PROS Real Time Dynamic Pricing

Transcription

1 SOLUTION BRIEF PROS Real Time Dynamic Pricing Confidently offer accurate, real-time availability across all channels with in-sync rules, fares and data. Powering Modern Commerce with Dynamic Pricing Science

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3 Power Airline Modern Commerce As the way consumers shop for travel continues to transform and the volume of searches continues to increase, airlines are looking for new ways to manage their pricing and availability. Two-thirds of leisure travelers say they double-check prices on a desktop after shopping on a mobile device to make sure they are finding the best price or offer 1. And, travelers, on average, visit up to 38 sites before booking a vacation, contributing to the prolific shopping rates airlines are seeing today 2. Seeing these trends, airlines are realizing they need to shift to a modern commerce strategy to meet growing traveler demands. Why? Without the support of an advanced and scalable solution, your ability to meet high transaction volumes, push consistent offers, and control costs can be significantly hindered. ¹ Think With Google- Travel Booking Trends, Expedia Media Solutions, Insights into the Booking Decisions of American, British and Canadian Travelers SOLUTION BRIEF PROS REAL-TIME DYNAMIC PRICING SOLUTION BRIEF PROS REAL-TIME DYNAMIC PRICING 3 3

4 Greater Control, Greater Flexibility Airlines need to maximize revenue across all channels and ensure consistent and accurate pricing for a myriad of modern shopping requests. In order to do so, they need to deliver accurate availability in real time and at a low cost. With PROS Real Time Dynamic Pricing (RTDP), airlines can dynamically control class availability and pricing while protecting revenue against inventory spoilage. RTDP enables airlines to increase conversion rates and reduce revenue leaks with real time availability and pricing by evaluating each passenger request to determine the optimal price. Key Features RTDP Advantage RTDP Ultimate Multiple Satellites Married Segment Control (MSC)/Journey Data (JD) Basic Strategies (No routing/ No multi-level) BLOB/Revenue Protection Basic Analytics Interline Bid Price/Partnership City Pair Requests Advanced Strategies with hierarchical levels Availability Simulation Dynamic Pricing Real-Time Market Analytics Real-Time Partner Availability** Add-on Add-on CASE STUDY: A major international airline that flies to more than 155 destinations in more than 80 countries. Challenges: Dependent on legacy systems, the airline was struggling to cope with millions of availability requests. This resulted in lost revenue and inefficiencies across the airline's channels. Solution: RM Advantage Results: With PROS, the airline saw a 100% increase in availability requests and close to 0% rejected traffic. Response time dropped to ms from 50 ms. The airline anticipated savings of millions (USD) in operating costs with scalable solution to handle the future growth in traffic. 4 SOLUTION BRIEF PROS REAL-TIME DYNAMIC PRICING

5 Control availability and influence pricing across channels Produce cost-effective real time availability evaluations SOLUTION BRIEF PROS REAL-TIME DYNAMIC PRICING 5

6 Flexibility powered by comprehensive capabilities Depending on your airline's business needs and strategy, PROS RTDP editions deliver multiple SaaS-enabled capabilities for a wide variety of availability strategies, interline bid price sharing, and dynamic pricing. PROS currently offers RTDP Advantage and RTDP Ultimate to maximize revenue opportunities by presenting offers across channels that are based in data science and offer an airline pricing control and flexiblity. Key Features Multiple Deployments Married Segment Control (MSC) Basic Strategies Evaluation & Revenue Integrity Reports for Revenue Protection Basic Analytics Interline Bid Price/Partnership City Pair Requests Advanced Strategies Definitions Deploy RTDP in multiple data centers. Our data synchronization capabilities facilitate keeping fares, bid prices and reference data in sync across different instances. Use journey data to protect revenue from agency/customer cheating by enforcing that passengers book the itineraries as they were initially evaluated. Market- level rules allow tailoring MSC settings by channel. Provide airline analysts with fare availability strategies for specific market segments, market conditions and/or passenger attributes. Protect revenue with the introduction of comprehensive duplicate segment rejection and alternate segment logic. Provide financial data (BLOB) in the request and RTDP can use the information to better understand previous transactions. Visualize itineraries and availability counts by class, understand how the availability calculation is computed by looking at the inputs such as bid prices, fares, strategies and limits that impact the calculation. Collaborate with your close partners by sharing bid prices to enable O&D level evaluation on select code shares. Improve workflow by enabling an airline to facilitate efficient, non-redundant management of complex strategies across markets. Facilitates differentiating availability by channel (IATA, PCC, GDS, etc.) Protect revenue by keeping an eye on your competition through loading, analysis, alerting and automated availability steering, triggered by competitive data, giving you further insight into your markets, so you can make accurate strategic decisions. Availability Simulation Simulate and analyze how availability would change for a given itinerary if a different set of Market Strategies and Segment Rules are applied than those currently in production. Test and gain insight on strategies that are best for your business. 6 SOLUTION BRIEF PROS REAL-TIME DYNAMIC PRICING

7 Keep Ahead Of The Pack, Lead With Modern Commerce PROS solutions are delivered in a Software-as-a- Service (SaaS) model from our high performance, secure PROS cloud. What makes the PROS cloud different? PROS applications are built to muscle through your mountains of big data to deliver real business results. Now airlines can get the power or an on-prem solution, with the convenience of the PROS cloud architected and scaled to meet intense data demands. It is simply a better value and logical fit for airlines seeking to gain a competitive advantage while balancing costs. Actionable insights in real-time to allow you to keep up with the speed of new data and change SOLUTION BRIEF PROS REAL-TIME DYNAMIC PRICING 7

8 About PROS PROS Holdings, Inc. (NYSE: PRO) is a cloud software company powering the shift to modern commerce by helping companies create personalized and frictionless buying experiences for their customers. Fueled by dynamic pricing science and machine learning, PROS solutions make it possible for companies to price, configure and sell their products and services in an omnichannel environment with speed, precision and consistency. Our customers, who are leaders in their markets, benefit from decades of data science expertise infused into our industry solutions. To learn more, visit pros.com or call us at 1(855) Copyright 2018, PROS Inc. All rights reserved. This document is provided for information purposes only and the contents hereof are subject to change without notice. This document is not warranted to be error -free, nor subject to any other warranties or conditions, whether expressed orally or implied in law, including implied warranties and conditions of merchantability or fitness for a particular purpose. We specifically disclaim any liability with respect to this document and no contractual obligations are formed either directly or indirectly by this document. This document may not be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without our prior written permission. SOLUTION BRIEF PROS REAL TIME DYNAMIC PRICING