Activity

Outpayce from Amadeus has launched a new automated reconciliation platform designed to transform airline back-office performance and safeguard billions in global payment revenues. This breakthrough solution addresses the significant challenges airlines face in managing and reconciling payments from their increasingly complex network of sales channels.
Key features and benefits of the Outpayce reconciliation platform include:
* Automated Matching and Reconciliation: The platform leverages advanced matching algorithms and comprehensive data feeds to automatically match sales data with received payments. This eliminates manual processes, significantly boosting accuracy and efficiency for finance teams.
* Real-time Visibility and Discrepancy Detection: By natively integrating with both airline sales and payment capture data, the system provides real-time synchronization, offering a single, comprehensive view of all transactions. It quickly identifies mismatches, flags potential chargebacks, and helps teams resolve discrepancies swiftly before they lead to revenue loss.
* Revenue Protection: The real-time visibility ensures that only properly paid transactions are honored, preventing revenue leakage and avoiding instances of passengers flying without completed payments. It also helps in understanding the chargeback status of each payment, allowing for fast action.
* Improved Accounting and Financial Reporting: By automating reconciliation and providing clear, reliable insights into sales against incoming payments, the platform supports improved accounting processes and enhances the quality of financial reporting. Finance teams gain greater clarity on revenue positions and can quickly explain and correct inconsistencies.
* Integration with Xchange Payments Platform (XPP): The new Reconciliation Module is part of Outpayce’s award-winning Xchange Payments Platform. This platform is already used by leading airlines to optimize their global payment flows by intelligently routing transactions to maximize acceptance rates, reduce fraud, and minimize costs. The integration further enhances the end-to-end payment optimization suite.
* Enhanced Operational Efficiency: By automating previously manual and error-prone processes, the system delivers major operational benefits to finance departments, allowing them to focus on more strategic tasks.
Outpayce co-developed this solution over several years in close collaboration with a leading network airline, and it is now being scaled across that partner’s global operations and is also available to the broader airline industry. This development is a significant step in Outpayce’s ambition to provide the industry’s most complete suite for end-to-end payment optimization, addressing complex pain points like reconciliation for global airlines.

Video courtesy of First Bank of Nigeria

Video courtesy of First Bank of Nigeria