011 budget, Knowledge Universe® extended the solution initially across Malaysia, India and the United Kingdom over the course of 2011 and 2012. Today, these users rely on the solution for budgeting, personnel planning and revenue planning, which is driven by student enrollment and programme pricing. They also conduct monthly forecasting across all of their education centers. Recently, they added Adaptive Discovery, the visual discovery application within the Adaptive Planning suite of performance management solutions, which provides dashboards and scorecards for financial and non-financial data.
“The real value of Adaptive Planning is not only the automation aspect, but that it provides a much richer budgeting environment, with which we can think through our strategy, better understand assumptions while delivering a more thought-driven budget to the organization,” said Reg Singh, CFO, Knowledge Universe. “Adaptive Planning is much more than just a planning tool and enables us to deliver management reporting across the organization.”