The Vessel Finance Calculator is a business-to-business (B2B) maritime tool designed for large shipping companies. It assists in evaluating the accounting implications of different vessel purchases and helps these companies make informed decisions about their fleet acquisitions.
Boel IT, a maritime software company came up with a Vessel Finance Calculator, a unique B2B solution for assessing the value of vessel acquisitions for businesses. The core software was developed years ago without much consideration for user experience, and resulted not meeting the current market needs. Considering this hurdle, the founders of Boel IT approached my team for a complete overhaul of the platform.
We set out to tackle issues related to the inconsistent interface design, unclear navigation patterns, and outdated visuals. Our approach aimed not only to revamp the product's appearance but also to improve its functionality and introduce features that would aid investors in making more informed assessments of vessel acquisitions. This included streamlining the user interface and adding valuable tools to make the product more efficient and user-friendly for investors.
Unlike traditional calculators, Vessel Finance uses compound interest for loans and equity advances. The platform also considers variables such as inflation, shipyard efficiencies, technological advancements, and price competition during vessel appraisals.
Because the product involved extensive financial calculations, with numerous inputs and outputs, we aimed to bring clarity and transparency to the vast amount of data generated by Vessel Finance. Our goal was to ensure investors could not only understand the results but also easily grasp the methodology behind the platform's evaluations. This approach was designed to promote greater confidence and comprehension among users.
