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idea

Bid2board’s idea stems from a visionary concept and a large market need to transform the shipping industry. Andreas Zompanakis and his team, our client and a maritime expert, approached us with an interesting idea, one that held profound industry knowledge and know-how. He entrusted us to bring his vision to life, creating an online marketplace that acts as a virtual meeting point where service providers showcase their offerings, ship owners/managers search for specific services, and both parties engage in communication and negotiation. Beyond this, the arrangement of technical services would take place, in order to ensure a seamless match between service providers and diverse ship equipment. Also, data analytics and benchmarking tools, as well as comprehensive equipment listings for every ship would enable ship owners/managers in making well-informed decisions.

objectives

Develop a unified platform that seamlessly manages all aspects of maritime services. This comprehensive digital solution would:

  • Empower service providers to showcase their offerings
  • Enable ship owners/managers to efficiently search for specific services
  • Facilitate seamless communication, negotiation, and transaction completion between both parties
  • Align technical services to ship equipment for customized service options
  • Streamline large information content efficiently for easy accessibility
  • Incorporate an easy-to-use software interface, ensuring a user-friendly experience
  • Analyze platform data to provide insights on maintenance costs

challenges

The primary challenge lay in translating non-technical insights into a viable digital solution, particularly organizing a wealth of industry-rich information. The empirical experience the client offered needed to be translated into a functional software. The initial information was extensive and required structure & technical cohesion. The complexity stemmed from the diverse structure of the data, resembling a tree with various vessel types, more than 700 different equipment pieces for each vessel, and variations in main shipping routes between 4200 ports, adding an additional layer of complexity to the challenge at hand.

solutions

Our initial focus was on fully comprehending bid2board’s idea and industry-specific requirements, in order to develop a powerful plan for technical realization.

  • Requirement gathering: Through extensive discussions, we translated our clients' empirical knowledge into actionable technical requirements. Our aim: to fully understand the shipping industry’s specific needs.
  • Strategy development: Key technical components were underlined, serving as a roadmap throughout development.
  • Continuous communication: The development process relied on communication, improving the project with ongoing input. Continuous dialogues with the client not only helped in understanding their vision but also allowed for real-time feedback.
  • Adaptive refinement: Ongoing improvements were made to address initial uncertainties, developing the final product, while taking into account the ever-evolving needs of the shipping industry.
  • Equipment categorization to a tree structure: Recognizing the challenge of organizing more than 700 diverse equipment pieces, we implemented a categorization system resembling a tree structure. Each category was crafted to enhance data accessibility, provide functionality, simplifying the complex relationships within the data, ensuring efficiency.

implementation

The creation of a reliable, powerful digital platform adapted to the needs of the shipping industry included:

  • Ship profiles: Detailed profiles for diverse ship types with thorough information on hundreds of onboard equipment.
  • Equipment cataloguing: Every equipment piece was cataloged, including when the piece was last serviced, maker, type, and relative documentation, ensuring precision and a well-informed history.
  • Service listing: A comprehensive service catalog was established for each equipment type, facilitating service management. The platform expanded its offerings to cover inspections for potential ship purchases, providing a comprehensive solution for shipping companies.
  • Scheduling system for equipment services: Prearranged annual maintenance and urgent service arrangements, offering flexibility and responsiveness to diverse service needs.
  • Intelligent matching system: Shipping companies could arrange services by selecting ship, equipment, location, and ETA, with the platform automatically matching them to suitable suppliers.
  • Documentation and service completion: Post-service, all relevant documents, including service reports and invoices, were uploaded, ensuring a complete and traceable service history.
  • Bidding and communication: A bidding process empowered shipping companies to secure cost-effective service arrangements, and direct communication channels between service providers and ship owners/managers were implemented.

benefits

The realization of the project lead to:

  • Finding the right service supplier faster and more efficient.
  • Reduced service costs by implementing a bidding system.
  • Direct communication, that improved clarity and service quality.
  • A central platform that facilitated record-keeping and ensured that standard specifications were met.

results

An industry idea became a powerful, innovative tech solution and has been running since September 2021 with:

  • $3 million USD worth of arranged services
  • over 850 completed services
  • 50 active shipping companies
  • 452 registered ships
  • 1000 active services suppliers