Voly Group launches its all-new Voly Projects Integration for the refit and new-build industry.
Voly Group, the leading financial management platform for the yachting industry, continues to expand its services and capabilities. In 2023, it acquired Pinpoint Works, which turns a superyacht’s general arrangement into an interactive work list management platform designed for refit and new-build projects.
Voly’s Projects Integration module is more than a time-saver; it reduces administrative burdens, enhances transparency and offers instant insights into project timelines and budgets. Management companies, builders, technical teams, captains and family offices can easily manage multiple refit and new-build projects simultaneously with live financial updates. The module enables managers to track and manage tasks, budgets and payments with real-time budget alerts.
Users can assign jobs to expenditures within Voly for accurate cost tracking while spending data is instantly sent to Pinpoint Works. With Voly’s approval workflows, project costs are easily managed, and invoices can be created from the work list. The integration reduces data-entry errors and offers live project reporting for visibility on overspending. Users can access the Pinpoint Works fleet dashboard for comprehensive multi-asset management.
Since its launch in 2016, Voly Group has expanded to offer accounting software for managing properties, aircraft and other family office assets. Its latest acquisition connects the Voly Group platforms, integrating with the Pinpoint Works platform and enabling clients to connect and streamline their refit and new-build projects with live, real-time financial reporting, including all accounting, card, cash, banking and foreign exchange transactions. This is a first in the yachting industry.
Voly Group is the only multi-currency accounting software specifically for yachting and features a fully integrated prepaid Mastercard and FX payment system. The Voly FX Payment Platform offers a seamless multicurrency service, allowing users to make payments in 26 currencies directly through the Voly platform. Users can pay everything from suppliers, crew salaries and staged payments directly from Voly, saving the vessel significantly in foreign exchange fees with Voly’s competitive rates. More than 1,300 superyachts use Voly for their financial management needs.
After working with management companies and witnessing how often refit and new-build projects exceeded budgets by as much as six or seven figures due to delayed spending updates, Voly Group realised the need for real-time access to spending during these projects. With management companies sometimes tasked with overseeing multiple refits simultaneously, integrating Voly Group and Pinpoint Works offers a solution to combine task management with financial oversight. This allows for real-time financial reporting, giving users complete visibility over spending at both job and project levels. Captains can monitor live budgets and running costs, accounting teams can deliver accurate reports and management companies can efficiently track yacht owners’ finances.
“We’ve worked with our clients and respected experts from the refit and new-build industry to create a unique integration designed to transform the refit and new-build industry,” says Ian Flanagan, Voly Group CEO. “There is nothing else out there quite like what we have built. Since starting Voly, the number one goal has been to deliver and continue to deliver products that enhance the experience for all crew, management and owners. We will continue to ask our clients what we can do next.”
Stuart Boyd, business development at Voly Group, says: “The new Voly Projects Integration module offers huge potential for captains and management to free up time by removing a large quantity of paperwork and financial reconciliation, while providing real-time insights to assist with managing project timelines and budgets for the refit and new builds.”
The Projects Integration module – Voly Projects – is available through Voly Accounting Software, which can be added to any Voly subscription. Both Voly and Pinpoint Works clients can upgrade to access the module, with the first stage expected to roll out in Q4 this year. To find out how Voly Group can save you time and money on your next refit, visit volygroup.com and pinpointworks.com.
Sponsored content created for Voly Group