International Seaways, Inc. is engaged in the ownership and operation of crude, product, and chemical tankers around the world. They commenced operations through their predecessor company in 2016 and currently own and operate a fleet of 76 vessels. International Seaways provides shipping services to customers through voyage charters, commercial pools and time charters.
Business Challenges
- Reporting Limitations – Finance teams struggled with inflexible E-Business Suite reporting tools that did not sufficiently support the business
- Changing Business Structure – After a divesture, company’s on-premise solution did not optimally meet the needs of the organization for scalability and flexibility
Solution
- Oracle ERP Cloud – Digitally transformed business using GL, AP, Fixed Assets, and Cash Management modules along with an Oracle PaaS interface platform
- Peloton Hybrid Delivery – Mix of on-site US-based resources and expertise from Peloton’s Global Delivery Hub optimized ability to execute and reduced project cost
- Oracle PaaS Interfaces – Line of business applications and ERP Cloud successfully integrated using Oracle’s PaaS interfaces
Impact
- Improved Invoicing Process – Previous invoice imaging process and application replaced with more streamlined, automated approach
- Enhanced Scalability and Flexibility – Move to the cloud led to a system and process that better supports the changing dynamics of the business and allows for future customization
- Superior Reporting Capabilities – Better integration and more detailed data availability allows the business to look at performance through multiple lenses and derive important insights to make key management decisions
