Cayman Island boatyard Compass Marine signed with PierVantage, a cloud-based program designed to manage marine businesses.
Compass Marine joins boatyards and builders that include Derecktor Shipyards, Zimmerman Marine, Manitowoc Marina, Front Street Shipyard, Pacific Fishermen Shipyard & Electric and Philbrook’s Boat Yard in choosing to use PierVantage to help overcome key business challenges, such as accurately tracking the true costs associated with each project and managing their just-in-time inventory purchasing process.
“Compass Marine is considered one of the premier boatyards in the Cayman Islands,” Compass Marine owner Mike Farrington said in a statement. “As our business enjoyed steady growth, we knew we would eventually need to upgrade our technology to more of a marine-specific business management solution, and the PierVantage team demonstrated they were the right partner.”
“Managing simultaneous service and repair projects, boat storage, our chandlery business, rigging, hauling and launching is too much for a standard accounting package to handle,” Farrington said. “PierVantage gives me the visibility I need to effectively make decisions about each division or revenue stream. Easy access to information is very important to me. With PierVantage for Boat Yards, I felt I could streamline processes in all aspects of my business by getting more work done in less time with less people.”
“Mike and the Compass Marine team are a great addition to our growing customer base,” CorVant founder and CEO Navroze Eduljee said. “Mike is very decisive and knows what he wants and needs to grow his business. He met our team at IBEX in Tampa, Fla., last year for the first time, saw a few product demonstrations, and by the time he arrived back home on the Island he had signed with us.”