Purchasing a yacht is so much more than just the initial price tag, due to the annual operating costs and unforeseen expenses; which is why a yacht should be operated and managed like any well-run business with detailed budget and defined procedures.
With multiple purse holders on a large yacht how can you truly measure the spend, easily authorise spend and keep expenses under control and verified?
Senior Crew members (usually Captains & Heads of Departments) need to have full visibility of all expenses per department at a glance and ensure that expenses are kept under control.
Having more visibility on expenses and budgets as well as on previously paid invoices, crew members become more efficient and more sensible to make rationalised expenses, with the possibility to compare supplier’s costs.
With DEEP Blue software you can allocate the annual budget with a customizable Chart of Accounts, which allows each Crew to know how much they have to spend in each category. Authorised users with access to the finance module of the software will also be able to view the budget left available when expenses are entered and deducted.
How can you control and validate expenses?
DEEP Blue gives the possibility to set a clear and transparent custom approval procedure. In real-time, heads of departments on-board can post quotes to be approved by management, the Owner and/or captain to obtain an instant green light validation to proceed with suppliers. The whole system can replace obsolete heavy emails, telephone calls and text message systems, proving more efficient, more professional and allowing each user to work faster.
With yachts on the move, different currency spends can sometimes be a difficulty for crew members. Using DEEP Blue software, you can custom build a banking structure including bank accounts in various different currencies. You can also record unlimited cash and card accounts for crew with user access permissions by position and name. This allows for any crew member to post their own expenses in the system on a day per day basis, with management levels following the operational expenses in real time.
Assisting with human resource recording.
As well as assisting with the financial aspects of operating a yacht smoothly, assistance is often required to assist with the human resources required to ensure that a yacht is well managed.
The HRM module of DEEP Blue captures all of this data in an easy to use interface allowing each crew member to access the platform where they can check published working schedules, request leave days, declare hours of work/rest and access history of their pay slips. Providing captains with not only time saving systems but professional frameworks to ensure that the complex environment of crew contracts, MLC rules and owners responsibility are fully covered.
How can you ensure your yacht is technically maintained?
When yachts are delivered by the shipyard without a planned maintenance program predefined, it is the owner’s officer’s responsibility to define the best possible planned maintenance system for all equipment on board.
DEEP Blue offers the possibility to custom-build a professional system bespoke to your yachts’ needs. Owners get the assurance that the yacht will follow best practices and standards, with the ability to extract very detailed maintenance history with attachments, including the proof and detail of all completed jobs. This documentation will prove essential during a Class | Flag | Survey inspections and fundamental if your yacht is put up for sale.