OSM Thome optimizes invoice processing with eye-share

Industry: 
Shipping

No. of employees: 
31 000

Head office: 
Arendal, Norway

About

OSM Thome is a global leader in ship technical management, crew management, and marine services, formed through the 2023 merger of OSM Maritime Group and Thome Group. With 31,000 professionals worldwide and over 1,000 vessels under management, the company offers a full range of maritime services, including ship maintenance, port agency, and insurance. Committed to sustainability and operational excellence, OSM Thome continues to drive innovation in the shipping industry.

Solution

OSM Thome implemented eye-share Workflow, eye-share Capture and eye-share Portal with the following modules: Invoice, Invoice entry, General Ledger, Travel, Report, Purchase Match and Master data.

Watch their story in the video below.

From manual processing to digital efficiency

Before implementing eye-share, OSM Thome relied entirely on receiving invoices via email. This manual process was time-consuming and required extensive resources. However after migrating eye-share, the company now processes 80% of their invoices digitally, through eye-share.  

Significant cost and resource savings

The transition to eye-share has led to a reduction in manual processing efforts. OSM Thome initially had five full-time employees (FTEs) handling invoices. Today, they require only two FTEs, achieving a three-person reduction in workload., which translates to significant cost and improved efficiency. 

Automation for faster, more accurate invoice handling

One of the biggest improvements for OSM Thome has been the automation of XML invoices. 

"With eye-share Capture, we have completely removed the need for manual pattern recognition and interpretation. As a result, all XML invoices go directly into the approval workflow in eye-share, speeding up the process and reducing errors," says Niña Sheena Manalastas, who manages corporate accounts at OSM Thome.

Streamlining expense management with the travel module

In addition to invoice processing, OSM Thome has also benefited from eye-share’s Travel module, which is used to handle expense reimbursements. By implementing this solution, the company has cut manual processing time by more than 50%, freeing up accountants to focus on more strategic and analytical tasks.

"This has been a great help for our finance team. With less time spent on manual processing, our accountants can now focus more on analysis and financial insights," adds Manalastas.

A long-standing partnership

Having worked with eye-share for over eight years, OSM Thome continues to see eye-share as a valuable partner in their digital transformation. The automation and efficiency improvements achieved with eye-share have made a real impact on the company's financial operations, allowing them to operate more effectively in a fast-paced industry.

With a strong focus on automation and efficiency, OSM Thome is well-positioned for continued growth, and eye-share remains a key enabler in their journey toward smarter financial processes.