For accounts payable teams, the airline industry is one of the most complex. It is a consequence of the highly international operations of most airline companies.
Domestic and international flights, airport charges, ground handling from a multitude of suppliers, and an ever-changing taxation landscape create unfortunate room for deviations and errors. Even with world-class processes in place.
Value-added taxes are without doubt the most common pitfall. With thousand of transactions, often from all over the world, the risk of capital loss is extensive if VAT isn't managed properly.
From experience of transaction analysis projects for some of Europe's largest airliners, Qvalia has developed a framework to identify and recover capital in the most complex A/P environments. Here are the most common risk areas:
- Double payments
- Statement of accounts
Interested in learning more about how a transaction analysis can improve your bottom line? Contact us today.