AirAsia adopts Oracle to Transform Finance Operations
As an airline that operates in 25 markets across Asia, Australia, the Middle East and the US, the finance team needs to reconcile cross-currency data and transact with suppliers in different countries. Oracle ERP Cloud will help simplify, standardize and automate financial operations across the group, and free the finance teams from mundane operational tasks to focus on growing our business
AirAsia announced that it is working with Oracle to centralise and streamline its finance operations by leveraging the market-leading 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.”
“AirAsia is at the forefront of innovation. They are a leading example of how technology can optimize costs while enhancing the customer experience,” said Mark Hurd, Oracle CEO. “Oracle ERP Cloud provides a foundation for AirAsia’s continued growth and will help strengthen their leadership in the Asean travel industry.”
More than 6,000 customers across geography and industry have selected the market-leading Oracle ERP Cloud to provide a complete, innovative and secure financial platform for their organization. With Oracle ERP Cloud, organizations of all sizes can quickly and easily take advantage of the latest innovations in artificial intelligence, digital assistants, natural language processing, blockchain, and the Internet of Things to enable enhanced productivity, reduced costs and improved controls.
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 Analyse 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.
AirAsia Group CFO Pattra Boosarawongse said, “An agile finance operation is the backbone of every successful business, where financial data is readily available in real time to support critical business decisions. As an airline that operates in 25 markets across Asia, Australia, the Middle East and the US, we have a complex operation. Our finance team needs to reconcile cross-currency data and transact with suppliers in different countries. Oracle ERP Cloud will help us simplify, standardize and automate our financial operations across the group, and free our finance teams from mundane operational tasks to focus on growing our business.”
