LATAM Airlines Group selects REVERA® PRA to standardise revenue accounting process across the group

Mumbai and Barcelona : Accelya, the leading provider of financial and business intelligence solutions to airlines, today announced that LATAM Airlines Group, the largest airline group in Latin America, has selected Accelya’s REVERA PRA to standardize the passenger revenue accounting processes across the airlines that are part of LATAM Airlines Group. Accelya has also been LATAM Airlines Group’s partner for Interline Billing, Audit & Revenue Recovery, Card Management and airline Market Share Analysis.

LATAM Airlines Group is one of the largest airline groups in the world, flying 68 million passengers a year. LATAM Airlines Group’s passenger revenue accounting is an important source of revenue information for its internal stakeholders to take business decisions. Given the large volumes, multiple airlines and geographical spread of the business, LATAM Airlines Group was facing the challenge of managing this information with desired quality and timeliness. Therefore, they decided to partner with Accelya to standardise their processes across the group.

“We partnered with Accelya after evaluating various revenue accounting solutions in the market. As a large airline group, we needed a proven solution to standardise our processes. We found REVERA to be the best fit for us. We are confident that this solution will help us manage our volumes across LATAM Airlines Group with operational ease, speed, accuracy and quality that are the best in the industry”, said Andrés Osorio, Chief Financial Officer, LATAM Airlines Group.

“Revenue accounting function is an important source of strategic information for LATAM Airlines Group. The strategic information from REVERA will help us transform revenue data across our group into actionable intelligence.” said Felipe Pumarino, Revenue Accounting Director, LATAM Airlines Group.

REVERA will help LATAM Airlines Group to,

  • Gain better control and monitoring through standardization of processes across all  airlines that are part of LATAM Airlines Group
  • Declare revenues accurately and on time
  • Get actionable intelligence and insight into financial performance
  • Get single-vendor accountability

Speaking on the occasion, Jordi Arcalis, Chief Commercial Officer, Accelyasaid, “This deal with LATAM Airlines Group reinforces our long standing partnership with them. I am confident that we will continue to add value to their business and support them in their growth”.

“The scope and complexity of Revenue Accounting has been ever increasing. As a result, revenue accounting teams are under pressure to not only record and protect revenue, but also actively contribute to the decision making process. REVERA®, in combination with APEX®, provides airlines the ability to accurately transform data into actionable intelligence”, said Philip Fernandes, EVP & Head – Revenue Accounting Practice, Accelya Kale Solutions Limited.

About REVERA® PRA

REVERA PRA is designed to take an airline’s revenue accounting function to the next level. From more accurate and faster revenue declarations to strategic analytics and actionable insights, it completely transforms revenue accounting. Built-in operational and accounting controls ensure compliance to risk management standards. With it’s easy to use interface, REVERA PRA works smoothly on all touch friendly devices. REVERA PRA is powered by APEX®, the industry-endorsed and highly accurate proration and tax management engine. REVERA PRA comes from Accelya’s market leading revenue accounting suite REVERA, covering passenger, cargo and airmail.

About Accelya Kale

Accelya Kale Solutions Limited (formerly known as Kale Consultants Limited) is part of the Accelya Group. Visit us at: www.accelyakale.com

About Accelya

Accelya is a leading provider of financial and business intelligence solutions to the Airline and Travel industry. Accelya helps airline and travel companies manage their financial processes and gain insights into their business performance.

Accelya’s expertise spans across all critical airline financial processes – BSP Processing, Revenue Accounting, Audit & Revenue Recovery, Card Management, Miscellaneous Billing, Cost Management and Business Intelligence. Accelya partners with airlines right from the time a ticket or an air waybill is issued, all the way through its entire financial life cycle, until the data is converted into actionable decision support.

With over 200 airline customers, our operations are spread across 9 countries and Accelya employs over 2000 professionals worldwide.

Accelya has been voted as ‘Reader’s Choice Company 2015’and ‘IT Company of the Year 2014’ at Air Transport News Awards and ‘Information Technology for the Air Cargo Industry’ at ACW World Air Cargo Awards 2014. Visit us at: www.accelya.com

About LATAM Airlines Group S.A.

LATAM Airlines Group S.A. is the new name given to LAN Airlines S.A. as a result of its association with TAM S.A. LATAM Airlines Group S.A. now includes LAN Airlines and its affiliates in Peru, Argentina, Colombia and Ecuador, and LAN Cargo and its affiliates, as well as TAM S.A. and its subsidiaries TAM Linhas Aereas S.A., including its business units TAM Transportes Aereos del Mercosur S.A., (TAM Airlines (Paraguay)) and Multiplus S.A. This association creates one of the largest airline groups in the world in terms of network connections, providing passenger transport services to about 140 destinations in 24 countries and cargo services to about 144 destinations in 26 countries, with a fleet of 318 aircraft. In total, LATAM Airlines Group S.A. has approximately 53,000 employees and its shares are traded in Santiago, as well as on the New York Stock Exchange, in the form of ADRs, and Sao Paulo Stock Exchange, in the form of BDRs.

LATAM Airlines Group announced that LATAM is the new brand for LAN Airlines, TAM Airlines and Affiliates. LATAM Airlines Group is currently working on the gradual roll-out of the new corporate brand image. The first changes will be visible starting in the first half of 2016.

Each airline will continue to operate under their current brands and identities. For any inquiry of LAN or TAM, please visit www.lan.com or www.tam.com.br, respectively. Further information at www.latamairlinesgroup.net

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