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Advanced Marine Boosts Cash Flow and Customer Satisfaction; Gains >99% Inventory Accuracy

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About Advanced Marine Pte Ltd

Established in 1979, Advanced Marine Pte Ltd is South-east Asia’s leading supplier for quality commercial diving, survey, ROV and subsea equipment.

True to their motto 'The Total Service Company', Advanced Marine also provides their customers with end-to-end services such as consultation, PVHO and dive system engineering, sales, rental and back-up support.

Currently Using: SAP Business One

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The Problem

Advanced Marine wanted to improve their competitiveness in a challenging industry. Greater inventory visibility and tracking for example, would boost their ability to anticipate and meet customer demands quickly. They also wanted to boost cash flow by timely, accurate invoicing to customers and monitoring Accounts Receivables more closely.

However, their old financial system was unable to meet their needs. In addition, their POs were done separately on Excel. This led to lower productivity, with more time spent on data entry, reconciliation, and manual tasks than necessary.

In 2013, Advanced Marine sought AFON for a modern, user-friendly enterprise resource planning (ERP) system that could seamlessly integrate their functions for greater efficiencies.

The Goal

  • Speed up their Accounts Receivables processes to improve financial accountability
  • Spend less labour and time resources on creating reports
  • Reduce manual work and hard copies production
  • Improve inventory reporting and tracking accuracy
  • Reduce bad debt and outstanding rental payments that were caused by systemic inefficiencies
  • Better visibility and real-time accessibility to data, to improve customer response times

Advanced Marine is a veteran presence in the marine & equipment rental business. With over four decades of experience in the region, the company has built up a notable reputation and customer base that includes major international offshore diving contractors and numerous projects under LTA and PUB in Singapore 

Faced with growing uncertainties in the industry (e.g. unstable oil market performances), Advanced Marine knew they had to improve their internal efficiencies. Areas they looked at included:

  • Replacing their outdated financial system and PO tracking via Excel with a modern, real-time ERP system to boost data accuracy and reduce tedious manual work
  • Streamlining reporting by reducing resources needed and doing away with unnecessary data siloes e.g. using Excel to run their POs separately
  • Improving inventory tracking in real-time to anticipate and respond to customers confidently, using data-backed decisions
  • Managing their accounts receivables more efficiently to improve cash flow and outstanding rental & maintenance payments collection 

"We're involved in vessels, where we top up their spares and systems when needed. A lot of 'fortune-telling' is involved in anticipating what kind of work is out there, and where our customers are," says John Zwiers, Commercial Manager. "The better informed we are, the better we can anticipate this."

In 2014, Advanced Marine chose AFON to deploy SAP Business One, which they liked very much for its real-time financials and inventory functionalities, rental maintenance capabilities, and user-friendly interface.

With SAP, Advanced Marine can now track every transaction of rental and services, as well as goods — their inventory accuracy had improved from 80% to over 99%. They're also able to manage their financials and quotations in real-time and across devices.

By consolidating their processes in a systematic way, they could optimise their workflow. This improved their responsiveness speed and timeliness to customers.

"SAP Business One has helped us tremendously. Now with all the data in our system, we can tell how much spare inventory we have and which is in demand. We can also easily track their movements in a report, which strongly helps us in deciding what and how many to order," says John.

He also adds that he's very contented with AFON's SAP support helpdesk.

"AFON doesn’t walk away from problems... If you've issues with something, you know you can contact them and their SAP helpdesk will respond back quickly, even if they're busy," says John. "They've been a great help."

The Result

Advanced Marine improved their financials and inventory efficiencies, as well as rental maintenance management. This has helped them sharpen their competitive edge in a highly challenging industry.

 

Inventory Management Accuracy
Customer Satisfaction
Bad Debts From System Inefficiencies
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"AFON doesn’t walk away from problems. They'll stand by your side to get it resolved..If you've issues with something, you know you can contact them and their SAP helpdesk will respond back quickly, even if they're busy."

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John Zwiers
Commercial Manager, Advanced Marine Pte Ltd

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