SKY reduces monthly close times by 40% with Oracle Cloud ERP
With Oracle Fusion Cloud ERP, airline obtains integrated and robust information in less time, which enables the carrier to make decisions faster.
“The Oracle solution, both with the financial core and with all the additional systems and modules that we use, provides us with this comprehensive solution. On the one hand, it brought efficiency, and on the other hand, it gave integrity and consistency to the information.”
Business challenges
SKY began operation in 2001 as a traditional airline in Chile and Peru. In 2015, the airline redirected its business model toward becoming a low-cost carrier. By 2018 the company completed this strategic transformation, and is now the second-largest airline in Chile and Peru. By significantly reducing ticket prices in Chile, the company accomplished its mission to boost air travel by delivering good service at affordable prices.
While SKY’s business model evolved over the years, the company still used an enterprise resource planning (ERP) system that was not world-class and had significant limitations. The technology was based on hosted, on-premises servers that did not provide great security or data integration, and relied on manual and inefficient processes. The company decided it needed a core system that would provide reliable and scalable financial system support as the business grew.
Oracle, as a strategic supplier that delivers our ERP platform, is a cornerstone of SKY’s entire strategy.
Why SKY chose Oracle
After evaluating options, SKY turned to Oracle Fusion Cloud ERP. SKY made its decision based on the knowledge that Oracle offers a comprehensive solution that would provide secure, consistent, and reliable data to efficiently run the business. Oracle Cloud ERP was also the best fit for the organization's specific requirements.
Results
Using Oracle Fusion Cloud ERP for its accounting process, SKY has been able to reduce monthly closing times by at least 40%, consolidate results and reporting in less time, and make decisions more quickly. The bank reconciliation process, which had previous problems with accuracy, now has a match rate of more than 80%.
With Oracle Cloud ERP in place, SKY has become an increasingly cloud-native company, one that can integrate information between various systems without slowing down performance. The team has met the goal of providing scalability and business growth, including opening an additional airline in Peru. In terms of managing data, the company feels it can deliver integrated, secure, and traceable accounting information in less time than using its previous ERP system. This has improved communication among the different teams and business areas.
The company has adopted best practices for critical processes that are built into Oracle Cloud ERP, such as in accounting, finance, purchasing, and other areas. Using Oracle’s application has strengthened information quality and management.
Finally, during the pandemic, having a cloud-based solution allowed SKY employees to work from home or in flex mode in several core and technical areas, such as finance and accounting, without hurting performance, information quality, or delivery times.