Revenue Management
Airlines face an enormously complex problem of capturing the greatest revenue yield from every flight departure, not selling too many seats at a low price and turning away higher priced demand and not offering a too-high price that results in lost demand and too many empty seats.
Our Revenue Management System, based on decades of experience in the travel industry, helps our clients:
- Forecast better - the demand, cancellations, no-shows for each market segment, customer's price sensitivity
- Allocate inventory so they do not turn away the most valuable customers or fly with empty seats when demand exists for them
- Enables them to react quickly to competitive changes in the marketplace
- Embed complex business rules and strategies within a forecasting and optimization framework
- Manage overbooking of inventory to balance risks of displacing passengers against the risks of flying with empty seats
- Monitor the overall revenue performance of the controls in order
Features
- Login: RMS User/Admin will log into the RMs by the login name and password provided.
- Fare Pool Template List & Search: RMS user will search for predefined fare pool templates for attaching a template with flight in 'Defining and maintaining fare pool' interface
- Create Fare Pool Template: RMS user will create fare pool template to later attach it to specific flights.
- Flight Search: RMS user will search for specific flight for attaching the fare pool template. The flights matching the search criteria will be displayed in a list for selection.
- Fare Pool Detail: RMS user will be able to view the details of a defined fare pool for a flight along with the current booking status of each bucket for ach day of validity of the fare pool for the particular flight.
- Fare Pool Definition and Maintenance: RMS User will be able to define the fare pool for a flight. The fare pool will consist of the buckets, booking rules for the buckets (for example, days before departure when the bucket opens and closes for booking), and the fares associated with each bucket. The expected revenue based on the fare pool will be calculable for better decision-making.
- Fare Pool Modification: RMS user will be able to modify the already existing fare pool.
- Fare Pool Approval: the RMS Admin will approve Fare pool. The defined/modified fare pool will not be used until it has been approved.
- User Management: RMS Admin will create/modify RMS Users and grant roles to them.
- Role Creation: RMS Admin will create roles for the RMS.
- Role-Rights Mapping: RMS Admin will define the functional rights in RMS available to a role.
- Login Support: Support for retrieval of forgotten password and the ability for users to change their passwords
- Fare Set-up: The Administrator will set up associated fares for all sectors / flights already defined. These fares will be dependent upon parameters such as 'Valid From' and 'To Date'. The administrator will be able to revise these fares as per policies of Airlines. The airline can define different rules like on the basis of Seasonality, Blackout period, Valid flights, Weekdays and POS