Product Release Update Rev – May 2023

[vc_row full_width=”stretch_row_content” bg_type=”bg_color” css=”.vc_custom_1607076975222{padding-top: 30px !important;padding-bottom: 30px !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}” bg_color_value=”#2ad2c9″][vc_column][ultimate_heading main_heading=”Product Update – May 2023″ main_heading_color=”#ffffff” main_heading_font_family=”font_family:Lato|font_call:Lato” main_heading_style=”font-weight:bold;” main_heading_font_size=”desktop:50px;mobile_landscape:40px;mobile:40px;”]

What’s new in Revenue Management

[/ultimate_heading][/vc_column][/vc_row][vc_row full_width=”stretch_row” bg_type=”bg_color” css=”.vc_custom_1682930513875{background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_column][vc_column_text css_animation=”none”]Veovo Revenue Management is a web-based application for aero and non-aero billing. Available on-premise or in the cloud, and with unrivalled charge flexibility, it is used by some of the largest airports in the world to improve billing accuracy, encourage route growth and incentivise airline behaviour such as more off-peak flights or reduced CO2 emissions. There are new releases to the software every quarter, and highlights from the last few releases are outlined below.[/vc_column_text][/vc_column][/vc_row][vc_row gap=”30″ bg_type=”bg_color” bg_override=”full” bg_color_value=”#ffffff”][vc_column width=”1/2″ css=”.vc_custom_1607937180533{background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_column_text]Day period charging

This system allows users to configure their settings based on specific day periods, with a wider range of options than just peak charges. Day period charges now also include situational factors such as airport closures, airline curfews, or peak debtor periods. 

The use of time-of-day charging encourages efficient airport resource usage and efficient airline behaviours aligned with airport priorities, such as the use of remote stands during morning peaks. This also gives airports the ability to pass on any legislative fines or charges for breaking curfews etc.  

In addition to these new major features, each release has a mix of improvements to usability, data maintenance, and other features following customer feedback. Release notes are available for each quarterly release. [/vc_column_text][vc_column_text]

[/vc_column_text][/vc_column][vc_column width=”1/2″][vc_column_text]Unbilled revenue forecast/ interim billing runs 

Billing issues often go unnoticed until the billing process is already underway. This creates a lot of pressure for the billing team to quickly resolve the issues to avoid invoicing delays or lost revenue. 

Unbilled Revenue Forecast has been introduced to address this challenge. It allows the billing team to perform automated or manual interim billing runs multiple times during the billing period. These run on a daily schedule with set criteria. These runs help to calculate and project the expected revenue from events that have occurred so far. They also highlight any exceptions and identify incorrect charges, which can be fixed well in advance of the final invoice run. 

Interim billing reduces the time it takes to resolve issues related to events, which in turn provides more confidence for the final invoice run and reduces the number of unprocessed adjustment cases.  [/vc_column_text][vc_column_text]

[/vc_column_text][/vc_column][/vc_row][vc_row bg_type=”bg_color” bg_override=”full” bg_color_value=”#ffffff” css=”.vc_custom_1682930471957{padding-bottom: 20px !important;}”][vc_column width=”1/2″][vc_column_text css=”.vc_custom_1683015575315{padding-right: 20px !important;padding-left: 20px !important;}”]Real-time billing queue 

The new real-time billing feature includes status indicators, heart-beat monitors and progress fields that provide users with a live view of the background activities related to live billing runs, interim billing runs and data preparation. With these tools, users can, at a glance, monitor the progress of various processes and activities. 

This feature is particularly useful for high-volume billing runs where there are many complex processes and activities that need to be monitored. By providing real-time updates and progress reports, users can ensure everything runs smoothly and take action if required. [/vc_column_text][/vc_column][vc_column width=”1/2″ css=”.vc_custom_1607937180533{background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_column_text css=”.vc_custom_1683015611913{padding-right: 20px !important;padding-left: 20px !important;}”]What’s Next in Revenue Management

Due end Q2 2023:  Route Support Incentive Schemes.
The next release will make it easier for airports to set up Route Support Schemes to encourage airlines to expand or launch new routes by offering financial incentives. These can be configured to align directly with the airport’s commercial priorities and can take the form of rebates, percentage discounts, or changes in specific airport charges like landing, parking, passenger, and airbridge fees. They can also be set up on a sliding scale, e.g. the rebate decreases each year over a three-year period.   [/vc_column_text][/vc_column][/vc_row][vc_row full_width=”stretch_row” bg_type=”bg_color” css=”.vc_custom_1583925088091{background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}” bg_color_value=”rgba(42,210,201,0.21)”][vc_column width=”1/3″ css=”.vc_custom_1583924228441{margin-top: 50px !important;}”][/vc_column][vc_column width=”1/3″ css=”.vc_custom_1587113115240{padding-bottom: 20px !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_column_text css=”.vc_custom_1682635980757{margin-top: 20px !important;}”]

Want to learn more about how to access these new features?

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