Operators and accountants can streamline the end-to-end voyage accounting processes by integrating their port spend management system with their voyage management system (VMS). This integration enables shipping companies to easily manage every voyage aspect, from agent nomination to balance settlements and voyage closing.
One significant advantage of deep integration is its ability to bridge the gap between the VMS and the port call management system. By updating the pro-forma and final port costs, operators can create or cancel port calls and update estimated times of arrival (ETAs) within the VMS. By using DA-Desk, these actions will automatically reflect, eliminating the need for additional data entry.
Managing disbursements benefits the bottom line
Efficient management of disbursements is crucial for optimising the bottom line. DA-Desk’s disbursement account processing service, PortSpend Management®, helps handle instances of overfunding, automating labour-intensive tasks. Decision-making information, cost management, and cost control are available online 24/7, minimising the need for manual input.
The DA-Desk System enhances the efficiency of disbursements and gives vessel operators complete control. Operators can effortlessly monitor disbursements, verify costs, manage documentation and rebilling, and review port call expenditures. Additionally, billing for cancelled port calls is accurately recognised and avoided.
DA-Desk’s payment processing services, PortPayables®, enable operators to take advantage of competitive exchange rates and favourable banking terms for agent and supplier payments.
Integrating the systems not only delivers financial and time savings for vessel operators but also offers the following benefits:
- Elimination of duplicate data entry
- 24/7 access to transactional data
- Improved consistency and data integrity
- Clear basis for recovering funds from overfunding
If you’d like to read more, make sure you check out our recent post on the best questions to ask when you choose a disbursement accounting automation partner.
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