Information Technologies Destined to Impact the Marine Industry
Information technology is rapidly improving and many of those improvements are destined to change the marine transportation industry. There was a time when technology solutions were a “nice to have” for operators, but increasingly, they are a “must have”. With increased competition, tighter regulations, and operational challenges, it’s more important than ever for operators to contemplate and adopt these technologies.
The Public Cloud
The public cloud offers a wide variety of affordable and reliable services marine operators should be aware of. Lifting and shifting on premises servers, applications, and business tools to the cloud can have a positive impact on productivity, reliability, accessibility, and profitability. These offerings include cloud based servers, compute time, networking, storage, mobility, websites, databases, business intelligence, EDI, security, remote monitoring, and more. While the term “public cloud” can lead to concerns over security, your data is usually more secure in the cloud than in your office.
Advanced Analytics and Machine Learning
Companies across industries are gaining unparalleled insights and competitive advantages by mining large volumes of complex data. Older, retrospective technologies, such as business intelligence and planned maintenance, are giving way to new technologies, like machine learning and predictive analytics. These technologies offer the potential for new discoveries, improved services, and better customer experiences.
Internet of Things
As vessel connectivity becomes more reliable and less expensive, operators are beginning to look at their vessels in a new way. Vessels are often a company’s most valuable assets, the place where business transaction are happening, and where the bulk of its employee’s work. Companies often recognize the benefits of connecting terrestrial branch offices via their network, but increasingly they see the value in connecting the vessel “branch offices” too. A robust data pipeline between your vessels and the office can drive improvements in operational efficiency, billing automation, customer service, compliance, safety, and maintenance.
MarineCFO’s Vessel 365 exceeds all the SubChapter M recordkeeping requirements both as a Towing Vessel Record and as an alternative TSMS recordkeeping solution. Because Vessel 365 stores SubChapter M mandated “objective evidence” our solution helps minimize the towing operators’ exposure to Jones Act litigation. Statutory entries for chronological vessel activities, personnel, safety, fire systems, navigation, assessments, nonconformities, & document management are all included in the Vessel 365 feature set.