S3 Passenger Revenue Management is a software module within the S3 Passenger software suite, which can be implemented independently, to maximise and control revenue from available market demand for rail or long-distance bus operations
- Inventory control; instant control on booking classes
- Decision automation; from manual control up to price sensitivity driven automation
- Analytics; insights for human decisions making
- Clear insight in the current status of upcoming departures and rule-based ‘warning’ system
- Individual control over settings for an individual departure and manual overrides
- Segmentation of demand and assigning profiles to historical and future departures
- Management of setting templates and the Bucket Protection System profile
- Batch task control of automated calculations
- 100% O&D control; no need for O&D nesting and leg / segment based workarounds
- Fully web based; easy and intuitive to use graphical interface
- Modest running costs compared with existing alternatives
- Attractive low-cost integration on the overall S3 Passenger suite
Revenue management is all about optimising profits, by smart segmentation of the market, trying to offer the right price to the right customer, at the right time. To do so, revenue management tooling is a must-have. Sqills offers this, making businesses capable of maximising load factor and yield for every train.
Sqills revenue management tools calculate out of historical data the expected total demand for a destination, which represents the total market potential unrelated to the actual capacity. This ‘unconstrained demand’ is used as the basis for automated optimisation of rates for each point of sale.
Trends gathered from actual sales data are noticed automatically. In this method, changes in train configurations (and therefore seat capacity) can be reflected immediately with new calculations; in the booking curve the new optimum availability per rate or bucket is determined.
Revenue calculations can be made for current settings as well as any projected scenario, leading to a new set of optimal values.
Market movements and competitor actions can be defined in the overall influence settings, overruling historical data in which these new facts are not yet reflected, again leading to immediate recalculation of the suggested availability levels and revenues.
Any possible pricing model is supported, and automated routines allow bookings in a higher price segment to be deducted from low-price bucket availability as well, maintaining availability of higher rates.
By measuring cancellations and no-shows from the historical data, the materialisation rate is calculated and used to predict the correct (and safe) overbooking percentage for future departures.
Sqills revenue management tools offer detailed mechanisms to monitor the market. KPI’s such as load factor, yield, spillage and spoilage can be calculated and compared with another selection. Several types of alerts can be set to provide early warning when a train is not being booked as expected.