Digitalizing manual invoicing and approval processes provides shipping companies with a better financial overview.
Operating a vessel involves many costs such as stores, fuel, lube oil, propulsion, catering, hull, navigation, survey, class and vetting inspections. Many of these costs are somehow technical related, but when analyzing the full OPEX, you also need to consider commercial costs such as crew expenses, travelling, transport, insurance and agency costs.
Technical and commercial costs are often managed in different systems, but with the new integration between S5’s Simply5 platform and SERTICA, you can cover all these costs in one system. The integration covers all aspects of the financial process including funding, coding of invoices, archiving of line-item invoice images, accruals and reconciliations.
Centralizing procurement in one system provides shipping companies with total transparency of agency costs and delivery. All invoices are automatically entered in SERTICA Invoice Management and you avoid unnecessary fees with S5 in charge of the financial hubbing.
Jason Berman, Chief Commercial Officer at S5 Agency World Ltd tells, “Digital approval flows with tolerance limits automates the entire process and shipping companies avoid repetitive approvals. With this new integration, shipping companies can truly benefit from a single system access point, which makes it easy to get a financial overview of shipping operations.”