Corporate Blog

How automation in revenue accounting boosts air cargo revenues and operational efficiency

How automation in revenue accounting boosts air cargo revenues and operational efficiency

Automation improves operational efficiency by accelerating the processing of repetitive tasks and reducing the risk of human error. From the revenue accounting standpoint, automation also improves revenue recognition through improved quality audits and faster invoicing, accounting, and reconciliation. Let´s explore six key areas where automation generates significant improvement in air cargo revenue accounting. 1. Quality audit  Detecting and correcting errors post invoicing is costly. It's time-consuming and requires a lot of effort between the stakeholders to resolve discrepancies resul...

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Giving air cargo cashflows a little more oomph with innovative payment solutions

Giving air cargo cashflows a little more oomph with innovative payment solutions

Technology is transforming air cargo with innovation being injected right across the value chain. But there's one area that's due for little more tender love and care: air cargo payments. It's a complex issue with so many different currencies, systems, processes, and stakeholders to deal with when connecting the dots between shipment origin and destination. And this is why it typically takes 30-45 days for payment remittances to come through after service completion when unexpected surprises don´t appear. But the reality is that unexpected charges can accrue quickly across the different phases...

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A new era for airline retailing with offers

A new era for airline retailing with offers

The success of online retailers is heavily driven by their adoption of state-of-the-art offer creation practices and technology that are directly linked to customer needs. While the travel industry is still catching up, the journey to evolving from static fare filings based on booking classes to a world of dynamic offers, orders, and customer-centricity has begun. Dynamic offer creation delivers more value to customer needs, improving customer satisfaction, increasing conversion, and boosting airline revenues. A modern underlying architecture allows new partnerships to be quickly integrated an...

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The beauty of simplicity on the road to increasing hotel TRevPAR

The beauty of simplicity on the road to increasing hotel TRevPAR

While there are optimistic signs that the travel industry is beginning to recover from the pandemic, growth varies greatly between regions and is still expected to take a couple of years to reach 2019 levels. In this volatile environment, competition is fierce to tap into limited traffic levels. And with so many hotel properties around the world, hospitality is no exception. As in other areas of the travel industry, the leisure segment is driving recovery with corporate travel still lagging behind, and expected to do so for some time. Yet, there is pent up demand for travel which is proving to...

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Sowmya Sharath, Senior Architect, Digital Innovation team, IBS Software, Cochin, India

Sowmya Sharath, Senior Architect, Digital Innovation team, IBS Software, Cochin, India

Hello Sowmya, tell us about your role I'm a Senior Architect, part of the Digital Innovation team in the Consulting and Digital Transformation business. We look at how we can utilise upcoming digital technologies to create solutions for the travel industry. I'm particularly focused on Natural Language Processing (NLP); it's a branch of artificial intelligence (AI) that enables computers to understand human language, in text or voice form. It's found in applications such as Google Assistant, Alexa and chatbots. What do you enjoy about your work?  Learning about new technologies and underst...

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