Latitude365 is the first accounting software built specifically for superyacht Captains, Owners and Yacht Management Companies. It connects users onboard and in the office via secure synchronisation with an onshore server while allowing to work fully offline. As of today more than 100 yachts ranging from 20 to 140+ metres have chosen Latitude365 for its simplicity, robust multi-currency reporting and expense approvals system.
Unlike Quicken or any other accounting package, Latitude365 is a yacht management software that allows captains, heads of departments and office managers to work together and manage expenses as a team. That ability to seamlessly share information and track budgets in real time allows for true financial management, not just accounting at the end of the month.
Unique synchronisation process, bank-level encryption and not being accessible from the web like cloud-based software make Latitude365 the only secure way to seamlessly share sensitive financial information. In addition, the program is fully customisable to accommodate each yacht’s unique requirements: from custom expense categories, currencies and accounts to user access levels and permissions.
A testament to the functionality and need for the Latitude365, current client Fraser Yachts - who adopted the software in 2015 – states: “We compared Latitude365 to other commercial and industry-specific software that have financial modules. After a testing period we selected Latitude365 as it is a multi-user software that provides what we need for our processes while allowing full offline access. The software is easy to use for the crew and synchronises data securely between the users.”
Expanding on this as well as talking of the advantages and logicality of using this yacht management software, the brand’s CEO, Dasha Grupman, says, “An average yacht is incurring two to three million a year in expenses that is comparable to a medium size business. No business with such turnover would consider using Excel or personal finance software like Quicken (a program that is currently used on most yachts) to account for such sizeable expenditures.
“As yacht accounting has its very particular specifics and historically there was no tool that allowed to accommodate those specifics the industry used what it could make fit. Latitude365 is rapidly changing that with a tool built specifically for the yacht process.”
Founded in 2009 Latitude365 is a U.S. company with the main office located in Monaco and development team based in Germany.