The industry veteran shares why the Qorbis all-in-one expense management and debit card system is a "game-changer," delivering time and cost efficiencies by seamlessly tracking yacht finances both on- and off-board 

With almost four decades of experience in the marine industry, Joe Killian knows a thing or two about making sure yacht ownership is smooth sailing. His team at Killian Yacht & Ship Brokers are experts in the sales, marketing, service, and financial management of yachts. 

“As a broker, I’ve been engaged in doing whatever is necessary to assist clients - from finding captains and crew to helping them with managing yacht finances,” says Joe. “And the more I look into Qorbis, the more I realize that it is what clients need to do so easily, quickly, and cost-effectively.” 

Streamlining Financial Management 

The yacht industry, known for its luxury and exclusivity, has long been plagued by cumbersome financial management processes. Owner/operators and yacht management companies alike have traditionally juggled multiple bank accounts and prepaid cards, resulting in inefficiencies and administrative headaches. 

“Managing the finances of the yachts has been done the same way for a long time: people input everything into a spreadsheet, look at receipts, look at credit card statements, call staff members to verify things - it’s time-consuming, it’s prone to errors, its drudgery,” says Joe. "Qorbis eliminates that entirely. It gives the owner, crew, and administrative team the accountability and visibility to see expenditure in real time and takes so much time and work out of running a yacht, whether that’s for personal use or charters.” 

Unlike existing systems limited to providing APA efficiencies, Qorbis is a complete solution with branded cards, banking, and spend management delivered via one platform covering everything from payroll, yacht maintenance, and owner provisions to gratuity disbursement, bunkering, and of course, APAs.  

Significant Time Savings 

Joe estimates that an owner/operator with one yacht would conservatively save 20 hours in admin time every week by using Qorbis – with that timesaving amplified for multiple vessels. 

Rather than having to navigate a labyrinth of bank accounts, each tied to different yachts, logging in and out of various banking platforms, consuming valuable time, and increasing the likelihood of errors, Qorbis means seamless financial management.  

A single, unified platform is used for managing all financial activities. Each yacht can be assigned an individual account, entirely siloed to make transfers and reporting easy and efficient, significantly reducing the complexity and time required for financial tasks.  

Real-Time Oversight and Control 

One of the standout features of Qorbis is its real-time oversight capabilities. Managing crew expenses and Advance Provisioning Allowance (APA) spend has never been easier. 

Qorbis provides up-to-the-minute visibility into all transactions and easy receipt management of all transactions, enabling financial controllers to monitor spending in real-time. This level of oversight ensures that budgets are adhered to, and any discrepancies can be addressed immediately, preventing potential financial issues before they escalate.  

Changeovers are also made more efficient with tailored end-of-charter statements as well as an optional service to provide real-time access to charter guests so that they can monitor their specific APA spend, eliminating any surprises at the end of their trip. 

Enhanced Financial Flexibility 

The limitations of prepaid cards are well-known in the yacht charter industry. These cards often come with restrictions on spending amounts and transaction types, which can be inconvenient and restrictive. 

With Qorbis Visa debit cards linked directly to bank accounts, the need for prepaid cards is eliminated, offering greater flexibility and control over spending. Cards can be issued instantly and associated with a specific yacht – including in the vessel's, or the charter company's own branding - eliminating the need for crew to share cards and driving end-of-charter reporting efficiencies. Joe is convinced this level of control delivers the seamless experience owner/operators and those running charters are looking for.  

“With Qorbis, you fund the account, you know what the budget is. Ahead of time, the captain knows roughly what the expenses of a trip will be, can add 15% as a buffer, and then that amount can be allocated onto the card. And while the crew is using this card for spending, the owner has complete real-time visibility of where the money is going and what’s going on with the finances,” he says. “If there’s a question or a concern, it can be raised, but otherwise, the crew is empowered to get on with doing their job, and the owner doesn’t have to be bothered with questions about which card to spend on, or to approve a transaction.” 

An Investment in Efficiency 

Qorbis is not just a tool; it’s a game changer for the yacht charter industry – and one worth the outlay, according to Joe. 

