Digitalization has revolutionized the way airline products and services are merchandised, marketed, and distributed. Today, airlines and travel agencies have improved tools to sell and distribute their products to tech-savvy consumers. But despite all the progress that’s been made to transform the airline digital retailing space on the customer-facing side, a looming problem threatens to limit the potential benefits of this innovation for travel agencies. That’s because the back-office business processes surrounding incentive programs still rely on spreadsheets and manual entry of transactions, limiting ability of travel agencies to monitor revenue and impacting profitability.
One firm helping to change this travel agency status quo is Avian, a technology company that provides new incentive contracts analysis technology to allow travel agencies greater insight and control over their incentive contracts with airlines.
The online software platform allows travel agencies to easily scan airline incentive agreements by means of a simple drag-and-drop experience with no manual filing. It also connects agents to the BSP (IATA’s Billing Settlement Plan), ARC (Airlines Reporting Corporation), and the GDSs (Global Distribution System), making it faster and easier to get a real-time overview of their revenue and performance from airfare commission and incentive programs.
This solution also makes it easier for travel agencies to forecast complicated calculations like the company’s flown revenue (a net revenue from consumers who bought their tickets from a travel agency, got on board, and actually flew). Flown revenue is recognized as a key metric to manage performance versus program targets in a timely manner. Yet tracking flown revenue using manual calculation methods is often cumbersome, highly inaccurate, time-intensive and costly.
Profit Margins Affected Due To Delayed Reporting.
In the old analog model, critical performance data never reached the travel agency in time, leaving them unable to make meaningful pricing or marketing decisions based on the insights. But now, new digitized incentive tracking solutions like Avian are helping travel agencies optimize the process they use to track flown revenue in real-time and manage contract variables. Best of all, AI algorithms like those developed by Avian can go one step further, helping recommend strategies agencies can use to further improve revenues from incentives and increase profits.
“The system allows them to pinpoint specific sales targets, track performance, and steer sales into an upward curve by making sales predictions and our API will allow any OTA and TMC to optimize their revenue from incentives and commissions,” said Mickey Haslavsky, CEO of Avian, a software solution provider.
“It is often difficult to keep track and organize this vital piece of our business and Avian has been a tremendous help with this. They have made back-end and upfront incentives tracking sync with their unique software. It lets us know exactly when and what we need to know relating to any of our contracts at any time with a few clicks of the mouse,” said Steven Borukhin, chief business development officer of DownTown Travel.
“This technology brings real innovation into the airline-agency relations by applying the idea of a free marketplace to the formerly exclusively bilateral field of commercial agreements,” said Ondrej Cikanek, vice president of content at Kiwi.com.
The software can also help agencies gain new insights into their supplier relationships and ROI/negotiations for airfare sales. Avian does this by presenting all airline incentive plans in one place with a standard format to compile their different terms and conditions. Having a centralized and consistent view of these plans’ terms will help travel agencies better monitor their different revenue streams, reach their sales targets, and increase profit margins.
Visit https://www.avian.aero for more information.
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