Interline Billing Assurance and Audit
Kronos’ services includes a complete methodology for the verification of incoming and outgoing billing:
Hybrid model using powerful algorithms and experienced auditors
Proven solution to recover revenue by applying multi-pass strategy
Ad hoc rejection cycle management, including correspondence handling
Bilateral and multi-lateral agreements audits
Revenue recovery at granular level of fare, taxes, ISC and Other Commission and Fees
Generation of Supplementary Billing
Kronos’ consultants provide a blend of traditional and modern services to the Revenue Accounting business from a functional and technical perspective: Kronos’ consultants will provide the knowledge required to maximize the use of technology within the airline and optimize the revenue accounting process.
Kronos can perform a detailed evaluation of current software solutions and functional processes to enhance and maximize its use for the benefit of the organization. At Kronos, we strive in ensuring that the airline maximizes the use of revenue accounting data.
Kronos’ implementation team will work alongside the airline’s key personnel to establish and execute an implementation plan that will focus on delivering on-time results while reducing the risks and costs associated to implementation projects.
Kronos’ Implementation Services are designed to assist with the rollout of any size projects, allowing our clients to focus on their core business goals.
Current industry trends and competitive demands require the use and sharing of data coming from different data sources. Kronos’ deep familiarity with all available industry data structures and with the data streams from multiple software providers, puts us in a unique position to help our clients and its vendors in a fast, cost-effective manner.
GDS and Sales Audit
Due to the business complexity in which airlines operate, fees paid to GDS providers are always assumed to be accurate and a must have operating expense; however, the potential for revenue leakage is substantial and incremental if GDS transaction-driven fees are not monitored and properly audited.
Kronos offers a unique service for the review and audit of GDS fees, which guarantees tangible savings and a solid methodology to detect defects in the calculation of GDS charges. The net results are visible savings for an airline carrier and direct net benefits for its bottom line.
Passenger Sales Audit is another strategic service offered by Kronos Airline Solutions. This service implements a combined approach: a sophisticated sales auditing engine together with the interaction of very knowledgeable auditing experts for the detection of under collected fares and taxes and the over deduction of commissions.
The auditing services are performed on regular sales, exchanges, refunds and miscellaneous transactions coming from any complexity of sales channels and industry data streams.
Business Process Management
Kronos Airline Solutions provides a dedicated, flexible and customizable team of experts to assist our clients with data processing within the Revenue Accounting functions.
Our experts have been exposed and are capable of working with any revenue accounting solution already in place within the airline. Kronos’ team is familiar with the sales process, flown process, exchanges, proration, interline billing, reconciliation, accounting and system integrations.
Our clients benefit from the efficient and accurate procedures built into the daily activities by receiving immediate information as soon as it becomes available.
Proration Analytics and Training
Kronos offers the service of in-depth proration analysis by using "what-if" scenarios and customized tools.
Under this service, the efficiency of bilateral and multi-lateral airline agreements will be verified. The net outcome of this service is a set of recommendations to the airline to fine-tune and optimize bilateral and multi-lateral contracts with other airlines.
Kronos’ vast experience in the Revenue Accounting field provides our clients with a team of experts which provide in-depth knowledge of the revenue accounting procedures and operations. Our experts will train the airline staff all the revenue accounting standards, as well as, the latest industry trends.
Kronos coounts with prorate experts capable to demonstrating and teaching the airline's revenue accounting staff in ACH and IATA proration rules and procedures.
Prior to the planning and structure of the training courses, Kronos will work alongside the revenue accounting and financial team to evaluate the areas which are most critical to train the staff. Kronos will formulate a curriculum designed to address the needs of the airline’s revenue accounting and financial departments.
Kronos offers its clients with a comprehensive and detailed reconciliation of all forms of payments. Performing a 100% match to each transaction and the corresponding bank activities, such as credit card payments, bank transfers and deposits.
Our team will ensure that payment transactions are being reconciled versus the sales activity and ensure our clients the monetary transactions are being managed on a daily basis.