Klaveness Marine Holding is an investment company managing a portfolio of approximately $500 million in industrial and financial investments. Investments include active ownership of companies across the shipping, offshore, real estate, and cleantech sectors. We sat down with Asgeir Elvebakk, Head of Accounting, to discuss how Xledger transformed Klaveness Marine.
Xledger: So let’s start with some of the challenges. What were you facing when you chose Xledger?
Asgeir Elvebakk: For Klaveness Marine it was important to get an all-in-one solution. Increased investments in real estate and insourcing of real estate operations meant the need to make changes to the system side. In addition, we had several systems that needed expensive upgrades.
X: What drew you to Xledger?
AE: We chose Xledger because it was complex enough to handle a complex company structure with different needs related to widely different business areas. With Xledger, we could also achieve more standardization and improvement of our accounting processes, based on flow and automation. The solution is scalable and can handle large volumes. In addition, they handle multi-currency accounting.
X: And what happened after you chose Xledger?
AE: The IT structure of Klaveness Marine has been simplified considerably from day one. We got a better and more efficient flow in processes such as payment, voucher flow, billing, subscription billing for rent, follow-up, and distribution of common costs to tenants. The economy processes have [also] been simplified. The system shows good flexibility. Xledger is easy to use and intuitive to use, and it’s easy to correct errors. The finance department now spends much less time on routine work and can spend more time on value-creating work.
X: Thank you for taking time out of your day, Asgeir.
AE: Glad to.