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SIS-compliant FinesseMBS prevents non-transport revenue leakage
Non-transport or miscellaneous billing accounts for 8-10% of airline revenues for network carriers. This revenue stream is particularly important for airlines because it is recession-proof and comes with stable margins.
The lack of automation and standardisation across various departments in the billing workflow poses several challenges that affect airline profitability and cash flows. The issues include inadequate control over invoicing, longer service-to-invoice cycles, higher rejections, and revenue leakage from incorrect billing.
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In addition, IATA’s mandate on SIS (Simplified Interline Settlement) compliance is compelling airlines to rethink their miscellaneous billing systems.
FinesseMBSTM is a SIS-compliant solution that streamlines miscellaneous receivables and payables. Using a single, integrated invoicing and settlement process, FinesseMBS standardises billing and accounting practices across business units. The highly automated solution improves productivity by reducing manual work, increasing invoicing speed, and minimising errors and leakage. A powerful contract management engine helps airlines effectively manage pricing contracts and prevent revenue leakage.
- Compliant with industry standards such as SIS
- Supports phased implementation
- Flexible interfaces with existing systems – such as excel, SAP, Oracle, Peoplesoft and legacy systems
- Handles all categories of miscellaneous services
- Enables payables audit / verification using the contract engine
- Configurable workflow to support distribution of inward invoices across departments / locations
- Ability to generate accounting entries and posting to ERP system, eliminating duplication of data entry
- Template based implementation approach