Voly partners with industry-leading superyacht company

Voly, one of the leading FinTech companies operating in the yachting space, has announced a long-term partnership with industry-leading superyacht company, Y.CO.  Y.CO and Voly have worked together closely at a key stage of the development of Voly’s accounting software. The challenger brand of the superyacht industry, Y.CO specialises in sales, purchase, charter, management, new construction and refit from superyacht hubs worldwide.

Voly provides yacht financial management and integrated accountancy solutions to over 200 yachts worldwide. The partnership with Y.CO will see Voly’s software, which is specifically designed  so that it is suitable to handle the financial complexities of managing vessels with multi-million pound budgets, being rolled out across the Y.CO managed and charter managed fleet. Y.CO yachts will benefit from Voly’s range of intuitive features, including prepaid cards and a mobile application for on-the-go expense-filing.

“Y.CO has always believed in using technology to improve the quality, timeliness and accuracy of information presented to owners and their teams, and to reduce the administration time spent by captains and crew,” says Charlie Birkett, CEO and co-founder of Y.CO. “Voly’s intuitive user experience and time-saving efficiencies are a perfect complement to our proprietary Y.CO Live system. It is a real-time system providing up-to-date financial information 24/7.”

“Feedback from captains and crew has been overwhelmingly positive,” says James Foster, Y.CO Finance Director. “While financial administration on board remains an important part of the job, eliminating onerous and manual tasks was a priority for us. We cannot make financial administration the favourite part of onboard life, but by automating much of the process we can ensure we make it as efficient and accurate as it can be, with reporting and financial information up to date rather than retrospective.”

The Voly system has already transformed accounting and expense management with current users reporting a time saving of over 50% each month, rising to 75% when users utilise the Voly prepaid cards. Critically, given the global nature of transactions, Voly has worked to ensure Y.CO and their clients continue to increase efficiency without compromising security by providing the highest standards of data protection.

Consequently, cyber-security has been paramount in Voly’s development. Ian Flanagan, Group CEO of Voly, explains “the Voly system is protected using a modern end-to-end encryption method to mitigate damage caused by data loss through transmission. From encryption to 2 factor authentication, our sophisticated security systems safeguard all our clients’ private information.

“Since our launch in 2016 we have rapidly established ourselves as a key provider to the superyacht industry. This partnership cements Voly’s position as the leading provider in this field and is a testament to the way we can mould and adapt our services and provide our clients with bespoke software to meet their unique requirements.”