HOW DOES SOFTWARE PLAY A CRUCIAL ROLE IN THE SUCCESS OF CONTAINER LEASING COMPANIES?

HOW DOES SOFTWARE PLAY A CRUCIAL ROLE IN THE SUCCESS OF CONTAINER LEASING COMPANIES?

Container leasing operations are an intricate process demanding focused attention and execution by the leasing companies to deliver the best service to clients. As the shipping sector sails along turbulent times overcoming unprecedented challenges, there’s a renewed vigor to automate operations within all the allied sectors. Here, the container leasing companies are in the forefront harnessing the power of digital solutions.

 Essential features of powerful container leasing software mustsatisfy major facets of lease management, including:

  • Purchase to sale of containers.
  • Customer portal, mobile interface, business intelligence and finance integration.
  • Fitsall fleet sizes; optimized for large-scale leasing operations.
  • Customer strategy, credit ratings, lease expiry and container recovery.
  • Gate movements, estimates, EDI Data error correction.
  • EDI compatibility with smart alerts and heightened user experience.
  • Billing completion alerts, reminders for Tank test.
  • Booking and redelivery authorization notes.
  • Workflow-based approval & lease term tailoring.
  • Proficient document management including email spooler.
  • Generate reports based on templates.
  • Easy to track historical record on the movement of containers.
  • Adaptability to future needs to save costs in the procurement of advanced software versions in the future.
  • Automated billing and miscellaneous invoices – with or without containers.
  • Maintenance &Repair workflow, recovery, batch sales, DRV/NBV calculators.
  • Flexible with scalability as the organizations needs grow.

Other attributes of reputable software suppliers are domain expertise, dedication and professional approach towards customers. Business critical software solutions in container leasing should deliver critical functionality along with support that is vital to maintain smooth continuity in today’s constantly shifting business environment propelled by newly developing technologies.

 Container leasing is a principal component of the global liner shipping business, accounting for 52% of the global shipping container pool. Maritime operators, predominantly the smaller and regional lines, rely on leased containers for their needs.Shipping companies typically opt for leased containers if the need is short term, or when they are looking for flexible options to overcome the lack of capital required for outright purchase. The aggressive demand for leased containers is chiefly attributed to the rising international trade and commerce happening today. During the past several decades, the global trade output has been multiplying, and industry punditsforecast that this growth trend will continue, with a parallel rise in the demand for rental containers.

 How do leased containers prove more profitable for carriers?

Cost considerations

New containers are expensive, so ship-owners need to look at viable options, such as deploying used containers that can save substantial sums of money for the carrier.Another element that works in favor of using leased containers is that the leased container provider can meet the requirement of liners at most locations where there is a demand for containers, and so the liners themselves do not need to maintain storage facilities.

Remaining tuned to moreimportant aspects of the business

When you choose to use leased containers rather than purchase and own, you are saving capital for developing more crucial areas and pressing needs of your business. Owning containers and maintaining them can prove expensive as compared with leasing because you are paying only a rent for the period you are using the container before returning it to the owner. Leasing a container works out more reasonable than buying one when businesses constantly aim to conserve cash. Money spent on buying containers will prove productive when used for other important functions. Selling the containers after they have served their purpose does not ensure a good return on investment.

iInterchange Systems is a chosen software solutions provider for container depots and ocean carriers.

iCORAL from iInterchange is a total container leasing solution package optimized to administerthe key functions of container leasing companies. Developed for small, medium and large-scale operations, iCORAL incorporates all activities from procurement to sale of containers with its inclusive Lease Management Module. iCORAL is a web-based software solution that your offices world over can access via a subscription mode. Backed by a comprehensive after-sales-support, iCORAL is the product of a proven and tested architecture that has stood the test of time.

How about beginning a discussion on implementing a complete container leasing solution package for your company thatcomplements your company’s ongoing success while also expanding your business along the way?

 

Note:

We have sourced facts and figures for this blog from the internet.