What is Shipping ERP?
A Shipping ERP is an end-to-end system that allows marine companies to manage their shipping operations, and streamline everything from procurement, maintenance, crew management, risk assessment and compliance. It is a single platform that promotes better route planning and optimization, allowing companies to save costs and gain efficiency in their operations.
ERP software plays a pivotal role in the success of marine companies as it serves as the backbone of their operations. It provides a holistic view of the business operations, offers more efficient management of fleets, and supports quick decision-making. It empowers the crew to deal with real-world challenges, and reduce delays & errors.
A Glimpse into the Indian Shipping Industry
Shipping businesses are task-intensive industry and also one of the largest growing industries in the world. Over 80% of transportation and trade is carried via shipping and logistics. Without shipping, import & export of bulk goods & amenities across the world would not be possible.
Shipping is a very crucial and important industry when it comes to transportation of goods and material from one location to another. It is the cheapest and natural mode of transport available in today’s world for bulk shipping and transport.
When it comes to movement of the material from one country to another there are a lot of processes which need to be taken care of. From documents, to tracking, to delivery of the material, everything needs to be tracked.
« You can also read:- Logistics vs Supply Chain Explained »
Challenges faced by the Shipping Industry
- Higher Costs: Administering a shipping business is becoming significantly costlier with increasing costs for building infrastructure, building vessels, adopting new technologies, and employing qualified staff.
- Higher Fuel Costs: The increasing fuel costs are adding to the pressure on shipping companies and posing a significant challenge to their business operations.
- Safety Hazards: Indian shipping companies have to adhere to stringent safety standards to safeguard the lives of various stakeholders, from seafarers and passengers to coastal residents.
- Regulatory Compliance: Shipping companies have to strictly adhere to regulatory compliance, failing which they risk penalties, fines, lawsuits, and other consequences.
- Data Insights: Shipping companies have to proactively track and prevent spills & leakage of hazardous chemicals, which can pose harm to humans and damage the environment.
How Shipping ERP Transforms Business Operations?
Shipping ERP is the backbone of the shipping industry as it supports various business-critical operations and paves the way for more profitability in their operations. Let us discuss some of its strategic benefits for your shipping business:
-
Centralized Data Management
Shipping ERP consolidates data from various sources such as the crew & operations team, financial team, maintenance staff, and more. This helps gain access to real-time information and supports better decision-making.
-
Crew Management
Shipping ERP promotes a smooth flow of information and enables smooth & efficient scheduling of crew to reduce delays and disruptions. It provides a centralized platform to manage and allocate human resources to gain more efficiency in the operations.
-
End-to-end Regulatory Compliance
Shipping ERP system streamlines the project tracking, budget planning, and streamlining of financial statements. It reduces complexities in the financial operations, allowing businesses to ensure audit-readiness and adherence to regulatory standards.
-
Vessel Scheduling
Shipping ERP system reduces human intervention in scheduling vessels, maintenance & repair, and various other operations. This helps companies reduce human errors, minimize delays in the vessel operations, and coordinate activities efficiently.
-
Risk Assessment
With Shipping ERP, your business benefits from better safety and security adherence and compliance with the best industry standards. It is vital for the protection of your crew and assets in a highly complex & risk-prone industry like shipping.
Key Features of Shipping ERP Software
Shipping ERP handles various complexities of your business operations and lets you focus on what actually matters. Here are some mission-critical features of a shipping ERP system:
- Multi-currency Exchange Rates: Provides real-time currency conversion and reduces human errors & complexities in international transactions.
- Rate Shop Comparison: Supports efficiency in business decision-making with easy side-by-side comparison of different carriers.
- Up-to-the-Minute Insights: Supports real-time vessel tracking. Provides up-to-the-minute insights into changing weather conditions for better risk assessment and reduced delays.
- Vessel Performance Tracking: Real-time vessel tracking allows you to identify key areas of improvement and minimize costs.
- Key Performance Indicators (KPIs): Track engine speed & efficiency, and fuels, for better route planning and optimization.
- Cost Control: Allows real-time tracking of fuel, vessel repair & maintenance, budgeting, and financial planning, all of which help reduce costs and stay within your budgets.
Streamline Your Shipping Operations with Sage X3
Shipping ERP plays a vital role in today’s highly complex and rapidly evolving shipping industry. It empowers your business with mission-critical tools to reduce costs, streamline operations, assess risks, and stay ahead of the curve.
Sage X3 is a leading solution built on a superior technological architecture. It unlocks a plethora of features to manage your business resources more efficiently, promote seamless coordination, reduce operational costs, and gain a sweeping overview of your business operations.
