Digital transition: “Mindsets are changing”
The Blue Fund has financed 15 digital transition projects in the yachting sector. Syselio, which develops business software, is headed up by David Berrin who was able to observe - and take part in - this evolution.
You are a partner of the Blue Fund, which offers up to 70% financing for digital projects. Do you feel that yachting is making its digital transition?
At our level, we do indeed notice an enthusiasm for digital projects. Since the creation of the Blue Fund at the end of 2020, we have been commissioned by three companies in the yachting sector, Catalano Shipping, H&V Yachting and MYSEA. Yachting is a cutting-edge sector in Monaco and it's normal for it to be technologically up to date. Mindsets are changing. We still see a lot of old-fashioned accounting, done manually on tedious Excel files but automating tasks using software or an application contributes to time saving and profile - it is imperative today.
Have you not worked much with the yachting industry until now?
Since I founded Syselio in 2003, 40% of activity has been in events, including Sportel, the Monte-Carlo Television Festival, the Laureus World Sport Awards and the World Rugby Awards (equivalent of the FIFA Golden Ball Awards). Yachting companies in particular have been extremely rare clients. Only one major player, the Monaco Yacht Show, has been using our tools since 2013. With our software, they manage their online registrations and exhibition areas (invitation form, badges, etc), as well as their invoices and so on.
What are your current digital projects?
They are very varied. Catalano Shipping Services is a maritime agency that manages stopovers for yachts and megayachts, offering them various services such as the reservation of berths, onboard supplies, administrative and customs procedures, parcel transport, etc. We have designed a mobile application to make life easier for their clients and employees. Boat captains have access via this app to the catalogue of suppliers when placing their orders. In one click, they can check boat supplies and track packages. All orders go through this logistics platform. For H&V Yachting, the needs were different.
How do you mean?
Specialising in fiscal representation, H&V Yachting works with charters and takes care of VAT registration and declaration, invoicing, etc. These VAT declarations depend on the time spent in the territorial waters where the boats dock. We made them a tool that tracks the position of yachts and allows these tax procedures to be carried out, as well as invoicing; and automating these tasks means they can also manage more boats.
Finally, for MYSEA yacht brokerage, we developed an application to manage all invoicing, summarise cash flows, verify all client payments, as well as calculating the commissions shared with other brokers.
How much does such a project cost?
It's like a house, it all depends on the size! It can be anything from €3,000 to €300,000.
Syselio: some figures
Created in 2003 Syselio has 15 employees and a turnover of €1.2 million. Convention, its software suite for professional event organisers, has supported more than 150 events.
