REVENUE ACCOUNTING CONSULTANT

November 6, 2024
On-site
Application ends: November 15, 2024
Apply Now
Deadline date:
November 15, 2024

Job Description

  1. Background

Uganda Airlines, the national carrier, operates as a traditional legacy airline and is dedicated to operational excellence and financial integrity. The airline has implemented the Amadeus Revenue Accounting system to manage its complex revenue accounting needs. The complexity of airline revenue accounting, driven by dynamic pricing models, ancillary revenues, and varied ticketing policies, requires specialized expertise. Uganda Airlines recognizes the need for expert guidance to build a robust Passenger Revenue Accounting (PRA) function that aligns with global standards and leverages technology for optimal revenue management. This focus aims to enhance revenue accounting processes to support growth and efficiency.

  1. Objectives of the Consultancy

The primary objectives are to:

  • Perform a full assessment of current PRA processes within the first three months and implement at least three industry-standard improvements to enhance accuracy and efficiency by the end of the consultancy term.
  • Deliver a comprehensive training program and transfer knowledge on critical revenue accounting areas, with a target of having 100% of the PRA team proficient in key processes within six months.
  • Implement auditing controls and system optimizations to decrease identified revenue leakage by 20% within the first six months of consultancy.
  • Ensure full compliance with IATA and IFRS standards within three months and establish documented procedures to support continuous improvement and regulatory adherence for future operations.

    4.Scope of Work

The consultant will be expected to deliver on the following

#Area of focusDetail
4.1Comprehensive PRA Assessment

 

  • Conduct a detailed assessment of existing the Amadeus Revenue Accounting system and processes.
  • Benchmark against industry best practices to identify gaps and opportunities.
4.2Customized Training & Capacity Building

 

  • Provide practical, hands-on session to build competency in managing critical PRA processes such as handling of sales data, maintenance of fares, taxes and agents commission, proration (MPA/SPA), refunds processing, refunds application handling on BSP link, handling of EMD, auditing of fares, commissions and taxes, unreported sales, creation of ADM/ACM and upload to BSP/ARC, ADM/ACM Administration, flown data processing, SPA Management, PRL and uplift data reconciliation, EMD uplift processing, Sales and flown data reconciliation and balance of differences, interline billing, fare management, and reconciliations.
4.3Revenue Leakage Minimization:

 

  • Implement robust auditing processes to identify and mitigate revenue leakage sources, such as uncollected cancellation fees, fare discrepancies, and tax settlements.
  • Develop automated checks and balances to prevent common errors and fraud in ticketing and revenue recording.

 

4.4System Integration & Optimization:

 

  • Support the integration and optimization of existing revenue accounting systems, ensuring seamless data flow between GDS, reservation systems, and PRA platforms.
  • Recommend enhancements to support real-time revenue recognition, enabling faster and more accurate financial reporting.
4.5Compliance & Regulatory Alignment:

 

  • Ensure all PRA processes comply with IATA, IFRS, and local regulations.
  • Develop and document standard operating procedures (SOPs) to guide PRA activities.
4.6Mentorship and support:

 

  • Provide ongoing mentorship and support to ensure the sustainability of improvements.
  • Conduct periodic reviews and evaluations to measure the impact of the training and process changes.
4.7Revenue Accounting Support & System Integration

 

  • Offer guidance on optimizing the existing Amadeus Revenue Accounting system and integrating new features to enhance efficiency and accuracy.
  • Assist in the configuration and use of systems for better data management and reporting.
  • Automation Solutions: Support the integration of automated revenue accounting systems to streamline processes, improve efficiency, and reduce manual errors.
  • Interfacing with GDS/Reservation Systems: Ensure seamless integration between Global Distribution Systems (GDS), reservation platforms, and revenue accounting system for accurate data flow.
4.8Interline Revenue Management:

 

  • Train PRA staff on handling interline billing, managing prorate agreements, and settlements through IATA’s Clearing House and BSP (Billing and Settlement Plan).
  • Establish robust procedures for effective interline revenue management.
4.9Revenue Assurance & Audit:

 

  • Implement procedures to ensure data integrity and prevent revenue leakage.
  • Train the team in conducting regular audits and establishing controls to recover missed revenues.
  • Hand hold the Revenue Accounting team and optimize the Amadeus Sales Audit tool

