ESOF

Optimize Laytime Calculations

Many bulk freight businesses today have seen economic and social changes in recent years, which have impacted market dynamics and require businesses to perform at new levels of visibility, collaboration, and insight. The industry is considering how to reduce its operating costs and risk exposure to bulk freight supply chains.

Enqlares' Laytime calculation solution offers several advantages over traditional spreadsheet methods, enhancing the accuracy and efficiency of calculations. Our solution supports the main functions critical for an efficient Laytime calculation.

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Laytime calculations using spreadsheets vs. professional calculation software

Learn the benefits of doing laytime calculations using professional software and how much more efficient you can get in your daily work.

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CLIENTS

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Empowering features for effortless laytime management

Automation of Data Entry and Calculations

Automated data imports and standardized calculation templates reduce manual data entry. The system can pull in timestamps, port logs, and operational data from integrated systems or digital documents (such as statements of facts). This automation reduces human error, speeds up the process, and eliminates repetitive tasks, allowing teams to focus on higher-value activities like decision-making or managing exceptions.

Read more: How Port Agents can go digital with their Statement of Facts

Standardized and Pre-Configured Contract Terms

Allow users to pre-set contract-specific terms, such as exclusions (e.g., weather delays, weekends) or inclusions (e.g., agreed laytime allowances) for different voyages or clients. Once entered, these terms apply automatically, ensuring consistency.

Standardization means calculations adhere closely to contractual agreements without risk of misinterpretation, which is crucial in avoiding disputes and adhering to compliance standards.

Enhanced Accuracy with Built-in Validation and Compliance Checks

The system automatically applies validation checks, flags inconsistencies, and highlights discrepancies within data entries. Compliance rules are enforced as calculations proceed, which spreadsheets cannot do. Built-in validation ensures errors are caught early, improving accuracy and reliability. Compliance support is especially valuable in preventing calculation errors that might lead to financial losses.

Real-Time Collaboration and Accessibility

The system allows multiple users to access and work on calculations simultaneously. Cloud-based access allows stakeholders to review, comment, and update from any location, ensuring real-time collaboration. Faster, centralized access to data keeps teams aligned and removes version control issues. This is particularly useful for global teams or stakeholders across different time zones.

Comprehensive Audit Trails and Documentation

Every action taken within the laytime calculation solution is logged, creating a detailed audit trail that shows who made changes, when, and why.
Audit trails improve accountability and make it easy to verify calculations if a dispute arises. This is especially important for compliance and regulatory checks.

Integration with Other Systems

The solution can integrate with other shipping, accounting, or operational platforms, such as vessel tracking systems, port data, or ERP systems. Real-time integration means data flows smoothly between systems without requiring manual input. Seamless integration means laytime calculations are always up-to-date, improving accuracy and timeliness. Integration with invoicing systems can also expedite billing for demurrage or dispatch.

Scalability for Large or Complex Operations

Our Laytime calculation solution is designed to handle large volumes of calculations efficiently, allowing for rapid scaling across fleets, contracts, and operational changes. The solution can manage high volumes of data without slowing down, enabling businesses with large fleets or frequent port calls to process laytime calculations without bottlenecks.

Summary of Key Benefits

Efficiency Gains: Faster and more accurate calculations reduce processing time and allow for higher throughput.
‍Reduced Costs: Lower risk of errors and more accurate laytime management help avoid unnecessary demurrage costs.
‍Improved Decision-Making: Advanced analytics provide actionable insights for optimizing operations.

Overall, Enqlare's Laytime calculation solution provides superior control, speed, and reliability, allowing port agents, operators, ship brokers and charterers to manage laytime more effectively.

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