IBS Software has launched an integrated revenue management system at Korean Air to Boost Cargo Profitability
IBS Softwareâ€™s iCargoplatform provides intelligent operational analytics that enable Korean Air to determinethe selling price of capacity and ensure maximum profitability. IBSSoftwares iCargo platform has overhauled Korean Air cargo pricing model by deploying an integrated revenue management system, to improveyields and boost profitability. An industry first, the solution provides intelligent,intuitive analysis and algorithms, fully integrated to the core sales andbooking system that delivers unrivalled insight into critical commercialoperations â€“ allowing Korean Air to determine the selling price of capacity andensure maximum profitability per shipment carried. IBSdeveloped the revenue management solution as an extension of its iCargo cloud platform deployed earlier this year by KoreanAir, one of the top cargo carriers in the world by volume, to improveoperational efficiency. Working in close collaboration with Korean Air todefine its needs for this highly complex and business-critical function, IBSincorporated its full data analytics and machine learning capabilities to developthe solution. Aspart of this phase of this rollout, IBS also rolled out the new Sales App mobilitymodule, designed to support sales and marketing teams with maximum conversionof opportunities by providing real time access to customer profiles, customeranalytics and capacity predictions to support Korean Air cargo operations. Inaddition, several new automation tools were also introduced for terminaloperations at Incheon Airport, the hub of Korean Air cargo operations.
Withthe introduction of the integrated revenue management module into the iCargosolution, IBS has brought to the market a fully integrated package of allbusiness functional capabilities that are essential for the successfulmanagement of air cargo businesses for airlines and ground handlers of allsizes and business model: sales, operations, revenue accounting, mail handling,mail revenue accounting and cargo revenue accounting. NOH SAM SUG, Head of Cargo &Senior Vice President, Korean Air cargo said, I am very pleased to announce the successful go-live ofIBS iCargo Revenue Management solution at Korean Air Cargo. I also take thisopportunity to thank the teams from IBS and Korean Air who worked together todevelop the integrated revenue management solution that will help Korean Air tobetter match the cargo supply and demand while improving profitability. KoreanAir looks forward to partner with IBS Software in future opportunities relatedto cargo and other core airline business systems as well. At IBS were thrilled to have such aprogressive partner in Korean Air, a dominant player in the air cargo industry whois leaving no stone unturned in their quest to modernise their operations toboost profitability and deliver exceptional customer service, said Ashok Rajan, SVP & Head of Airline CargoServices, IBS Software. The addition of revenue management to theiCargo platform is an exciting new development in our mission to supportairlines all over the world generate maximum value from their operations and gaina competitive edge. We are proud to be associated with an industry stalwartlike Korean Air in this journey