The time savings are enormous
Nymo has experienced time savings of 80 percent after implementation of the Invoice Module in eye-share Workflow. It has been a success story, says Head of Finance and Administration, John Åge Mjåland.
"There was a lot of skepticism when we first announced changes to our routines, but just three weeks after implementing eye-share Workflow, people were asking why we hadn't done this before. Simply put, it has been a true success story," says Mjåland.
Nymo processes 7.000 invoices annually and started using eye-share Workflow in September 2014.
Our goal was to automate the process as much as possible. As of March 2015, we have processed 3.200 invoices through the system, and only 14 invoices had to be done manually. This was in the transition phase during startup, Mjåland says.
"Usually, it would take 21 days to handle an ordinary invoice and 13 days to handle an purchase order invoice. With eye-share Workflow Invoice it takes 2-4 days to handle them all. The time savings are enormous."
Streamlining invoice processing across all locations
Nymo’s headquarters and main yard are located in Grimstad, Norway. The company also operates a large manufacturing facility in Arendal, along Norway’s southern coast, specializing in subsea units, as well as a smaller inland facility where Nymo first began its operations. All of these locations now utilize eye-share Workflow Invoice.
“In the past, we relied on a transport vehicle to shuttle invoices between our various sites. Today, everything is handled electronically,” explains John Åge Mjåland. “Previously, processing an ordinary invoice took 21 days, while purchase order invoices required 13 days. With eye-share Workflow Invoice, both types are processed within just 2 to 4 days. The improvement has been remarkable, and the time savings are enormous.”
As a key figure in a company serving the oil, gas, and process industries, Mjåland highlights the profound changes in their daily operations since implementing eye-share Workflow Invoice.
From manual paperwork to full control
"Manual paperwork was a significant part of our operations. We believed we had good control over our invoice processes, but manually entering and coding 7,000 invoices annually proved to be a challenge," says John Åge Mjåland. "Looking back, we can see that our control wasn’t as strong as we thought. Papers often got lost in the process. Now, with comprehensive logging, it’s easy to track any delays in payments. Today, we have complete control."
Nymo spent four months preparing for the implementation of the system, which went live on September 1, 2014.
"The final three weeks before the transition were hectic, but they were also a great learning experience for us. One of our key principles has always been to keep processes simple. Adding too many elements can quickly complicate things, and that was something we were determined to avoid."
Mjåland reflects on the effort and preparation, emphasizing that it was well worth it.
"The transition went very smoothly. Getting familiar with the system and integrating it into our operations was a major step forward. Eye-share provided excellent support and guidance throughout the process. Of course, there’s always some tension when adopting a new system, but Eye-share’s professionalism and support gave us confidence."
With eye-share Workflow in place, Mjåland highlights the benefits: "We now have far better control over our invoices. The system is incredibly time- and labor-saving. Overall, we are very satisfied."
