GL FleetManager - Financial management module
for shipping CFO's

Today’s challenges for CFO and Finance Directors

The tasks and duties for CFO and Finance Director in the shipping industry are manifold and getting more year-on-year. There is a whole bunch of new challenges to cope with as responsible for the finance community. New regulations on national and international accounting standards, new requests from shareholder as owners, private equity houses, pension funds or financial institutions, from tax authorities or auditors lead to the need to be up-to-date with your books and reporting requests continuously. On top of that financial management in shipping can be characterized by mid-sized organizational and business structures but showing the complexity of larger multinational corporations. This leads to the need to be highly flexible in setting up group processes and legal organization structures and to bear the day-to-day business of other group functions. Due to the increasing importance of professional management of fixed assets, intercompany transfers and loans, cash and currency management, ‘Quality Shipping’ means at first-hand high-quality financial management. The finance organization is not any longer ‘just’ a supporting function but is bringing real earnings by taking decisions based on best-in-class shipping decision tools.

Solutions from GL

The first module and also the backbone of our new ERP-FleetManagement platform is ready for deployment: the Finance module supporting Accounting, Controlling, Intercompany and Cash processes in all Finance departments in shipping companies worldwide.

GL FleetManager – Financial Management module is covering all needs from the financial community in modern shipping companies. It is suited for full-range shipping companies as well as operational ship management companies.

The software and service solution consists of the following modules which cover all important finance processes of shipping companies:

Accounting

• Multi-client concept: chart of accounts and accounting structure for each company / client possible
• Covers all relevant accounting standards (IFRS and local GAAPs by country possible)
• Automated posting of provision

Controlling

• Strong reporting functionality to cope with special requirements from all kind of shareholders
• Integrated view on all data sources through the finance module
• Create budget, build-up scenarios for business segments and do rolling forecast calculation

Cash Management

• Currency evaluation at periods-end automatically
• Automated rolling cash-flow forecast calculation and evaluation of exposures
• Multi-currency concept: handling several currency units in parallel and on-line currency adjustments

Fixed Assets

• Fixed asset register and automated transfer of assets between group companies
• Alternative depreciation tables for legal and tax law reporting
• Reclassification and revaluation of fixed assets

Intercompany

• Automated intercompany invoicing and automated consolidation process at periods-end
• Automated posting of intercompany loans and interests
• Intercompany reconciliation for unlimited number of legal entities

GL FleetManager – Financial Management module is based on a standard ERP technological solution from Microsoft (MS Dynamics AX) and adopted by our experts, which have designed a shipping industry solution building the core module for all other peripheral systems such as Technical Management, Purchasing, Crewing, Operations and Chartering.

GL your best partner

GL Maritime Software is the software provider and system integrator for the maritime industry. We improve our clients' processes and decisions in ship operations and fleet management onboard and onshore.

We develop market leading software products, provide implementation and integration services, training, technical and software support. With decades of experience and stability we offer you the highest investment security in the industry. With continuous efforts in research and development we offer you the latest functionality and technology to improve your competitiveness. With our maritime market focus we offer you the highest level of usability and simplicity to ease implementation and deployment. Being part of GL-Group we offer you close integration with tools and services you know from other parts of the group such as classification, consulting (GL FutureShip), training (GL Academy) and system certification as well as from other industries (Oil & Gas, Renewables).

How you benefit

By using GL FleetManager – Financial Management module you will benefit from:

• Proven standards processes based on a global ERP software solution and adapted and optimized by our shipping industry experts
• Independence from a proprietary software solution, that only the provider can support, by relying on Microsoft Dynamics AX
• Build-in of local (legal) requirements by country (i. ex.: all local GAAPs )
• Increased productivity and transparency and quality of data by simplified work-flow processes
• Easy-to-use handling of system with Microsoft look and feel to cope with rapid changing (ad-hoc) requests

One-stop shopping at GL

Ship Operational Software:

GL ShipManager , GL HullManager, GL FleetAnalyzer

Consulting:

Support in the design and implementation of fuel efficiency programs or innovative maintenance concepts

Training:

DPA, Hull Monitoring, ISM/TMSA, Maritime regulations

Certification:

IMO, ILO, ISM , ISO, ISPS amongst others