Benefits from use of Open Accounting στην Aκτοπλοία

Client Stories

Hellenic Seaways
The problem

Open Accounting  ERP
The problem

As most ferry companies, Hellenic Seaways has special booking systems for processing its business needs (booking seats, issuing tickets), special needs for the financial monitoring of agents, the monitoring of supplies and payments of their suppliers and financial management, in general. Due to the constant changes in the business environment and the participation of major groups in its share capital, such a company requires constant support in order to fulfil its EDP and IT requirements.

The solution

During the last 3 years, Hellenic Seaways has increased its requirements in terms of process automation, IT systems interconnection, information through BI systems, work flow and EDP systems integration, to a large extent. Its objective is faster task implementation, immediate information and environmental-friendly operation (without printouts and total EDP), wherever possible.

 The Open Accounting business software and the EDP services of Open System Solutions contribute to the achievement of these targets on a daily basis:

  • Through the integrated support and programming services, the software interconnects the various business systems (for booking), in order to automate the settlement processes, the supplies invoicing and the update of the respective modules.
  • Through special apps on Application Servers, it communicates online with bank systems, by automatically entering the agents deposits from the banks and immediately updating booking systems with credit limits.
  • Through auto-invoicing, EDI, Workflow and automatic payments processes, it has automated financial processes to the utmost degree. 
  • Through the integration of document management systems, it has improved information.
  • With the machinery spare parts and materials supply management module operating in a Web Environment, and by using electronic offers evaluation processes and workflow systems, it has largely decreased the time required to complete orders, and it has improved the response speed of the supplies department.
  • Through the tickets statistics module, it is informed on the quantity and passenger traffic of ships per harbour, destination, company and other units of business activity.

Thanks to the aforementioned factors and OSS’ contribution, Hellenic Seaways has achieved the following:

  • significant decrease in occupation cost
  • better relationships with the transactors (suppliers, agents)
  • lower environmental footprint
  • higher speed and better quality of information

 General Remarks

It is a fact that Hellenic Seaways, through Open Accounting, consistently follows the International Accounting Standards, keeps track of multiple legal bodies, different accounting books (B’ & C’ categories, Law 89). In addition, it is checked on an annual basis by chartered accountants companies. Finally, the system is connected with BI AnalyticsΤargit. 

 As part of a survey on client satisfaction, Open System Solutions created a questionnaire form, in order to collect information on how satisfied they are with the use of the software. The results of the relevant research are summarized below:

  • Through the application of connection with banks, the company has freed up resources amounting to 2.5 employees per month and has improved its relationship with the agents.
  • Through the auto-invoicing application, the EDI application and the electronic approval of payments, it has freed up resources amounting to 1.5 employees per month.
  • Through the WorkFlow processes in the payment orders, the occupation time has decreased by more than 30%. 
  • The addition of the operational cashier flows module has improved the flow of information and has decreased an employee's working time by more than 10%.
  • Through the Workflow and EDI processes, the use of printouts and paper has decreased by more than 20%.
  • Through the integration of electronic documents, the flow of information was improved by more than 30%.
    • It has decreased the time required for completing an application by 2-3 days.
    • It has decreased printing by more than 10%.
    • It has improved the spare parts control by 30%.
    • The spare parts and materials supply module (online application entry, electronic approval by email, electronic offers evaluation and orders submission)
    • has freed up more than 3 man-days per month.
  • The electronic approval process for expenses invoices (suppliers) 
    • Has decreased the time required for approving an invoice by 2-3 days
    • has decreased printing by more than 10%
    • has freed up 3 man-days per month.

Questionnaire conclusion:

The modules integrated by Open System Solutions have resulted in the modernization of both the processes and the services we offer to our partners. It should be noted that there has been a significant saving in resources on the part of our clients/suppliers as well, which has enhanced our partnerships.

  • Benefits from the cooperation: we have been using the Open Accounting software and the Open System Solutions services for over a decade and we are perfectly satisfied with our cooperation. Particularly in the last three years, we have integrated many different applications in our main accounting program, which have led to improving the operations of the Financial Directorate and the Supplies Directorate, eliminating bureaucratic processes, as well as saving resources and time.
  • Main problems that have been solved by using the software modules: in addition to what we have already mentioned, there had been a problem about the prompt and correct information of the Management on many issues. Through the integration of the modules, information now takes place in real time and a clear idea of the company’s costs is available without needing to issue and register the suppliers’ invoices; thus, it is possible to take the respective business decisions on time.
  • Business processes that have been enhanced by implementing the Open Accounting solution: the use of the new applications has simplified the more correct financial management, budget monitoring and debit balance control.
  • What we liked most in the software: the simplicity of use and the flexibility it provides, in terms of both its management and its adaptation to all the remaining IT systems of our company.

 Handrakis Stelios

Treasurer Hellenic Seaways Μaritime S.A   



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