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Lubricants

On cloud nine?

B

By Alok Sharma, Head of Marine, Inatech

uying and selling fuel-oil is an leaving trading companies with an

extremely capital-intensive basis incomplete or out-dated view of their cash
thanks to high operating costs. As flow. In a global industry that operates

a result, many traders borrow millions of 24/7, out-of-date information is of no use.
dollars to finance their operations, The best way for trading companies to

repaying loans once they are paid by the get full view of their financial information
buyer. Treasury departments in fuel-oil is to use cloud-based software that

trading companies often manage multiple automates treasury processes. Software
credit lines from a variety of sources at can automatically update and integrate

one time. Often credit lines are in credit lines. It also allows treasury
different currencies and sourced from departments to compare different

different geographic locations, creating a sources of credit to choose the best

logistical nightmare for these treasury option, potentially saving millions of
departments.
dollars on the cost of credit.

This difficult situation is often Software can retrieve and analyse the
compounded by the outdated technology data needed for sophisticated financial

currently used in many treasury reports. All of this can now be done in
departments, with spreadsheets still seconds, rather than days. Sophisticated

commonly found. This leaves the company cloud-based software automates treasury
at risk of problems caused by human error, processes and offers traders a real-time

computer malfunctions or viruses.
view of their finances, which in turn
increases efficiency across the business, Large spreadsheets with vast amounts

saves money and makes compliance easier.
of information are cumbersome, often

Issue 62 2014
28 The SHIP Supplier