Simplified Invoicing and Settlement (SIS)
SIS is the industry platform that facilitates the electronic invoicing and settlement process by streamlining key processes, unifying invoicing standards, and reducing paper wastes, ultimately fostering a simpler and more efficient environment for airlines and aviation business partners –such as ground handlers, maintenance companies, and manufacturers – to engage in business
Features & Figures
- One e-invoicing standard
- Choice of file (IS-IDEC/IS-XML) or web submission
- Invoices sent automatically for settlement in ICH/ACH
- Billing/billed data automatically available for reconciliation
- Simplified dispute process
- Digital Signature and legal compliance services
- Availability of audit trail for record-keeping
Who can benefit from SIS?
Any airline or entities that engage in business with airlines can benefit from joining SIS. Using the service allows members to bill and settle with thousands of companies in the air transport industry. SIS automation and cost control can save companies up to 2% on operating expenses. E-invoicing enables suppliers to reach out to airline customers through a single platform.
Currenlty, SIS has over 620 participants who processed 1.48 million invoices for a total value of $70 billion. An additional 300 invoice receiving only participants also joined the platform in 2016.