Tag: TEKaviation

TEKaviation Announces AviTalk, its AI Solution for the Aviation Industry Invests €1 M in AI development

TEKaviation, the dedicated aviation division of TEKenable, has announced AviTalk, its AI solution for lessors, airlines and MROs that allows users interact directly with their data.

TEKenable has invested over €1M in AI development and in the AviTalk product they have created which is a generative AI solution providing users with a ‘subject matter expert’ on their assets and contracts.

AviTalk enables users to directly interrogate their technical, legal and financial documentation to retrieve specific information, removing the requirement for storing information in an intermediary lease management system. Users from all business departments can seamlessly interact with all documented data instead of relying on traditional gate keepers of the information and legacy systems which are restricted to a predefined number of curated fields.

AviTalk improves accessibility to data, generating increased organisational efficiencies while also ensuring improved accuracy of information by accessing the source data directly and removing the potential for human error. Every additional Avitalk license provides organisations with an additional subject matter expert.

AviTalk leverages advanced AI capabilities to enhance data understanding and retrieval. By utilising both semantic search and keyword search, AviTalk can accurately identify and extract relevant information from vast datasets. This dual approach ensures that users can find the precise terms and insights they need while also having the comfort of getting citations and hyperlinks to the source document so that the information can be verified, making AviTalk a superior tool for comprehensive data intelligence.

AviTalk can read, understand and interpret text, handwritten notes and images. It is a communication platform that supports over 90 languages, enabling users to receive accurate and contextually relevant answers in their preferred language.

“Only 20% – 30% of all data is recorded in systems, the rest is locked up in documents. We developed AviTalk to enhance aviation leasing via AI”, explains Aidan Bodkin, Managing Director, TEKaviation.  “This conversational, multilingual AI solution will give users more choice and control over their businesses by improving efficiency and productivity.  It is a dedicated 24/7 subject matter expert on their data”.

AviTalk can perform complex mathematical calculations, such as interpreting formulae and determining rental fixings.  As an AI agent, it operates 24/7 with no downtime, ensuring continuous availability and reliability.  Users can ask questions directly to their documentation, bypassing the need for specialist CMS knowledge.

TEKenable has announced the promotion of Donal Martin to Head of Leasing Solutions in TEKaviation

Digital services company TEKenable has announced the promotion of Donal Martin to Head of Leasing Solutions in TEKaviation, the dedicated aviation division of TEKenable.  In his new role, Donal will drive new business growth and promote client engagement across the Aviation community.

Donal brings a wealth of experience and expertise to the role having worked within the aircraft leasing sector for the past 17 years. He will lead the continuous development of TEKaviation’s suite of Lease Management solutions and promote TEKaviation’s commitment to driving digital transformation from legacy systems to more efficient, cost effective and scalable technology.

Donal has a deep understanding of client requirements having managed several system implementation projects during the course of his career to date. He has also established the contract management function for a number of start-up lessors and lead the drafting and development of the associated processes and procedures, enabling the stable growth of those platforms.

Prior to taking up this new position, Donal was Client Director at TEKenable for two years. He is also currently a Director of China International Aviation Leasing Services (CALS) and has previously worked in Aergo Capital, Avolon and AMCK.

TEKenable Creates 20 New Jobs in TEKaviation

Irish digital services company TEKenable is creating 20 new jobs in its Aviation Division with the launch of its specialist system for aviation lessors –  TEKaviation.   The customised application is designed to enhance its existing offerings in the aviation leasing space.

The new jobs will be created over the next four years and will include sales, development, support, marketing and management roles.

TEKaviation is a specialist system for aviation lessors. It enables aviation lessors to transform their business by moving off legacy systems that stunt growth and competitiveness. The solution has been designed by experts from the leasing industry and enables users to speak the language of lessors, whether that’s transaction bibles, deal tombstones, net spread or quiet enjoyment.

“TEKaviation is the start of a business transformation specifically for aircraft lessors which will streamline the decision-making process across origination, contracts and finance, explains Padraig McCarthy, Group Commercial Officer at TEKenable.  “It’s human led, AI assisted decision-making and will evolve with business needs.”

The scalable platform seamlessly integrates with existing systems. The contracts module ensures leasing agreements are organised, accurate, and compliant with automated compliance checks and real-time updates, minimising errors and legal risks. The finance module meets global financial demands, offering statutory and management reporting for complex structures and detailed financial data down to the MSN level. It includes accounts payable, accounts receivable, cash management, fixed assets, and general ledger modules. Deal management is streamlined with TEKaviation’s deal and CRM manager, which automates tasks, enhances collaboration, and improves efficiency throughout all deal phases. It also integrates seamlessly with other modules and Microsoft Office products.

“TEKaviation allows users to gain clear visibility into their lessee’s obligations, enabling proactive management and smarter decision-making throughout each lease’s lifecycle.” concludes Padraig.