news @ BASSnet
Top-notch innovation culture
Transforming financial management into a strategic tool
Keeping ahead of times
Check out the upcoming events for 2012
Achieving cost efficiency We are happy to note that BASS is building its momentum towards its mission of providing the best and most user-friendly fleet management systems. To tell you about the quality of our products and services, we are gearing up for the first quarter of 2012 with a full line-up of workshops, events and user forums. We have demonstrated our ability to overcome challenging times, significantly improving profitability in 2011, and strengthening our key markets in Europe and Asia – notably, Germany, Norway, the Netherlands, Singapore, Malaysia, Taiwan and Japan. In response to this positive direction, we are growing the organisation with new hires this year, driven by on-going product development. In addition to enhancements to current market favourites, we have new products such as the BASSnet™ Financials (accounting software) which is winning accolades for its ease of use and other plus points. Do read about its features in this issue. The current year has indeed been rewarding with the clinching of new deals including top ranking customer, Hapag Lloyd and Grindrod Shipping as well as signing of recurrent businesses. Existing customers have expressed confidence in us by upgrading to the latest full suite of BASSnet™– clear evidence that companies are looking for one integrated software suite to increase efficiency and profitability, achieve process optimisation and maximise visibility. 2 February 2012
Winning the prestigious Innovation Award 2011 at the Fourth Malaysia Norway Business Council in Kuala Lumpur in October was a special moment for BASS this year. This was not least because we beat three other big names to it. More of that elsewhere in these pages. We are also happy that during the year we were able to share the superior features and advantages of the BASSnet™ software suite with members of the shipping fraternity through a number of workshops and user forums. The shipping industry, with its high capital expenditure requirements, could be among the worst hit by the current economic turmoil, as the effects of the downturn, coupled with a dearth of cargo, may result in a double whammy for ship owners. Mapping this scenario, the managing director of Clarkson Research Services, Dr Martin Stopford, said at a Moore Stephens Ship Operating Costs seminar recently that this next decade would be one of controlling costs, rather than watching the revenue rolling in as before. At BASS, we understand this well. Our business purpose hinges on helping our customers to operate their vessels safely, in an environment-friendly way, in compliance with maritime rules and regulations and in a cost-efficient manner. BASSnet™ Fleet Management Systems, our suite of shipping management software, addresses cost control and efficiency issues directly, giving ship
owners a good return on investment (ROI) to drive their business. These advantages are evident to our many satisfied customers such as Stolt Tankers, Pacific International Lines and TMT Co Ltd (see inside story). Indeed, cost control solutions have been a priority for BASS’s software development even when charter rates were firmer, and the outlook for the industry less choppy. This is because it obviously makes economic sense to be prudent even in good times. Enhancing the ROI of ship owners is a core objective of BASS’ business strategy. Bearing in mind the huge sums ship owners spend on assets and the high finance costs associated with the investments, we are aware that small gains in ROI translate into significant bottom line numbers. The results of using the BASSnet software on the ROI of ship owners must be sizeable, considering that we are the global leaders in our industry. We are proud to say that our major customers in key sectors are blue chip companies. That is a strong testimonial of the benefits to be enjoyed with BASS. Per Steinar Upsaker, Chief Executive Officer & Managing Director
BASS software solutions, ahead of the times on offering solutions, BASS has a number of software applications that complement Last year, many shipping firms were busy the initiatives of the Manila Amendments updating their operations to be in while cutting operating costs, which will compliance with the Manila Amendments bring relief to ship owners. to the Standards of Training, Certification and Watchkeeping (STCW) Convention For instance, BASSnet™ HR Manager and Code (Manila Amendments), which has a crew matrix module that matches the are came into force in January. competence of crew members with the type of fleet or vessel they can operate. Considering that the last amendments were Another requirement of the Manila made in 1995, and prior to that in 1978, the Amendments is that Certificates of changes will be welcomed by the shipping Competency and endorsements are fraternity, as they bring the industry up to only to be issued by the ship operator’s speed with current trends, and put it in a administration to reduce the incidence better position to address