interCaribbean goes live on RTS ProfitOpt
interCaribbean Airways is a passenger airline based in the beautiful Turks and Caicos Islands, headquartered at Providenciales International Airport. The airline offers scheduled domestic and regional services from Providenciales to multiple destinations including Antiqua, the Bahamas, British Virgin Islands, Cuba, Dominican Republic, Haiti, Jamaica and Puerto Rico. They also operate domestic flights between Providenciales, Grand Turk and South Caicos as well as domestic flights in Jamaica. They are the latest client to go live with the RTS ProfitOpt solution to manage their passenger business. With this implementation, we were able to expand our reservation interfaces to include the Videcom Reservation System.
With the solution hosted in the RTS data center, the deployment was seamless. Booking data collection was started in October 2015 and training was conducted on-site at the interCaribbean Airways offices in Providenciales at the end of May 2016. The interfaces were built in our India development center, giving a truly global deployment.
We are confident that the revenue optimization models along with an intuitive graphical user interface and extensive reporting capabilities that comprise the RTS ProfitOpt solution will provide significant value to interCaribbean in the future.
CargoProfitOpt Customer Value Enhancements at Brittany Ferries Freight
At RTS, we are continuously looking for ways to develop and improve our products, and have recently been working with Brittany Ferries Freight to complete a number of changes to the ‘Customer Value’ module in our freight revenue management system, RTS CargoProfitOpt, to further suit specific business requirements.
A key change has been introducing ‘clipping’ algorithm to the ‘Relative Volume’ component of the customer value module. Relative volume is usually seen as one of, if not the most important of the seven components used to evaluate all customers and provide them with a customer value score relative to each other. The ‘clipping’ can be used to define the top x number of customers, which may be the top 5-10 customers shipping considerably more volume than other customers. These will automatically get a top score of 10, and their volumes are no longer considered in the relative evaluation. Similarly an absolute lower clipping values can be defined, for example less than 5 shipments (or an equivalent volume measurement), and these customers are given the lowest score and also removed from the relative evaluation. By excluding the best customers and those that ship very infrequently, an improved spread of customers in the remaining score bands of 1-9 has been demonstrated. In addition, the cancellation element of the score has been given the option of calculation by a percentage rate as well as an absolute value.
The customer value module provides insightful and important data on customer performance in the key areas of shipped Volume, Peak/Off Peak business, No Shows, Cancellations, Transfers, Bi-directionality and Payment History, which is useful for rate negotiation. Within CargoProfitOpt it can be used to give better access to space for customers on constrained sailings, or if required it could be used to guarantee access to remaining free space. Customer value is also a key-weighting variable in the ‘Waitlist Management’ process, which determines the priority ranking of all waitlisted bookings.
Bid Price Rate Adjustments have also been added, which are essentially ‘Customer Loyalty Adjustments’, where the user can add a positive adjustment. This has an indirect impact on the customer’s value and increases their rate on an individual booking to make it easier to meet the bid price. These can be set at the individual departure level, to all sailings in a market, or for the entire network for individual customers. In addition this could be used, for example, to give a new customer an initial boost in a given market.
On a separate note, new booking projection fields have been added to the freight data extract to allow forecasted information to be available for internal consumption in reports and decision making.
All these additions come ahead of the main maintenance release, which is due for release in the final quarter of this year.