Mark Franklin

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Duplicate Invoice Payments Need Not Happen!

By Mark Franklin 2018-12-11 16:14:22

Duplicate payments on invoices occur far more frequently than most organizations realize. According to Concur.com, a typical small business processes approximately 450 invoices in a busy month and experiences an invoice duplication rate of around one percent. This doesn’t sound much, but it means about six duplicate invoices are received monthly. Some of these then get approved and paid, with a 2015 Infor.com study concluding that duplicate payments happen in up to 0.1...

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tanker

Discounts and Rebates

By Mark Franklin 2018-12-04 17:15:21

It is common business practice to offer rebates or discounts in return for volumes, loyalty or quality. In tramp shipping, it can be challenging to benefit from these, due to the unpredictable nature of trading patterns, as well as the complexity (and visibility) of the available discounts. The most common reductions are based on the frequency of calls. Many ports will offer a discount or rebate after a certain number of calls or...

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Da-Desk

Predicting Port Costs

By Mark Franklin 2018-11-27 02:00:48

There are inherent difficulties in accurately predicting the port costs, which forms a significant part of the voyage costs. The accuracy of these calculations gives the chartering team the ability to more precisely calculate the potential profit of the voyage. In some cases, large savings can be made by understanding what really affects the basis of calculations from the tariff. Firstly, it is increasingly apparent that these costs need to be analyzed at...

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