Accounting
User Journey
Accounting strives to process transactions and payments in the timeliest manner possible. The voyage accountant is focused on ensuring voyage actuals translate to accurate invoices, accelerating monthly close, and keeping upper management informed of performance.
With dynamic P&L visibility, automated workflows, full integration with downstream systems, and robust financial analytics, the Veson IMOS Platform (VIP) allows voyage accounting professionals to accelerate processes and understand performance like never before. Let’s take a closer look.
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Take me back to all user journeys.
Maintain P&L visibility at all times.
As voyage actuals deviate from P&L projections, VIP provides voyage accounting a centralized P&L view that accounts for the financial impact of a full range of activities. Using VIP’s dynamic P&L, voyage accountants can quantify the variance between estimated and actual performance, access documentation needed to substantiate negotiations, and surface key cost drivers with the most significant impact on voyage performance.
Platform Highlights
- Maintain an up-to-date P&L at all times.
- Compare estimated and actual P&L performance.
- Access complete documentation and visibility into activities.
- Surface primary cost drivers impacting voyage profitability.
Centrally manage invoices through to close.
Throughout the voyage, accounting is responsible for managing the payments process for invoices created by operations. VIP radically simplifies invoice management by providing centralized visibility into a full range of voyage invoices and automating workflows based on each organization’s approval processes and business rules. Using VIP, voyage accountants can post transactions to their ledger accounts, track payables and receivables, and manage monthly close in a single intuitive workspace.
Platform Highlights
- Centrally manage every invoice, including freight, commissions, claims, and time charters.
- Eliminate manual data entry by automatically moving invoices from operations to financials.
- Tailor and automate approvals based on your unique approval processes.
- Post transactions, track payments, and manage monthly close in one intuitive workspace.
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Blog: The Value of a Digital Solution for Financials
Properly allocate revenues and expenses.
For many voyage accounting teams, properly allocating transactions and managing accruals are manual and time-consuming processes. With built-in line of business validation, streamlined journal workflows, configurable business rules, and automated accruals, VIP powerfully standardizes accounting workflows in support of improved accuracy, regulatory compliance, and operational efficiency.
Platform Highlights
- Define line of business for every transaction with built-in validation.
- Manage voyage period journals in one, centralized location.
- Streamline the allocation of revenues and expenses based on your business rules.
- Automate accruals with the push of a button.
- Ensure compliance with all applicable accounting guidelines and regulations.
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Persona Spotlight: Financials
Ensure data continuity with enterprise accounting systems.
Voyage accountants split their time between VIP and enterprise accounting systems and require complete data continuity between the two. With the ability to form intentional, bi-directional connections, VIP seamlessly flows data to and from enterprise accounting systems with no additional work on the part of the user.
Platform Highlights
- Seamlessly flow data to and from VIP and your enterprise accounting system.
- Save time by eliminating manual data entry and duplicate records.
- Flexibly configure bi-directional integration rules based on your unique process.
- Improve data integrity through standardization.
- Optimize cross-system connections with secure APIs and 20+ years of expertise in accounting integrations.
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Problem-Solution Brief: Disparate Data
Measure the metrics that mean the most.
Gain a full picture of financial performance and provide meaningful reports to management with built-in analytical capabilities, including robust reports for auditing, account analysis, P&L variance, bunker consumption, hire expenses, balance sheets, and voyage performance.
Platform Highlights
Access relevant analyses, including reports on:
- Audit Records
- Account Analysis
- P&L Variance
- Bunker Consumption
- Hire Expenses
- Balance Sheets
- Voyage Performance
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Brochure: VIP Analytics
Real insights from voyage accounting professionals like you.
We have shortened the time of the accounting closing process. Data integrity has now [improved] significantly. We can download dashboards with real-time data.
–Aruna Gollamudi, Director of Finance, Eagle Bulk Shipping
Life just got a little bit easier.
The Veson IMOS Platform is widely recognized for its robust capabilities, dynamic workflow, continuous innovation, and user-centered change management approach.
Are you interested in transforming your day-to-day workflow with VIP?
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