Aviation companies have recently begun adopting a wide range of new innovations for their aviation management and day operations. These innovations have to lead to picking up trends such as the adoption of data analysis, the Internet of Things, and automation. These trends have provided a source for aviation operations to enhance and work in a more efficient manner. These rising trends in the aviation industry can allow aircraft operations to benefit from ERP systems that will have the capacity to integrate real-time analytics and tools to manage different factors of aviation operations. The ERP system will act as mission control for business workflows such as sales, finance, inventory, and more.

Data Analytics

Data analytics provides an aviation operation with insights that are generated daily, where airlines, airports, and other stakeholders can make improvements and decisions based on the data. These days there is an absence of standardization in an analytics platform. There are also issues in regards to scaling and combining data sources. A method that some operations have implemented is using their own isolated solutions which fails to look at the whole picture. There is a steady demand in having accurate and timely data for decisions that will enhance operations efficiency. Innovative ERP solutions such as NetSuite where delivery methods are seen through cloud computing. More aviation companies are switching to cloud-based systems vs on-site ERP. In addition, NetSuite can also provide customizations to products depending on the organization’s needs.   

Internet of Things

The internet of things (IoT) involves a system of computer devices such as computers, laptops, smartphones, etc., that transfer data over a network. In a business sense, it supports smarter work processes with more control. IoT supports process automation, analysis and insights, and labor production, performance monitoring. Airlines use these processes often for real-time data reporting on engine status, or equipment conditions. The airline aviation industry is becoming more and more reliant on such systems in which ERP’s such as NetSuite can support.

Automation

Automation with aircraft management consists of communication features, automated reporting, and the reduction of repeating tasks. When it comes to maintenance specifically, providers are trying to focus on the digitalization of software in order to facilitate tasks and improve productivity. Automated processes can include the creation of financial reports, purchase order automation, expense management, and more. Automated processes can aid in an increase of insights that can be provided to business leaders and minimize inefficiencies, errors, and compliance within their organization. 

NetSuite ERP for the Aviation Industry 

NetSuite ERP helps aviation companies integrate different departments of their operations, such as manufacturing management, human capital management, production, data interchange, management, and the entire supply chain. Whether you are a cargo plane managing inventory, an airline, or aviation manufacturing. 

Features for the Aviation industry

  • Reporting & Analytics

NetSuite’s analytics and reporting functionalities ensure real-time reporting, searches, key performance indicators(KPIs), and dashboards that allow businesses to take actionable steps towards making strategic decisions and planning for the future.

  • Accounting & Financials 

Accounting is a crucial part of all businesses. With NetSuite, you are able to have accounting processes along with capabilities that can easily perform finance and accounting functions with strong compliance in their practice. This will increase business performance and ensure accuracy, in turn, reducing back-office costs. 

Real-time financial reporting is another added benefit with NetSuite, features such as revenue recognition to help companies to stick to compliant measures, with complex contracts.

The accounting tasks that can be managed through NetSuite include, general ledger, cash management, AR/AP, tax management, fixed assets management, and more!

  • Fixed Asset Management

As mentioned fixed asset management is a component of accounting and finances, where with NetSuite’s support you can be aware of company-owned assets and leased assets along with depreciation costs and amortization schedules. In detailed asset reporting and seamless integration with the core accounting principles. 

  • Resource management

Coordinate with resource management tools when crew rostering, scheduling, and assignment to duties and flights. This function can allow for better monitoring of flight duty times and flight time limitation control. Manage HR aspects such as crew salary, bonuses, additional expenses, documents, training, and vacations management all on a centralized workflow.

  • Inventory & Fleet management

The aviation industry needs large capital to operate, that is why inventory management is one of the most crucial business functions. The goal is to reduce the amount of capital that can get tied up such as in excess inventory or when aircraft are due for maintenance. 

In terms of inventory carried, NetSuite can track when items are received, held, sold, and in the case when aircraft are out for repairs. Keeping track of these situations allows for better real-time decision-making and coordination of inventory and fleets. 

Fleet management also takes care of managing and coordinating aircraft types with databases that describe technical details, maintenance schedule, MEL (minimum equipment list), resource tracking,

These trends that are being adopted within the airline industry set the tone for what an ERP system for the industry requires to hit all the pain points. NetSuite ERP allows aviation leaders to gain complete insight and control of their operations. NetSuite can support the day-to-day processes that will create a seamless work operation, in an industry that needs much support.

About ERP Buddies Inc.

ERP Buddies is a North American Official Oracle NetSuite Solution Providers with diverse experience in implementing NetSuite ERP for many companies.

With offices in the U.S, Canada, UK, Spain, India, and the Philippines, our experts are accessible globally and make it their priority to create a smooth and positive experience for clients. Our experts assist clients throughout the entire implementation process, with on-site support and consultation, along with additional assistance in customizing your system to guarantee it meets your business needs.

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