James’ role as a Revenue Analyst (Finance Programme) – Overview

My first placement on the Finance Graduate Scheme involves working as a revenue analyst in the Revenue accounting team. My role within this team can be broadly split into two main parts. The first involves my day to day role where I help reconcile variances between our two systems; Rapid, our booking system, used by shops to book holidays for customers and Tracs, our inventory system, which tells us which holidays have been booked. These variances can arise for many different reasons, including both human and system errors. It is my job to identify variances, relay these issues to shops and work with them to help resolve the errors behind these variances. This requires a great deal of interaction with the shops from all areas of the country.

This role also coordinates with the Financial Control Team in Coventry as each week I collate data produced by them and create a performance report for a weekly conference call, giving an overview of our current position outlining any issues we currently have, how many variances are still to clear and key areas to work on. Attending this call will be teams from different business areas, including Programme change, Web, Shops and Tour Operators and Falcon (our Irish division). This helps ensure good communication between the teams and issues are monitored.

The Revenue accounting team.
The Revenue accounting team.

This part of my role has given me great knowledge of the company’s systems and has led to me being seconded onto a six week project to help with the integration of @Com Reservation, our new booking system, introduced as part of Project Phoenix, a vast IT project that has seen an overhaul in the systems we use and the way the business is run. Here I will use my knowledge of our old systems to help reconcile variances between them and our new system to ensure bookings are being accounted for correctly in line with our old systems.

The second part of my role is completely different and involves using accountancy techniques I have learnt during my CIMA studies. This role is performed on the first four days of each month and is a summary of our financial position from the previous month. This is an intense period as people work extremely hard to complete their reports and post journals with the amount to be accounted for before the 4pm deadline on the fourth day of the month when the ledger closes and results are reported to the Board of Directors within the TUI Group. My responsibilities in this period involve creating and preparing our Outstanding Creditor report and Under and Over collected report, which show the revenue collected within the month and revenue still to receive. These reports involve significant numbers, with some figures extending into the billions meaning the smallest mistake could have major repercussions! Thankfully stringent controls are in place so if a mistake is made an approval system means the work is thoroughly checked further up the chain of command before being posted and reported to the Board of Directors and shareholders.

To conclude, I feel I have learnt a great deal in my short time at TUI and am excited about what the future holds in terms of the opportunities and experiences I have yet to explore. I have only just been seconded to my six week placement, so am fully committed to this project in trying to help my team integrate the new system into the business and try and add value where I can to the processes that have been put in place. There is still a lot to do, but it won’t be long before I am moving on to my next placement in September to start the learning process all over again.

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