IBS Software’s 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.
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.
As part of this phase of this rollout, 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.
With the introduction of the integrated revenue management module into the iCargo solution, IBS has brought to the market a fully integrated package of all business functional capabilities that are essential for the successful management of air cargo businesses for airlines and ground handlers of all sizes 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 of IBS’ iCargo Revenue Management solution at Korean Air Cargo. I also take this opportunity to thank the teams from IBS and Korean Air who worked together to develop the integrated revenue management solution that will help Korean Air to better match the cargo supply and demand while improving profitability. Korean Air looks forward to partner with IBS Software in future opportunities related to cargo and other core airline business systems as well”.
“At IBS we’re thrilled to have such a progressive partner in Korean Air, a dominant player in the air cargo industry who is leaving no stone unturned in their quest to modernise their operations to boost profitability and deliver exceptional customer service,” said Ashok Rajan, SVP & Head of Airline Cargo Services, IBS Software.
“The addition of revenue management to the iCargo platform is an exciting new development in our mission to support airlines all over the world generate maximum value from their operations and gain a competitive edge. We are proud to be associated with an industry stalwart like Korean Air in this journey.”