Sunday, April 14, 2024

AirAsia takes flight with Oracle to transform finance operations

AirAsia has announced that it is working with Oracle to centralize and streamline its finance operations by leveraging the Oracle Enterprise Resource Planning (ERP) Cloud.

The deployment supports AirAsia?s growth plans and its vision to be the leading travel technology company in Asia.

AirAsia Group CEO Tony Fernandes said, ?AirAsia has championed Asean connectivity since its inception in 2001. Over the past 18 years, we?ve proudly grown our network and launched new routes across Asia Pacific as we delivered on our promise to our guests. We are now writing the next chapter of our story, riding on our momentum as a business and a brand to transform AirAsia into more than just an airline.

?We are going to be the travel technology company for the region, and as part of this journey, we?ve set our sights on becoming an intelligent, connected enterprise,? Fernandes added.

Mark Hurd, Oracle CEO, said Oracle ERP Cloud provides a foundation for AirAsia?s continued growth and will help strengthen its leadership in the Asean travel industry.

Among the new functionalities that the Oracle ERP Cloud will bring to AirAsia are:

Industry Aligned Chart of Accounts and Enterprise Structure Modelling: Oracle ERP Cloud connects AirAsia?s distinct lines of business to enable smoother operations and improve decision making. The cloud solution delivers modern best practices, while the implementation partner TransSys helps standardize the business processes across finance and procurement functions.

Revenue Accounting and Operational Systems Integration: Oracle ERP Cloud is integrated with AirAsia?s existing business systems and to help provide AirAsia with a single source of truth across financial and procurement functions.

Direct Operating Cost Controls: Oracle Enterprise Performance Management (EPM) Cloud will help AirAsia manage and improve global account reconciliation. With Oracle EPM Cloud, AirAsia will be able to define, author, review, and publish financial, management, and regulatory reports.

Robust Data Models to Compute and Analyze Route Contribution and Profitability: Oracle ERP Cloud and Oracle EPM Cloud will facilitate core business analysis and reporting to help AirAsia improve decision making and drive growth.


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