Maestro is a group of companies with the Head Office in Switzerland and operating offices in Denmark, Australia and Cyprus. The Cyprus Company in Limassol is the first office to implement Eye-share handling around five thousand invoices annually for its managed fleet of twelve group owned vessels.
Preparation has been the tool for success. Our effort was to utilise the system potentials in the most effective and efficient way to fulfil our requirements. Initially our present procedures were mapped against the proposal of implementation of Eye-share making sure our main controlling points are accommodated. We also took the opportunity to visit one of Eye-share customers in Cyprus and have a remote walkthrough of a live system with another Eye-share customer from Norway which was very beneficial.
Within the Limassol office 19/22 person are using the system effectively. However, we believe that it is important for the ground work and persons responsible for Eye-share to work and test the system thoroughly before introducing others onto the system. This practice enhances ownership of the system and resolves most of the implementation queries beforehand.
Tool for managing the invoice approval process
Approval process is now on the system. A full trail is maintained on the system and invoices are classified under numerous status thus allowing users to follow up and managers to monitor the process. No more questions if an invoice has been received in the office, where it is, who is sitting on it, why it has not been processed, why it has not been booked.
Better traceability and audit trail
Invoices can be easily traced as the search function in eye-share provides numerous possibilities for finding an invoice. Eye-share also enables the monitoring of timely processing and provides justification for any invoices not finalised through the process e.g. if not approved or on hold to indicate the reason. With the integrated systems we no longer spend time on searching and physically retrieving records which could be a complicated process. Saving on storage is another benefit with Eye-share.
Ease of processing
With Eye-share it only takes minutes to process an invoice through the integrated systems as oppose to the previous manual processing which could take a lot of time and with the likelihood of manual errors.
We surely recommend eye-share Invoice – with no reservation – but it requires discipline and commitment from all parties, otherwise it won’t succeed.
Above was provided by Mrs Sandra Panayiotou-Senior Purchaser and Mrs Tassoula Tsakania-Financial Controller of Maestro Shipmanagement Limited.