By centralizing financial management, providing real-time oversight, and offering flexible spending solutions, Qorbis empowers yacht management companies and owners to operate more efficiently and effectively – and say goodbye to inputting data into spreadsheets for good. The platform's ability to save time and reduce costs directly contributes to improved profitability and enhanced service delivery. 

In an industry where luxury and precision are paramount, Joe is confident that Qorbis stands out. 

Want to see how Qorbis can transform your yacht finances? Book a demo today.

A Visa card with an embedded digital business card? Here's why Qorbis is the ultimate solution for brands looking to enhance networking, cut costs, and deliver on sustainability targets.

In today's digital age, businesses are increasingly seeking ways to streamline operations and reduce costs. One area ripe for modernization is the use of business cards. Traditional paper cards, while familiar and tangible, are expensive to print and mean businesses are unable to meet sustainability targets. Enter Qorbis, a Visa debit card with an embedded digital business card that promises to reduce these costs and enhance connectivity and convenience – and entirely branded with a business's own design and brand assets. Let's compare the costs and benefits of paper versus digital cards with Qorbis. 

Cost Analysis 

Paper Cards 

Printing Costs: Printing high-quality business cards can be expensive. Costs vary depending on the paper quality, design complexity, and quantity ordered. Typically, businesses spend an average of $30 for a batch of 500 cards - with costs rising for elements like embossing, increased paperweight, and colour. 

Design Costs: Unless you have an in-house designer, you’ll likely need to hire a graphic designer to create the business cards. This can add an additional $50 to $300 to the total cost. 

Reprinting Costs: Any change in contact information, job title, or company branding means reprinting cards, leading to recurring expenses. 

Environmental Costs: The production and disposal of paper cards contribute to deforestation and waste, making them less environmentally friendly. 

Qorbis Digital Business Cards 

Initial Setup Cost: Setting up a Qorbis account is $75.00 annually, with digital cards charged at $36 annually, or $3 per month, per user- significantly most cost-effective than paper versions with the added benefit of unlimited use and bespoke branding.  

No Reprinting Costs: Changes to your contact information or design can be made instantly an unlimited number of times via the administrative platform at no additional cost, eliminating the need for reprints. 

Enhanced Features: Qorbis cards come with additional features like direct contact saving, links to social profiles, and integration with digital communication tools, providing more value and a higher impact than a traditional card. 

Environmental Impact: By going digital, employees and businesses significantly reduce their carbon footprint, and help contribute to sustainability targets 

Benefits Beyond Cost 

Networking Efficiency 

With Qorbis, sharing your business card becomes as simple as sending a link or tapping your phone using NFC technology. This ease of sharing enhances your networking capabilities, making it quicker and more efficient to exchange contact information. 

Updates and Customization 

Qorbis allows for real-time updates to your card’s information. This means your contacts always have your latest details without needing to exchange new cards. Additionally, you can customize your digital card with a business's branding, interactive elements like videos, portfolios, and links to your work. 

Analytics 

One of the standout features of Qorbis is the ability to track interactions with your digital card. You can see who viewed your card, how they interacted with it, and follow up more effectively. 

While traditional paper business cards have their place, the advantages of switching to a Qorbis car with integrated digital business card are clear. From cost savings and environmental benefits to enhanced networking and real-time updates, Qorbis offers a modern solution that meets the needs of today's professionals.  

Make the switch to Qorbis and take your networking to the next level - talk to us today. 

In the rapidly evolving business landscape, the construction industry stands out for its reluctance to adopt digital practices. Despite the clear advantages of technological integration, many construction firms remain anchored to traditional methods. However, with the right digital tools, construction companies can overcome industry-specific challenges and achieve significant improvements in efficiency, cost management, and overall project success – and ultimately, a competitive advantage. 

Industry Challenges: Navigating the Financial Complexity of Construction 

The construction industry faces several unique financial challenges that hinder efficiency and profitability: 

1. Lack of Spend Visibility and Historical Data: Without clear visibility into spending and historical financial data, companies struggle with accurate cost allocation, particularly indirect costs or overhead. Many firms rely on direct labor hours to allocate expenses, often leading to inaccurate estimations that can erode profits. 