possible future of fraud associated with the issuing of issues. such certificates. This is addressed by BASSnet™ software as well. With the implementation of the Manila Amendments, ship owners who are Further, BASSnet™ already dealing with escalating costs can HR Manager handles be expected to come under additional training amendments of pressure. This is because the STCW crew. With this software, requirements are hinged, among other both the management things, on the training of crew, and the of companies and crew matching of crew competency with their members can keep better ability to run the vessel, which call for track of progress in enhanced resource management. competency training, and any attempts at fraudulent While BASS views the introduction of the practices can be addressed amendments positively as they have been immediately. Refresher put in place with the welfare of shipping training and modern training methods crew in mind, we do empathise with ship such as distance learning and web based owners who have to face higher operating learning, both addressed under the Manila costs which will further crimp margins that Amendments, can be easily adopted with are already razor thin. BASS software solutions as well. Nevertheless, as a company that focuses
New competencies and real life needs, as
stated under the Manila Amendments can, also be handled by the same software. Other tenets of the new STCW Convention include the hours of rest for crew members, which are to be harmonised with the requirements of the ILO Maritime Labor Convention (2006), and are aimed at reducing fatigue. Seemingly tailored to fit this need, the BASSnet™ software has a work and rest hour module to ensure that crews are protected and to maintain the seafarers’ work hours at acceptable levels in compliance with IMO and ILO rules. Also, with our software, individual records can be kept without any paperwork. For convenient ship management, BASS has recently launched BASSnet™ 2.7, a software suite providing integrated management of a vessel, including payroll, human resources management and safety, besides others. This and other BASS software solutions are being used by Stolt Tankers, Kawasaki Kisen Kaisha Lines (K-Line), TMT and Nippon Yusen Kaisha Lines (commonly known as NYK), among major shipping firms that have picked our products. A clear reason for their choice is that with the BASSnet™ Fleet Management Systems, these firms are able to enjoy lower operational costs and increased efficiency.
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Streamlining complex processes
(No ‘islands of information’)
Maintenance Procurement Operations Document management Safety management Crew/HR management Payroll Accounting
BASSnet™ Fleet Management Systems
Ship Master Chief Eng
Office Safety & Mgmnt QA dept
Purchaser Crew Claims Accountant manager dept
Supplier Freight fwd Training Centre Manning agent Travel agent Training Crew planning Travel agent co-ordinator co-ordinator
Top-notch innovation culture BASS bagged the prestigious Innovation Award 2011 at the Fourth Malaysia Norway Business Council, which was held in conjunction with the Norwegian Seafood Gala Dinner at the ritzy Mandarin Oriental in Kuala Lumpur in October. At the apex business event, BASS pipped three other finalists – Det Norske Veritas, Roxar Technologies and NRS Asia, all giants in their own right – to win the coveted award. The judges from the Malaysia Norway Business Council gave their votes to BASS on the basis of its market share of the industry, sustainable operations, high level of technology transfer, excellent environmental awareness and action, and high level of social responsibility. Receiving the trophy and plaque from the Ambassador of Norway to Malaysia, H.E. Terje Thedor Nervik, was BASS Service and Support General Manager Wong Nyuk Lan. “This award is an unexpected reward for the hard work of BASS employees to develop market-leading products and services. It will inspire us to strive for continued excellence for our customers,” said Nyuk Lan. BASS employees at the event expressed deep appreciation at the business council’s recognition of the company’s 4 February 2012
“This award is an unexpected reward for the hard work of BASS employees to develop market-leading products and services. It will inspire us to strive for continued excellence for our customers.”
Wong Nyuk Lan
innovation culture. BASS employs 100 full-time staff members, over 95% of whom are Malaysians comprising naval architects, marine engineers, ship accountants and software architects, among others. In its pursuit of sustainability in business, BASS has focused on the development of green solutions for safe and reliable maritime operations. In the area of social responsibility, BASS has been consistent
in contributing to welfare institutions and promoting programmes that have positive impacts on the community. BASS was also recognised for conducting training for crew in Malaysia, India and the Philippines, and for imparting knowledge on marine IT systems to ship owners. A big thank you to everyone who contributed towards the winning of this award.
