Why choose us

Solution to pain points

  • Automatic Vendor Invoice registration
  • Credit control
  • Automated Bank Reconciliation
  • Protecting the new container from damage due to scrap cargo shipment
  • Complying to Local Tax Laws and Statutory Regulations
Automatic Vendor Invoice Registration

Automatic Vendor Invoice registration

Problem:
NVOCC, Shipping agencies and freight forwarder receives lots of invoices from Terminal, Depot, Slot operator, Liner and container leasing partner for the service received from vendor. It would be tedious process for the business to validate the cost received in the invoice and register the invoice in the system

Impact:
Unable to realize the cost on time which will impact the visibility on profitability, unable to bill the incidental charges on time to customer, Major contributor to the pending works backlog.

Solution:
Zealit ERP has the option to auto estimate the cost based on the tariff agreed with the vendor and up on receiving the invoices in email system will auto process the invoice received and compare with the estimated cost. If the cost matches with estimate or less, then the estimate then system will auto register the invoice else system will bring the invoice for cost controller’s approval they can verify and approve by the button click which will get register in the system.

Value to the business:
This automatic vendor invoice registration process will help the business to realize the cost on time and in case if the cost needs to be re-billed to customer this process will help you to bill the customer on time. Another major value for this process is you don’t require the big team to process the vendor invoice registration.

Credit Control

Credit control

Problem:
Most business offers credit period to the customer and it is difficult the monitor the outstanding balance and compare with the credit term agreed with the customer. Also, even for the customer without credit period it is difficult to validate whether the payment has been received from the customer before releasing the shipment or accepting the booking.

Impact:
Increase the financial risk

Solution:
Zealit ERP has fully functional accounting system which is connected with the operation module. Accounting module has the option to manage the credit terms agreed with the customer, based on this credit term system has the correct validation in place i.e. it will compare the outstanding with agreed credit limit – if the outstanding is within the credit limit then system will allow to proceed further else system will block the process and for the cash customer if the invoice is outstanding it will block the process. However, to handle the exception credit controller with the special rights has the option to bypass this validation by updating the reason.

Value to the business:
System level validation on credit will nullify or minimize the financial risk, credit controller will have the complete visibility of the customers financial positions.

Automated Bank Reconciliation

Automated Bank Reconciliation

Problem:
Business will handle lot of transactions through the banking and it requires more resource to reconcile the bank pass book with the bank ledger. Due to the delay in bank reconciliation activity business owners will not know the clear outstanding position of customers & vendors.

Impact:
Affect the cash follow, erroneous bank reconciliation, impact the visibility of payable and receivable outstanding position.

Solution:
Zealit ERP auto bank reconciliation process will help to synchronize the daily transactions in bank through excel upload or EDI and based on the transactional details received from the bank pass book it will auto post the expenses/revenue for the bank charges and auto reconcile the accounting ledger with the pass book. In addition to this system will auto email the daily position of each bank with the details of Balance as per Pass Book , Balance as per Accounting Ledger , Reconciled transactions , Open transactions available in pass book and open transactions available in accounting ledger.

Value to the business:
Clear visibility on bank position, Simplify the tedious process performed by the accountant, clear visibility on the outstanding position of the customer & vendor.

Scrap Cargo Shipment

Protecting the new container from damage due to scrap cargo shipment

Problem:
NVOCC handle the scrap cargo will face the problem of damaging the new containers due to incorrect assignment of containers by the depots.

Impact:
Result in damage of new containers.

Solution:
To protect the new containers from damage, Zealit ERP has the option to assign the grade for each container inventory and assign the allowed grade for the scrap cargo’s. Based on this details Zealit ERP will auto assign the containers for the release order to the depot and to handle the exception scenario of non-availability of allowed grade containers, user with the special access can assign the container manually.

Value to the business:
Protecting the new containers from damage.

Complying to Local Tax Laws and Statutory Regulations

Complying to Local Tax Laws and Statutory Regulations

Problem:
Freight forwarders/NVOCC form an essential part of the supply chain and global trade, complicated in handling goods. Shipping executives have amply on their minds these days. They grip customers across multiple countries and it is actually challenging to manage the accounting process adhering to the local tax laws and statutory regulations. NVOCC, Freight Forwarders, Warehousing or anyone in the logistics business is still hunting for a simple and quickest way to handle local tax laws and statutory regulations

Impact:
Challenges grow rapidly when your business enters new markets and while handling higher volumes of more complex international payments. Dealing with different banking, payment systems, and complying with different financial reporting systems requirements in multiple foreign jurisdictions that are often with dynamic local tax laws and regulations. It can be very costly and time-consuming.
This makes the Finance & Accounting process in the logistics business a complex one and requires a lot of manual work and time to handle multiple currencies with global customers and tax slabs as per local tax regulations.

Solution:
For example, payments-related challenges are frequently one of the biggest obstacles to rapid international expansion. That’s why a growing number of transportation, logistics, and supply-chain executives are partnering with ZEALIT ERP. It can make all the difference when you are using this full-fledged Finance & Accounting system to seamlessly handle all your accounting functions.
ZEALIT ERP enables the business to automate their accounting process. The system seamlessly handles billing & accounting functions. The multi-currency accounting capability can effectively manage revenue & expenses. ZEALIT Tax engine is fully automated and user-configurable as per the local regulations. The system determines the type of tax that should apply, the rate & subclass of tax along with any other invoicing details required as per the location of the business.

Value to the business:
Clear visibility on bank position, Maintaining the uppermost level of accounting standards is vital for any business. Nevertheless, given the complexities of global trade, upholding accounting best practices can be even more challenging. ZEALIT ERP accounting practices are better able to hone in on areas of organizational excellence and are more readily equipped to identify potential areas of concern. It will bridge the information gap that may exist between accounting and operations. Maximizing revenue can be challenging in the competitive logistics industry, and deploying effective technology is one method to not only realize quantifiable financial gains but also provide a higher level of customer service. Besides streamlining your Finance and Accounting process, ZEALIT provides you with unique, tailor-made solutions that account for your future needs.