2. Limited Sub-Accounts: The inability to create separate financial accounts for individual projects complicates financial management, making it time-consuming and prone to errors. Each project’s costs should be meticulously accounted for to achieve a more reliable analysis of profitably - this is much harder if costs for multiple projects are grouped into a single account.

3. Budget Management: Managing cash flow is a perennial challenge in construction. Projects often operate on long payment terms (30, 60, or even 90 days), while immediate expenses like wages and materials require prompt payment. Effective cash flow management and real-time visibility are crucial to maintaining project stability. 

4. Slow Adoption of Digital Practices: Despite the known benefits of digital technology, the construction sector is notoriously slow to embrace new solutions. Concerns over implementation costs and the user-friendliness of digital tools contribute to this hesitation. 

5. Expense Fraud: Rising instances of staff expense fraud drain resources and time, highlighting the need for more robust expense management systems. 

Qorbis: Revolutionizing Construction Financial Management 

Qorbis offers a comprehensive financial management platform tailored to the construction industry’s needs. By addressing the specific challenges faced by construction companies, Qorbis enhances efficiency, control, and profitability. 

6. Unlimited Sub-Accounts: Qorbis allows businesses to segregate each project or build into separate sub-accounts, treating each as an individual profit and loss center. This capability streamlines accounting processes, saving time and reducing errors. 

7. Real-Time Control and Spend Visibility: With a central administration portal, Qorbis provides total transparency of every dollar spent in real-time. Funds can be moved by allocated team members - whether that's a project manager or superintendent - instantly, 24/7, 365 days a year, ensuring better cash flow management, financial oversight, and no delays. 

8. Improved Budgeting and Planning: Qorbis enables instant access to historical spend data, facilitating better planning and decision-making. This historical insight allows businesses to predict future costs more accurately and allocate resources more effectively. 

9. Simple and Cost-Effective Implementation: The Qorbis platform is designed for ease of use, requiring minimal resource investment from end users. Its plug-and-play nature and subscription model eliminate the need for large upfront financial outlays, allowing firms to start saving time and money immediately. 

10. Reducing Expense Fraud and Boosting Compliance: Qorbis enhances expense policy compliance and provides a robust layer of protection against fraud. The platform offers real-time expense visibility, complete control over every dollar spent, easy receipt capturing, auto-categorization, and a digital audit trail. 

The Opportunity: Gaining a Competitive Edge through Digital Transformation 

Companies that leverage digital business solutions like Qorbis can gain a competitive advantage through greater efficiency, better decision-making, and substantial time and cost savings. 

Real-World Benefits for Construction Leaders 

For CEOs the adoption of Qorbis means enhanced strategic oversight and the ability to drive company-wide financial discipline. With real-time visibility into spending and project-specific financials, management can make informed decisions that steer the company towards greater profitability and efficiency. 

For CFOs, Qorbis offers a streamlined, transparent financial management system that simplifies the allocation of indirect costs and overheads. The platform’s robust reporting capabilities enable CFOs to maintain accurate financial records, improve budget forecasts, and ensure regulatory compliance with ease. 

Project Managers benefit from Qorbis’s real-time expense tracking and budget management tools, which help them keep projects on track and within budget. The ability to segregate project finances into individual sub-accounts ensures precise tracking of costs and revenues, aiding in better project planning and execution. 

Project Superintendents gain from the reduced administrative burden and enhanced oversight provided by Qorbis. The platform’s ease of use and real-time data access mean superintendents can focus more on project execution rather than financial paperwork. 

The construction industry’s traditional reluctance to adopt digital practices is being challenged by innovative solutions like Qorbis. By addressing critical pain points such as spend visibility, budget management, and expense fraud, Qorbis empowers construction companies to streamline their financial operations, enhance efficiency, and improve profitability. Embracing digital transformation through Qorbis is not just a technological upgrade; it’s a strategic move towards a more competitive and successful future in the construction industry. 

Find out how our solutions can work for your business – talk to us today.