An interview with Neela Bhattacherjee, Executive Vice President – Financial Solutions, Accelya, in Airlines International.
Dublin, 25 September 2017:
How would you best describe the current industry landscape?
Powerful forces are reshaping the airline industry; shifts in passenger and cargo demand, expanded regulatory requirements, technological capabilities, and the increased availability of data and information. Against this backdrop, major transitions are under way that will transform the airline revenue accounting space such as ONE Order, blockchain and IATA’s HIPO intiative. Airline executives must not only navigate through these changes in the short term to build market share and profitability, but also take steps now to position themselves for success in the future.
How have new technologies, such as data analytics, impacted the financial considerations of airlines?
Now, more than ever, airlines rely on data to understand their customers and their businesses. In our recent Airline Finance Professional’s Outlook (AFPO) Survey, more than 60% of respondents indicated that big data and analytics are essential to creating an airline digital finance ecosystem. More data means more opportunity, and incorporating cutting-edge data science techniques that facilitate actionable insights has become a key source of differentiation and competitive advantage. As such, we are witnessing a shift from traditional revenue accounting to strategic insight capability.
What are Accelya’s plans with regard to airline revenue accounting?
Following the combination of Accelya and Mercator earlier this year, we are pleased to announce the integration of our solutions to create best of breed platforms for passenger and cargo revenue accounting. We are committed to helping airlines stay ahead of the curve with an end-to-end view of revenue accounting supported by future-ready technology and the industry’s most comprehensive set of features.
The integrated system will have a common BI, admin platform, reporting tools and workflow management engine to enable customers to achieve operational efficiencies and maximize the use of internal resources.
What are your customers most excited about in the new revenue accounting platforms?
Our new revenue accounting platforms will incorporate combined functionality spanning 40 years of experience across 90 customers. In line with sustainable financial health initiatives, our platforms are integrated into our financial portfolio to maximize efficiencies across the procure to pay and order to cash lifecycles. The platforms are also based on web-enabled technology, which offers more automation, dashboards for operational control and a reduced TCO.