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 over 400 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.
In 2014, SIS had 590 participants and processed $71 billion, a 7.5% increase from 2013.