MetraTech Corp., the innovative charging, billing, settlement and customer care product provider has recently announced that its MetraNet™ product has been deployed by the City of Chicago as the billing and partner settlement solution for the Chicago Department of Aviation. The Chicago Department of Aviation includes O’Hare Airport, one of the world’s busiest. The airport generates nearly $38 billion in annual economic activity including nearly $800 million in revenue that will be billed and settled by MetraNet. Over 76 million passengers passed through O’Hare in 2007.
The intricate operations at O’Hare Airport pose a particularly complex challenge from the perspective of billing and settlement. MetraNet’s automation of processes and financial models provided for greater accuracy and transparency to the businesses that operate within the airport system, particularly the airlines themselves.
O’Hare Airport, part of the City of Chicago, operates on a residual business model wherein airlines assume all the costs associated with operation of the airport, less the revenue generated by certain non-airline services (i.e. concessions). Invoices are generated on a monthly basis and are reconciled annually once the actual operational costs are known.
As such, the model involves complex calculations based on Airport Use Agreements and contracts. The non-airline revenue is primarily based on leases and concessions which have over 20 different business models that combine fixed rate leases with a percentage fee of retail sales. Billing calculations require dynamic charging of a diverse set of services including landing/take-off, terminal usage, enplanement/deplanement, flight support, utilities, ground handling, passenger facility charges and retail leases.
Scott Swartz, founder and chief executive officer, MetraTech Corp., said, “We are extremely proud that the City of Chicago has implemented MetraNet. They have set a new standard for operational excellence for airports.”
About MetraTech
MetraTech Corp. offers a new approach to charging, billing, settlement and customer care enabling organizations to embrace change without compromise. MetraNet, our flagship product, is unique in its ability to automate business processes and business models that address rapidly changing, complex or radical business strategies across any industry for an unlimited number of services. MetraNet is deployed globally, enabling diverse customers to build innovative and successful business models, securely collect revenue, and manage their entire customer lifecycle in some 12 languages, 26 currencies and 90 countries. MetraTech offers a variety of delivery options ranging from licensing to outsourcing. Headquartered in Boston, MetraTech has offices in San Francisco, Dusseldorf, Paris, Singapore, Rio de Janeiro and London. MetraTech is a venture-backed, privately held company whose investors include Accel Partners, Bessemer Venture Partners, Meritech Capital, and Vesbridge Partners. For more information, please visit www.metratech.com.