Getting the finance team involved early in the process could be the key to unlocking the high-performance retailing potential of ONE Order, writes Muffi Lokhandwala, Business Development for Financial Solutions at Accelya.
Technological changes typically bring opportunities for airlines. That covers both expanded commercial potential and the simplicity of systems and processes. Maximizing those opportunities though requires that every team that will be impacted by the change is involved from the start. Bringing the finance team out from “behind the scenes” in the planning and integration phase could be critical in a transformational change such as the implementation of ONE Order.
Early input from all key teams is critical
Although often regarded as “back office”, finance has a critical role to play in compliance, risk, and reporting. Best practice demands that finance has a 360-view of what’s going on in the organization so that surprises can be avoided. Ensuring this is delivered in a change as fundamental as new messaging and standards for Order transformation, and subsequent settlement and accounting is therefore essential.
Too often, however, the input of teams that will implement and integrate new standards is introduced too late. Early cooperation can help to avoid bottlenecks and difficulties further down the line.
There’s a lot to think about as airlines consider the implementation of ONE Order to drive order transformation. And in this journey to high-performance retailing, it’s critical to think as carefully about what happens on the back end in accounting and control systems as the front end. This is particularly urgent if airlines are to achieve IATA’s goal of being in control of 100% of Offers & Orders by 2030.
To read the entire blog from Muffi Lokhandwala, please click on this link or visit Accelya.com