 

4.10Revenue Integrity & Assurance Services:
  • Fare Auditing: Ensure that all tickets and fares processed comply with published or agreed rates, preventing revenue leakage from incorrect fares or tax calculations.
  • Revenue Integrity: Implement systems to verify the integrity of revenue data, identifying potential errors or missed revenues early in the billing cycle.
4.11Revenue Optimization through Analytics:
  • Data-Driven Insights: Incorporate advanced analytics into revenue accounting processes, allowing the airline to make informed decisions on pricing strategies, sales performance, and route profitability.
  • Real-Time Reporting: Develop real-time financial reporting systems to monitor key revenue metrics, offering immediate insight into performance against financial targets.
4.12Revenue Recognition & IFRS Compliance:
  • Accounting Compliance: Train staff on international financial reporting standards (IFRS) relevant to revenue recognition, ensuring compliance with global accounting rules.
  • Deferred Revenue Management: Establish practices for managing and recognizing deferred revenue from unflown tickets or advanced bookings.
4.13Dispute Management & Interline Accounting:
  • Dispute Resolution Process: Implement procedures to handle and resolve disputes with partner airlines regarding interline billing, ensuring timely settlement.
  • Interline Billing Automation: Train staff on automating interline billing processes using IATA’s systems, ensuring accurate and efficient financial settlements with partners.
4.14Advanced Financial Reconciliation:
  • Automated Reconciliation: Implement automated reconciliation tools to compare sales, revenue, and cash flow data across multiple systems, ensuring consistency and identifying discrepancies.
  • Payment Reconciliation: Ensure the accurate recording of payments received through various channels like online bookings, agency sales, and credit card transactions
4.15Knowledge Transfer & Documentation:
  • Develop comprehensive documentation, including Standard Operating Procedures (SOPs) and training manuals.
  • Provide ongoing mentorship to ensure smooth transition and sustainability.

 

Consultant Qualifications

The ideal consultant should posses

  • Extensive Experience in Airline Revenue Accounting: Demonstrated expertise in managing the airline revenue accounting function, including the ability to assess, optimize, and enhance critical PRA processesu regulations, including interline billing, revenue recognition, and compliance with international standards such as IFRS. Familiarity with the latest trends and best practices in airline revenue management systems is crucial.
  • In-depth Knowledge of IATA Regulations and Revenue Management Systems: A deep understanding of IATA regulations, including interline billing, revenue recognition, and compliance with international standards such as IFRS. Familiarity with the latest trends and best practices in airline revenue management systems is crucial.
  • Experience with Amadeus Revenue Accounting (Added Advantage): Experience in utilizing and optimizing the Amadeus Revenue Accounting system will be a significant advantage. The consultant should be able to assess its current implementation, provide recommendations for improvement, and support integration with other systems.
  • Proven Track Record in Revenue Assurance and Audit Procedures: The consultant must have a successful history of implementing robust revenue assurance frameworks and audit controls, designed to minimize revenue leakage and ensure data integrity within the PRA function.
  • Strong Communication and Training Skills: Excellent communication skills, with the ability to convey complex processes and systems to diverse teams. The consultant should also have a proven ability to mentor and train PRA staff, ensuring sustainable improvements and knowledge transfer.
  1. Proposal Submission Requirements

Interested consultants should submit a proposal including:

  1. Technical Proposal:
  • Methodology and approach for delivering the services outlined in the scope of work.
  • Detailed work plan with timelines and deliverables.
  • Consultant’s profile, highlighting relevant experience and qualifications.
  • References from similar past engagements.
    1. Financial Proposal:
  • Detailed cost breakdown, including professional fees, travel expenses, and other costs.
  • Payment terms and conditions.
  1. Evaluation Criteria

Proposals will be evaluated based on the following:

  • Relevance and quality of the proposed methodology and work plan.
  • Consultant’s expertise and experience in airline revenue accounting.
  • Cost-effectiveness of the financial proposal.
  • References and past performance on similar projects.
  1. Contract term:

One (1) year renewable

CLICK HERE TO APPLY

Share

Discover more from JobClinic

Subscribe to get the latest posts sent to your email.

Related Jobs