Logistics Software developers CocoonFMS® Ltd have launched a new standalone product to add to their existing Digital Eco System. The new product is a SaSS based Demurrage & Detention calculator which anyone who is moving shipments via Seafreight to manage their demurrage & detention costs.
The tool allows a company concerned with escalating costs around Quay Rent and delays at the port to manage their costs effectively and plan their shipments better through automation.
There are two methods to allow you to input data. Either via EDI/API Integration which can pull shipments indirectly from the Freight Forwarders TMS or you can upload shipment data in one go. Once the data is in the system calculates and warns when demurrage is about to start and estimated costs. The system can calculate by Trade-lane, port of discharge, by the carrier, container type line or merchant haul.
You can use the calculator as an internal tool, or you can set it up so your customers can see their information.
The key benefits of CocoonDEM are to have a single source of truth when it comes to the costs, it increases transparency and stops those difficult calls when the invoice lands from the shipping line of a freight forwarder and more importantly improves data accuracy.
“Demurrage is one of those horrible unforeseen costs which every importer will face, often it's completely out of their control. Once the invoice is received you have no choice but to pay. By having this tool available to help manage the costs is a win all around. The freight forwarder can soften the blow, or the customer can see instantly what invoices are going to land. It will save time and improve your supply chain by having this data to hand. We’re so excited to launch this new product to the supply chain market. – this is just the start of what we can offer as a Logistics software provider” – Said James Blackman Managing Partner CocoonFMS® Ltd.
For a demonstration or more information please do go to our contact us page to arrange a demonstration.
Please call us or use the form to send us a message. Do you have a question? Our team will gladly help.