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Integration of Unit4 Business World and Dataloy/Shipping

2 Unit4 Business World Dataloy/Shipping

Hanne Hovind has worked in various accounting positions in shipping for nearly two decades. In her previous job, she took part in the implementation of the Unit4 Business World (UBW) accounting system and the integration with the Dataloy Voyage Management System. This experience proved invaluable when she was brought onboard the Golden Ocean Management accounting team, which was heading into the very same process.

Golden Ocean Management

Hanne Hovind

Hanne about Dataloy:• One of the best Voyage Management Systems on

the market

• 100% integrated system – new input automatically updates all relevant data

• Flexibility to adapt system to our unique needs

• Friendly and efficient user support, particularly during the integration phase

Hanne about UBW:• Handles multiple currencies, com panies, countries

and financial reporting standards

• Agile to changing business system requirements, even after implementation

• System usability and training eliminate consultancy- dependence after implementation

Hanne about the Dataloy/UBW integration:– I have worked in this business long enough to know exactly what I want from an accounting system. I want nothing short of perfect integration with the Voyage Management System, and I want automated functionality without compromising control. The Dataloy and UBW systems combine the advantages of professional and highly specialised Voyage Management and accounting systems, with the seamless integration of one single, bi-functional system. The solution consistently provides

an exact input–output match, allowing for efficiency and great cost and manpower savings. The semi-hourly syn-chronisation is imperceptible, and system breakdowns simply don’t occur. The integrated Dataloy/UBW solution gives Golden Ocean Management an advantage in an extremely competitive, international market.

Golden Ocean Management Golden Ocean Management is a fully owned subsidiary of Golden Ocean Group Ltd (GOGL) and is handling all management services for the Group. GOGL is a leading international dry bulk shipping company mainly operating in the Capesize and Panamax segments.

K2 Shipping

Hong Xu, Chief Acc ountant, and Kjetil Nilsen, Financial Manager

Hong and Kjetil about Dataloy:• An efficient, fully automated

Voyage Management System

• Continuous live voyage results enhance control and overview

• Automatic integration with disbursement systems for easy DA import

• A comprehensive system with automatic accrual calculation and invoicing

Hong and Kjetil about Unit4:• Simple search functionality on

a number of dimensions

• Instructional user support that enables us to resolve similar issues independently

• Very reliable with no downtime

• A scalable system that supports our future business expansions

Hong and Kjetil about the Dataloy/UBW integration:– From previous experience with similar solutions, we were used to frequent, outrageous errors, like one transaction in the VMS turning into twenty in the account-ing system. We used to refer to these events as noise. With the Dataloy/UBW integrated solution, such noise is

unheard of. Instead, we are getting used to input being quickly and correctly reproduced across the systems. We are still discovering new ways to exploit the oppor-tunities offered by each of the two systems as well as the integration. We wouldn’t hesitate to recommend an integrated Dataloy/UBW solution to other marine man-agement businesses.

Golden Ocean Management Golden Ocean Management is a fully owned subsidiary of Golden Ocean Group Ltd (GOGL) and is handling all management services for the Group. GOGL is a leading international dry bulk shipping company mainly operating in the Capesize and Panamax segments.

Hong Xu has experience working with UBW accounting system from a previous job, and was recruited to K2 Shipping in order to help them implement the newly acquired tool. Kjetil Nilsen joined K2 recently. He wasn’t familiar with either one of the systems, but has experience from marine accounting and similar, integrated solutions. His role involves maximising utilisation of the Dataloy/UBW integration.

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Unit4.no

Unit4 ASGjerdrums vei 4Postboks 4244 Nydalen0401 Oslo, Norway

T +47 22 58 85 00 F +47 22 95 21 50E marked.no@Unit4.com

Unit4 Business World (UBW) and DataloyThe standard integration between UBW and Dataloy provides synchronized accounting attributes, for instance Vessels, Ports and Voyage numbers. It also ensures consistent use of currency rates, customers and suppliers. Invoicing takes place in Dataloy. All Accounts Payable (AP) and Accounts Receivable (AR) transactions are seamlessly transferred to UBW. In addition all payments information are transferred back, fulfilling the loop. After retrieving GL postings from UBW, Dataloy posts accruals and actuals in UBW. Accruals are automatically reversed the next period and replaced by updated accruals or actuals. This ensures that both Dataloy and UBW always are up to date. Besides eliminating double data entry it also allows coherent reporting from both systems and reduces the need for licenses and training of financial staff in the VMS and vice versa.

Dataloy Systems ASDomkirkegaten 35017 Bergen, Norway

T +47 55 36 03 00E info@dataloy.comW www.dataloy-systems.com