Manchester Airport save up to seven weeks of manual forecasting work prior to each annual budgeting process.
The Business Challenge
MAG required a new income, cost and capacity modelling forecasting tool on a modern supportable platform that can reduce the time it takes for the commercial team to produce financial forecasts.
We needed to replace manual spreadsheets removing associated pains of cleansing of data, adjusting complex financial formulas, human input errors, version control and reliance on a spreadsheet specialist.
We also needed to consider how our client could share rolling budget forecasts benefiting the financial planning for additional airport business areas.
Finally, it was essential to MAG that Airport Hive was able to provide richer information to business intelligence/data science teams for data analytics.
From the very beginning of the design stage of Airport Hive Forecasting, through to production and refinement, Azinq have acted and felt, like a true collaborative partner.
NICK CRESSWELL
Finance Director
Manchester Airport Group (MAG)
Airport Hive Forecasting has saved us up to seven weeks of manual forecasting work prior to each annual budgeting process.
NICK CRESSWELL
Finance Director
Manchester Airport Group (MAG)
The Results
- The foundation for financial modelling is now common across business areas
- The ability to model multiple future aviation related published charges and discounts (incentives and rebates)
- Capability to predict sales income and airport concession revenue per retail unit
- Generate rolling budget forecasts by creating multiple future schedules with accurate passenger volumes overlaid with pricing scenarios
- Confidence that commercially sensitive information is stored securely by removing the risks associated with spreadsheets such as version control and unauthorised access
Client Feedback
“From the very beginning of the design stage of Airport Hive Forecasting, through to production and refinement, Azinq have acted and felt, like a true collaborative partner.
They took the time to understand MAG in a way that other potential partners hadn’t. This was recognisable even from inception stage, where it was clear from their understanding of who we were, that the idea sharing and constructive challenging, allowed us to grow the idea organically and shape it into the tool we have today.
Airport Hive Forecasting has saved us up to seven weeks of manual forecasting work prior to each annual budgeting process. In addition to that, we now have ‘one version of the truth’ when it comes to our airline scheduling and aviation income forecasts. Automation of the process through flexible modelling rules means we trust the numbers being produced, compared to our previous excel approach which wasn’t as robust and subject to inputting or calculation error.
Airport Hive Forecasting is essential for any airport modelling income, cost and capacity as we rebuild our business, efficiently and effectively, in this post COVID-19 world”.
NICK CRESSWELL
Finance Director of Manchester Airport Group (MAG)
