Accounts Payable Automation for Airlines
Perhaps no sector of our economy is more vulnerable to the ups and downs of business cycles than the airline/aerospace industry. iPayables, the leader in e-invoicing, knows this and has spent the last two decades developing and improving its accounts payable automation for airlines to benefit this key business segment.
Airlines often operate on a thin margin; it’s the nature of the beast. Unfortunately, that margin can be profoundly affected by variables such as rising fuel prices and the flying habits of consumers and business-people. It’s the same with the growing private aerospace business.
For this reason, like the design of their planes, airlines are always looking for ways to streamline their corporate model and make things run smoother. Nearly twenty years ago, a major airline decided to entrust its new accounts payable automation needs to iPayables. This Fortune 500 company with offices and air routes all over the world saw what the iPayables solution could do to cut the time, effort and cost of processing hundreds of invoices that came their way every month.
This company was able to cut the staff needed for processing invoices, the time required to process invoices went from weeks to a few days, and they continue to save money by taking advantage of dynamic discounting.
Private aerospace companies are learning the same lessons these days. What used to be handled exclusively by giant agencies like NASA is now being taken over by private firms like Space X and Virgin Galactic. Stiff competition between these companies inevitably leads to a need to cut waste, and enterprise-level AP automation is a powerful cutting tool.
Through long experience, iPayables has come to recognizes the unique problems and challenges faced by the airline/aerospace industry. So much that iPayables is connected with IATA and has even designed a supplier portal specifically for airlines. Accounts payable automation for airlines is simpler and more effective with the right solution.