Products
Module
MAINTENANCE
PROCUREMENT
CREWING
Products
MAINTENANCE
PROCUREMENT
CREWING
MANAGEMENT
Products
MAINTENANCE
PROCUREMENT
CREWING
MANAGEMENT
Create detailed annual or voyage based operating budgets for each vessel. Our system uses standardized codes for all major maritime OPEX categories—from crew wages and maintenance to insurance and port costs—but is fully customizable to match your company's chart of accounts.
This is the heart of the system. See your actual expenditure tracked against your budgeted amounts in real-time, for every vessel and every cost center. Drill down from a fleet level overview to a single line-item on a specific purchase order in just a few clicks.
Every purchase order raised in the Procurement module and every payroll run calculated in the Crewing module is automatically posted as a committed cost against the relevant budget code. This eliminates manual data entry and provides a true, up-to-the-minute picture of your financial position.
Instantly generate budget variance reports to see exactly where and why you are over or under budget. This intelligence is crucial for accurate forecasting, improving future budgets, and explaining financial performance to stakeholders.
You approve a $1.2M annual OPEX budget for the 'MV North Star.
The vessel requisitions $25,000 in spare parts.
The $25,000 is instantly shown as a 'committed cost' against the 'Spares & Maintenance' budget code for the vessel, and the remaining budget is updated in real-time.
The superintendent approves the purchase order.
You approve a $1.2M annual OPEX budget for the 'MV North Star.'
The vessel requisitions $25,000 in spare parts.
The superintendent approves the purchase order.
The $25,000 is instantly shown as a 'committed cost' against the 'Spares & Maintenance' budget code for the vessel, and the remaining budget is updated in real-time.
Gain real-time insights into budget allocations, expenditures, and balances— vessel by vessel, department by department.
Avoid overspending through proactive monitoring and alerts that help keep expenses within limits.
Access up-to-date financial data that helps technical and purchasing teams make cost-effective, well-informed choices.
Our system is multi-currency native. You can create budgets in your company's primary currency (e.g., USD), while purchase orders can be issued in any other currency (e.g., EUR, SGD). The platform can use a fixed internal exchange rate or integrate with a live feed to calculate the real-time impact on your master budget, giving you clarity on foreign exchange exposure
Yes. You can create specific, time-bound project budgets that are separate from a vessel's normal operating budget. This allows you to meticulously track all costs associated with a major event like a dry-docking—from shipyard costs to specialist technician travel—and compare the final project cost against the original plan.
By capturing highly detailed, structured data on your actual spending over time, the system becomes your most powerful tool for future forecasting. When creating next year's budget, you can instantly pull up the last 12 months of actual spending for any vessel or cost category, replacing guesswork with data-driven projections.
Our system is built on the principle of accrual-based budget management, which provides a true picture of your financial position. The moment a Purchase Order is approved, its value is instantly registered as a 'Committed Cost' against the relevant budget code. This gives you a real-time view of your future obligations. When the invoice is received and paid, its status simply changes to 'Actual Cost.' This allows your finance team to accurately forecast cash flow, knowing exactly what has been spent and what is committed to be spent in the coming months.
We have a dedicated 'Supplementary Budget Request' workflow for this. If a superintendent needs to approve a cost that will exceed the budget, the system will prompt them to submit a formal request. This request, complete with justification and supporting documents, is routed to a pre-defined approval chain (e.g., Fleet Manager, then Financial Director). Only upon digital approval is the budget for that specific code increased. This creates a fully auditable trail for every instance of additional funding, eliminating informal email approvals.
Our platform's dashboard is fully interactive. If you see a variance—for example, the 'Spares' budget is 15% over—you don't need to run a separate report. You can simply click on that line item. The system will instantly drill down and show you every single Purchase Order that contributed to that overspend, sorted by value. You can immediately see if it was due to one large, unexpected repair or a trend of smaller, accumulating costs. It turns a week of investigation into a 30-second inquiry?
Every financial transaction within our system has an immutable digital fingerprint. From the initial requisition by a Chief Engineer, to the superintendent's approval of the PO, to the final sign-off by the Fleet Manager, every step is time-stamped and linked to a specific user account. You can click on any expense and see its entire approval history instantly. This creates a culture of complete transparency and accountability, providing owners and senior management with total confidence in the financial governance of their fleet.
Yes, our system is designed with this flexibility in mind. You can configure the budgeting basis on a per-vessel level. For your vessels on long-term time charters, you can use a standard calendar (monthly/quarterly) OPEX budget. For vessels in the spot market, you can create specific 'Voyage Budgets' that track all revenues and costs associated with a single passage from start to finish. This allows you to accurately assess the profitability of each voyage, all while managing your other vessels on a different financial model within the same platform.
Move from looking at last month's history to controlling next month's success. Give your team the financial visibility and control they need to run a more profitable and predictable operation.
Schedule a focused demo of our Budget Management module today.
