Orion Reederei – From Excel to Automated Vessel Finance in no time
In the always busy port of Hamburg, Orion Reederei has been present in the shipping industry for more than 90 years. Today, Orion remains one of the world’s top managers of bulk carriers employing more than 1400 seafarers on board their fleet of nearly 50 vessels. These credentials require an updated platform, for managing and reporting on both internal and external data for management, shipowners, and other stakeholders such as financial institutions, investors etc.
With the emerging digital transformation consuming the German market, Orion was searching for a business solution, from which they can automate and optimize their existing manual reporting processes. In this search, Solitwork’s AFC Data & Analytics platform has been selected to solve this task.
Every quarter the Orion finance team is submitting detailed reports to the shipowners on the operational and financial performance of their vessels. It a quite a time consuming and exhausting exercise requiring significant manpower as all processes are manual and with data coming from multiple sources/systems.
With AFC Data & Analytics, Orion has managed to automate, optimize, and digitalize the quarterly performance reporting to the shipowners with direct data loads from their ERP legacy systems to the reports, meaning that the quarterly reports including vessel chartering and operation, operational expenses (OPEX), crewing and general vessel management went from extensive manual labour to real-time updated automated reports enriched with various pre-defined business logic. This automated optimization now allows the team from Orion to focus on what really matters, namely the analysis and business optimization rather than data management.
Enabling a more data-driven work-life with the AFC Software, the path for a digitalized future has now been established, and for the next phases, Solitwork is working together with Orion on bringing in more operational data in the quarterly reports including empowering commenting in SharePoint, to enrich the Power BI reports for a more automated analysis process. Furthermore, Orion is planning to use the AFC Software within other areas of their daily business including Crewing, Quality Management and Accounting/Finance.
Managing director from Orion Reederei, Mads D. Sorensen, gives his insights on the project with Solitwork:
This process has been an eye-opener for us. Throughout the process, we have become familiar with the professionalism and speed showed by the people from Solitwork. We have not only seen the significant possibilities the AFC software provides us in the digitalization of our work-flows, but also how it can assist us in improving our overall service to our clients. I can highly recommend Solitwork and their Cloud platform, AFC Software.