The airline industry has experienced a lot of changes these past twenty years. Rising costs, government regulation, and periods of passenger decline have all but grounded the fleet at times. When these concerns came to a head in the early 2000’s, most airlines began looking for ways to radically trim costs. One way was to restructure inefficient accounts payable departments. The solution? Electronic invoicing.
Today, many of the airline industry’s AP departments are soaring, thanks to accounts payable automation. For example, not long ago one of the world’s largest airlines turned to industry leader iPayables to put their inefficient system behind them. iPayables was able to switch the carrier to the most flexible and accessible AP automation solution available, InvoiceWorks®.
The result raised eyebrows. That same carrier was able to reduce its staff by more than eighty (80%) percent. Errors dropped dramatically and turnaround time increased. Moreover, efficient electronic invoicing helped other areas outside the AP department run smoother, from management to the mailroom.
AP Automation means fewer errors, easier tracking of data, and the virtual elimination of lost invoices and authorization lag. Vendors love it, too. It saves them paper and mailing costs, and where once they would have been on the phone chasing the status of an invoice, now they can point and click any hour of the day. The program is easy to navigate, and customizable to each vendor’s needs.
The thought of switching to a new automated AP system can be daunting, but with the right accounts payable solution it doesn’t have to be. A dynamic AP automation provider that knows the industry can to get even the largest company off the ground in short order. That includes bringing vendors on board smoothly.
And cost? Not only is the airline mentioned above reporting considerable savings, its AP department is bringing in revenue by taking advantage of discounts they never could before.
Newer, more streamlined aircraft are slicing through the air more efficiently these days, saving time and cost. Your AP department can and should do the same by utilizing cutting-edge AP automation solutions. So, become part of the future of flying. Contact an industry leader that knows how AP works in the airline industry and get your AP department off the ground.