It is imperative for airlines to minimize revenue leakage given the volatility in fuel costs, geo-political events, and changes in government policies
Real-time recognition of online and offline sales, including the fare and fee components, enables airlines to anticipate and collect revenue faster and improve their cash flow
Airlines can significantly improve their bottom line by modernizing and implementing PRA management operations that work across accounting systems and can automate as many related PRA business processes as possible
BPM providers can enable airlines to transform their Passenger Revenue Accounting (PRA) strategies to deliver greater shareholder value, supporting decision-making, automating processes, complying with regulations, and mitigating risks and losses
Passenger Revenue Accounting (PRA) is growing in importance because global operations have become more complex as a result of mergers and acquisitions, planned network expansion, codeshares and alliance partnerships. Inefficient PRA operations can adversely affect airline operations, increase exposure to risk and lead to avoidable costs. An effective PRA management partner enables better data management; including the development of rules-based processes, and appropriate staffing to handle relationships with partner airlines, travel agents and other industry bodies. This whitepaper outlines how a Business Process Management (BPM) partner offers output-based and outcome-based pricing models, which offer flexibility, variability and transparency to the airline – strategies that deliver shareholder value.
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28 January 2022
Finance and Accounting