WinAir Offers Way to Manage Variable Currencies with Part Sales

With Part Sales for WinAir Version 7, the company says businesses can avoid miscalculations, time-consuming revisions, poor relationships with clients, invoices that are drastically different than initial quotes or even financial burdens if your company absorbs the costs of errors in calculations.

WinAir says these scenarios can be reduced with automated processes that will ensure precision quotes. Since WinAir’s Part Sales works together with its Inventory, Maintenance, and Accounting products, handling aircraft part sales can be accomplished in one solution. Also, with WinAir’s built-in quote approval process, businesses can rest easy knowing that an additional mechanism for oversight is in place so that quotes are accurate before submitting to the client.

WinAir says there are six operational advantages of managing variable currencies in Part Sales:

Automated Processes – Automated processes remove the need for manually amending exchange rates and save businesses valuable time. They also safeguard against errors when preparing sales quotes and streamline the sales workflow. With these time-savings,

No More Sticker Shock – Exchange rates are locked down when producing a client quote. WinAir says their process safeguards against the introduction of inaccurate information into the sales quote and ensures that there are no surprises when the client receives the invoice. It also relieves businesses from having to continue to adjust exchange rates based upon market fluctuations.

Operational Transparency, Flexibility, and Versatility – Part Sales allows users to ascertain the value of parts when listed in a client’s currency. With the pricing calculator, the system price is instantly and automatically displayed alongside the client price when these values are in different currencies says the company. This side-by-side view of pricing helps users tunderstand the financial worth of a particular part when listed in an unfamiliar client’s currency.

Instant Access to Historical Pricing Information – WinAir’s Part Sales provides users with instant access to all historical pricing information on parts and previous transactions. Historical pricing information also affords aviation operations and MROs the ability to track and manage pricing structures based on client relationships. These relationships may include offering discounted pricing that is significantly different from your standard rates, such as an AOG rate, a family rate, or a volume-based rate.

Ability to Define as Many Currencies as Required – WinAir says there is no limit to the number of currencies utilized in the system. Users can define as many currencies as required during the initial software set-up, and then add each currency as needed. They can also establish a default currency and designate currencies per country. When a new currency is added to the software, users can set the buy and sell rates for it against the system default currency to ensure that the proper price is applied for international purchases or invoicing. While users can change these rates at any time, any amendments will not affect sent POs or invoices.

Ease of Use – All processes, including calculations for markups, add-ons, and exchange rates, are automated. There is no need to access external programs to make calculations, review previous pricing information, or to manage exchange rates, as all of these tasks can be handled with ease in the software.

To further improve ease of use within the software, WinAir’s Part Sales uses system alerts and notifications to inform staff with quote approval authorization that a draft of a quote is ready for their review. During this built-in quote approval process, team members with the appropriate permissions can either approve the quote for submission to the client or decline it and append a mandatory comment to inform the quote draft author of the required revisions. In the case of the latter, the draft author will also receive a notification to inform them that there are underlying changes that must be made to this quote in order for it to be approved.   

Once it is updated, the quote can be resubmitted using the same quote approval process. This workflow keeps both the draft author and approver informed throughout the course of building, submitting, and approving the quote. It also ensures that each quote is always accurate before sending it to the client.

By providing a straightforward approach for managing variable currencies, WinAir’s Part Sales simplifies the entire process for generating quotes for part sales in a client currency. Instead of using numerous systems and tools to manage exchange rates, multiple currencies, and markups, Part Sales users can take care of all of these items efficiently and effectively in WinAir. This ability to manage all aspects of part sales in one aviation management software solution saves aviation operations and MROs significant time, alleviates staff of a variety of administrative duties, and improves the overall part sales workflow.