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Management Dynamics Announces Full Support for NVOCC Service Arrangements
Article Editor: Christopher Laird Simmons
Integrated system streamlines the quote to cash process including filing of NVOCC Service Arrangements (NSAs), publishing rate tariffs, and preparing accurate freight bills
EAST RUTHERFORD, NJ - November 17, 2004 /Send2Press Newswire/ -- Management Dynamics, Inc., the market leader in tariff and confidential contract management solutions for the ocean transportation industry, today announced full support for individually negotiated non-vessel operating common carrier (NVOCC) service arrangements under the Federal Maritime Commission's (FMC) proposed ruling announced October 27, 2004.
"With Management Dynamics, NVOCCs can solve all of their pricing, contracting and FMC compliance challenges," said John Preuninger, president of Management Dynamics.
NVOCCs have been challenged in recent years to manage customer relationships through the antiquated tariff system imposed by the FMC. Under the proposed rulemaking NVOCCs would be able to offer individually-negotiated service contracts with their shipper-customers and would be exempt from the tariff publication requirements of the Shipping Act of 1984. The new ruling allows NVOCCs to lock in their most important customer relationships with longer-term service contracts.
The NVOCC Service Arrangement Module is a key component of the broader Rate Explorer solution that automates buy-rates, optimizes service tradeoffs, manages transaction margins, and generates sell-rate quotes. With Rate Explorer, NVOCCs have two options upon acceptance of a rate quote: self-publish the rate to their tariff, or build a fully FMC-compliant confidential contract with the shipper. Then, using the NVOCC Service Arrangement module, these contracts are electronically filed with the FMC using the FMC's Internet-based SERVCON system. By managing the entire process from Rate Explorer, NVOCCs avoid the expense and delays associated with outsourcing these activities to a third-party publisher.
The NVOCC Service Arrangement Module not only simplifies FMC compliance but manages the shipper contract within Rate Explorer. An advanced rating engine processes NSAs against applicable carrier rules tariffs to ensure that sell rates are synchronized with all buy-rate assessorials, ensuring target margins are achieved. When the house bill-of-lading is prepared, this same accuracy reduces billing disputes and promotes faster cash collections.
"Our latest NVOCC Service Arrangement module allows NVOCCs to protect their most important customer relationships with a contracting solution that fully integrates with their quotation and billing processes and complies with all FMC tariff and service contract regulations," said Preuninger.
Rate Explorer NVOCC Agreements Module is available today. Management Dynamics has managed over 10,000 confidential contracts and has the depth of experience and proven solutions required to assist NVOCCs in managing individual customer contracts.
About Management Dynamics, Inc.
Headquartered in East Rutherford, New Jersey, Management Dynamics is the market leader in tariff and contract management solutions for the ocean transportation industry. The company's flagship product, Rate Explorer(R), is a web-based solution that automates contracts to improve operations and reduce costs for importers, exporters, transportation intermediaries, and carriers. With the industry's most accurate rating engine, Rate Explorer is used to calculate accurate bottom-line charges prior to quoting or booking, identify and eliminate invoice errors, and improve back-office productivity.
Rate Explorer is the time-proven solution with over 6,000 users processing 8,000,000 transactions per month. Please visit www.managementdynamics.com or telephone (201) 935-8588 for more information.
Source of News:
Management Dynamics, Inc.
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