IBS expands iCargo software with revenue management for Korean Air

November 12, 2019: Kerala-based IBS Software has incorporated a new revenue management solution into its iCargo cloud platform that manages the cargo movement of Korean Air, one of the top cargo carriers in the world by volume.

The solution transforms the cargo pricing model with intelligent analysis and intuitive algorithms to boost the profitability of the airline. Integrated to the sales and booking system, the platform delivers insight into critical commercial operation, this helps Korean Air to determine the selling price of capacity and ensure maximum profitability per shipment.

The revenue management solution is an extension of its iCargo cloud platform installed earlier this year by Korean Air to upgrade efficiency in operations . IBS has incorporated its data analytics and machine learning capabilities to develop the solution.

IBS Software’s iCargo platform has overhauled @KoreanAir_KE Cargo pricing model by deploying an industry-first integrated Revenue Management system, to improve yields and boost profitability. More https://t.co/I9hkpjESJD #cargorevenuemanagement #digitalcargo pic.twitter.com/4ykyGX2vD5

— IBS Software (@ibscorporate) November 6, 2019

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”.

“The addition of revenue management to the iCargo platform is an exciting new development in our mission to support airlines all over the world generates maximum value from their operations and gains a competitive edge. 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, Airline Cargo Services, IBS Software.

From left to right: Ashok Rajan, SVP and head, Cargo & Logistics Solutions, IBS Software; V K Mathews, executive chairman, IBS Group; Noh Sam Sug, head of Cargo & SVP, Korean Air cargo and Anand Krishnan, CEO, IBS Software

Sales app mobility module
IBS also rolled out the new sales app mobility module, built to help sales and marketing teams with the maximum opportunities by providing real-time access to customer profiles, analytics and capacity forecast to assist Korean Air cargo services. In addition, many new automation tools were also included for terminal operations at Incheon Airport, the hub of Korean Air cargo operations.

Integrated package for air cargo
With the opening of the new revenue management platform into the iCargo solution, IBS has brought an integrated package of all functional capabilities that are essential for the management of air cargo businesses for airlines: sales, operations, revenue accounting, mail handling, mail revenue accounting and cargo revenue accounting.

IBS
IBS software offer solutions that manage operations in the Aviation, Tour & Cruise and Hospitality segments. IBSs’ solutions for the Aviation industry cover fleet and crew operations, aircraft maintenance, passenger services, loyalty programs, staff travel & air-cargo management.