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Effective budget control depends on anticipation, visibility, and accountability. PRIME Marine enables vessel operators to define realistic budgets, monitor consumption in real time, and respond early to deviations. By linking budgets to procurement, maintenance, and crewing activities, spending remains aligned with approved financial plans while preserving operational flexibility.
Vessel budgets are typically prepared annually and tracked through spreadsheets, quickly losing relevance as operations change. This makes cost control and variance management difficult for ship managers. PRIME Marine’s Budget Management Module creates a dynamic control layer by continuously aligning planned, committed, and actual costs across vessels and departments—delivering real-time financial visibility without turning budgets into an accounting exercise.
Talk to a PRIME Marine expert to find the best solutions for managing your vessels.
Marine budgets must reflect real operational behaviour. PRIME Marine replaces disconnected spreadsheets with a structured budgeting framework tailored for ship operators, technical managers, and fleet controllers.
Boosting efficiency and enabling smarter decision-making.
Purchase requisitions and orders automatically update budget commitments—ensuring procurement decisions align with approved financial limits.
Maintenance tasks and spare requirements roll up into budget consumption, improving cost forecasting and lifecycle planning.
Manning levels, travel costs, and crew changes are reflected against crewing budgets— supporting controlled workforce planning.
Gain real-time insights into budget allocations, expenditures, and balances— vessel by vessel, department by department.
Avoid overspending through proactive monitoring and alerts that help keep expenses within limits.
Access up-to-date financial data that helps technical and purchasing teams make cost-effective, well-informed choices.
Schedule a discovery call with one of our maritime technology experts today and let’s explore how we can help you.
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Our system is multi-currency native. You can create budgets in your company's primary currency (e.g., USD), while purchase orders can be issued in any other currency (e.g., EUR, SGD). The platform can use a fixed internal exchange rate or integrate with a live feed to calculate the real-time impact on your master budget, giving you clarity on foreign exchange exposure
Yes. You can create specific, time-bound project budgets that are separate from a vessel's normal operating budget. This allows you to meticulously track all costs associated with a major event like a dry-docking—from shipyard costs to specialist technician travel—and compare the final project cost against the original plan.
By capturing highly detailed, structured data on your actual spending over time, the system becomes your most powerful tool for future forecasting. When creating next year's budget, you can instantly pull up the last 12 months of actual spending for any vessel or cost category, replacing guesswork with data-driven projections.
Our system is built on the principle of accrual-based budget management, which provides a true picture of your financial position. The moment a Purchase Order is approved, its value is instantly registered as a 'Committed Cost' against the relevant budget code. This gives you a real-time view of your future obligations. When the invoice is received and paid, its status simply changes to 'Actual Cost.' This allows your finance team to accurately forecast cash flow, knowing exactly what has been spent and what is committed to be spent in the coming months.
We have a dedicated 'Supplementary Budget Request' workflow for this. If a superintendent needs to approve a cost that will exceed the budget, the system will prompt them to submit a formal request. This request, complete with justification and supporting documents, is routed to a pre-defined approval chain (e.g., Fleet Manager, then Financial Director). Only upon digital approval is the budget for that specific code increased. This creates a fully auditable trail for every instance of additional funding, eliminating informal email approvals.
Our platform's dashboard is fully interactive. If you see a variance—for example, the 'Spares' budget is 15% over—you don't need to run a separate report. You can simply click on that line item. The system will instantly drill down and show you every single Purchase Order that contributed to that overspend, sorted by value. You can immediately see if it was due to one large, unexpected repair or a trend of smaller, accumulating costs. It turns a week of investigation into a 30-second inquiry?
Every financial transaction within our system has an immutable digital fingerprint. From the initial requisition by a Chief Engineer, to the superintendent's approval of the PO, to the final sign-off by the Fleet Manager, every step is time-stamped and linked to a specific user account. You can click on any expense and see its entire approval history instantly. This creates a culture of complete transparency and accountability, providing owners and senior management with total confidence in the financial governance of their fleet.
Yes, our system is designed with this flexibility in mind. You can configure the budgeting basis on a per-vessel level. For your vessels on long-term time charters, you can use a standard calendar (monthly/quarterly) OPEX budget. For vessels in the spot market, you can create specific 'Voyage Budgets' that track all revenues and costs associated with a single passage from start to finish. This allows you to accurately assess the profitability of each voyage, all while managing your other vessels on a different financial model within the same platform.
PRIME Marine’s Budget Management Module bridges the gap between operational execution and financial control. By embedding budgets directly into day-to-day vessel activities, ship operators gain predictability, accountability, and confidence—without turning operations into an accounting exercise.
