You don’t do business in a vacuum. You are competing in a complex environment encompassing technology, compliance, skilled workers, accounting standards, competitors, and more than a handful of regulators and tax authorities.The competitive pressure in the airline business has never been greater. Airlines are being weighed down by the spiralling costs at different levels and there is a pressing need to find ways and means to boost the hard-earned revenues and streamline the costs to ensure viability and growth.
Interestingly, Revenue Accounting and Control (RAC), considered as the lifeblood of an airline, represents an unparalleled opportunity for you to take a step back and gain insights into the key processes that define your judgement. Is the money invested in the RAC system justified in an era of high level automation? How much are you paying monthly for your BPO services, if any?
How much are you disbursing for any single enhancement in the system? All these may inevitably raise interrogations. Adding all the costs together can amount to millions of dollars that have been taken out from your income and may reflect unproductiveness and inefficiency in your business model.
Why should an airline pay so much for its RAC services and products when we are in an era of technology and the daunting manual processes are taken over by electronic interfaces? Although, one is looking for certainty and reliability, all costs should be measured to ensure effectiveness.
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