3 Ways Yacht Management Software Makes Fractional Ownership Easier

Did you read OnboardOnline’s 1 August, 2014 post by Daniel Shea entitled Buying a Yacht: Has Fractional Ownership Found its Niche? It discusses the positives and negatives of fractional ownership, plus why the concept is currently more popular in the U.S. than in Europe.

One of the key points in the article is that "it’s more difficult to manage a yacht with so many different families and interests." So if you manage, captain or crew a fractionally owned vessel, you need to put a great deal of thought and effort into back-office management.

That is to say, you need to juggle the desires of multiple owners and families on one vessel.

It sounds like an impossible task, but that’s where a good yacht management program can keep things sorted so crew can do their jobs, keep multiple owners happy, and not go crazy in the process. Read on to learn what yacht management software can do for you in a fractional ownership situation, or even if your yacht is individually owned.

Here are three very basic things your yacht management software can do to simplify your fractional ownership experience:

1. Keep detailed information about each owner and their preferences.

Say owner X likes a certain type of wine on board, but owner Y only wants to stock German beer. Your management software can keep all that information sorted so that the crew is ready with the right products on board at the right time.

You can also attach important medical information to each owner’s profile, including medications used, personal medical histories and emergency contact information.

This type of information can be attached to crew profiles, as well. Documentation such as licenses, medical certificates and even passports and birth certificates can be scanned and attached to a crew member’s profile.  Captains and crew can be notified when a renewal date approaches so that During MLC 2006 inspections, yacht management software can let you quickly access crew data, making it easy to prove the age and identity of each crew member to inspectors.

2. Maintain inventories and purchase orders for each owner.

Not only does a management program keep a list of preferred items that each owner wants on board, but it also tracks usage, notifies crew when it’s time to re-order, and stores purchase order information. You can even generate a shopping list based on the owners’ preferences and automatically generate purchase orders. In fact, reports and lists can be generated by any data in the program. Those reports can then be emailed, printed, or saved for future use.

3. Create and store photographic records of each owners’ preferences.

Since a picture says 1,000 words, photos are an efficient way to prepare for a different owner’s arrival.

Yacht management software lets you take photos of owners’ quarters and decks and attach the photos to their profiles. Crew can just look at the program’s photo attachments to see how the owner likes things to be arranged and can more easily prepare all areas according to each owner’s preference before they come on board.

 

Of course, a good yacht management program contains other components, including:

• An equipment database

• A maintenance log and schedules

• Pro-active maintenance alerts

• An engineer’s log

• A ship’s log

• Task management tools

• Multi-currency accounting

• A document library, which can include ISPS and SMS code requirements, equipment manuals, crew licenses and anything needed to run your vessel

• Captain’s security access

 

Want to know more about how yacht management software can keep your vessel organized?

We'd be happy to give you a demonstration of Triton Administrator yacht management software. Triton Administrator is a comprehensive program developed by Great Circle Systems. If you'd like to discuss how Triton Administrator can be implemented on your vessel, click the button below and we'll get in touch with you. Or contact us directly by calling +1-530-546-3736, ext. 3 or emailing us at info@greatcirclesys.com.