BASSnet™ Financials simply outstanding There’s been a buzz in BASS lately with word circulating about our research and development (R&D) team’s latest software, which is expected to be another winner and should make 2012 a memorable year. While the R&D team has generally kept mum, their satisfied looks say that the hard work they have put into the project has borne fruit. Now, they are conducting tests around the clock in preparation for the launch of our stellar financial software which is slated for this year. Previews suggest that BASSnet™ Financials will create quite a storm in shipping circles. The software’s structure has been worked out after hours of factfinding with potential clients, and we believe that it will meet the requirements of shipping companies everywhere. BASS’ support team has been busy being trained in the software by the product management team in order to offer the requisite assistance in terms of product knowledge to support our clients. Our key account managers have also begun preparing our customers who are keen to upgrade from their old accounting software to BASSnet™ Financials. At the outset, the feedback has been truly enthusiastic. Most newbies have enjoyed the ease with which the software can be 5 February 2012
used and the relatively simple training needed to use the software. BASSnet™ Financials, like most of our software solutions, is web-based, and has a full range of features which comply with international accounting standards. “In a high capex (capital expenditure) business like shipping, where depreciation of assets is a significant element, efficient financial software makes a crucial difference. We at BASS are proud to say that we have an outstanding solution that will be available by next year,” said BASS Product Manager – Alan Liew. BASSnet™ Financials also encompasses the spirit of the Sarbanes Oxley Act of 2002, which has enhanced accounting standards in the US, and is aimed at protecting minority shareholders. “We believe our latest software sets a new standard and, much like all our other solutions, will be a hit with the industry,” said Alan. BASSnet™ Financials is a processdriven maritime financials system, specifically designed for the shipping and related industries, to handle multiple vessels, companies and various currency transactions, among other things. The system enables users to receive information via FOREX Revaluation and
“We believe our latest software sets a new standard and, much like all our other solutions, will be a hit with the industry,”
get maximum value from integration. An online BASS Web Reporting feature is also available, allowing real-time information retrievable by users at anytime and anywhere in the world. We understand that it is vital to have easy access to business data in a format that helps users make informed decisions, manage performance and drive results. With BASSnet™ Financials, users can utilise the KPI Dashboard to generate and view Financial KPIs, such as ROI, liquidity ratios and outstanding accounts payable or receivable. Stand by for the new star in BASSnet™’s software family.
Customer Forum Kuala Lumpur Our Customer Forum Kuala Lumpur, which was held from Nov 29 to 30 last year at the renowned InterContinental Hotel in downtown Kuala Lumpur, drew more than 40 professionals representing the shipping and oil and gas offshore support industries.
Asia Pacific Maritime 2012
Join us at the region’s premier maritime event. Date: 14-16 March 2012 Venue: Sands Expo and Convention Centre, Marina Bay Sands, Singapore Stand no. M36
The centre of attraction of the forum was the BASSnet™ Fleet Management system whose latest features make it a much sought after software suite for shipping and offshore operations. The attendees gained important insights into the development, growth and road map of BASSnet™ which our management team provided. BASS CEO and Managing Director Per Steinar Upsaker welcomed the participants with an overview of shipping economics, cost control issues facing ship managers and owners and a synopsis of BASS’ organisational values, operational strengths, current achievements and growth plans. The speakers provided insights into the functionalities of the BASSnet™ suite and gave technology updates such as the emergence of Cloud Computing. Nevertheless, the roundtable discussions of the various product workshop sessions were the highlight of the event. Participants took the opportunity to post questions, share their individual
SEA JAPAN 2012
Join BASS at the leading event in the Japanese maritime industry. Date: 18 - 20 April 2012 Venue: Tokyo BIG SIGHT Exhibition Centre, Japan BASS stand no: NOR-03
experiences and hear first hand how the workshop leaders capitalise on the BASSnet™ software for their companies’ benefit.
BASS Customer Forum
Our developers and sales and support team had their plates full, providing product demos and answering participants’ questions throughout the two-day event.
SMM 2012 Shipbuilding, Machinery & Marine Technology Trade Fair
But it was not all work and no play. Participants and staff members had engrossing discussions during lunch and tea breaks, and all present headed to The View at G Tower’s rooftop bar and restaurant for evening drinks and dinner while enjoying a spectacular aerial view of Kuala Lumpur by night.
Date: Early June 2012 Vanue: Nice, France
Date: 4-7 Sept 2012 Venue: International Trade Fair, Hamburg, Germany
Europe/Americas: BASS AS Lysaker Torg 8, P.O. Box 68, 1324 Lysaker, Norway • Tel: +47 67 10 55 20 Asia/Pacific: BASS Sdn Bhd 19th Floor Menara Atlan • 161B Jalan Ampang • 50450 Kuala Lumpur, Malaysia • Tel: +603 2173 6488 • Support tel: +603 2173 6422 HQ: BASS Software Ltd. Atalanti House, 6th Floor • 203 Christodoulou Chatzipavlou • 3035 Limassol, Cyprus email@example.com • www.bassnet.no
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