The yachting sector’s first dedicated and fully automated APA platform launched yesterday (June 22nd 2020), offering a full-service solution for the management of APA expenditure.
Developed by Voly, the yachting industry’s leading multi-currency accounting solution, Voly APA is a standalone online and mobile solution that boasts full expense management with an integrated prepaid Mastercard that automatically synchronises directly to the platform and can be loaded instantaneously 24/7.
Voly’s ability to manage APA in real-time allows for expenditure to be approved prior to guests’ departure through a series of pre-defined reports with corresponding documentation. This not only negates the need for Excel and paper receipts but also greatly reduces the risk of human error or transactions being missed.
Expenses can be assigned to cost centres – with the ability to cross charge against operational spend – and invoices and receipts can be uploaded directly to the platform via a mobile, tablet or PC.
Voly APA also has the ability to record provisioning spend for upcoming charters, whilst managing multiple APAs and providing an automated calculation at the end of a charter, including any reimbursements.
Speaking of the launch, Voly Group CEO, Ian Flanagan said: “We are continually developing the Voly platform and after many conversations with our clients it became apparent that Voly APA was an essential extension to the brand.
“In addition to integrating with the Voly accounting platform, Voly APA is also available as a standalone solution, meaning it is accessible to any yacht, regardless of its current accounting system. What’s more, APA reports can be directly integrated into a yacht’s existing reporting suite when running a combined operational and charter vessel.”
Speaking of the inspiration behind Voly APA, Mr Flanagan continued: “It became evident that during a charter, providing real-time expenditure reports at any given time could be challenging. With our expenditure reports, captains can provide guests with complete and detailed reports before they depart.
“Voly APA provides a solution to the charter market to assist in the day-to-day management of charter expenses with all the benefits that existing clients have come to expect from Voly. I am confident that Voly APA is going to revolutionise the charter market now and well into the future”.
Founded in 2016, Voly’s accountancy solution is currently used on over 300 vessels and the chosen accountancy solution for over 20 Management Companies and Family Offices globally.
It has circa 2,500 high-limit, prepaid Mastercards in circulation worldwide and was recently named as the 2019 Winner of the Best Specialist Yacht Accounting Software Company in the Global Excellence Awards.