Next-generation Revenue Management Platform Launched to Deliver Better Financial Outcomes for Airports
R8 Revenue Management unifies automation, predictive insight and charge flexibility to help airports accelerate time-to-revenue realisation, improve cash flow visibility and maximise growth opportunities.
(London, 27. March 2019) – Veovo today unveiled the R8 Revenue Management System – its next-generation aero and non-aero billing platform – at PTE 2019.
With enhancements to processing speed, automation, charge management and the user experience, R8 Revenue Management helps airports accelerate time to invoice, improve revenue forecasting, win new carriers and expand routes.
The largest airport source of income is aeronautical charges levied per flight, calculated on factors such as landing weight, time of day, passenger numbers, and resources like gates and buses. However, the complexity of airport operations and the disconnect between revenue and operational systems can delay billing data availability and slow revenue realisation.
“As airports face a new era of capacity constraints, they urgently need to find ways to reduce revenue leakage and create new sources of revenue to fund future infrastructure development,” said Chris Warrington, VP Veovo. “R8 Revenue Management has been designed to tackle these challenges head-on. It is the industry’s only platform to provides bill-ready aero transactions, real-time revenue recognition, and unparalleled charge flexibility.”
R8 Revenue Management addresses this by:
Accelerating time-to-revenue generation through end-to-end automated processing.
+ Bill-ready aero transactions and intelligent exception handling slash time to invoice.
Smoothing cash flow with real-time revenue recognition.
+ In-line analytics gives financial managers a real-time view of the economic impact of operations, with insight into aero and non-aero accrued revenue.
Winning new carriers and improving throughput with any charge, discount and billing criteria.
+ Airports can create the differentiated tariff structures they need to expand routes, promote off-peak slot uptake or encourage faster aircraft turnarounds.
R8 Revenue Management is a key module of Veovo’s Predictive Collaboration Platform which connects, automates and optimises processes against real-time events across the airport. By generating business and role-orientated answer to challenges, Veovo helps airports plan, predict and perfect operations. and improve financial and guest experience outcomes.
Over 70 airports worldwide benefit from Veovo’s Revenue Management software, including Dublin, Melbourne, Hong Kong International, and the UK’s AGS Group. The new R8 version is currently being rolled out to several airports including Belfast International and a Tier 1 US airport.
“Veovo has allowed us to gain a good understanding of the security check-point dynamics, and most importantly, our customers benefit directly by getting a better service.”
“We are able to keep our passenger fully informed 24/7 about what to expect at security. Our aim is to make the experience as smooth as possible – Veovo helps us do that.”
“With Veovo, we can proactively manage passenger flow, and respond promptly and efficiently to irregular operations and disruptions.”
“Vital to our Master Plan programme is a deep understanding of airport capacity, bottlenecks and constraints, and Veovo is key to this.”
“Veovo has allowed us, together with our airport partners and stakeholders, to better manage operations, as well as improve the passenger experience by communicating expected wait times to passengers at processing points.”
“Veovo has dramatically improved our real-time operational decision-making, post-performance analysis, and capacity planning data analysis capabilities. But, perhaps, more importantly, it has helped us give our passengers a more positive airport experience.”
“Veovo gives us a clear picture of passenger movements, allowing us to provide the best customer service and proactively manage service levels before any issues arise.”