Yacht management companies oversee a wide array of operational and administrative tasks related to vessels under their care. Because yachts are sophisticated pieces of machinery requiring diligent maintenance and supervision, yacht management requires a high degree of coordination. As such, private owners often hire yacht management companies to handle one or more aspects of yacht ownership. In turn, yacht management companies strive to serve as strong representatives of yacht owners that take the administrative burden off them, so that they can enjoy their yachts. The job requires great commitment, transparency and quality of service.
Among many others, yacht management companies typically offer the following services:
- Sale and purchase
- Yacht charter management
- New build consultancy
- Technical management
- Operations management
- Crew placement and management
- Safety and Security
- Insurance and claims consulting
- Accounting and budgeting
- Regulation and compliance management
- Registration and flag state issuance
The range of services a yacht management company offers depends on several factors, including its size, scale, business model and the type of vessels it handles.
The challenge that yacht management companies most commonly face is that the maritime industry does not have the right tools to enable yacht owners, management companies and other service professionals to collaborate efficiently to address and overcome vessel-related issues. Due to the lack of reliable and efficient tools to manage the wide range of needs within their fleets of vessels, yacht management companies often suffer from operational inefficiencies and cost disadvantages.
VesselWise brings a technology-driven solution to this problem in the form of a software platform that enables all users involved in the vessel-management process to communicate in an efficient, transparent manner as they coordinate solutions to vessel-related issues. VesselWise finally addresses a common challenge faced by yacht management companies by streamlining operations management.
- Surveyors: The VesselWise mobile app is a unique and powerful, yet easy-to-use tool which allows surveyors to conveniently capture issues on board.
- Captains: The VesselWise mobile app allows captains to manage crew, schedules, calendars, tasks and operations, as well as capture any issues on board and report them directly though the app.
- Managers: The VesselWise web platform allows administrators to invite surveys and then track, manage and close open survey items as issues are resolved. The platform’s complete task and operations management module greatly streamlines warranty management and maintenance.
Through better coordination of all maintenance-related tasks, yacht management companies can improve their operational efficiency and better serve their clients.
For more information about VesselWise, send us an inquiry to find out how your yacht management business can streamline operations to improve profitability and customer service.