When every vessel is a mobile, multi-million-dollar business, you need systems and services that can support operations in a unique set of circumstances.
Our new, free guide can help.
We’ve drawn on our experience working with some of the world’s largest superyachts – both charter and private – to outline 12 ways to world-class yacht operations. The guide looks at ways to support or improve:
- Guest services
- Payroll processing
- Reporting and admin.
Let’s look at one example…
4. Adopt cashless cruising
Some yachts still sail with a safe full of cash, in all the currencies required for the voyage.
Modern anti-money laundering regulations make that an ever-harder model to sustain. In many jurisdictions, it’s simply not possible to equip your captain with €50,000 or €100,000 in cash.
Nor is it desirable. The everyday world is increasingly cashless, especially as a result of the Covid-19 pandemic, and cashless cruising lowers operational risk, potentially reducing insurance premiums, too.
Using a widely recognised and accepted card improves accountability, transparency and your ability to account to clients for every dollar or euro spent on their behalf.
It also simplifies APA management and the captain’s administrative burden. Have separate cards for yacht operations and client APAs so that money never gets muddled.
“Cash is so messy, now. We steer clear of it almost entirely. We tell our crews to use their cards wherever they can. If they do need cash, they can withdraw it from an ATM using the Centtrip card, so it's accounted for. It keeps tracking and accountability high and hassle low.” – Rob Dolling, Director of Sales & Purchase, Management and New Construction, VERPEKA DOLLING
Other questions to consider include:
- Do suppliers of your critical services give you 24/7 support from real people who understand your world?
- Is there a way to process payroll that’s faster and more cost-effective for employer and crew?