Follow that Fish

The fishing industry is turning towards the integration of artificial intelligence (AI) to improve decision making in seafood processing and production. At Icelandic software company WiseFish, the future lies in their overarching seafood software that enables businesses to make the best possible decisions quickly. This shift towards AI-supported decision making is transforming the industry and providing optimal results in seafood production.

With 30 years in the industry, WiseFish has become an independent subsidiary of Icelandic software house Wise. The newly established company is under the leadership of Ingvar Vilhjálmsson, a seasoned professional in the seafood industry with a strong finance background, who assumed the role of spearheading the company’s expansion last year.

“The main goal behind separating the companies is to allow us to focus on the seafood sector and position the WiseFish software for greater growth in international markets,” says Ingvar Vilhjálmsson, CEO of WiseFish. “Our organization has doubled its workforce in the last year and is actively seeking to reinforce its standing in order to expand the software’s reach to a wider client base.”

Managing a seafood business can be complex. WiseFish aims to simplify the process by offering modules that manage the entire value chain, from sourcing to plate. The software provides tools for managing fishing, harvesting, processing, inventory, logistics as well as sales and purchasing, including vendor relationships and real-time information on incoming catch or orders. This results in improved traceability, easier implementation of quality standards and an automated flow of information throughout the business.

“WiseFish allows you to manage the entire operation from harvesting to selling and gives you complete overview of vendor relationships in real-time,” says Vilhjálmsson. “You can plan and control processing for maximum yield and efficiency, keep track of quality and ensure compliance with food safety regulations and certifications.”

WiseFish is developed and supported by a team of industry experts in multiple countries. Some of the largest seafood companies in the world have implemented WiseFish in their operations and it is in use in over 20 countries worldwide. Hallgerður J. Elvarsdóttir, Sales Manager at WiseFish estimates that between 80-90% of all catch in Iceland goes through the WiseFish system. “I have been with WiseFish for almost a decade and I’ve seen the software side of the seafood industry accelerate rapidly as producers want better information and better data integration to inform their decision making,” says Elvarsdóttir.

WiseFish is built on top of Microsoft Dynamics

365 Business Central, which is a robust enterprise resource planning system designed to support businesses in various operations including finance, manufacturing, customer relationship management, supply chain management, analytics and e-commerce. As a Microsoft Gold Partner, WiseFish software solutions have been developed and tested in the dynamic and pioneering Icelandic fishing industry, which has been at the forefront of technological advancement and processing equipment innovation for several decades.

“WiseFish leverages Microsoft’s automatic data encryption to ensure the safety of data against unauthorized access, making it a comprehensive and secure solution for businesses looking to streamline their operations,” says Elvarsdóttir. “In line with current developments, we offer a subscription plan that provides flexibility, customization and cost-effectiveness that meets the unique needs of the seafood industry.”

With WiseFish, businesses can take advantage of Business Central’s capabilities in the cloud to better connect financials, sales, service and operations to increase visibility, improve customer interactions and make better decisions. The software’s accessibility and consistency across platforms, whether on-premises or in the cloud, are further enhanced with features such as systems integration and automation, providing more secure and efficient data management.

WiseFish is deployed in the cloud on Microsoft Azure as companies are phasing out servers on-premises to streamline operation, secure data and lower costs. This way users can access and process data regardless of their location or device. WiseFish offers users a costeffective way to use their cloud-based apps, eliminating the need for costly hardware and software purchases. The software centralizes all information in a single database, streamlining processes and ensuring data is not duplicated. With embedded Microsoft 365, businesses can collaborate seamlessly and work more efficiently.

By leveraging the power of the cloud, WiseFish provides real-time data visualization, role-based workspaces and workflow guidance that enhances productivity and optimizes workflow processes. “WiseFish’s uniqueness lies in its overarching function,” explains Vilhjálmsson. “It provides a comprehensive solution for multiple, interconnected software applications to work seamlessly together. Our connected solution provides the speed, performance and insights needed to make your business vision a reality.” modules where necessary. This has strengthened our position and created very good cooperation with various vendors and equipment manufacturers in the industry.”

The Fishing module allows users to manage catch and quote information, complete crew settlements and track the size and quality of the catch. The Processing module offers warehouse management software that is developed for seafood producers, wholesalers and buyers. It includes all the time-saving functions of an exemplary warehouse application and more. The Trade module includes HACCP-compliant quality control and monitoring that helps seafood companies meet the most rigorous safety standards and certifications. WiseFish also offers other modules, such as the Export module, Logistics module, Peripherals, Connector, Aquaculture module and Quality monitoring module. Each of these modules provides additional functionality that helps seafood companies streamline their operations and improve efficiency.

“Our system can scale to support growth, whether it be a single user system or a large-scale enterprise solution,” says Elvarsdóttir. “With WiseFish, organizations can easily scale up or down according to their needs and pay only for what they use. They also enjoy the benefit of robust security without the added management burden.”

The system offers a comprehensive digital approach to managing the entire seafood value chain, from sourcing to serving. “Our system starts by following that fish from when it is caught at sea, whether it is caught with a net or a trawl, until it is sold,” says Vilhjálmsson. “We keep track of the entire process from the time the fish is caught, through the processing process, the sale, the distribution and all the way to the consumer.” All production data is entered it into the ERP system. The software is designed to calculate payments, salary, operating figures and profit margins.

The company also offers unique modules such as the Trading module and the Warehouse module, which have been successful in Norway and the Netherlands, respectively. “We have worked closely with our Norwegian customers to optimize the Trading module, which is being used independently by many businesses in Norway,” says Ingvar. “The same is happening in the Netherlands with our Warehouse module, where our clients are connecting it to their other software for complete, efficient inventory and warehouse management.” The system offers great inventory handling and tracking, and multiple ways of entering stock into WiseFish, including fishing trips and connected external production systems.

According to Elvarsdóttir, WiseFish connects all of the systems used in seafood production into a single system, from catch information, through processing and on to inventory, trading and logistics. “The software fully integrates with third-party systems and peripherals, allowing for the utilization of existing hardware and software investments,” says Elvarsdóttir. “We are flexible and want our clients to be able to use what they have, update what they need or bring in new

The subscription plans for WiseFish offer flexibility and customization to its customers. Monthly fees for software updates and service access provide enterprise-grade security, availability and flexibility. Users can also have a variable number of users each month, minimal installation and deployment costs and no capital-intensive upfront costs for software licenses.

“Seafood businesses that are looking to take control of their operations will find that our application provides full traceability of raw materials and products as they flow through the operations to customers. Built-in business intelligence allows you to predict sales using historical data and improve cycle times and financial closes,” explains Vilhjálmsson. “You can manage everything so much better with the automated information flow. With real-time data on product availability, you can better service your sales team and earn more business. The system’s order processing and supply chain overview put you in complete control.”

The use of AI, software and digital data collection is transforming the fish processing industry, enabling companies to optimize processes, improve quality and ensure sustainability. WiseFish is part of that revolution, collaborating with colleagues and companies throughout the industry to bring data to the forefront of fish processing.