IBS Software’s iCargo platform has overhauled Korean Air Cargo’s pricing model to improve yields and boost profitability.
The solution provides intelligent, intuitive analysis and algorithms, integrated to the sales and booking system to deliver insights into commercial operations.
This allows Korean Air to determine the selling price of capacity and ensure maximum profitability per shipment carried.
The revenue management was an extension of IBS’s iCargo cloud platform, and working in close collaboration, IBS incorporated its full data analytics and machine learning capabilities.
As part of the rollout, IBS rolled out the Sales App mobility module, designed to support sales and marketing teams with maximum conversion of opportunities by providing real-time access to customer profiles, analytics and capacity predictions.
Noh Sam Sug, head of cargo and senior vice president of Korean Air Cargo says: “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.”
Ashok Rajan, senior vice president and head of airline cargo services at IBS Software says: “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.”