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Mumbai, Barcelona, 8th October, 2015: Accelya, the leading provider of financial and business intelligence solutions to airlines, today announced that LATAM Airlines Group, the largest airline group in Latin America, has selected Accelya’s REVERA PRA to standardize the passenger revenue accounting processes across the airlines that are part of LATAM Airlines Group. Accelya has also been LATAM Airlines Group’s partner for Interline Billing, Audit & Revenue Recovery, Card Management and airline Market Share Analysis.
LATAM Airlines Group is one of the largest airline groups in the world, flying 68 million passengers a year. LATAM Airlines Group’s passenger revenue accounting is an important source of revenue information for its internal stakeholders to take business decisions. Given the large volumes, multiple airlines and geographical spread of the business, LATAM Airlines Group was facing the challenge of managing this information with desired quality and timeliness. Therefore, they decided to partner with Accelya to standardise their processes across the group.
“We partnered with Accelya after evaluating various revenue accounting solutions in the market. As a large airline group, we needed a proven solution to standardise our processes. We found REVERA to be the best fit for us. We are confident that this solution will help us manage our volumes across LATAM Airlines Group with operational ease, speed, accuracy and quality that are the best in the industry”, said Andrés Osorio, Chief Financial Officer, LATAM Airlines Group.
“Revenue accounting function is an important source of strategic information for LATAM Airlines Group. The strategic information from REVERA will help us transform revenue data across our group into actionable intelligence.” said Felipe Pumarino, Revenue Accounting Director, LATAM Airlines Group.
REVERA will help LATAM Airlines Group to,
- Gain better control and monitoring through standardization of processes across all airlines that are part of LATAM Airlines Group
- Declare revenues accurately and on time
- Get actionable intelligence and insight into financial performance
- Get single-vendor accountability
Speaking on the occasion, Jordi Arcalis, Chief Commercial Officer, Accelya, said, “This deal with LATAM Airlines Group reinforces our long standing partnership with them. I am confident that we will continue to add value to their business and support them in their growth”.
“The scope and complexity of Revenue Accounting has been ever increasing. As a result, revenue accounting teams are under pressure to not only record and protect revenue, but also actively contribute to the decision making process. REVERA®, in combination with APEX®, provides airlines the ability to accurately transform data into actionable intelligence”, said Philip Fernandes, EVP & Head – Revenue Accounting Practice, Accelya Kale Solutions Limited.
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