Direct operating costs represent 50-60% of an airline’s total cost structure. Today, it’s challenging for an airline to verify and validate each DOC invoice against operational data and complex vendor contracts; most airlines adopt sampling methods to verify vendor invoices. Plus, airlines overpay their vendors between 0.5%–2.5% depending on the DOC category. As a result, airlines are spending billions of dollars in vendor overpayment.
FinesseCost streamlines payables, automatically processing e-invoices and estimating accurate DOCs against operational data sets and vendor contracts. This eliminates gross overbilling and helps you save money on everything from fuel to cargo handling.
With FinesseCost, managing vendor contracts is streamlined through a powerful contract management engine. In order to prevent overpayment, contract information and operational data are measured against incoming invoices. This helps check for the discrepancies that lead to overbilling, even with complex vendor contracts dealing with taxes, discounts, group deals, and the like.
Compare vendors over time and across stations. This allows you to negotiate discounts and better vendor rates because you see the entire scope of what’s happening. FinesseCost also provides near real-time reporting of operating costs at flight level so you can analyze profitability, plan your budgets and forecast individual flights with greater accuracy. This in turn provides valuable insights for cost control and rationalization.