More yacht owners, and yacht management companies, particularly those that own or operate large luxury motor yachts are realizing the many advantages of yacht management software. Running and maintaining a motor yacht, especially once you get into those approaching or in the superyacht category, is increasingly complex. Both the yachting industry and management software developers have been embracing yacht management software.
“The popularity of management software in the superyacht industry is increasing out of necessity,” explained James Stockdale of Pinpoint Works. “The bureaucracy involved in the day-to-day running of a superyacht is extensive and there has long been a growing need to help manage the endless amounts of paperwork. As the logistics of managing these vessels grows ever more complex with new rules and regulations, such as MLC implementation and STCW 2010 Manila amendments, it is more important than ever to streamline the business practices of superyachts.”
Yacht management software isn’t only about making it easier to comply with rules and regulations. It is becoming much more common for leasing companies, charter income programs, and even insurance companies to require that yachts have a verifiable planned maintenance schedule in place. Yacht management software is the easiest way to do so.
What Else Can Yacht Management Technology Do?
Yacht management software such as FYM’s own “On Demand Yachting” solution is designed to streamline every task related to the operation of your motoryacht. Our solution is a fully integrated technology platform that allows you to login to your own secure dashboard and monitor any and all work being done to your vessel in real time. You can approve or reject estimates, track maintenance history, schedule owner usage, and so much more.
Beyond tracking and scheduling your vessel’s maintenance and repairs, a good yacht management software solution will also allow you to:
- Schedule and monitor all tasks for your crew.
- Manage all of the yacht’s, passenger’s and crew’s documentation, and update as needed.
- Store and organize all critical operations and registration documents.
- Keep and manage all necessary safety information for regulatory agencies, and be able to provide it in simple reports as necessary.
- Accomplish simple and complex accounting and bookkeeping tasks, including crew payroll, and any transfer of funds between operational departments.
Future Developments in Yacht Management Software
Certainly there has been growing recognition of the value of yacht management software. So what does the future hold for both the yachting industry and software developers? Captains and owners have said they want to see platforms that are more user friendly, and that have greater integration. Developers expect to respond to those demands with new and improved digital platforms that will be able to process, filter, and access information more efficiently. The future of all management software will be to aim for seamless integration with smartphones and other mobile devices, real-time insights, analytics, and greater data collaboration.
Organization is Key
The main advantage of yacht management software is, it helps to get you organized and keep you organized. All of the data pertaining to your motor yacht is in one, easily accessible place. Relevant reports can be generated and printed out or emailed to owners, crew, or any regulatory agency as needed,
But more than keeping you organized, management software also keeps you in control. There are yacht owners who realize the advantage, but are reluctant to hand their precious vessel over to a yacht management company because they are just not sure “what they are going to do, or how they will treat her.”
Yacht management software, such as our On Demand solution, removes any of that doubt. It makes the process of yacht management completely transparent to the yacht owner, and ensures open and honest communication between the owner, crew, and the yacht management company.
Avoiding mistakes when hiring crew for your yacht can be challenging. If you would like to benefit from our expertise in these areas, or if you have any questions or comments about this blog post, do not hesitate to contact our Yacht Management specialists, or call us at (855) 318-6328.