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Nomination for Containerisation International 2011 award of Innovation IT of the Year

SOLVERMINDS based in Chennai, India, global software Solution Company specializing in providing Enterprise Resources Planning (ERP) application solutions for container liner shipping and logistic industry, was short listed for the Containerization International 2011 Awards “Innovation IT of the Year” category for its contribution in developing innovative and unique process which automates, regulates and processes vendor payments based on activity based cost contracts, pre-billing automation based on activity cycle of laden and empty shipments.

Container shipping lines are increasingly under pressure to cut and manage cost efficiently. Earlier focus of shipping lines was on revenue and yield management based on average cost per activity. However now, with stiff competition between various shipping lines, revenue is always under pressure thus optimization and efficient cost management is paramount. Cost and vendor payment in ERP solutions based on manufacturing industry processes do not suffice the needs of shipping line. Thus there was a need for designing a unique process, based on activity based cost management system.

Realizing the need of the industry to efficiently manage the cost, SOLVERMINDS started the research & development by studying and consulting our customers and industry’s peers to revolutionized cost cycles processes. SVM CVP © Cost & Vendor Payment system was born in 2010. The system is a unique process which automates, regulates, and processes vendor payments based on activity based cost contracts, pre-billing automation based on activity cycle of laden and empty shipments. The solution encompassing solutions to manage various contracts as illustrated in figure 1 linking the process directly to operation activity reporting by various agencies located around the world was successfully deployed and roll-out to one of our customers United Arab Shipping Company S.A.G.

The solution was successfully implemented by United Arab Shipping Co Middle East Region. The project brief and benefits are summarized in the table below:

svm cvp benefits