Technology continues to transform the maritime industry , and HarborLab is leading the way with its innovative artificial intelligence (AI)-powered disbursement tool , HL AI, designed to optimize port cost management. This new feature promises to increase transparency, efficiency, and cost reduction in disbursement account (DA) management, a crucial aspect for shipowners and vessel operators.
The need for change in the industry
Traditionally, shipping companies have faced challenges related to a lack of transparency in port expenses. Many of these processes were outsourced to low-cost operations, but with an average annual cost per ship of $2 million, relying on external operations was a high risk.
To address this issue, HarborLab has integrated artificial intelligence into its platform to give vessel operators complete control over DA approvals without adding additional workload.
How does the HL AI disbursement tool work?
The HL AI tool enables automated verification of charges and negotiates directly with ports on behalf of the operator, ensuring that rates are accurate based on the most recent official port tariffs.
Thanks to its color-coding system (green for correct charges and red for discrepancies), users can quickly identify any irregularities and make decisions based on clear, detailed data.
Additionally, one of HL AI ‘s major advantages is its ability to instantly translate tariff documents , allowing users to review port tariffs in their preferred language. This feature facilitates a faster and more accurate understanding of expenditures, speeding up negotiations and streamlining the disbursement approval process.
Advantages of AI integration
Key benefits of HL AI include:
- Transparency and complete control : Users can review expense calculations in detail and ensure they comply with official rates with just one click.
- Automation of disbursement verification and negotiation : Reduces the need for manual intervention, increasing efficiency.
- Adaptability : Operators can train AI to improve its results based on their specific needs.
A more efficient future for the maritime industry
With over 1,000 port calls handled annually by each HarborLab user, HL AI promises to transform the way vessel operators manage port outgoings.
This solution, now available on the HarborLab platform, paves the way for greater efficiency and transparency in one of the most crucial areas of the maritime industry.
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Source: HarborLab
Photo: Shutterstock
