Bin Ham Properties - NetSuite Implementation Success Story

Customer

Bin Ham Properties, a prominent subsidiary of Bin Ham Group, is a leading real estate company specializing in property development, investment, and management. With a focus on leasing managed and owned properties, Bin Ham Properties currently oversees an impressive portfolio of over 4,000 units across the UAE. Their commitment to excellence and expertise in the real estate sector positions them as a trusted partner for all property-related needs.

Summary

Folio3 implemented the comprehensive Oracle NetSuite ERP to streamline Binham properties’ financial, reporting, and property management processes. This enabled Bin Ham Properties to effectively tackle escalating rents and maximize the economic returns from their real estate assets, facilitating growth and success in their investment properties.

The Challenge

In the fast-growing real estate industry, Bin Ham Group faced numerous challenges as it expanded its investment properties both within and outside the UAE. These challenges included difficulties in efficiently managing day-to-day financial operations, property management, and reporting tasks. Additionally, they lacked a comprehensive property management solution to effectively handle all leasing processes for their residential, administrative, and commercial affiliates.

Solution

Set up company structure and financial segmentation strategy along with core accounting operations-based business processes
Set up comprehensive functionalities in Oracle NetSuite, such as general ledger, accounts payable, accounts receivable, and bank reconciliation
Configure the Item Master in Oracle NetSuite, including inventory, non-inventory, and charge items
Establish item pricing structures, price levels, and units of measure, and ensure seamless item transactions
Set up purchasing process in NetSuite that include the Vendor Master setup, creation and management of purchase orders, vendor bills, and payments
Set up a Sales process that includes but is not limited to Customer/Contact Master, Sales Orders, Sales Order Item Fulfillments (Pick, Pack, and Ship), Invoices, Customer Credit Memos, Customer Return Item Receipts Shipping methods
Implement CRM processes for effective support management
Configured module for accurate fixed asset management
Implement analytics for insightful data analysis

Result

Folio3 successfully implemented Oracle NetSuite ERP for Binham, addressing the company’s challenges comprehensively. The solution streamlined Financial operations, leasing management, property maintenance, and enhanced financial control. With NetSuite ERP, Binham achieved greater efficiency, transparency, and scalability in their overall business operations

Trading Partner Networks

Order & Warehouse Management

Mailing System Integrations

Simplify AFA Production and manufacturing processes with NStitch.

Content Library

Did you know?

Helped achieve transparency with streamlined finances, leasing management and property maintenenace.

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