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IBS Software launches integrated revenue management system for

Press Trust of India  |  Thiruvananthapuram 

: IBS Softwares iCargo platform has overhauled Korean Air cargo pricing model by deploying an integrated revenue management system to improve yields and boost profitability.

An industry first, the solution provides intelligent, intuitive analysis and algorithms, fully integrated to the core sales and booking system that delivers unrivalled insight into critical commercial operations allowing Korean Air to determine the selling price of capacity and ensure maximum profitability per shipment carried, a press release said.

IBS developed the revenue management solution as an extension of its iCargo cloud platform deployed earlier this year by Korean Air, one of the top cargo carriers in the world by volume, to improve operational efficiency.

Working in close collaboration with Korean Air to define its needs for this highly complex and business-critical function, IBS incorporated its full data analytics and machine learning capabilities to develop the solution.

IBS also rolled out the new Sales App mobility module, designed to support sales and marketing teams with maximum conversion of opportunities by providing real time access to customer profiles, customer analytics and capacity predictions to support Korean Air cargo operations.

In addition, several new automation tools were also introduced for terminal operations at Incheon Airport, the hub of Korean Air cargo operations.

NOH SAM SUG, Head of Cargo & Senior Vice President, Korean Air cargo said the new solution would help Korean Air to better match the cargo supply and demand while improving profitablity.

Ashok Rajan, SVP & Head of Airline Cargo Services, IBS Software said it was proud to be associated with an industry stalwart like Korean Air.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 06 2019. 18:40 IST