How the CFO at FlexFlight optimized their financial operations

20 Nov 2023

Explore the synergy between business aviation and finance with FlexFlight's CFO, Ole Dannemand. Gain insights into optimizing financial workflows by managing charter payments for booked flights, revealing key challenges and opportunities for CFOs in the industry.

We had an insightful conversation with Ole Dannemand, the Chief Financial Officer of FlexFlight, a prominent Danish aircraft operator. Founded in 2003 by Christian Honoré, FlexFlight is based in Roskilde, Denmark.

The situation: maintaining financial control of charter payments

As the CFO at FlexFlight, Ole Dannemand manages finances and utilizes the integrated payment solutions that Avinode offers to maintain financial control of charter payments. He grasps the unique optimization challenges companies like FlexFlight face due to limited resources. Unlike larger corporations, smaller entities must be resource-efficient and cost-effective.

Many operators in our industry can relate to the significant concern of preventing lost customer payments, especially during the peak times of the year. We rely on Paynode’s credit card hold feature to secure funds before flights.” – says Ole Dannemand.

The solution: a streamlined and automated payment process

Avinode’s integrated payment solution allows Ole to monitor transactions effectively, ensuring control over payments regardless of seasonal revenue fluctuations. This streamlined process saves time, facilitates resource allocation, and supports strategic planning.

Ensuring the safety and security of funds

To avoid late payments, FlexFlight now requires customers to deposit funds securely in advance or hold a credit card before releasing an aircraft, even if they have received proof of payment from their bank.

Ole explains, “Instant Payments have proven invaluable assets for the company. It has simplified and automated parts of our payment approval process, ensuring the safety and security of funds.

Avinode Group, Selecting Instant Payment – No Device

Reducing manual work with payment notifications

Avinode’s payment solution has significantly enhanced their ability to focus on other critical tasks, even though quantifying the precise time savings can be challenging. What stands out most is the payment notifications, which save Ole and his team significant time that would have otherwise been spent manually checking the bank for payments.

Excellent customer support

In addition to the system’s user-friendliness, Ole is particularly impressed with the outstanding customer support. Ole Dannemand highlights: “They are not only responsive but also genuinely understand the urgency of our operations. They consistently go the extra mile to ensure we have the necessary funds in time for our flights. This level of service sets Avinode Group apart from traditional banks and underscores their strong commitment to customer satisfaction.”

More about FlexFlight

FlexFlight is the industry leader specializing in Aircraft Management and offers top-tier air charter services. With the Danish Air Operator’s Certificate (AOC) in their possession, FlexFlight manages a range of business jets, from the PC-12 to the Global6000, and excels in delivering customized Management Models tailored to their client’s diverse needs and expectations.

Ready to start improving efficiency with us?

Everything our team does is geared towards fixing the finer points of business aviation for you and your customers. Utilizing Avinode, Schedaero, and Paynode for your charter operations keeps communication flowing between departments, from quoting to scheduling and collecting payment. Connect with us to learn how Avinode Group solutions can improve your operation.

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