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.
Before you receive an invoice from vendors, you’ll know what’s coming your way. We calculate all flight-related costs, based on operational data and vendor contracts. These are posted as accruals in the books of accounts to ensure timely and accurate financial closing. FinesseCost will help you understand your monthly closures well in advance, and plan accordingly.
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.
Streamline your workflow process across all aspects of your airline. We help you automatically capture and standardize your invoices, whether they’re scanned documents or emails. Then we validate all the data against expected bills, thus ensuring everything's running smoothly. It saves you tons of time and minimizes errors. You can even capture all your operations at the source using a simple iPad app.
"We are extremely excited about our partnership with Mercator. They demonstrate the same core values we hold and have provided us with a timely, efficient solution to a complex issue while maintaining strong internal controls and providing excellent customer service. This solution has provided a valuable part of the foundation for our growth relating to our interline strategy."
- Lorem Ipsum Name, Company
"We are extremely excited about our partnership with Mercator. They demonstrate the same core values we hold and have provided us with a timely, efficient solution to a complex issue while maintaining strong internal controls and providing excellent customer service. This solution has provided a valuable part of the foundation for our growth relating to our interline strategy."
- Lorem Ipsum Name, Company
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