Financial software group MySky has teamed with digital contract specialist Tuvoli to support quote generation and payments for charter flight bookings. The companies have agreed to integrate the MySky Quote platform with Tuvoli’s digital checkout function.
MySky Quote is intended to provide precise flight cost and margin calculations for operators, as well as to generate DocuSign contracts with integrated credit card processing for mobile devices. The synchronization between Tuvoli and MySky means that flight booking data is constantly updated in the Quote dashboard.
According to Tuvoli, if all parties in a charter transaction use both platforms, payments are instant and available around the clock. Requests for quotes (RFQs) arrive in the MySky Quote, allowing aircraft operators to generate either an autonomous or semi-autonomous response, which the company says enhances their ability to quote for trips quickly and accurately.
“Many operators struggle to respond efficiently to RFQs, with their only option typically [being] to hire more people or outsource the process—neither of which is cost-efficient in the medium- to long-term,” said Jean de Looz, head of Americas at MySky. “The combination of MySky Quote and Tuvoli checkout solves this issue by delivering a complete and seamless solution to our growing U.S. customer base.”
Easing U.S. Tax Headaches
Last week, MySky introduced a new system to help business aviation companies manage tax data. The company launched its MySky Tax software in the wake of last month’s decision by the U.S. Internal Revenue Service (IRS) to step up audits of business aircraft owners and operators.
The new MySky Tax systems include templates detailing the FAA’s timeshare billing, Federal excise tax, and 280F reporting requirements. The company said it will help flight departments remain fully compliant with tax reporting responsibilities without relying on manual data entry.
“For too long, private flight departments have relied on outdated spreadsheets to manage their tax records, which has meant a time-consuming and error-prone process,” said Ryan DeMoor, MySky’s head of aviation tax and chair of the NBAA’s tax committee. “The IRS, accentuated also last week by President Biden, has announced an increased focus on business aviation. At a time when there can be no room for error, MySky Tax provides the most advanced corporate aviation tax software on the market.”
The new system can be incorporated into customers’ existing flight operations software. According to the company, this enables it to use aircraft operating data, along with processed expense data from MySky Spend to generate seamless reporting. It is also expected to help companies maximize bonus depreciation on their aircraft assets.