SkyTRAACS is an innovative Airline Finance Management solution that enables Real-time revenue and cost tracking, and advanced reporting that assists airlines in improving their financial performance and making data-driven decisions to strengthen their bottom line. SkyTRAACS offers a fully integrated Back Office solution for Airline Finance with advanced accounting features supporting airlines streamline their financial operations. It can be integrated with the airline’s PSS and other Operations Systems, automatically creating all necessary financial entries.
SkyTRAACS increases efficiency by streamlining the financial processes through effective automation of day-to-day back-office finance activities enabling better allocation of resources. SkyTRAACS enables a considerable reduction in reliance on manual work that helps reduce the need to increase resources with business growth.
SkyTRAACS simplifies airline finance management by providing real-time access to financial data. This helps airlines to make informed and timely decisions helping in improved financial performance.
SkyTRAACS offers a centralized platform for a 360-degree Airline finance management, assuring transparency by providing a single source of financial information. This ensures that all financial data is consistent, accurate, and up-to-date, which makes it easier to track and monitor financial performance.
SkyTRAACS does fully automated cross-referencing of airline operational data against predefined benchmarks, historical trends, and industry standards to derive financial data thereby eliminating any inconsistencies or anomalies which are flagged, ensuring data integrity and enabling timely corrective actions.
SkyTRAACS delivers clear and detailed financial reporting, providing a comprehensive overview of the airline’s financial performance.
SkyTRAACS provides real-time access to financial data, which increases transparency and visibility into the financial performance of the airline. This allows stakeholders, including investors, shareholders, and regulators, to have up-to-date information on the financial health of the airline.
Real-time and accurate financial reporting helps in effective data analysis and forecasting leading to timely and informed decision-making.
SkyTRAACS help airlines to reduce revenue leakages by providing accurate and timely revenue data, automating billing and revenue accounting processes, and detecting and preventing inaccuracies through effective reconciliation of billing data. This helps the airline to improve its bottom line.
SkyTRAACS streamlines financial and operational processes by reducing manual intervention through extensive automation of day-to-day back-office financial activities that improve the efficiency of workflows. Integrated with PSS and DCS systems, SkyTRAACS fully automates Travel Agent Invoicing and Revenue Accounting to a very high degree. Additionally, SkyTRAACS also automates daunting reconciliation tasks like interline billing reconciliation, Unclaimed No-Show tickets reconciliation, supplier reconciliation, and bank reconciliation, which helps the reallocation of resources to focus on strategic activities.
SkyTRAACS serves as a single platform for performing all the financial activities that include, Billing, Revenue Accounting, Cost Accounting and Financial Accounting, giving the airline management a full insight into the entire spectrum of financial activities performed, enabling better understanding and visibility of the Airline’s financial position. Also, SkyTRAACS gives real-time access to financial data like accounts receivable, accounts payable and general ledger coupled with enhanced financial reporting which backs data analysis, and the ability of the software to accurately derive route and flight-wise performance data helps in optimised flight schedule planning, route planning, fleet optimization, managing promotional activities and forecasting.
SkyTRAACS encompasses a complete spectrum of day-to-day back-office financial activities in a single platform enabling airlines to assess their revenue and cost performances effectively with the help of real-time financial data. This integration of a variety of financial activities helps the airline management to derive a holistic financial insight. An all-encompassing view of the daily financials helps exert better financial control as it gives the management better visibility of data to make informed decisions.
Moreover, the ability of the SkyTRAACS system to integrate different financial functionalities into a single system reduces data inaccuracies preventing revenue leakage which improves the overall financial performance.
Revenue leakage is one of the major concerns identified in the Airline Industry. This is mainly due to various reasons like lack of automation in financial processes, lack of real-time financial reporting causing delays in data analysis, manual reconciliation of supplier and interline invoices leading to errors and data inaccuracies.
The extensive reporting and real-time availability of financial data, and the high level of automation achieved in interline reconciliation, travel agent invoicing and Revenue Accounting processes in SkyTRAACS reduce data errors drastically.
Additionally, comprehensive user management capability increases data security and the extensive drill-downs in the reports give Airline Management clearer visibility into the data at the transaction level, helping identification of data inaccuracies and data frauds, and taking corrective actions in a timely manner.
Preventing revenue leakage helps improve the bottom line and boosts confidence, and sets the narrative for better overall financial performance.
All expectations met!
A great disponibility and a perfect understanding of all our requirements.
The product comprehensively handles many difficult day-to-day endeavours like interline settlement, supplier invoicing with utmost ease. It is extremely user friendly. The commission modules have helped us save revenue leakage many a times. We are sure that in future the product will help us to significantly save time and manpower, which we have already started realising. Additionally, the support from management and the product team is really something that sets a benchmark for other firms to follow.
