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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.
FinesseMBS complies with IATA’s SIS standards for inward and outward billing. It has the flexibility to accommodate changes that IATA may introduce in the future, with minimal impact on existing systems.
FinesseMBS uses a single integrated invoicing and settlement process to standardise billing and accounting across business units. Result: faster invoicing and approvals; fewer errors and rejections.
The solution includes a powerful contract management engine to manage pricing contracts, and reduce rejection rate and revenue leakage.
The high degree of automation in FinesseMBS minimises human intervention and billing errors, leading to a 30% to 60% reduction in re-work and manual work.
Airlines have the flexibility to implement individual modules such as inward billing or outward billing; or choose engines such as workflow, accounting and contract management. This allows airlines to phase the implementation according to their business needs.
FinesseMBS is available on pay per use, thereby eliminating investment in infrastructure and licensing. Prebuilt interfaces and connectors save customisation costs.