Inchcape Shipping Services - Global Marine Management Company 2006
Inchcape Shipping Services has been awarded ITM's 'Global Marine Management Company 2006' accreditation. In announcing the award, Mr Patrick Sheedy, Media & PR Director for the Institute said: "The decision to accredit ISS with this award, follows an intensive research and selection process and is in recognition of the company's web-based applications, which provide users with the knowledge, and technological imprimatur to ensure optimal commercial performance."
Inchcape Shipping, the world's largest maritime services business, leverages its information technology to offer ship owners with a complete outsource ship agency service. This approach is novel in that whilst offering a service, which takes control of their complete ship agency business, it conversely puts the ship owner in complete control over their business decisions.
Instead of completing paperwork, ship agents type their reports directly into internet software which Inchcape hosts. Through a series of screens, the agents key in data about everything they spend connected with the port call. Ship owners can then see at any time on the internet how much their port calls are costing and how long the ships were held up, with reasons if the costs are higher than expected. Then they receive a single bill at the end of the month in a single currency.
By using 'Your-ISS’ they also gain the benefit of having Inchcape’s expertise cast a careful eye over the figures, flagging up if an agent has spent significantly more than would be expected. All of the Inchcape agents use the same accounting system, so it is a relatively simple matter to consolidate all of the spending onto a single bill, allowing for accounts to be created much faster, a crucial issue if certain documentation needs to be released before the shipping company can be paid.
Mr. Sheedy said: "By recognizing the importance of trade related services and the specific needs of the cargo interests, ISS provides a constant flow of up-to-the-minute information covering the cargo, ports and markets to enable charterers to satisfy their clients while maximising their own net revenues.
“In coming to their decision to accredit Inchcape Shipping Services with this award, the Awards Committee praised Inchcape for revolutionizing the ship management process with ‘Your-ISS dashboard’ suite. Through this range of Ship Management applications, Inchcape has gone beyond just reacting and reporting on factors affecting their clients operations, to enabling them to monitor their own operations world-wide, receiving instant alerts of any variance to the levels of operational and financial performance targeted, allowing them to proactively manage the total voyage."