Client Spotlight: Norvic Shipping
How Norvic Shipping is Gaining a Competitive Edge with The Veslink IMOS Platform
As the shipping industry continues its digital transformation, industry innovators are leaning into technology tools that streamline workflows through connectivity and data automation. Taking advantage of technology’s power to drive efficiency and profitability is Norvic Shipping, a rapidly growing international dry bulk operator.
In 2014, Norvic Shipping operated 77 annual voyages; five years later, this figure is over 650. The driving factor behind this 700% growth is more agile and efficient voyage management. A user of Veson’s on-premise IMOSlive system since 2014, Norvic migrated to the cloud-based Veslink IMOS Platform in 2019 to increase operational efficiency through digitalization.
Majbritt Jacobsen, Head of Business Process & Applications at Norvic, explained that “a critical element behind the expansion of our partnership with Veson Nautical is that we see Veson continuing to invest in the development of the product and in maintaining a high service and support standard.” In an increasingly digital world where technology advances at such a rapid pace, maritime organizations rely on a software partner that is knowledgeable about real industry problems and dedicated to solving them in an innovative way.
The rapid growth that Norvic has experienced since first implementing IMOSlive in 2014, paired with growing complexity and technological advancements in the maritime industry at large, has resulted in a strong need for connectivity and data automation. “The ability to drill down in our data and present the findings in an intuitive format is becoming increasingly important in driving our P&L focus,” states Jacobsen. “The Veslink IMOS Platform provides this ability.”
Jacobsen noted the importance of connectivity as Norvic continues to grow; “one of our company initiatives is to provide universal access to business systems for our employees. This breaks down barriers for them to do business on an international level. Because of the benefits of the cloud, we can expect to grow efficiently by providing 24/7 system access and increasing in-house IT team efficiency with cloud updates and new features implemented automatically.”
Given the inherently international scope of the shipping industry, a centralized platform for real-time data aggregation and analysis across global counterparties is critical. This connection was a core driver in Norvic’s decision to migrate to the Veslink IMOS Platform. Today, Norvic is able to share data internally across chartering, operations, and financials departments and integrate external systems for data sharing, enabling faster and more accurate decision-making.
As a 100-person company making the switch to the cloud-based Veslink IMOS Platform (VIP), Norvic is well positioned to sustain their impressive growth through partnership with Veson Nautical. Going forward, Norvic is planning to incorporate more Veson solutions into daily operations, beginning with implementation of Veson’s Trading & Risk Module to aid in building out their risk department.
We at Veson are very excited to see Norvic Shipping adopt VIP as they continue to invest in digital strategies designed to support the company’s rapid growth. The Veson team looks forward continued engagement with our partners at Norvic as we collaborate to bring innovative solutions to the forefront of the shipping industry.