Rassure

Not Detected. Not Seen. Lost Profit.

Audit COVID-19 Exchange & Refunds Automatically

Buried under tens of thousands of airline ticket refund applications? Pleased to announce that Rassure has implemented ATPCO Emergency Flexibility for Changes to Fare Rule Conditions on Existing Tickets. RAXTM is now able to automatically audit airline refunds and validate them against either the original fare rules or if qualifying, against exceptions coded using ATPCO’s Emergency Flexibility. This service enables an airline to utilize the ATPCO facility to code the automatic processing of COVID-19 exceptions to standard exchange and refund rules, enabling agents to handle Exchange and Refunds automatically via GDS rather than submitting a refund application to the airline. Benefits for airlines using this ATPCO facility combined with Rassure’s refund validation service are:

  • Save time and money: Practical alternative to manual processing via Refund Application Processing. Automatic refunds via GDS + automatic audit review by RASSURE RAXTM vs costly manual processing and review of each refund application.
  • Immediate Processing: Preconfigured ATPCO Emergency Flexibility for Voluntary Changes and Refunds Rules (COVID19 Rules) on RASSURE RAXTM
  • Increased Refund Audit Frequency: Covers the airline’s exposure to ARC & BSP refunds through frequent Refund Audits, i.e. Daily, Weekly, Fortnightly, Monthly. 
  • 100% validation: Rassure’s audits are based on reviewing 100% of tickets, clients can be confident that every refund, no matter how many, will be audited. 
  • Error Free Service: RAXTM implements and checks through all data supplied by Airline at time of processing.

Airline Revenue: What No One Is Talking About

“If a tree falls in a forest and no one is around to hear it, does it make a sound?” asked George Berkeley 1710, American philosopher.

Like the tree falling in the forest, no one hears the sound of the real revenue leakage. Revenue leakage is like an iceberg with most of the leakage below the waterline and invisible. It is turning out that traditional sales audit is identifying only a fraction of the actual revenue leakage that is taking place. This is made worse by airlines on one hand aiming at new opportunities to grow revenue, profit, and productivity. While on the other hand, they strive to differentiate their brands in the marketplace of rapidly growing LCCs. This increasing complexity has defeated many attempts at full revenue assurance. 

Traditionally, Audit has been largely manual and with some degree of automation. Rassure, being a proactive data-based audit solution for airlines has identified revenue leakage estimated at 1% – 3% of total sales volume for most passenger airlines. Even direct sales via airline websites can leak revenue through call centres! The under-collection could be  enough to turn the airline from profit-making to a loss situation in any one year. The leaks are due to a range of factors such as fraudulent ticketing activity, mismatched fare basis codes, invalid fare amounts, or errors associated with taxes, fees, surcharges, and advanced purchase or abuse of waivers. The role of Agents needs a microscopic analysis considering they are a crucial stakeholder in ticketing, revenue collection, and customer facilitation.

Our innovative, AI-based abilities tactically enable us in the detection of revenue leakage, damage assessment through implementation of smart analytics solutions. It allows an airline to take advantage of the digitisation, improve the ROI, and contribute to capacity building initiatives avoiding consuming precious time and resources in tedious Agent Debit Memos  (ADM).

Rassure is your trusted and resourceful partner to detect, reveal, and stop all types of ticket rules violations. Our comprehensive, automated, technology-driven system based on process approach identified up to ten times more revenue recovery benefits than traditional sales audit, despite doing a second pass audit. Rassure can coexist with Airline initiatives to prevent revenue leakage across the life cycle of the ticket.

Airline industrial revolution requires an advanced level, thought leadership to support the “stop leakage” initiative of Rassure. The revenue-management system for inventory approach, fancy promotions, and experience improvement methodology are not enough in a long-term profitability strategy. Our efforts today will play a key role in the evolution of air travel in the next few decades.

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How can we help your airline protect your revenue during Covid-19?

With COVID-19, airline industries are anticipating a revenue loss of $252B. Tens of thousands of airline ticket refund applications, the country-wise imposition of constantly changing measures, and airline regulatory compliance are some prominent issues that need to tackle this challenge smartly.

Current circumstances also present an unprecedented opportunity to break the patterns of “farming model” and strengthen the revenue leakage recovery by utilising the disruptive technology that has already proven its worth. Our system has already identified millions in annual revenue leakage and lost profits.

Rassure is IATA strategic partner and ATPCO Platform Partner since 2016. Being a proactive data-based audit solution for airlines, we follow an innovative path during these testing times. In the last few years, our technology experts have heavily advocated that revenue leakage today is highly unseen. It is equivalent to an undirected waiver policy. “Not detected” and “not seen” leads to lost profits that range from $20M to $60M for a $2B airline.

Rassure helps airlines to reclaim the lost efficiency by its state of the art technology.

RAX ™, our automatic solution with established credibility of detecting the revenue violations, provides an opportunity of maximum revenue recovery by processing millions of transactions every hour. Rassure, being confident in the expertise and the resources invested in the development of its latest technology, also seeks its utilisation during this dismal time.

We at Rassure offer following strategic interventions to help your airline recover and take control of your revenue during the pandemic;

  1. Audit COVID-19 Exchange & Refunds Automatically
  2. Audit frequency at your choice: Daily, Weekly, Fortnightly, Monthly
  3. Inclusion of ”performance dashboard” in the business process improvement plan
  4. Revenue leakage/violation detection system using smart analytics (RAX ™)

We help you thrive on improved earning per share, increased efficiency, least costs on ADM, and aim at building a sustainable business model in the times of crisis. Rassure enables you to avoid a sizeable profit impact by saving costs and achieving financial efficiency within the least possible time.

The prevailing uncertainty has sparked a debate over the role of leaders across the world. Emerging from this unprecedented crisis requires a new level of confidence, courage, and forward-looking attitude. Taking control of your Airline revenue is a leadership choice that eventually results in improved decisions hence achieving the organisation’s purpose optimistically. Finally Every Dollar Saved is Every Dollar Earned.

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IATA explains revenue leakage from tickets

In 2015, airlines have issued 2.3 million ADMs transactions for a value of US $ 579 million, incurring an estimated industry cost of US $ 150 million to manage the ADM process. Source: IATA https://www.iata.org/whatwedo/airline-distribution/Pages/adm.aspx extracted 17th October 2019

Rassure is now demonstrating that this is just the visible part of the iceberg. Undetected until now is leakage that could be several times this number, potentially about up to US$5B p.a. globally when direct sales is also included.

Source: https://youtu.be/xMYszGTG_8s

Rassure NSW Export Award finalist

Rassure has been selected as a finalist in the Emerging Exporter award category for the 2019 Premier’s NSW Export Awards! Born global, based in Chatswood, NSW, Rassure helps global airlines reduce the revenue leakage from ticket transactions. We are proud to contribute to the economic performance of Australia.