Swedish airport operator Swedavia has signed a long-term agreement with Veovo to install its Revenue Management System.
With this agreement, the system will aid in the automation and centralisation of the major aeronautical revenue streams billing.
In addition, it will offer a platform to drive sustainable growth.
An airport’s major source of income is from aeronautical revenues, which are said to be complex. It is based on factors that include aircraft movement, weight and passenger numbers.
Due to the complex operations and the number of systems, there may be a probability for data inaccuracies and billing delays, which can be higher for multi-airport operators such as Swedavia.
The Revenue Management System is expected to increase the efficiency of Swedavia’s invoicing processes.
Veovo’s technology automates the collation, preparation and processing of billing data, which leads to decreased revenue leakage, reduced billing errors and a boost on the cash cycle time.
Swedavia also benefits from a better visibility regarding the important income-generating streams across all operations.
Veovo CEO James Williamson said: “We are delighted that, even at this time of industry upheaval, Swedavia has decided to commit to a long-term contract with Veovo.
“Swedavia joins over 70 airports around the world, who are successfully using Veovo Revenue Management to underpin their growth strategies.”
Last August, Belfast International Airport adopted Veovo’s R8 Revenue Management and Passenger Engagement applications to optimise operations.
In November 2018, Iceland’s air navigation service provider Isavia planned to expand implementation of the Veovo Flow Management solution at Keflavík International Airport to help improve passenger flow.