Travelport Airline IT Solutions, a division of Travelport serving the IT needs of airlines and travel suppliers worldwide, announced today that Avianca, the Bogota-based Colombian flag carrier, has implemented Travelport Fare Verified™ – Travelport’s next-generation fare audit technology for the airline industry. Fare Verified will enable Avianca to identify and stop revenue loss by performing an audit on each itinerary. Travelport’s solution will verify the accuracy of fares, rules and taxes, and give Avianca the ability to intervene and correct under- or over-collection of fares.
“Avianca is developing initiatives to grow and operate more efficiently to benefit its clients. One of our priorities is to ensure rate integrity and competitiveness,” affirmed Fabio Villegas, president of the Airline. “To do so, Avianca has signed an agreement with Travelport to adopt optimum technologies to protect its revenues, thus becoming one of the most important operational strategies implemented in this field,” he concluded.
“Fare Verified takes airlines to a level of operational efficiency that cannot be achieved without a focus on revenue integrity and the technology to stop associated revenue loss,” said Sue Powers, CEO, Travelport Airline IT Solutions. “Avianca recognizes that there are many areas where revenue leakage can occur within an airline, particularly at the point of sale when the correct ticket amount is not collected. We look forward to continually providing Avianca a means to identify revenue loss throughout their operations.”
Travelport Fare Verified, an industry first solution, was developed to help airlines stem the loss of millions of dollars in annual revenues due to incorrectly priced tickets. While post-ticketing fare audit tools have been available to airlines for some time, Fare Verified is the industry’s only combined pre- and post-ticketing fare audit solution. It is Fare Verified’s sophisticated yet easy-to-use pre-ticketing audit capabilities and real-time Web-based reports that make it possible for airlines to conduct comprehensive internal fare audits, take preventive action to stop issuance of incorrectly priced tickets and ensure accurate collection of revenues due to the airline.
Fare Verified’s real-time Web reports provide information indicating where incorrect fares are being ticketed, drilling down to specific locations and agents. Reports provide immediate notification of errors and related agent behavior to help airlines distinguish pricing mistakes from improper discounts, manual data entry errors and fraudulent ticketing activity. Airlines can interrupt ticketing at the point of sale when the correct ticket amount is not being collected, and ensure accuracy of fares, rules and taxes prior to ticketing. Revenue protection through Fare
Verified also includes an airline’s ability to prevent future ticketing mistakes through timelier employee training, as well as the ability to make better business decisions by knowing the true impact of waivers and favors on an airline’s bottom line.
Travelport Fare Verified is the result of in-depth research conducted by Travelport to help airlines resolve issues associated with fare data integrity – a substantial area of revenue loss for airlines worldwide. Research revealed multiple issues faced by airlines in this area, including revenue loss from under-collection of fares on internally issued tickets, ticketing errors, ticketing fraud, and an airline’s inability to identify causes of revenue leakage due to lack of more advanced and relevant technology. Fare Verified addresses all of these issues and more, and is based on Travelport’s global fares and pricing system, recognized for its accuracy and reliability. Fare Verified can be customized to serve the unique requirements and business processes of any airline.