SalMar, one of the largest fish farming companies in the world, has been using eye-share for over a decade

Industry: 
Aquaculture

No. of employees: 
1 250

Head office: 
Frøya, Norway

About

SalMar is one of the world’s largest and most efficient producers of farmed salmon, with operations spanning the Norwegian coast from Møre og Romsdal in the south to Troms og Finnmark in the north. The company is self-sufficient in smolt production, utilizing the Rauma strain for broodstock. SalMar’s significant harvesting and processing activities are centered locally in Norway, with key facilities like InnovaMar on Frøya, InnovaNor on Senja, and Vikenco at Aukra. A pioneer in offshore farming, SalMar Aker Ocean operates innovative semi-offshore projects such as Ocean Farm 1 and Arctic Offshore Farming. Internationally, SalMar owns 52% of Icelandic Salmon AS, the largest salmon farmer in Iceland, and holds a 50% share in Norskott Havbruk AS, which owns Scottish Sea Farms Ltd—Great Britain’s second-largest salmon producer with operations in Scotland, Shetland, and the Orkney Islands.

Solution

SalMar implemented eye-share Workflow with the following modules: Invoice, General Ledger, Reminder, Report, Contract and Masterdata. The solution is fully integrated with their ERP system, Microsoft D365 FO and Maritech.

SalMar is one of the largest and most efficient producers of farmed salmon with an operational EBIT of 7.3 billion NOK (2015). The company has experienced significant growth since implementing eye-share Workflow in 2007.

“Since then, SalMar has become a completely different organization, both in terms of national presence, and in number of employees. The need for eye-share Invoice has only increased over the years. Being able to easily get an overview of running costs means that we can trust and are confident with our financial data, according to Tonette Bjørgård, Group Accounting Manager at SalMar.

Decentralized with a large invoice flow

All invoices in the company are sent to SalMar’s head office at Frøya outside Trondheim, Norway, where 600 of their 1,250 employees are located. 200 of them are eye-share Workflow users.

The farming operations are more widespread, with locations at the coast of Møre and Trøndelag in Western and Mid-Norway, and Senja and Finnmark in Northern Norway.

“All invoices are directed into the same electronic system regardless of where they come from, making it a very efficient process. Without a system like eye-share Invoice we would have had great difficulty in reporting our financial data. Since we are decentralized and have such a large invoice flow, the cost control would have been difficult to handle”, Bjørgård says.

Accountant and eye-share responsible in SalMar, Bente Reppe, lists more advantages.

“Now we’ve got an entirely electronic archive allowing us to look up exactly what we want, whenever we want, and this is a great advantage. eye-share Workflow Invoice is a good system to work with; it is user friendly and easy to maneuver. Simply brilliant”, Reppe says.

“The same applies for those of us who are reporting. Our finance function is decentralized and our accounting department is scattered across different geographic regions. With eye-share Workflow Invoice we have access to all documents regardless of where we are located, this is very important for us”, Bjørgård adds.

Low entry barriers

The company processes 50,000 invoices per year through eye-share Workflow Invoice.

“Eye-share has made a special customization for us to suit our trading business. We’ve also got extra functionality added to the search engine and to the invoice lines that we hope will streamline the process even further. Additionally, we use eye-share Contract, enabling us to look up invoices, contracts and other important document types in the same system”, Bjørgård says.

“eye-share Workflow Invoice is a very user-friendly system, and feedback from the users are all positive. It is easy to train new users and they quickly understand what to do and what not to do. They get used to it almost instinctively. Functions like accounting templates are very helpful for the users, and overall there is a low entry barrier for users to start using the application”, Reppe says.

SalMar is one of the largest and most efficient producers of salmon in the world. The company has production activities in both Central- and Northern Norway, as well as a substantial harvesting and processing activity at InnovaMar located at Frøya and Vikenco at Aukra. In 2015 the company had a turnover of NOK 7.3 billion, and an operating profit of NOK 1.4 billion. The company’s vision is “Passion for Salmon”, and SalMar aims to become the world’s leading fish farming company with focus on sustainability, animal welfare, technology, management, handling of sea lice and more.